ENTERPRISE - Renting vs Buying
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- เผยแพร่เมื่อ 14 มี.ค. 2021
- In this video I'll cover my decision to stick with Enterprise this go around after debating for long while about buying a truck. After a lot of back and forth and number crunching I chose to stay with the rental for now!
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This is what I want to know about the business. Someone that has been down that road. Now he is paving the road so others don’t make that mistake. This guy is real and lived it people! Not looking for views on TH-cam. Love the videos straight shooter no bs.
yes
We use older trucks and buy extended warranties on them up front. Our policies cover a rental while our trucks are in the shop, so no real down time.
That’s a smart move there. 👍
Other than enterprise, who else would have a dually pickup readily available in your situation?
@@azaelramos8213 Only Enterprise.
Makes sense!!!!!!
And when they got you with the "there are no avaliability pickups in your area" then what do you do? Because 3500 with a 5th wheel hitch are usually not.
I needed to hear this, my grandfather always told me don't be ashamed to ask someone directions to a destination you want to get to and where he has already been!
That’s a great one! I will definitely save it
Great information and insight right here folks. Pay attention, take notes and watch this video with an open mind. There's something in here for everybody to learn no matter what your situation is.
I love the way you do things man. Simple, honest and you keep it real. No unnecessary glitter and fame, just good useful information, every single time. 👌🏼
Congrats on your success and congrats on 10K subscribers!
And your intro and outro have always been killer!!
Thanks again man. You pack in the knowledge and answer a lot of questions for us looking to get into the business. Keep on trucking.
Appreciate your transparency
Excellent points and very well presented.
Wishing you continued success!
Man, thank you. I'm stepping off the semi to start a hot shot business and I've been binging on your videos. I just about made an $80k mistake & bought my own truck. So, again, thank you!
Good info! Everyone's situation may be different...it's important to consider all aspects before deciding one way or another. And as situations change, you may need to reevaluate your choices. I'm using a 1999 F350...my 2nd one. I'm hoping for a semi someday...time will tell. Stay safe and keep the videos coming!
Thank you so much for this video! I am at that crossroad right now and trying to figure "what's wrong with leasing?" Thanks again for keeping it real!
Seeing you talking like this made me decide going with the rental.Thanks
Good info LM......always enjoy the videos...stay safe:)
Yeah the 33k in maintenance account was all I needed to hear. Very Informative.
This brother always gives you the meat and potatoes in hot shot trucking. Thank you for sharing your personal knowledge and experiences..
Absolutely man, imagine where we’d be if we all helped each other
I called Enterprise today to check on their rental program. The local guy said that you had to go through the Elkhart Enterprise they're the only ones that least dually trucks. He also mentioned that Enterprise is talking about doing away with the dually program because they're depreciating the truck so fast. Just letting you know what I found out today.
You nailed it there near the end. To each his own everyone has there own financial situations. You can run the numbers all day long but in the end there your numbers, it’s what works for you. I have a 2020 Ram with 100lk plus , I own it and it works for me. Peace out!
That’s just it. I’m not putting these out as set in stone instructions. These are just hows and whys of what works for me and highlighting things to consider. 👍
Cant argue with truth and facts . I've watched some of these other youtubers really struggle to do it all themselves. 👍
Awesome advice. Thanks so much!
First off I’d like to say I do enjoy your video’s. Your straight to the point and seem to be honest and very genuine.
I was running under someone else for a few months, non CDL and now I’ve applied for my own numbers. I’ve driven trucks all my life, I’m 55 years old. I’m a strong believer in preventive maintenance. Definitely not always but I bet it’s as high as 80 to 90 percent of the time that truck will give you some kind of sign or slight noise or something that something needs some attention. I’ve put more then 300,000 miles on more then 2 or 3 trucks and knock on wood I’ve not been stranded on the side of the road much at all in all my years of driving. Just my input on this. Not saying the enterprise thing is bad but paying close attention to your vehicle may save some people a little money.
Great video keep up the good work.
This is good information because i am a disabled veratrin and I need to find out other ways of generating my in come and I have an interest in the business. Tank you for you time brother
I respect this video so much! It’s not about the truck it’s about the TOOL to get the job done! I’m going to brainstorm some possible solutions for me to be able to sell you a truck! GREAT CONTENT!
This is smart , and I feel him.
Very informative video and what you stated about your bankruptcy is the reason I never became a owner op when I was driving truck. I wanted to but I didn't have that extra capital.
Thanks for all the information bro...!
Thank you for the honest facts and opinions
Thank you for this video.
Good info, as always, brother..
