How To Buy A Semi Truck | The COMPLETE Guide
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- Опубликовано: 18 сен 2021
- Here is the complete process and guide to buying your own semi truck, box truck, or any commercial vehicle. Enjoy!
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#Gill22 #business #trucking
Timestamps:
0:00 - Introduction
1:38 - Step #1: Understand The Fundamentals
2:12 - Step #2: Do Your Research
4:13 - Step #3: New vs Used
8:59 - Step #4: Finance vs Lease vs Cash
18:08 - Step #5: Finding A Reputable Dealer
19:35 - Step #6: Finding A Local Truck Shop
20:58 - Closing Remarks
*DON'T Skip Step #4... in my opinion it's the most important step for all of you to watch!
Nice one bro..keep up the awesome work
Great video. You got me thinking. And yes make more videos on this.
That dont seem right I would think u will make more money if u own the truck and not have to pay any money back
@@rahkeenclark2254 By owning the truck, you also have to pay the full price of the truck immediately. That is a huge opportunity cost and leaves you open to a bunch of risk in terms of unexpected repairs/maintenance and continued operating costs. With financing, you put a lot less money down, your asset will make you a lot more money than the monthly payment, and you have money left over to pay for any operating costs. Even without the numbers that I showed in the video, it makes sense logically why financing would get you a higher return based on money invested than just buying outright. It's also why there are no Fortune 500 companies that ONLY use cash to buy their assets even though they could. It's a mix of debt and equity!
_A higher horsepower does not consume more fuel, if you have a high horsepower engine with a gear ratio above a 3.3 then yes you will be consuming more fuel, the lower the gear ratio the better the fuel economy_
Love this creator, he always provides great useful information and gets right to the point, plus he stays on subject so if you're learning you can watch him over & over 👍
Thank you
It is 2 am I am not a truck driver have no idea how this ended up on my page and have no intention of ever buy a semi truck. But I have to say I do not regret clicking on this video 😂
Finally a real informative, straightforward channel. Appreciate your work !!
Ayo Gill I just found your channel and I'm inspired to learn more from you and eventually start my own trucking company. Please keep up the great content!
Hey so glad to hear that! I'm sure you'll do great and I'll be here to help you along the way brother
Also do the lease operator video! I hate liars and thieves, but when they band together into a company to take advantage of hard working individuals, I hate those guys even more.
You gotta remember that your payments are tax deductible and works in your favor! 100% of business expenses are tax deductible, plus per diem!
@@AK47HEAVYMETAL83thank you.
Trans AM got me good
You’re a beast this is so much info in one video! Thank you!! I totally agree with it!
Great content, I appreciate the time and effort you put into teaching others. Thank you
So much good information put in bro, much appreciated👍
Heck yeah bro! Keep talking that business and finance.
Great info. I haven’t seen the finance analysis in other videos. Got a new subscriber, looking forward for more videos.
So much great knowledge for a person wanting to enter the truck industry, thank you!!
Glad you found it useful! That means a lot.
Great info!!
Great info. Thanks for sharing.
This is the first video I watched. The most strait forward video I understand.
I ran across your channel a while back and immediately subscribed. It was later that I found out about your education and was very impressed. I am one that would enjoy more business videos. Thank you for sharing your wealth of knowledge.
Thank you! glad you’re here 🙏🏽
Truly enjoyed the wisdom shared I'm in the stages to get my first semi truck I'm driving for Amazon now I'm just being patient and learning
I appreciate your time and effort ❤
Awesome video 💪
very nice cant wait for the next video.
Great Content as always! Thank you!
Glad you enjoyed it Lillian!
Great presentation 😊
Thanks Gill!
Great job boss .. I appreciated
I honestly wasn’t planning on subscribing but this content is priceless. I’ll be reaching out soon my guy!
i appreciate that my man!
Me too. I'm NOT a trucker but this guy is on the top of his game. It's 'knowledge' I'm interested in and I can learn from this guy. He's a great communicator.
Thank you,,,,that was really helpful,,,,👍
Nice... good job man..
Gill, my guy, you went in on this topic thanks
thank you thank you!
Great video
Thanks for the info
no problem! hope it was useful
Great helping video
Thank you paaji!
You the best a lot of great information here thank you
Thank you Ayala glad you enjoyed it!
No my friend take your time it's good info for us taking it in bit by bit keep it coming this is coming from Canada
Appreciate it brother! I’m going to try and find a editor early next year so I can put out more videos more consistently and I’ll be able to focus on growing my trucking business. Win Win haha
Thanks for all of your videos, they have been extremely helpful. Maybe you can do one to explain the different types of trucks for specific loads? pros and cons of each? and what loads are the most profitable. Thanks again!
Yeah of course! I think more specific stuff like that would be better suited in a course but i’ll see if i can try to make a video out of it!
Great info
Thank you!
BRO… AWESOME.. 💪
Thank you very much sir
my man... thank you
Excellent video.🎯👍
Thank you Will!
Very good info here bud.
