How To Buy A Semi Truck | The COMPLETE Guide
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- Опубліковано 29 гру 2024
- Here is the complete process and guide to buying your own semi truck, box truck, or any commercial vehicle. Enjoy!
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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_
I’ve been thinking about getting into the trucking business
That's a big move, but it can definitely pay off if done right. I looked into it a few years back. The key is finding the right financing and balancing the investment. A semi truck isn’t cheap, and maintenance costs can add up fast.
Yeah, I've heard that. Do you think it’s better to buy new or used?
It depends on your situation. A new truck gives you warranty and fewer repairs in the short run, but a used one will cost a lot less upfront. I bought used, but I made sure I had enough cash set aside for any surprises. That’s where having a good financial plan comes in. You can’t just think about the truck itself-you have to look at it like a long-term investment
Exactly. I mean, I was in a similar boat last year when I considered buying one for my logistics company. I wasn’t sure how it would impact my overall finances, especially since I’m also trying to save and invest for the future.
That’s where it gets tricky. How do you balance investing in a semi truck and still manage your wealth? You don’t want to drain your savings or take out a loan that’ll stretch you thin
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 !!
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
I know this is an old video, but you just got a SUB and like from me brother!! I stopped trucking 2 years ago and became a cop. Next year, I plan on using money saved and from my 401k to buy a truck to team drive with my wife. Thanks for the tips bro!
You can message truckin Treasures to get your trucks
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.
You forgot the expensive monthly truck insurance in your calculations FL is roughly $3000 a month for some people
So much great knowledge for a person wanting to enter the truck industry, thank you!!
Glad you found it useful! That means a lot.
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
Heck yeah bro! Keep talking that business and finance.
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
@@AK47HEAVYMETAL83I have met few that did their taxes properly they hire cpas that lose them money. Poor bookkeeping etc.
This is the first video I watched. The most strait forward video I understand.
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 😂
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 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 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
Gill, my guy, you went in on this topic thanks
thank you thank you!
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!!!
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!
This guy is an honest young guy who thought he knew the market when he was at the top of the hill.
Great info. I haven’t seen the finance analysis in other videos. Got a new subscriber, looking forward for more videos.
Do u hire drivers fresh out of trucking school??
Great content, I appreciate the time and effort you put into teaching others. Thank you
Some trucking companies offer packages to invest with them… do you offer investment opportunities in your company
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!
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
very nice cant wait for the next video.
You’re a beast this is so much info in one video! Thank you!! I totally agree with it!
Leverage the word of the day
Yes sir! You already know
I appreciate your time and effort ❤
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 you purchase a semi at 60 years old or just stay as a company driver if you worked for a good company already ?
I was a company driver about 17 years ago I only drove seven months. How would you recommend me getting back in the trucking Owner operator
Well, I wanted to. ask a question and address it in in the format that how I would want it to start off. I work as a freight broker agent. So I'm able to deal with the broker that I work under The dispatchers work. for the trucking company and you. did describe in one of your prior videos that came across today. You did do a good explanation on that with the laws that have recently changed. due to this economy that has been horrendous for all of us. I am thinking of wanting to get back on the road and drive. now knowing what to expect having been a company driver. I don't necessarily want a whole bunch of expenses when it. comes to the truck that inherently I don't necessarily want. and I most definitely don't want the headache of having to fix or repair a truck at anytime especially when it's a worse situation when you're stuck in trying somewhere. now I. am thinking maybe renting a truck. that way and confirm me if I am wrong but I would gather that by renting the truck from irreparable dealer. they would. then be obligated or required to repair fix said equipment. This would take an initial headache and hemorrhoid off of my plate. while I'm making the money of per se doing my own dispatching finding my own loads or having them brought to me through my aspect of a freight broker agent. and then driving I theoretically should be. doing somewhat well. my overhead in personal life is reduced. the 1 thing that I would need to add and do to one primary state that I would be in which would be California unfortunately. As I mentioned in the prior video, I saw of yours today that you didn't mention about California C.A number. Due to the fact a vehicle is based out of. California per se. there's the required 90 day repair, which that occurs four times a year. If that expense can be reduced by the renting company, that would be great. And if at any time the equipment does break down and it is held over for weeks, I could take it into the nearest location throughout the United States and swap it out. I've had these conversations with a particular carrier company that I've had a conversation this year because they had contacted me with a particular load that was from Denver area to San Francisco. California and to potential Tijuana, Mexico. He went on to explain how he acquires and rent his equipment through Ryder. Do you have any suggestions that you would like to add to this, or enlighten my concept on what I've mentioned and what I am currently considering. and today is September 6th. 2024. And the current time is 17:24. I would like to add one other caveat to this that could. potentially help anyone else that would read this but what if the situation were to lease on to a different carrier? just for the purpose of moving the equipment?
So much good information put in bro, much appreciated👍
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.
You the best a lot of great information here thank you
Thank you Ayala glad you enjoyed it!
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?
Great presentation 😊
Facts about leasing
Great job boss .. I appreciated
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
Can you please explain how you comes out to MiRR of finance . I am not getting that number. Please and thanl you!
Thanks for the info
no problem! hope it was useful
Very good info here bud.
Appreciate it 🤝🏽
Awesome video 💪
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?
@@TheodorosNiforas Correct. A guarantor has no ownership whereas a co-signer does!
@@Gill22 thanks man
Great Content as always! Thank you!
Glad you enjoyed it Lillian!
More please
Great info. Thanks for sharing.
my man... thank 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
never understood the guys who stay company their entire lives 🤯
got 10k saved so far fomy down payment.
congratulations brother! excited for you 👌🏽
Where can I buy a truck gill
Thank you,,,,that was really helpful,,,,👍
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
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?
Thanks
Would it be a good idea to finance a truck through a trucking company and just put a driver in it ?
BRO… AWESOME.. 💪
Excellent video.🎯👍
Thank you Will!
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 UA-cam video on these topics wouldn’t be useful
Yes more business and depreciation videos
Will do!
how did you get the numbers for the wacc % and the mirr %
Thanks Gill!
More of these please
Thank you very much sir
Nice... good job man..
Great info
Thank you!
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,,,
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”
Hell yeah do more of these types bro
will do!
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!
Do a video on finding the best insurance company.
Great video
What do you think of the Hyliion ERX?
Eye opening session Gill 22 ji....
thank you veerji!
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.
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
Your a genius 👏🏾
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).
Thanks bro
Yes more business info videos
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!
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!
Thank you Gil how much can I expect to pay down, deposit and lease monthly for a 450k Volvo or cascadia? Thank you.
Good
Great helping video
Thank you paaji!
Great info!!
What do you mean discount rate ? How do I calculate it ?
absolutely wild
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.
What brand of trucks would you go for and why?
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 have one in California for sale lmk
Under 340k d13
I don't want to be a owner operator I just want you guys to deliver my stuff for me that it!
Hey Gill! Excellent video Bro! Also, can you do a video on insurance and liabilities to avoid as well?
I want to know
Best video
I mean, im looking at an 02 freightliner for 7800 bucks