I am really liking your videos. I like how you say how it is the good and the bad. I am still preparing and craming in all the info while I wait for my truck and trailer both are on order and around 12 weeks before they get here. It's crazy Noone even has a truck on the lot. Enterprise called me and has a truck for me in 2 weeks for rent but can't find the trailer so it's on order
It’s a mad dash sometimes but it’s a great way to make money if you can get it all figured out. Good luck to you man! 💪👍
Haters always gonna hate, people are always gonna tell you what they did, so just keep doing you man! That’s all you need to do. Document the journey, and the ones who find it important will follow and learn as well, the others will just be internet trolls! Good video!
Thank you 👍
Thanks for the advice
Thank You..these are ALL Facts no beating around the Bush
Great video! Thanks!
Very helpful video!!! Thanks!!!
Thanks for the perspective.
Thanks for ALWAYS BEING (REAL)!!!!
Great video I have done this many times when working out of town rent a truck or van your right it's a tool to make you money 👍
This is good advice . Very smart . Rent that bad boy and run like the wind , stack up cash and let enterprise pay for the vehicle
Thanks for sharing not only what you do but also for sharing the insight from your own real world experiences as to why you make the decisions you make and why those decisions work for you!!
That’s what I wish more could see. These aren’t theories I have or something I can make look good on paper. This is experience. I’ve made a ton of mistakes. I’m still paying for some of them. Just trying to show people how to avoid the hard road lol
@@LoadMizer Million Billion thanks!! haha
That number..... “able to replace everything” .... that’s what I’ve been trying to figure out. Keep asking myself when can I relax!!! You can’t if you own the truck..... I totally get what your saying 100%
It seems like just when you think you can relax...everything starts to break 😂
I run a 45’ 5100 gallon tanker hauling brine. The company I work for owns the trailer but leases the tractor from Ryder. Being a retired equipment mechanic I was thinking the company was completely off base with this. My boss talked to me about it. We are in the water conditioning business, not the truck maintenance business. Our lease covers all maintenance, all tire repairs and towing (even trailer TP). If my truck is down more then 5 hours I get a loaner. I can see why they go this way now. Sometimes a piece of mind and your company able to concentrate on what they do is worth a few bucks a month.
Your company isn’t alone there. There are a ton of fleets that operate that way.
Many major companies lease. And you are spot on with down time
Great info TY
Yup! I do this now I hope all is well with you and you’re business.
Good info, thanks
Great Video! Thank ya sir
I love his honesty…if someone admits they have bad credit and a bankruptcy, I can trust this person
As long as nobody gets hurt, bad decisions are the best lessons if you can recognize and learn from them 👍
Thank you for sharing this information. I am currently in a CDL training program and I am looking at driving for a company or for myself. The cost of running a trucking company has me leaning to being a company driver, but if renting a truck could save money in operation cost, it may be worth it. I would really enjoy being in business for myself. Seems like renting a truck solves a lot of down time issues due to truck break down. There is a lot learn still. Thanks!
Thank you for the video
Love the honesty as always Ricky, give it to em straight. At the end of the day these trucks are tools of the trade Semi or Hotshot so if the method you're using works for you and makes you a good profit why change it? Keep the wheels turning and stay safe man 👍 👍 😎.
That’s right. It’s so simple that it’s actually complicated to explain lol
@@LoadMizer It's easy for people to complain and pass judgement from behind a computer or cell phone screen, the game changes when you're out here grinding everyday.
It’s starting to not get to me as much anymore lol.
Load Mizer thanks for the video I notice a lot of these YOU tube HOTSHOT guys turning in their trucks and trailers & getting Semi Trucks a lot more money and a lot more issues stay SaFe SiR!!!
He makes a lot of sense
I was just about to buy a sweet ram 5500... been on the fence about leasing, but you have me convinced now 👌🏻
Definitely weigh both options down to the penny. Hopefully this just helped you see renting isn’t really the expensive money pit some view it as. It has its pros and cons but so does purchasing one. 👍
So I’ve learned that the only enterprise that does that leasing program is in Indiana and they have the program on hold rn... there’s a waiting list til august
I’ve contacted 2 other branches in 2 other states about it. They’re not going to be large scale but there are others that offer a long term truck rental. You’ll just have to call locations.
@@LoadMizer can you please tell the other location, I'm looking for rent. thanks
I have been in business for a lifetime and I can guarantee that you will grow your business to any size that you desire because you have the head for business. Most successful people in business have been through bankruptcy and have used that experience to make better decisions in the future. I can see that you are a fast learner and a stickler for detail, you will be whatever you want in the future...
I appreciate that a lot. The bankruptcy experience was one I will never forget and also one I will never intentionally repeat. I learned more from failure than I ever would have imagined about business sense. That’s why I’m choosing to grow my freight base instead of my fleet. I have no need for more trucks if I can’t feed them freight directly.
