When & Why to Buy a New Truck

I would rather see a tool truck like yours pull up to my job than a shiny new fancy truck - rightly or wrongly it would generate a level of trust in me that a guy with your truck really knows whats what

"Chrome won't get you home." What a great statement for life

All these 80-100k trucks driving around where I live it blows my mind.

One of my first mentors taught me, "Never take on debt unless it creates positive cash flow" and I've followed that mantra my entire life

I'm 80 years old. This presentation is totally important. I hope everyone takes your advice and listens carefully to this thinking and doing!! I haven't had any debt in 40 years. I feel a whole lot more secure today than ever in my life.

Literally just totalled my 1996 F350 yesterday. This has confirmed thoughts I've already had and altered and improved a number of others. Thank you. I was originally thinking of getting something much newer and more expensive but I just ran across a 1995 F350 for cheap with a few bad parts that I can swap out of my totaled truck and end up with a better truck than what I had using the same amount of money I spent on the truck I had.

So very, very true. Where i am it's a 60/40 split. The 60 are driving around madly, rushing, stressing and cutting corners in their shiny new vehicle. 40% are putting in the time and energy to achieve the best possible result at a rate that reflects their quality of work, then heading home to collect the kids from school on the way, stress free, happy and proud of their work and their choices.

I am a farmer and I have older equipment. I have not had any issues with people looking down on it, other than implement dealers. No problem selling my hay. As a person who sometimes hires contractors, all I want to see is a clean and well maintained work truck/van. New doesn't mean that much to me personally.

Yup. Years ago while working for a banker in an affluent part of town where most driveways had new recreational vehicles, he made the observation that most of them were one paycheck away from disaster. Great wisdom Scott. We all need to understand how the interest monster works so it can work for us.

You and Dave Ramsey are 100% correct. Your philosophies work!

Finally someone said it! This is a very valuable video for younger guys like myself to come across. Thank you sir.

I bought a new truck last year, but it was already five years old. My mom is a contractor and she drives a 1995 Dodge 2500 with the Cummins. It looks pretty nice for a 1995 but it’s obvious that it’s an old well used truck. But she has more work than she can do and turns down so much work. It’s crazy. She invested and training, tools, and relationships. She apprentice for a couple of years under one of the best tile and floor people in the area and eventually surpassed him. She has all the tools to make the job easy for floor or tile related. And the quality of her work and her commitment to the customer have made her well sought after by the top-tier homebuilders.

Good thing about having older equipment is learning how to fix it and that also saves you money

Been a subscriber for a long while. My whole career has been a forestry professional, the last 30 years of that as a contractor. I’ve witnessed time and time again the same mistakes with new forestry contractors. The first thing they do is buy the contractor special “4x4 crew cab diesel” then comes the bling for it with aftermarket wheels and tires. Then the travel trailer, then the nice SUV for their wife. One of the best pieces of advice when I started my business was keep the overheads low. I shared your video with my grandson who starts community college in September to get into the electrical trade. His objective is to be self employed. Thanks for sharing such sage advice. 🇨🇦

I used to work in auto sales. That whole thing about losing 20 or 25 percent in value when you drive it off the lot is misleading. In reality. That percentage is profit to the dealer… the “value” was never there.

I live in the pick up truck capital of the world. Edmonton, Alberta. I am always astounded at the amount of money put into tires, wheels and lift kits. As if that will make you a better contractor. Most of them never see anything but asphalt. Right off the get go they are down about $8,000 for what amounts to nothing gained. Great comments in the video. Best truck is a paid for truck.

I am very reluctant to hire a contractor with a raised truck with big wheels and tires. Their poor decision making undermines my confidence.

1.38+ million subscribers? I can see why. Straight forward, clear thinking stand-up kinda guy. Just became a subscriber. Well done.

My little mobile mechanic business has always been out of my 96 subaru wagon. I can't take everything needed to tackle every job, but I change the loadout at my shop as needed, and have the heavy stuff like a press at the shop. Bought the car for $1000 in '16.

As a retired CPA, your advice is sound and also applies to consumers as well.