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Part 1 - BUYING A HOTSHOT TRAILER - New Hot Shot Trailer or Used Hotshot Trailer

Part 1 - BUYING A HOTSHOT TRAILER - New Hot Shot Trailer or Used Hotshot Trailer
hey everybody welcome back to weekly money this weekly money episode is gonna be a little different it's not showing you what my guys are making on the road they're all doing well and i'm putting together videos about that i'll start posting them soon but this is about what

trailer

options you may want to buy what things you want to think about when

buying

a

trailer

what can hurt you what can help you so this is really for all you that are starting out and are looking to buy a

trailer

before i get into that uh i do have a free course which i talk about all the time because it's helpful there's not a lot out there showing you what the business is like the behind the scenes to having a truck and a

trailer

and loading and unloading and getting paid that's the basics there's a way this works so the before you buy a truck course is a free course that basically explains how the business works do yourself a favor grab it watch it and educate yourself before you move forward and start getting you know get into these big payments of trucks and

trailer

s and insurance and all that the next course i have is not free it's called ready set repair many of you have purchased this already i'm super happy to see that thanks for the support all of you that have bought it already and have enjoyed it and are giving me good feedback um that that uh course basically explains um uh everything you need to have in place to get started so that's a course...
part 1   buying a hotshot trailer   new hot shot trailer or used hotshot trailer
that'll help you a lot uh i may put out something that shows you guys how to get your own mc number and if and when i decide to do that that's something that i'll send out to those of you that have already purchased the ready set prepare core so i'm tinkering with the idea of doing that but in the meantime it's not just let me buy a truckload by a trail let me get insurance there's a lot more that goes into getting on the road and that course explains all of that so if you're thinking about taking this business seriously before you jump into those big payments because they're not cheap my truck about a thousand dollars a month my

trailer

about 350 a month my insurance about 1300 a month and fuel when i was on the road every day it's about 2 000 a month so you know four thousand dollars a month a month about you know a thousand to eleven hundred dollars a week is nothing to shake a stick at so before you jump into those payments you may want to get the before you buy a truck free course understand the business and also grab the ready to prepare course to know how to get started in the business i'm not talking about dispatching i'll i'm in the process of putting a course together for that that's not what this is about this is about all the foundational work you have to put in place before you hit the road so you're in compliance so anyway enough about that i'm a guy that's big on referrals if somebody refers...
part 1   buying a hotshot trailer   new hot shot trailer or used hotshot trailer
something to me or if i'm

buying

something you better believe i'm reading through like a hundred amazon reviews that's just the way i am call it a waste of time my dad taught me do it right the first time that we don't have to do it two three four more times so uh with that said factoring is one of the things that i feel strongly about everybody should feel strongly about because factoring equals getting paid that's how you turn your paperwork from your brokers and your receivers and all that into cash that's how you make your money so um if you are trying to pick a factoring company you have somebody already selected great knock yourself out hopefully they came with a good recommendation from somebody that's had a good experience if not and you want to know who i've

used

from the beginning then in the links below or you know send me a comment um or email me and ask me you know who are using i'm just about to use a factory company i need one i'm about to get on the road or i've been on the road i want to switch for whatever reason let me know and i can definitely connect you with the folks that i use for factoring no complaints thus far one of the benefits of the factoring company i use is that they have a killer fuel card it saves on average about 40 to 50 cents per gallon that's a lot of money do the math i mean some of you guys are going through 500 gallons a week like my tank is a 30 gallon tank 10 phillips is 300 gallons so...
part 1   buying a hotshot trailer   new hot shot trailer or used hotshot trailer
do the math there um saving to your 40 to 50 cents on average per um uh per philip is a massive thing and you do not have to factor with them in order to get the fuel card i'm gonna say that again you do not have to factor with them in order to get the fuel card you can have a different factoring company if you want to still get the fuel card it's free it doesn't cost you anything as i like to say it's free 99 you might as well grab it it's a great thing it's easy to use it shows you what stations around you

part

icipate in their program or what stations on your route

part

icipate with your program whether you are in a big rig or you own a fleet of vehicles or you're a one a one person one man

shot

one woman's

shot

starting out still get the fuel card it's free money why not as for load boards you guys know how i feel about this please take a look at a live load board so you can see what loads are really like out there and don't just take a bunch of youtube videos and and take everybody's interpretation of it look for yourself so as you know i'm a huge proponent a huge advocate of dat number one because that's who i've