This is exactly what I was thinking! I'm just starting out and one huge repair bill with a long downtime would end the job for me. Once I got some money saved just for the unexpected, maybe Ill reconsider buying. As the business owner, my main concern would be the cost versus benefit numbers. The truck becomes an asset when it provides you with more income than expense. I would love to see a cost comparison over 1 year or more of both owning and renting including any downtime for repairs. I wonder how much of a difference the lack of an auxiliary tank would be?
I currently have a factory job lined up, it pays pretty good, up to over $1600 a week, I tour the plant Friday and talk to the plant manager.
My plan is to work there, buy and older truck and go through it, make sure it's mechanically sound, but a new step deck, save for everything I need to start the MC and get started, and, and this is the important part. Save enough to cover me incase I do break down and have a big repair bill for a long length if time.
Then when gas prices are sane again I'll probably start doing this then.
An old truck is just as reliable or more than these new trucks, especially if you rebuild the engine and refresh the parts that will probably give you down time.
At the end of the day everybody's going to have their own opinion and that's what his video is about, his opinion. We all are open to taking his advice or not taking his advice. I'm still partial on leasing because I want a mega cab or I want a 4500 which Enterprise does not offer but I'm still doing my research and weighing my options.
That’s it. This industry has to be custom fit to each individual person in order for it to work. My videos for the most part aren’t a guideline set in stone. It’s just what works for me. Everybody has to do their own research. My vids just help highlight what to consider 👍
Thank you saved me thousands🙏
Great video Ricky methodical as ever 🇬🇧🇺🇸👍
Thank you sir!
FACTS! I was down and pretty much had to go out and get new truck in order to keep going! And DAMN they didn’t even put some tints on the back windows!!! 😳 these trucks are really an “enterprise special order” they called Ram and put the BARE BARE basics in those trucks!
It’s sad really considering what these are meant to do. Not really the hotshot game but most of these trucks go to drivers pulling RVs
I carry a computer diagnostic at all times sensors and hoses stock up on the common parts that go bad on whatever truck you have I know Cummins always has egr and vgt failures also that knox sensor
One thing to think about as well depreciation. If I buy a $75,000 on a truck what will it be worth in a year with 75,000 miles on it? I'm thinking you will lose about $30,000 at best case maybe more. If you do the math that would cost you $2500 per month that you most likely will be paying for in more ways than one. Thanks for the video it makes my choice clear..
Well said brother
11:45 mark. Bam! 👊🏼 Cold hard fact!
How many miles do they allow you? Thanks for your videos. I’m new to this and learned a lot from you
Hey bud, thanks for that advice! I'm moving from where I live to Indiana with my wife and trying to decide once I get there, stay working as Caterpillar technician or get into hotshot/semi trucking... buying or leasing... If there's something you could tell me to help me decide or see what I should do?
I have a bazillion questions on this one. Starting with this, do you do a multi year lease through Enterprise Fleet Services or are you doing long term rentals through their truck rental side?
I'm going through it right now going on 2 weeks waiting for parts but I work on my own stuff n I can afford parts thank God.
That’s a major benefit man. Diesel mechanic is not even almost my specialty lol. If it had a heart and lived in the woods I could drop it with a bow from 55 yards without hesitating but that doesn’t help me much out here on the road 🤣
@@LoadMizer lol be safe out there
Which enterprise location did you use boss
There only seems to be 1 or 2 in the country that still offer hotshot programs through enterprise
Looking at all my options
Thanks for all the helpful videos
I would like to see the actual cost and break down If you drive 350-400 so say 375 a day 5 days a week so for the month that would be 7500 miles
Just like racing....if you can't afford to blow it up, you can't afford to race it
I tried going with Enterprise..
waited over a year, no trucks available. Finally 3 months ago, just went and bought one. Bought more truck than I needed to hedge my bet against wearing it out so quickly. Am now the owner of a 2020 Ram 4X4 chassis cab 4500. 21K miles so far, fingers crossed 🤞
I need a chassis cab so bad lol
How are repairs after a few months
God Bless Load Mizer
Great Video! Thanks for sharing with us. One question, once you get your lease, and lets say in a few months, you feel this was not for you, can you turn in the lease without repercussions?
You sign a 12 month contract for a long term rental and if you turn it in early it’s 11% of the base rate for each month not used. It actually isn’t bad. Phone plans gig you for more than that lol.
@@LoadMizer LOL, Thank you Load Mizer for your prompt response. I agree with you that leasing is the best option. Be safe out there and may almighty God keep you and your family safe!
Thanks for the pov. What mods can you make to the rental? Aux fuel cell? Box delete? Fifth wheel?
From what I was told, as long as it’s back to factory when you return it then you’re good to go.
