First time buyer O/0

[Paccardude]

I am first time truck buyer... The third party finance companies are trying to get 50% down payment. I believe this is rape, but I guess you gotta do whatever it takes to get into a higher paying tier bracket.

I'm looking at a t660 with a paccar engine 10 speed manual. The truck is Indiana and I don't know a legit mechanic who can look over it. I was wondering what the three main expensive fixes would be and what to look for, before purchasing? I watched the video with the Cummins, but I didn't notice one with a paccar. Any help would be greatly appreciated, finance and inspection.


Thanks.

[Rawze]

You need to first identify your long term goals...

* How long do you plan on keeping it?

* How are you going to deal with repairs and up-keep?

* Does the truck specs match the intended freight your going to move/market you are planning on being in? (dry-van/reefer, flatbed, heavy, etc.?) .. proper gear ratio, cab style, expected fuel efficiency, etc..

-- What is your plan towards avoiding what all the other 85% of all O/O's out there who struggle and fail in our industry do? -- What is your overall business plan?

- What steps are you going to do to maximize long term profitability?

- How much you got up front towards getting the truck road worthy and somewhat reliable again?

Lastly, this is a cummins forum,.. not paccar. there is a reason for this. - The people of this forum like to actually keep their earnings by doing all if not most their own engine and truck repairs to some medium degree .. it is the only way to keep profits long term any more in our washed out industry,.. and that paccar... good luck trying to get info / software, etc. towards fixing it yourself... Does paccar provide all service and maintenance manuals online for free like the red engine maker does? Is there an extensive network of people who have figured out its quirks so that you can keep it reliable long term?

Those are the things you should be asking and discussing on here, otherwise your wasting your time.

here is some additional reading for you. open your eyes, read, read, and read some more and learn what you are about to get into before swimming into the abyss...
http://rawze.com/forums/showthread.php?t...1#pid37721
and...
http://rawze.com/forums/showthread.php?t...7#pid32057
and...
read my book...
http://rawze.com/book

and then ... when you buy used, this is what your walking into ....
http://rawze.com/forums/showthread.php?t...18#pid6718

[Mattman]

Like the man said pick the truck for the job it will do. Cummins is an option engine in about every heavy truck built. Maybe a reason for that.

As far as the 50% I would tell them where to get off at. You need to put down as little money as possible the rest saved for when you truck breaks down. It will break and it costs money to fix.

Have you checked with your local bank? Commercial loans are different than say a loan for a pickup truck. I would say the reason for the high down payment is the risk of first time truck buyers defaulting on their loan.

[Paccardude]

Wow, thanks for the quick replies!

I'm looking to only have the truck a year or two. I want to build sufficient enough credit so I won't have to put 50% down and my interest rate won't be out of the roof on my next purchase. I'll be operating under FedEx custom Critical pulling reefer/dryvan LTL for 1-2 years before eventually branching off into my own authority. I would like to go ahead and learn the business aspect of everything and not be a steering wheel holder for a large carrier. I would also definately do the work/repairs.


I would buy a cummins, considering all the details you've mentioned plus all the gobs of information on them. However, they aren't in my price range at the moment and the paccar is $9,000 cheaper than the cummins 2012-2013 t660, that I've been looking at.


**Spoiler alert*** The book has massive truth bombs.

"Many thanks to those who have helped me, and also many thanks to the
many more who went out of their way to try and knock me down. Learning
through adversity makes us stronger, but only if we refuse to give in. Remember
this the next time you are facing that impossible situation, and you will somehow
come out ahead. Nothing is impossible, it is simply a matter of learning what to
do to achieve it. Be safe out there, and God Bless."

Cheers!

[Magard]

My suggestions are to go buy a pro star with Cummins. 3.55 gears 10 spd. Don’t get the ones with fuel tanks under the doors. They are to heavy up front. Find one that the tanks are under the sleeper area. That should be a pretty common set up. The reason for pro star is because the max force engine has ruined that trucks resale value. Even if it has a Cummins. These trucks are cheap. And efficient. 40k buys a pretty descent one. Beat the shi#t out of the seller because when you go to upgrade it won’t be worth much. Which is ok if bought right. Someone will buy it for cash when your done and it needs to be affordable for that situation. This forum is full of knowledge on those trucks. You will be in good hands here. Also try and buy a truck that hasn’t been run in the salt much. They usually cost a little more but it’s worth it.

[hhow55]

I don't know what your credit is like. I just looked at a several prostar's at Texas Truck Sales. Starting from 2009 to 2016 year model's. They offer financing with A B C OR D credit. I think it is a good idea to shop, shop around.

[Rawze]

(11-16-2019 )Paccardude Wrote:  ... I'll be operating under FedEx custom Critical pulling reefer/dryvan LTL for 1-2 years before eventually branching off into my own authority.
...

I haul fedex freight too (3rd party) ... I hope you can compete with my 9+ mpg, 92c/mile + FSC rates ... I will cut your throat financially all day long, steal your customers, and run you out of business if you can't spec and get a truck to bust the 8+ or 9+ mpg range on every run and compete with people just like me!,.!.

I AM that low-rent guy everyone hates in our industry --- BECAUSE I FIGURED OUT HO TO MAKE IT VERY PROFITABLE FOR ME AND FOR THOSE WHO DO WHAT I DO!.

PEOPLE LIKE ME are your competitors and .. if your not DOING EVERYTHING towards these goals ... your NOT going to take home any decent kind of pay for all your efforts. - you will be pissing up-wind and running your arsse off just to give it all away to everyone around you just to keep your expenses paid, and truck on the roads.

That is the dry/reefer market .. you have to knuckle down and really put some effort into controlling your expenses to be competitive and make it worth any kind of efforts out here any more.

[Paccardude]

Thank you for everyone's feedback! Keep the posts cummin~! woot woot

[Paccardude]

(11-17-2019 )Magard Wrote:  My suggestions are to go buy a pro star with Cummins. 3.55 gears 10 spd. Don’t get the ones with fuel tanks under the doors. They are to heavy up front. Find one that the tanks are under the sleeper area. That should be a pretty common set up. The reason for pro star is because the max force engine has ruined that trucks resale value. Even if it has a Cummins. These trucks are cheap. And efficient. 40k buys a pretty descent one. Beat the shi#t out of the seller because when you go to upgrade it won’t be worth much. Which is ok if bought right. Someone will buy it for cash when your done and it needs to be affordable for that situation. This forum is full of knowledge on those trucks. You will be in good hands here. Also try and buy a truck that hasn’t been run in the salt much. They usually cost a little more but it’s worth it.

Hi Magard,

I'm looking at truck paper right now. Do you know any reputable sites or even auctions that might be worth checking out?


thanks