Always learning 🎯
Interesting conversation with a friend from our hometown this evening.
My friend works for leading trucking company in Central IL in the shop. He has been a service tech for over 30 years.
He discribed how one contact from major truck sales company mentioned there are owner operators bringing trucks back handing over the keys, walking away because they can’t make the payments with current freight rates. How many, we do not know 🤔
We also often discuss the parts and services issues. And again he shared how difficult it is to get parts. New or old but parts issues for older equipment is becoming even more difficult.
I suggest based on real world observations as an owner be prepared in the next 24 months for a repair that may take 4-12 weeks. I have had communication with too many owners who’ve had to deal with this To simply say someone needs to save up for this maybe a somewhat unrealistic goal 🤔
I personally dislike irrational goals. Most owners are going to need available credit.
After all this will likely take $20,000-$60,000 to pay your home bills plus what a repair may cost you above a warrenty.
How long would it take you to save this amount?
Are these numbers realistic?
The ATRI report put repairs and maintenance at about $0.20 per mile or near $18,000 per year. I need to dig in to the survey and see if I can find out if these cost include what a warranty pays for ?
If I remember ATBS repots repairs and maintenance at closer to $0.25 per mile?
My personal experience for repairs was that every 3 years I would have a major repair $8,000-$16,000 now add inflation to this and now these would likely cost about $12,000-$24,000
For me this was only repairs not cost of PM services.
And to add to this last evening at dinner busted with a local banker. He discribed the issues with loans to people who are trying to purchase equipment and interestingly he mention who too many just don’t know their cost or how to track this.
Too many owners just don’t keep good timely records that would potentally help them make wiser decisions.
Any thoughts 🤔
Gary