Walta Posted October 26, 2013 Share Posted October 26, 2013 What am I missing? Why does every one buy used? If you are paying your taxes and you only use this truck for work you can deduct the full price of a new truck at .565 cent per mile. About the time the truck starts needing expensive repairs that are not deductible you get another new one. The way I see it the tax man pays for the truck, almost all my repairs are schedule maintenance and not unplanned emergencies. You do need the cash up front but a lease is the same if not a better tax deal. Walta Link to comment Share on other sites More sharing options...
mission vending Posted October 26, 2013 Share Posted October 26, 2013 What am I missing? Why does every one buy used? If you are paying your taxes and you only use this truck for work you can deduct the full price of a new truck at .565 cent per mile. About the time the truck starts needing expensive repairs that are not deductible you get another new one. The way I see it the tax man pays for the truck, almost all my repairs are schedule maintenance and not unplanned emergencies. You do need the cash up front but a lease is the same if not a better tax deal. Walta Even if its deductable you still gotta have the cash to pay for it or the cash flow to make the payments. The purchase price is deductable up to a certain point (I think its around 17K) above that it needs to be depreciated over several years. Additionally, you can write off your actual expenses OR take the mileage calculation. My last 2 vehicles were new, did them on a lease so I could expense the cost and not have to deal with the depreciation Link to comment Share on other sites More sharing options...
snack dude Posted October 26, 2013 Share Posted October 26, 2013 Example: I have a 98 one ton chevy that I bought for 8 grand cash ten years ago.For the last ten years I have not had a truck payment.My wife drives an 04 suburban that I paid cash for 5 years ago.I would rather put that monthly payment in the bank or my pocket and owe the tax man next year so that money is making for me and not someone else. Now when it comes time to purchase another truck (and I am almost there) I will purwuse craigslist and keep my eyes open and probably pay around 8 grand cash again. So if I buy a new truck at lets say 600.00 a month (quessing here) plus the cost of insurance. 600.00 X 72 months = 43,200 spent on a truck I put 600.00 a month in a mutual fund for emergencies and other things (yes I really put in this amount which is why I picked this number) i have 43,200 saved or spent on things I really want and not a vending truck. So when the time comes I will withdraw 8 to 10 grand maybe for a truck THATS WHY Link to comment Share on other sites More sharing options...
Golfdogs Posted October 26, 2013 Share Posted October 26, 2013 not sure what your trying to ask. we are located in northern ky. Just seeing how close you are to my area. I'm also in KY. Link to comment Share on other sites More sharing options...
TKK Posted October 27, 2013 Author Share Posted October 27, 2013 New wouldnt make any sence. I dont even buy New cars. I used to sell cars for over 3 years. They depreciate too much. Your monthly payment in most cases is the depreciation. So say you paid 5000 in one year thats how much less ur vehicle depreciated. Say I get a sprinter, for 8k in 2-3 years I can still resell for 8k if its all working and still get milage. I always do this get great deals and then resell afyer a while and 80% of the time make a big profit or atleast break even Link to comment Share on other sites More sharing options...
TKK Posted October 27, 2013 Author Share Posted October 27, 2013 In the last 2 years ive had 01 ranger Bought for 1800 used for 4 months Sold for 2850 03 crv Bought for 3000 used for a year Sold for 5200 05 wrangler Bought for 5800 used for a year Sold for 10,500 05 VW jetta Bought for 3200 used for 5 months Sold for 6700 98 VW gti Bought for 1200 Sold for 3500 2003 Celica Bought for 4000 Sold for 5700 05 infinity g35 Bought for 7000 Sold for 10,400 Right now I have 2009 Audi tt Bought for 24000 paid off 3 months ago Used for 2 years Selling for 24500 My 06 frontier ccab 4x4 Paid 11500 two years ago Did add like 5k in upgrades worth 15000 right now My 03 gti 20th aniversarry This one.doesnt make financial sence I paid 12k 5yrs ago, and added like 7000 in upgrades. Probably worth 8k but its my fast toy And now my astro van.paid 3k and trade in they r giving me 3k used it for like 6 months. No losses. Im good at flipping stuff. Last year I flipped 12 quads. Think I paid like a total of 30k and made an easy 45k. Same with Vending machines. Ive spent.only like 30k on my business its grossing 110k right now, netting me 70k, and I have like 18000 worth of machines in my garage I still need to sell, ive recouped about 15k from selling bulk route and a crappy route. Sorry I know its not huge numbers but I usually always profit from everything I do. Link to comment Share on other sites More sharing options...
snack dude Posted October 28, 2013 Share Posted October 28, 2013 this is why you dont buy new...... You would miss the opportunity for cool stuff like this. the wants 5900.00 for it, I will not offer that, but that big golpher lift gate for moving machines is intriguing. Link to comment Share on other sites More sharing options...