Appreciate it 🤝🏽
Solid buddy, ur a straight shooter obviously intelligent, well raised, morally in touch with reality. Ppl like you always get my vote of confidence and I would like to congratulate you on being subscribed by me. I have very high standards and consider your channel a business consulting asset. Also congrats on 50k subs it's gunna happen soon.
Appreciate it brother! Social media clout doesn't matter to me, I just want to help everyone get a piece of this trillion dollar industry!
And that's why you're a blessed, my brother!!! When you help 1, God will bless you 10x. I've been in this industry for 11 years now, and people always have a fee $ for their knowledge or they will gas you up. Respect 🙏 to you. Just subscribed to your channel!!!
Your a genius 👏🏾
More of these please
Yes more business info videos
Hell yeah do more of these types bro
will do!
Thanks bro
Yes more business and depreciation videos
Will do!
Eye opening session Gill 22 ji....
thank you veerji!
18 years driving trucks company driver. Tried leasing once but it was a nightmare and massive headache. Would love to apply everything thing you mentioned in this video aswell as others. However like everything taking that leap tends to be scary. At any rate thanks for the great content maybe ill start up one day before im too old to do anything 😂
Facts about leasing
Thanks
I learn a lot on this channel
That’s the whole goal with this channel! Give REAL actionable advice and information and hold nothing “secret”
Best video
Leverage the word of the day
Yes sir! You already know
absolutely wild
More please
Hey Gill! Excellent video Bro! Also, can you do a video on insurance and liabilities to avoid as well?
Do a video on finding the best insurance company.
aprreciate you
Most of your videos are always about WHAT and never tells HOW. This video is perfect, you are telling what to do but never told how to do it if someone is new.
@AJ-cg7zc Honestly speaking, Gill is by far the best info giver I have seen out there. All of the videos I've seen were on point and he breaks it down in layman's terms. Big up's to bro Gill
I’m so interested in learning your formulas. I don’t know what a wacc or a mpv means but I want to learn. Do you have a book or a work book?
You forgot the expensive monthly truck insurance in your calculations FL is roughly $3000 a month for some people
never understood the guys who stay company their entire lives 🤯
got 10k saved so far fomy down payment.
congratulations brother! excited for you 👌🏽
Good
This might make me seem dumb but could you explain fuel surcharges? What exactly are they and how do they work? How do I calculate them into my cost per mile?
I wish you made this video 2 years ago when i bought my truck. I've leased my truck, and yes I've became a lease operator for an other carrier.
do u regret it?
the company i work for are selling the truck iam driving idk but it's tempting 😩
@JC Torres leasing it yes. Big time.
@@MsDanms but thats whats confusing to me. i work for a small company i mean like 10-15 trucks they jave good equipment and these guys been good so far i worked for them like 5 yrs they selling me a truck 2020 360k miles for $102k comes out to 1800 a week
and theyve told me the market its not that good so at least they honest but idk 😩
@JC Torres there are a lot of questions to ask. First is why they are selling that truck. Why to an employee? Is it in good faith or because they want to get rid of ir.
Are they going to give you steady work around the year?
I think Gill22 has a video about that to. Hope it helps.
I need a step by step about the document and things I need submitted before actually buying the truck. I would like to run either for your company or someone else's authority so I need to make the right move where I'm not over spending on unnecessary things if that makes sense
Thanks for this video. Have spent 1 nine months OTR and want to get my truck. Will like to finance. Which kind of a financial company will you recommend for me? New truck
Also could you explain the need to know stuff about insuring the truck? Rates, down payment assistance, how much to insure, etc.?
I’m working on making a course that can get into all the little details. Making an entire RUclips video on these topics wouldn’t be useful
I love the way you think bro.
I just started getting into finding a good used truck to finance. I have 750 credit score but no credit history so am gonna have to build my history payment or getting a co signer as well. But the main problem I ve seen till now is that I was told by a credit company that both me and co signer have to be guarantors. So I don’t know what’s good and bad about this and if they are any traps I might fall into..
I would really appreciate if you could tell me the difference between buyer and guarantor in the finance world and what should I look for in finance agreement with co signer.
Thank you
From my understanding, a guarantor is personally liable for paying off the debt if you default. So say you’re the primary on a loan and you don’t pay your payments, the bank can come after you and any other guarantors personal assets to pay off as much as the debt as they can.
There’s no real other “catch” to it. It’s fairly normal in the finance world.
@@Gill22 so a guarantor doesn’t have any ownership in this, he is just liable in case the primary loaner don’t pay. Right?
@@user-qw5bm9tj5m Correct. A guarantor has no ownership whereas a co-signer does!
@@Gill22 thanks man
What do you think of the Hyliion ERX?
Good day sir. Elijah(19 years of age), from South Africa. I enjoy watching your content. Is there a way I can talk to you directly as I am very interested in the industry and just registered my company(still no assets).
Thank you Gil how much can I expect to pay down, deposit and lease monthly for a 450k Volvo or cascadia? Thank you.
