My monthly payment on a Quad Axle Dump Truck
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- Опубликовано: 5 окт 2024
- Under this lease to own contract agreement, I cannot make any extra payments to reduce the interest amount. If I get 4 payments behind then the truck will be permanently in their possession; terminating the loan. This also means that they will keep the $45,000 which is still used as collateral after 12 months. About the 2024 truck prices, I meant to say between $260,000-$280,000.
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Good luck with the truck. I’m second generation in the family business when we buy equipment i call a small lender that leased a trailer to me 24 years ago he took a chance on me now it’s like borrowing from a friend i make one phone call then we meet for a cup of coffee and sign papers he has financed two excavators a bulldozer and a trailer for me. We had one of the machines on the job before my regular bank even got back to me
Respect your honesty 💯..best of wishes to you!!
Thanks for the support! The entire startup process was overwhelming. I didn’t realize how expensive ownership was after being a company driver for 7 years. I have already had my up and downs. I hate to see people underestimate this business because it can drain you dry. Yeah, I’ll keep you updated!
Hope it works out for you and the interest rate seems high. Trucks especially are crazy high now. It is a nice truck though. Tell us what you can make with the truck, rate per mile, what you haul etc.
Yeah they are very expensive. $260,000-280,000 for a brand new truck is just insane! I am basically paying for a brand new truck right now by my interest rate being so high lol. Lenders are becoming more strict as well. I will!
Thanks for sharing no one is really breaking down the game like this or especially the tough times and just keeping it a whole hunnid
No problem fam! Too many people are selfish and don’t want to see others grow smh.
The dang cost of insurance is a huge deal around here in Florida. 10-20k per truck per year is not out of the norm
Tell me about it smh. It’s the same here too. Insurance prices are ridiculous on these trucks.
I bought a brand new 2016 Peterbilt 389 my payment back then was 2800 a month with no money down then I bought a transfer set used and that payment was 1700 a month.
That’s a heck of a deal! How long did you finance your truck for? Inflation and Covid really skyrocketed the price of these trucks.
I financed my truck for 6 years. The interest rate was 7% on new equipment and the used equipment was 10%.. crazy about the truck prices
Good luck and congratulations. im in the dump trucking also. I hope you have a successful year 👍
I hope the best for you as well!!
What I was wondering is what if you and your dad took that $50,000 and went and bought a older truck now no, the older truck might have a little more maintenance involved in keeping it on the road but I think overall you can build up your money and then go buy the new truck
I was given the opportunity to purchase his 99 t800 (quad axle) for around that price 2.5 years ago. The truck had a freshly rebuilt CAT (brand new head, turbo, new injectors, and in-frame) using all CAT parts. I was just too complacent in being only a driver at the time.
Ok
I think I'm gonna take this advice from you. Old trucks
Yep build your money then upgrade because if something happens and you’re not able to drive and make payments, you’re gonna be shit out of luck
What's the financial companies information ?
Brother, it gauls me that a hard worker who could use a little help from the bank gets stonewalled...go get em dude, new subscriber here...✊️✌️
You know it!!!💪🏼💪🏼
Dope video bro🔥🔥 good luck to you and the business
I appreciate it bro!
For me i would on paying the truck off as quickly as possible.
I’m working on it👌🏼
I own the truck what’s the max weekly I’m in the Charleston/savannah area
It depends on if you are willing to run double shifts. I work day and night by the hr.
Great info.
Subscribed….
Thanks! We can all learn from each other as you provided a lot of insight on your channel as well!
Aint no way dump trucking is that good like bro are u really taking any money home? I feel u but thats the worst payment i ever heard of . Not counting diesal and maintenance and insurance . U must be on an elite contract lol
Sorry for the late reply bro. I had no other choice at the time which sucks. I just posted a video on how I can afford the truck. Here is the link. ruclips.net/video/RpSdMu7pczw/видео.htmlsi=LmDm2M7UvfhA50H0
Here in Las Vegas that truck would probably make $100/hr
He's working the truck 2 shifts per day, so 16 hrs equals 1600/day.