TKK Posted October 29, 2013 Author Share Posted October 29, 2013 Drove the sprinter its freaken huge. Has a rear view camera looks super basic. 230k miles. Its a 2003 and its 10995 not 8995. Its way bigger than what I need for sure. Do u guys recommend the Chevy box truck for the same price its a 2009. I cant.find kbb or.nada value for them Link to comment Share on other sites More sharing options...
cashman Posted October 29, 2013 Share Posted October 29, 2013 The Sprinter is bigger then you need today, what happens when you buy another route of say 7-10 more machines next week ? The Sprinter is bigger then you need today, what happens when you buy another route of say 7-10 more machines next week ? Link to comment Share on other sites More sharing options...
moondog Posted October 29, 2013 Share Posted October 29, 2013 this is why you dont buy new...... You would miss the opportunity for cool stuff like this. the wants 5900.00 for it, I will not offer that, but that big golpher lift gate for moving machines is intriguing. Hell - add a shower and a microwave and I could live in that thing ................... I too am a sucker for the lift gate Snap On Vending ? (doesn't really "ring") Link to comment Share on other sites More sharing options...
AZVendor Posted October 29, 2013 Share Posted October 29, 2013 Drove the sprinter its freaken huge. Has a rear view camera looks super basic. 230k miles. Its a 2003 and its 10995 not 8995. Its way bigger than what I need for sure. Do u guys recommend the Chevy box truck for the same price its a 2009. I cant.find kbb or.nada value for them I forgot that you won't find any commercial vehicles at KBB.com. All you can do is look through truck trader or check the inventories of commercial vehicle dealers for comps. Link to comment Share on other sites More sharing options...
TKK Posted October 31, 2013 Author Share Posted October 31, 2013 I think a box truck and sprinter may not be good as I have to get commercial ins which kinda takes away the purpose. Anyone know if this is a good deal? Diesel 92000 miles http://elpaso.en.craigslist.org/ctd/4115842253.html Link to comment Share on other sites More sharing options...
Golfdogs Posted October 31, 2013 Share Posted October 31, 2013 I think a box truck and sprinter may not be good as I have to get commercial ins which kinda takes away the purpose. Anyone know if this is a good deal? Diesel 92000 miles http://elpaso.en.craigslist.org/ctd/4115842253.html I think this could be a good deal. Have them include a trailer hitch. Why wouldn't you need commercial ins on this box truck? Link to comment Share on other sites More sharing options...
TKK Posted October 31, 2013 Author Share Posted October 31, 2013 Well my astro is under personal insurance and half business so its more than normal but full.commercial.would be an extra 120 a month Link to comment Share on other sites More sharing options...
AZVendor Posted October 31, 2013 Share Posted October 31, 2013 Well my astro is under personal insurance and half business so its more than normal but full.commercial.would be an extra 120 a month Speak to an insurance broker and have them shop a business policy for you. You can get a high limit business liability policy (no business owner should be without one) and a high limit vehicle policy for a pretty fair price. I pay under $2000/yr for both because I can't afford to not have proper insurance. If you don't have an appropriate policy the insurance company will reject any claims, so having a personal/business policy might not be smart. I have a vending customer who had a kid climb on his machine and fall off, breaking a body part of some kind. He and Coke were sued for $3M and lost. He had let his business insurance lapse so there was no liability coverage, and now he has to file bankruptcy because of the judgement. Link to comment Share on other sites More sharing options...
TKK Posted October 31, 2013 Author Share Posted October 31, 2013 That sucks. I have a business policy for 1million covers if I get sued or hurt someone or damage Link to comment Share on other sites More sharing options...