I'm looking to enter this industry with my CDL. Do you have a video or information on what number to call to call enterprise and start this process?
got my CDL , had some money saved up for truck trailer & equipment but this scared me. It made me want to lease with enterprise but they’ve put a hold on the lease program. Does anyone know other leasing programs out there ? been looking around can’t find anything
How can I lease a truck? I tried looking online but seems like it's not an option or maybe I'm not looking correctly. I'm in Texas. I saw some other video of someone mentioning a number and person to call but not sure if that's a good choice.
So how is that triple axle trailer treating you? used to a tandem dual just seeing how it handles and wear and tear
I haven’t had any issues out of it but it just seems so weak on turns and hitting bumps in the road. Holding up surprisingly well. I’d still much rather have dual tandems.
How did you get your authority connected to the enterprise rental? Im trying to get mine but all the things i need enterprise has it ?
Thank you for opening up. I am about to get started on leasing a truck from Enterprise. Any way I can reach you on the phone for more insight?
Good morning.
Do you have to info on how to get a truck from enterprise.
I have been calling their local office, but they have no idea what I'm talking about.
What you think about the cyber truck will it for towing 2 cars tesla claims 14000 pounds of towing capacity
I think time and distance per full charge would be the key issue under stress like that. 2nd would be recharge time/cost per day
Can you tell me about any other rental companies besides enterprise rental?
I just talked to enterprise today and for a month the truck is 2533.20 for the month to month with 3000 miles so I told them I'll do 6500 all together so they adding 3500 x .22(per mile) and bought that total to 3300 so that would be the monthly cost for the truck. Plus the 1000 deposit.
$3300 per month? ROFL. Time to just go get a $70-80k/yr trucking job and leave this owner op bullshit alone.
Does it cost you anything if you break down while renting from Enteprise? Getting a tow back to home base?
The truck would be covered to tow. You’d most likely be responsible for the trailer. Not sure though I haven’t broken down.
I would love to know if they offered you the multi year lease or long lease term discounts cus my boxes are about 2400 a month not including mileage. I agree I love that I have maintenance included but I think I can do better on the price of 8k for three box trucks. Thanks for your help!
Hey anyway I could contact you with questions about your box truck business ? Looking to get started soon
Do they have auxiliary tanks on the enterprise trucks ?
No just the factory tank under the bed.
Dose all cost for repairs including tires come from enterprise?
That stress of constantly worrying about breaking down isn't worth buying
The road conditions over the last 10 years have made sure that your equipment most definitely will break. The only question is when.
tent or lease from Enterprise?
Can you buy business insurance that covers the time lost during a breakdown?
I’ve never heard of that personally but I would assume that in most cases if that were a thing, it would cost more to claim than it would to eat the loss.
Are the enterprise trucks pre set up for gooseneck trailers?
They have a rail system installed for a 5th wheel or gooseneck plate. You have to buy either a 5th wheel hitch or a gooseneck ball plate yourself.
You know you want a sweet f550
Lol , shit , I do!!! Lol
But does the enterprise rentals come with the 5th wheel or gooseneck
Up to you, they come with the rail system installed in the bed. It’s up to you to buy either the gooseneck plate or the 5th wheel 👍
I'd.love to know, on average, how many miles are you or other hot shot truckers running every month? I mean if it's 3k a week (is that realistic?) Then that's 152k miles a year....so a truck will last like 2 years? And they're like 80-100k....am I missing something?
who do you rent from, I'm very interested in driving but don't have a 1 ton truck
How much would you say to have saved up to start with a paid for truck and trailer?
Minimum 3 months living and business expenses
Renting is a full deduction at the end of the year? Can you share the tax benefits of renting?
What city offers your rates?
That’s right? The entire cost of renting can be written off. Another perk is that you can use Enterprise’s physical damage insurance. It’s about $350 per month as opposed to around $800 added to your commercial insurance policy. You also don’t have to pay property tax on a rental.
@@LoadMizer I love that answer! I was wondering about it myself.
I'm sorry but I disagree I work on all my own vehicles because nobody will care more about my truck than me. Also if your able to put more money away for emergencies then you will be more prepared for something when it does happen. Then I would run to enterprise to rent a 🚚 🚛 🚒 🚚 truck or go buy another one for backup like an older model 🤔. What you say makes sense but everyone is different and has different reasons.
Makes sense but I called enterprise in GA and they said they don’t lease dually’s anymore kinda confused about this.. pls explain thx
Call around enterprise truck rentals in your area and surrounding areas. The main ones that do this are the Mishawaka and Elkhart branches in Indiana but nearly every Enterprise truck rental location offers duallies to rent. You just have to find the ones that offer long term contracts.
Gotcha.. thx brother!
Hey do you or anyone in the comments know if a company will lease you on if you have a enterprise truck? Cant find that answer anywhere
Yes they will. 👍