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buy new(er) truck or buy old(er)

Discussion in 'Commercial Snow Removal' started by kwegman003, Sep 28, 2007.

  1. kwegman003

    kwegman003 Member
    Messages: 65

    I have a problem on my hands and I dont know that there is an answer. I am in college and have started a driveway sealing biz in the summer, and looking to plow for my second winter this year. Last year I used my fathers 1994 2500 w/ western plow. He is looking to use that this year because we took on a 35000 square foot bank that loves a clean salted lot.

    I have been looking for trucks for a few weeks and cant find anything great. Should I look for a newer f250/f350/2500/3500 for $10000, and have to work all winter paying off the $5000 I would owe. Or should I look to buy an older truck with a plow for about $2500 and save the rest of my money.

    I am thinking older may be better because then I can look for a cheap truck in the spring, have no debt, and make a a ton of money for a college kid rather than paying for a truck all winter.

    ANY OPINIONS are appreciated. Thanks everyone love the site. I wish the leaves were off the trees and the snow was coming.
     
  2. ABES

    ABES PlowSite.com Addict
    from MN
    Messages: 1,322

    if i was you i would buy older this past summer i bought a newer truck for $8300 i paid for the truck in cash but i still have just as many problems as older trucks. and now i cant get a plow for this winter partly because i dont have a whole hell of a lot in savings to spend or repairs fuel insurance etc.
     
  3. kwegman003

    kwegman003 Member
    Messages: 65

    I wanted a newer truck to avoid repairs and gain reliability, but for 10000 you still dont get much in a plow truck. for 3000 I would save 7000 for repairs or profit I would think. not that I would stick 7000 in a 3000 truck. I wish I didnt sell my 87 scottsdale to our mechanic with a plow for 1500, granted it had a spark plug snapped off in the engine.
     
  4. ChicagoSnow

    ChicagoSnow Senior Member
    Messages: 231

    Either way you will spend money on repair, maintenance and the various "un-knowns" that the previous owner forgot to tell you about.

    Figure between $2,000 - $5,000 on average/per year for a 3/4 - 1 ton pick up truck (used for plowing and salt spreading). Even if you bought brand new, the cost of the installment payment(if financed) would also work out to include the $2-$5K per year over a 10 year old truck investment.

    I will say that some years you seem to get lucky with a lack of repairs, but all of a sudden............ you give it all back-plus some!

    As much as I love trucks and the money they generate, they are a depreciating asset that must be continually scrutinized for productivity and actual cost of ownership.

    Joe
     
  5. bribrius

    bribrius PlowSite.com Addict
    Messages: 1,609


    good post and right on! in maine we are a bit high on sales tax and numerous excise taxes when you register based on vehicle value. so depending on what state i could see these being a added concern along with paying interest and payments on a new truck. if i lived in another state i might be more inclined to buy brand new. run it doing nothing but changing the oil with the cheapest oil i could find every year or two. run it right until its almost in the ground without fixing a thing and trade it before the tranny falls out for another new one. no maintainance at all helps pay for the costs of the interest, and or depreciation somewhat. and everyone goes by book value not regular maintainance it seems like. since im in maine though and dont like paying extra taxes and fees i bought my last one used. paid cash. and am running synthetiic oil.