Times 5 days equals $8000/wk.
Times 4 weeks a month equals $32,000/mo.
It would easily be worth it.
Subscribed!
Thanks! I appreciate it!!
how much depreciation can you claim per year? when you first got the truck
He keeps talking about my boy.. he don't even know my boy????
Great video and thanks for the information. Liked and Subbed 💯🤙
I appreciate it and thanks for the support!
Plus you don’t own the truck at the end of the loan
It is a lease to own agreement. I can buyout the loan at any given time after 12 months.
🤷🏽♂️Did you Try a 😐Credit Union 😐for your loan before the bank !!!!!!!
Sorry for the late response but I did. I got declined by Navy Federal because they viewed me as a high risk.
After.
A serious injury with a flat bed. The d*** nerve killed years of workman's com. I decided to go on my own pull up my own Tri. Axle, basically what you're going through.
The banks are just as obese. You're doing alright. Sounds like you've got your head on. I'm in Northeast Pennsylvania, 26 years and try axles. I prefer the older still really my trucks in 990, it takes plenty of work. It's a pain i* t** a** There is always something that's gonna need to be fixed in the near future. You know, you're running over something on a job site. D*** i* if it isn't the tire on the truck. That has the most tread on it's in the sidewalk.
It's just the way it is. Find a way to go direct with customers out. A flat rwhen you're paid for that time sitting waiting in the car.
Now, it is unfair if you break down go off the clock. D*** i*, don't charge a customer for that. But you'd be fair kind and courteous to your customers. You'll be okay. Business cards go a long way. An attitude and ability do s*** right? Be polite don't remember you don't call the quarry and I'll ask for you. Know this, though. Some people that could be nice to your face and act like your friend. And all they want is the work you have and don't do anything you get it some of my pretty d*** sneaky. Now I'm in Northeast Pennsylvania been doing it for 26 years. I don't know what your g. V, W, there is, we run 73 2 80 on a Tri. Axle, and I've seen states with quad axles with JB w's abuse that just make me laugh. So if you're home less weight than me and still making the same amount of money well, I would have to think your truck is gonna take less repair.
I think you'll do o k
26 years is a very long time! I bet that you have experienced a lot too. It definitely is not easy being a owner-operator. The more you make, the more THEY take. I can legally haul 20 tons on my quad which equates in a gross weight of 69,500 (non-interstate). The truck is heavy due to having a demotion body. On tonnage hauls, I usually tear in with a quarter of a tank lol.
dump trucks are joining the boat joke.... best day you had was buying boat/dumptruck .. next best day selling boat/dumptruck
If your dad owned a truck i can't understand how he would let you go for that deal on the truck your in for a world of hurt that payment is crazy
It benefits me by not showing up on my credit report. I can buyout the loan at any given time now since it has been 12 months! I also have 40k in equity! I understand where you are coming from. We were initially going to go that route.
Thank you for the video it was very helpful .
Good luck .. I Subscribed to your channel
Looking forward to more informative videos
I have plenty of more otw 💪🏼💪🏼
Where did you get the financing from?
Email me at otwtransportservicesllc@gmail.com
Hey J, I need to link up with you asap
Wats up bro...I sent you an email asking about the finance company you worked with
Sorry for the late reply bro. It probably went to my spam. I’ll check.
Can you make some more videos for us, please?
Hey bro, how can someone get in touch with you. I live in North Carolina.
What part of NC? I’m located in Raleigh/Durham.
@@otwjaylifestyle Winston-Salem. Are you on facebook.
otwtransportservicesllc@gmail.com
Good way to wash drug money
did you know that Joe, Biden wants to raise all business taxes on owner / operators like us?
I know Joe is trying his best with Kamala to raise taxes what a shame