I want to get 2 trucks, used or the cheapest way to get them so I can hire young and trainable people.
Those of you who have trucks for your guys, (Damien, Craig,…etc…) How did you get these trucks? Were they new? Did you get them on your credit, buy outright, salvage title…how did you do it?? Chris and Alex, do you guys buy company trucks too?
I bought mine outright. I usually look for used trucks that might last a while before needing an engine or transmission. My ROI on the trucks is really high because I look around a lot before I buy and get killer deals.
We have 3 company trucks. 2 were bought used from Ford, and 1 was bought brand new. All were bought in the last 2 years. We use company credit and finance them all.
Buy a used toyota tacoma. Even if the motor and tranny are shot. There are tons of places down here in L.A. that specialize in rebuilt Japanese engines and transmissions. I put a rebuilt in mine and the thing has been running like a champ ever since. Last time i checked you can get a both engine and trans for a little over 2000
Using company credit would have to mean that you formed a corp. (s or c) right? Or an LLC? Is that a good idea with just a 2 man show, looking to be a 4 man show within a year?
I spoke with Damien Casillas, and he has a real good system that I want to use for my company. He starts his guys REAL low, but trains them and they use his trucks. That is what I want. I will have much more control.
I am trying to figure costs, car washs per week, oil changes and tune ups, insurances, gas etc…
Steve, what is the $$ you spend every month for your fleet, per truck including all of the above?
pay cash.
I turned a personal vehicle into the work car. Just bought a truck for my guys about a month ago, I paid cash to a window cleaner going out of business. He was selling tools, a truck and some route. I paid cash for all.
I would not suggest using credit. I was always taught that if I couldn’t pay cash then I couldn’t afford it… unless something like a house, ya get the point.
Ya, got the point, I dont have great credit either so it wouldnt matter. I will just have to save up and wait for the deals. Thanks.
I try to get used fleet vehicles at auction. I pay about $3,000-4,000 for vehicle and keep the accessories to about $500. I look for things like used ladder racks, shelves, toppers etc at auctions. I got my work topper for my F-150 for $300, it retails for $3,000.
My vehicle expenses are about 8.5% of my company income.
We bought ours used at a dealership. It came already with ladder rack and side compartments that lock. I believe it was from cable or electric company. We couldn’t afford new but this was something at least we use that for jobs that are residential and some commercial. We use our car for estimates and any small commercial because the truck is a monster. But I used to sell cars and if you can afford to get one a new one is the best. I sold Chevy’s and they as well as other companies run promos once sometimes twice a year for 0% financing on Silverado’s I think their summer ad just ran out but the end of the year is best. Try to really get them at wholesale with just a little bit extra to throw on a ladder rack. They are all hurting for sales so you can expect a good deal. And usually the fleet department if they have one is the best way to go. On a base model I’ve sold as low as $15,000 otd cash just to get a sale. So whatever you can do just if you get it used the factory warranties are only good for "07 and up models.
Much appreciated, but I dont have 15 large to spend on anything, much less another truck. Maybe someday, but I was thinking along the lines of 2-5 thousand per truck, get it wrapped for another 2 each, then the monthly oil changes tune up, weekly car washes insurance etc…
yeah me too that’s why I had to get used. But for the future when you do just make sure you know you’re credit before you go. Really they’re looking for repos in your credit history people with a 450 score can get a vehicle as long as they have money down. And you can sometimes get around the repo. Usually a dealership can look for a cash car for you at auction. Just tell them specifically what you need out the door. But private party you’ll get the best deal used.
I had a salvage title Ranger - it was repaired and inspected by the state (local regs may differ). It was a great truck, and I bought it for about half the price. I also try and keep my out for salvage titles with little damage, a bumper, fender, headlight, or grill are all simple fixes teh common guy or gal can do. Rangers and Toyotas are perfect work trucks - good on gas, reliable, but if you can spring for the toyota - go that route. I’ve had plenty of toyotas, and have never had any major issues. My first buggy was an 86 Toyota 4 Runner - sold it with 290k on original tranny and motor (get a manual tranny if u can) and I saw the same truck 5 years later, so I followed the guy to a gas station. He let me look it over, 450k on the truck - all stock! Good luck
Maybe you should look into state auctions of repossessed vehicles. That might be a good avenue as I know used car dealerships and mechanics go to those to get cars and trucks for cheaper.
Seriously? So are you saying that you have not established any credit for your company? What happens when the vehicle you bought breaks down and needs $3000 worth of repairs and you don’t have the cash to pay for the repairs? What do you do? Let it sit until you can come up with the money to fix it?
Tory,
I buy Chevy Astro vans (I have 4 total-I’ve owned a total of ten). Basically I find the 8 passenger ones (not the conversion ones with the weird slider glass windows). These vans have the 4.3 liter and are very dependable-300,000 easy if you treat them right. They also are made with some serious galvanized metal and dont rust out as bad. I’ve seen 1987’s driving around without a spot of rust on them.
If I find one that is in good shape, I have a cheap white paint job from Maaco(about $400.00) put on it, letter the glass, ladder racks from Weathergard and you have yourself a very dependable professional looking vehicle. I also really like the idea of keeping your stuff locked up and out of the elements. I dont think that I have spent more than $3,000.00 in any of the ones I own.
I have bought them from private sellers and from dealers. Craigslist is also a great place to look.
Steve
here ,i use a car , a 1997 FIAT BRAVA 1.9 t/diesel. fiat dont have a good name here but the fiat engine is good . i could easily get a van , FORD ESCORT 1.8 diesel is the most popular work van here . but the beauty of the car is that folk think you are a small guy (which i am !) and then theyre not afraid to come and talk to me when im working on the street .iv a couple of "window cleaner " signs in the rear side windows
i bought the Fiat from an old guy ,£700 i didnt haggle . he had pumped quite a bit of new parts into it in his last year with it it has 87ooo miles on it ,probably it will do 150ooo before its time to get rid .my ladders fit inside it and its standard and quite fast .ive a satnav and a safety camera detector and radar detector AND radar jammer fitted as my previous window car i got caught doing 34mph in a 30 limit .
I never said I didn’t have established credit, I said it’s better to pay cash.
get your facts straight
Okay let me get my facts straight! It’s better to pay cash than to use credit becuse you said so?
Why is it better to buy with cash instead of credit?
The reason we don’t pay off our trucks or buy trucks that need some work is being a larger company we need the tax write off at the end of the year. The other thing is I have enough things on my plate with out dealing with truck break downs.
I pay strictly cash on all of my work stuff because I dont like having car payments. Im sure that there is a deduction somewhere for financing a vehicle. I have a $30,000.00 line of business credit through my bank if I chose to use it. Cash is my preference too.