CajunCandy Posted November 1, 2013 Share Posted November 1, 2013 This looks like a good deal. http://batonrouge.craigslist.org/ctd/4151964839.html Link to comment Share on other sites More sharing options...
mission vending Posted November 1, 2013 Share Posted November 1, 2013 That sucks. I have a business policy for 1million covers if I get sued or hurt someone or damage At the rate you are growing you will need the larger vehicle soon anyway. Get yourself self a good commercial vehicle insurance policy AND keep the business liability policy. Sure it sucks to spend the extra bucks as a small business but on the other hand you could wind up like the guy mentioned by AZ. That sucks. I have a business policy for 1million covers if I get sued or hurt someone or damage At the rate you are growing you will need the larger vehicle soon anyway. Get yourself self a good commercial vehicle insurance policy AND keep the business liability policy. Sure it sucks to spend the extra bucks as a small business but on the other hand you could wind up like the guy mentioned by AZ. Link to comment Share on other sites More sharing options...
TKK Posted November 1, 2013 Author Share Posted November 1, 2013 Think im going for a Chevy express 3500. Will post an update Link to comment Share on other sites More sharing options...
TKK Posted November 2, 2013 Author Share Posted November 2, 2013 Ok so im almost ready to buy tomorrow 2007 express 3500 drove great Til I find out its the 6.0 lol no wonder it hauled. Although thats more power than I ever wanted, my route is 500 miles a month. Im sure in a year id spend maybe 100 more or so. Its also the extended. Power Windows and locks. 125k miles never wrecked I checked the autocheck from my ex co workers. He wanted 11995 cuz.its super clean but I offered 9k. He said no and called me back saying we have a deal. Trading in the astro for 2500. So im left with 6500. It was for inmates as it has benches and a ton of expensive stuff I dont need. Has rear ac and Windows extremely tinted. Drives great. They r fixing some stuff for me removing all that hardware and stripping it then for free adding 3-4 shelve units I get to pick em off any of their used vans Link to comment Share on other sites More sharing options...
TKK Posted November 2, 2013 Author Share Posted November 2, 2013 Should I move on this 6.0 or wait for a 4.8? Link to comment Share on other sites More sharing options...
AZVendor Posted November 2, 2013 Share Posted November 2, 2013 From your description this would be a great vehicle for you. All of the comfort features, the extended body, the windows (I like the bars) and the fact they will put shelving in it for you is a good deal. I presume by a 6.0 engine you are referring to the gas motor. I wouldn't put anything smaller in it because of the potential weight you will be carrying. The 6.0 gas motor is very good, it runs strong and is efficient on fuel for a V8. Link to comment Share on other sites More sharing options...
CajunCandy Posted November 2, 2013 Share Posted November 2, 2013 Definitely enough power TKK, plus with plenty of room. I would say go for it! Link to comment Share on other sites More sharing options...
TKK Posted November 3, 2013 Author Share Posted November 3, 2013 Ok guys so I changed my mind. My back has been hurting im guessing due to crawling awkwardly. So im getting this box truck I already put a deposit and pick up Monday! Commercial insurance is just $60 a month. 2009 Chevy g3500 189000 miles (I know) $11,999 dropped down to $10,000 I believe it is a 10 to 12 feet box what's crazy is it drives great it turns a lot easier than the Express Van it drives like my Astro and it actually has a 4.8 liter engine I would have really prefer the 6.0 liter engine but I'm guessing it might still be enough they are giving me 3200 for my Astro which is great so I will only be financing about 6800 I love how spaceY is it is and how I can stand up on it and that I can put regular shelves It belonged to dish network and an autocheck revealed a 3000 mile oil change everytime, off by 5-20 miles! Has all the features like mpg etc has the New style dashboard. Turns like my astro I can actually do a uturn. I drove it for 30 miles freeway average mpg was 18 Link to comment Share on other sites More sharing options...
AZVendor Posted November 3, 2013 Share Posted November 3, 2013 Good choice! You will have lots of room to grow into. Build your bottom shelves from wood framing and angled toward the walls so the cases don't slide off. Slightly angle your other shelves as well and then you won't need any bungee cords or other methods to restrain your products. You should think about an Omni cooler like RJT has in his to keep your candy in and then you won't need ice chests for candy. Link to comment Share on other sites More sharing options...
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