Mike Andes warns service business owners against buying expensive new trucks. A single tail light can cost $1,500 to replace, and a punctured side panel can tank a truck's value from six figures down to $30,000.
Mike Andes
December 28, 2023
$30,000
$1,500
Just because a business has fancy trucks, a whole bunch of employees, and looks really good on the outside does not mean that it's not literally on the verge of bankruptcy, lots of debt, and about to close down next week. This is why I don't recommend buying brand new, really expensive trucks. When you're in the home service industries, you're dealing with dirt, rocks, and a bunch of trailers that could potentially damage the truck. And now all of a sudden, it's only worth $30,000 because you punctured a hole in the side of it when you jackknife the trailer. Also, just that one tail light is gonna cost $1,500 just to repair and get it working again.
