It has been unrealistic to think about a trailer or truck purchase with the last two years having been a challenge full of uncertainty and chaos. We have chartered unknown waters with Covid shutdowns and alot of us are still reeling from the aftermath of it all. Many of us worked through it all but many lost their jobs, started new ones or started their own business.
If you had asked anyone three years ago “What do you think the future holds?,” it would have been blue skies and sunny beaches. A future so bright you had to wear shades. No one would have predicted rampant inflation, supply chain issues, five dollar a gallon diesel, shortages, and a possible recession.
As an owner operator of a Hotshot trucking authority and administrator of a network of hotshot social media groups, I have had a front seat to all the changes and ups and downs of the markets. There are steel and wood shortages, price increases, and availability of most of the key components in the manufacturing of trucks, trailers, and parts.
Avoid Inflation and Scammers
Less than two years ago, the price of a brake assembly was around two hundred for my trailer. Now, they are going for north of five hundred dollars. That is if you can find them at times. I paid $16k for my 40 ft. 25 GN BigTex trailer in 2019 and now they are going for close to $30 grand I am told. Used are going for what I paid new.
The availability of trailers was so limited and the lead time for new ones, were at one time, a year wait. I started our Gooseneck Trailers & Flatbeds Buy & Sell group almost one year ago to the day and we currently have 86.2 thousand members. We saw a need for new and used trailers and an easy way to find them. We encouraged members to capitalize on the demand and capitalize they have. The group has been wildly successful. Trailers are bought and sold off this group daily.
We eventually had to turn down all lenders and financial posts and look for credible and reputable businesses that we could refer our members to.
As the world turned ushering in this new era of uncertainty… another infestation was festering and spreading. The influx of scammers, fraud, fake businesses, and financial fraud. Here and overseas, many countries and less scrupulous individuals figured out that Americans were easily duped. We trusted social media. Our Nation had turned into one that did our business online and did not see the threat it posed.
We started having to monitor full time all the scam attempts and had to limit the types of posts we could trust. We eventually had to turn down all lenders and financial posts and look for credible and reputable businesses that we could refer our members to.
Hotshot-USA proudly have become partnered with many of the great mainstays of our industry, CM Truck Beds, BigTex Trailers, Insurance companies, Dispatch companies, Dodge dealers, and more. We found an equipment funding company that would work with all types of industries (Trucking, Hotshot, Farming, construction, manufacturing, etc.) and had the experience and the resources. We were needing them now and you need them today. Let me explain why.
The Time Has Never Been Better To Make That Truck Or Trailer Purchase
The time has never been better than today to make that equipment purchase, trailer or truck upgrade, to invest in your company and future. Pure common sense and logic. Numbers speak and they seldom lie.
A well-known financial leader, Kiplinger, a Washington, D.C.-based publisher of business forecasts and personal finance advice had just published a report telling us what we could expect this year. I am not going to bore you with the whole report but let me give you the key points.
- The Federal Reserve raised its short-term interest rate by three-quarters of a percentage point today, its largest hike since 1994.
- Expect another three-quarter-point rate hike at the Fed’s next meeting on July 27.
- The inflation rate unexpectedly accelerated last month to 41-year highs.
- In its so-called dot-plot forecast of benchmark interest rates, the Fed indicated it planned to raise the fed funds rate to a midrange of 3.4% by the end of this year and to 3.8% by the end of 2023.
Do the math, if you spend $70,000 for a truck or $30,000 for a new trailer, new tractor or forklift, and the Fed’s raises it funds rate, do you know what that will do to the rate of a loan? Banks and lenders must make a profit too. We could be talking huge rates increases. Do you want to make the mistake of saying, I should have bought that new truck three months ago before interest rates jumped up so high? Many new homeowners are saying that right now. It makes good business sense to make that purchase now.
How and Where To Make Your Truck Or Trailer Purchase
So, I started looking for the best company. A company that we could stand behind and guarantee that you are dealing with a reputable and worthy credit provider. I did some research and asked a very large Trailer manufacturer who was the best. They said Amur Financial. I started communicating with Bill Roden, their representative, and eventually conferred with their management.
They are no lightweights and leaders in their field. A real asset for all of us that we can depend on, ask questions and get answers. You can find Amur Financial and Bill’s contact info on our website. Or email/message us and we will put you in contact with them. Take advantage of members special financing.
When it comes to finding the right trailer, dump trailer or service and equipment… we have found the best of the best. A business that I have been sending my friends, driver, and family to for years. The Trailer Guys in Trenton, Texas, with three locations, is our recommended dealer of many of the best brands. Why do I say this? They have the best prices, best people, and best service available for all brands of trailers. Good people that will work with you, know their stuff.
They have every accessory and can install and service them. They even do marker lights… something that I looked far and wide to have done. I believe in being seen. Chase Gregory of The Trailer Guys recently told me that there’s just about nothing they haven’t done to a trailer. The service techs have been with them for years and understand your trailer and our business. I stand behind them as our preferred choice in this field.
Not only do they sell Gooseneck CDL and Non CDL trailers but they also know about them. They know about derating, what is legal, and what you need. Not many can give you the right advice. They also carry several types of products specializing in hotshot and air ride trailers, dump trailers, car haulers and equipment trailers. They carry a wide range of cargo/enclosed trailers, utility trailers, cattle trailers and used trailers of all types.
If you’re going to buy a new trailer or truck, buy a new one. Prices have come back down on new and used ones continue to take advantage of a sellers’ market. Don’t be fooled. Why buy something you have no idea of what it has been through. Our business is tough on them. Get something with a warranty and make your money.
Now all I can do is give you my opinion. This is my take on the state of Hotshot trucking and running your business. You must make that decision yourself; I can only hope that I am helping you get a leg up and to help you survive the long-term changes to our market. To me, it amounts to this analogy, If I had told you that diesel was going to go up and you could buy as much as you wanted to and store it, you would have thanked me for this. I know that isn’t practical, i’m just generally speaking.
We also can direct you to expert Truck dealers and Commercial insurance that are specialists in our industry for Hotshot Trucking. Visit our Business Spotlight at Hotshot-USA.com. They are ready to help you.