Can you please explain how you comes out to MiRR of finance . I am not getting that number. Please and thanl you!
how did you get the numbers for the wacc % and the mirr %
There’s nothing wrong buying a truck over 6 years old I bought a 20 year old truck for 25k been running for the past 3 years haven’t had any major issues just basic maintenance
Oh yeah of course! Many people have a misconception about used equipment being unreliable. I’ve started to transition into buying newer trucks only now since we have the money and because company drivers prefer those vehicles. However, when you’re starting out or just operating as an owner operator, you should definitely consider buying used. Great value for your money!
Apparently you haven't been trucking long. Small engine, higher fuel cost. Big engine doesn't mean higher fuel cost. Because you have big motor doesn't mean you have to use it all, but when in the pulls you get better fuel. Plus it's got alot, awhole lot to do with the gearing.
I am a new person in the trucking business and i was thinking of buying cash but i can’t buy cash any more i will finance instead
Would it be a good idea to finance a truck through a trucking company and just put a driver in it ?
Hi Gill, I´ve been following your FB Fan Page, website, your channel, and some of your videos, especially this one talking about the finance Model. However, I am planning to buy a Truck using the cash model but doing a downpayment at least of 50% of the total amount of the brand new truck. what would you recommend? is it that possible to combine both scenarios?
Hey, that’s great news! It’s not possible to follow the cash model and still have a down payment. The cash model implies you’re paying in full. If you want to pay 50% down and finance the rest, that is definitely possible!
Brother thank you for this video. Just got my AZ (CDL) do you hire Canadians. Thank you in advance.
Hey, unfortunately we don’t serve Canada right now. Thank you so much for the kind words!
I don't want to be a owner operator I just want you guys to deliver my stuff for me that it!
Where can I buy a truck gill
What do you mean discount rate ? How do I calculate it ?
What brand of trucks would you go for and why?
Dude, the deductions you get on your interest are not worth financing, if you have the cash pay cash, if you dont, save up, is simple
Do u hire drivers fresh out of trucking school??
Kidda paaji,, where u frm ??,,im in Cali,,, im in market to get my first truck,,, and yes I'm more into going with finance,,,my goal is to find 2-3 yrs old truck with 300k-350k miles,,,Frightliner or Volvo,,,
love you =-)~
❤️
For me, I want to do A walkaway lease just so I can get the money up fast for a down payment on a finance
You can't find any semi trucks with less than 350000 miles right now.
Yeah this video is more for when market conditions are stable. The car and truck industry is in a weird place right now but when the dust settles, i would advise using this guide to buy your first truck.
I'd like to get with you,I'm in the starting p process of buying a semi truck
Hello man I've got a good recommendation his price is fair.
I want to know
Now 2023 is no recomendable to bay o to go on your own. But if you have the money, wait, prices are going down.
Buy set that truck on the side and keep working on your job. Now the market is bad, we getting in recession if we're in it already.
To bay a truck now you have big chances of loosing your money.
Hello Gill. Do you work with owner operators?
We do but heading into 2022, the only type of owner operators we’re going to work with is semi truck owner operators.
@@Gill22 Ok. Thanks for your response
Sorry, one more question? Can you explain the difference between hiring a broker and hiring a dispatcher?
the main difference between hiring a broker and hiring a dispatcher in the trucking industry is that a broker is an independent third-party who arranges transportation between shippers and carriers, while a dispatcher works for a carrier and is responsible for managing the transportation of the carrier's own goods.
I would like information on that as well. How do find a reputable broker? And if possible can you do a video on how to insure a truck without a lot of experience. Thank you for sharing your knowledge!
😂 who the hell wants to buy a volvo? Must drink a whole lot of Bud Light
I would think leasing or buying outright would be the best options, lease has security and is almost perfectly identical to financing and you don't have to worry about down payment, so you get more In the long run (because it's extremely easy to make 40k a month unless you're extremely lazy) that truck can be paid off in less than a year and have a ton of spare cash. The other option with buying with cash up front is rare but best because you don't have to worry about the extra cost of financing
It seems like by far financing seems like the scam especially when you can't get financing with less than 5 years in the industry, no one will sell to you
Over the past month or so i’ve really come to appreciate leasing more and more. I honestly would put it as my number 1 option and financing as number 2. There are SOOO many factors that determine which option is better for each individual but leasing equipment from a CARRIER with a contract to work for them is the worst option!
Hello my name is Rian. I am interested in getting into the trucking industry. I would like to ride along with someone with your knowledge and im willing to pay for the knowledge. Would you ever consider a ride along to help someone take the first steps into getting into the industry?
You need to educate yourself start with that 1st
Iam thinking of starting my own buisnes as an owner operator, what about taxes how much do you pay for that.
Iam a mechanic for trucks
Taxes will depend on how your company is structured, how much you make every year, and what you’re able to write off. That number is different for everyone that it’s better to just talk to your accountant to get a breakdown of what you can expect to pay.
@@Gill22 Ok tnx man, take care
Id buy that for a dollar!
Done deal 🤝🏽