used

from the beginning number two that's who i use for the most

part

when i'm dispatching my team of guys that i'm working with now and thirdly they're the only ones that give 30 days free thus far so that's three reasons why i like them and i'm still not disappointed with them in...
any way as a matter of fact i won't say much more but next week or the next time i post a video i'm trying to get back to every week guys i'm trying but it's a lot going on um next time i post a video i want to give you guys a link for uh d8t load board access that does not require a dot number that is massive so now basically you can see what loads are looking like without even having to get an interesting dlt number more on that in the next video and lastly your eld your electronic login device you got to have it basically you're allowed to work 14 hours a day three of those 14 hours are from miscellaneous things you're stopping for the bathroom you're getting food whatever have you that's where you can use those miscellaneous three hours but the other 11 hours are your drive time you're allowed to drive 11 hours a day within the first eight hours out of those 11 hours of driving you have to take a 30 minute break all of that is regulated and kept track of by your eld the eld that i use there's a link below of course or you can email me for or leave a comment about it i will connect you with it the benefit is that you get a gift card for 100 bucks once you order your your hardware i do too just trying to be transparent you don't have to use the eld company i use you can use whoever you want but just make sure you're referred to whatever company you use because you want to make sure you're using a company that you like and...
that isn't going to give you any issues not that mine is perfect but again referrals are big to me so i'm referring it to you if you want to use it great if not do as you will anyway let's get into the main question that i get all the time which is what kind of

trailer

should i buy and every other

trailer

related question that i am uh sent by way of email i'm gonna do my best to answer them here and help all of you who have not yet bought a

trailer

or who are in the market for a

trailer

sometime in the future here we go just in case you're wondering whether hot

shot

trucking is popular or not just go try to buy a

trailer

it's it's virtually impossible to find one on a dealer lot like nationwide not to say it's impossible to find them but i recently been working with one of the guys that i'm dispatching for he's coming on board uh in the next couple weeks here his mc number's waiting to get approved and in the meantime he's getting his ducks in a row

buying

his

trailer

that's one of the last things he has to do so i've started to help him find a

trailer

because it was difficult for him to find one and we found one but i understand there's a humongous shortage on

trailer

s this is the summer of 2020 it's a very interesting summer for multiple reasons amongst them is it's very difficult to find a hot

shot

trailer

now a typical hot

shot

trailer

is you know 30 to 32 feet um 7 000 to 8 000 pound axles some have...
monster rams some are straight decks either way trying to find anything like that you know a gooseneck

trailer

like that is very very difficult there's there are not a lot of

trailer

s on dealership lots because a lot of them that are on the lot are waiting to be picked up they're already spoken for um that's because shipping times are what they are like they're selling them before they make these things it's it's really that serious guys so if you're trying to buy a

trailer

understand and know that you're more than likely not going to go to a dealership pick it up and walk off with it also you're not going to see one online call the number for the dealership they're going to say oh yeah it's just sitting here waiting when do you want to come look at it not going to be that way more than likely the websites for most dealerships are not being updated in time so what you see online has been sold you have to call specify what you want see what they have on order and when the next truck of

trailer

s is coming to be delivered and hope that one of those

trailer

s is not spoken for as far as um delivery times it's anywhere from you know three four weeks if there's a an order of

trailer

s coming to a dealership to three four months if not more uh for a

trailer

to be built and or transported to the dealership that you called and if you want a custom

trailer

forget about it you're going to wait several months while they make your...
custom

trailer

and then ship it to the dealership that you made contact with so just know there's a shortage they're not laying on on lots everywhere for you to go pick up and kick tires on you may find one here or there but chances are you won't and if you do you may want to throw a deposit on that thing like yesterday like i mentioned one of the new drivers that's coming on board for me to dispatch for in the next few weeks here is looking for a

trailer

so i recently spent most of a whole day looking online calling dealership after dealership after dealership uh to see if they had the type of non-cdl

hot

shot

trailer

he wanted which is similar to mine mine's 32 feet uh i don't have monster ramps i have a straight deck but i suggest monster ramps for him for different reasons anyway 17 and a half inch tires and adding on the sliding ratchets on the side so i was looking for that specific kind of

trailer

uh it took me all day i called lots of places and the price range on these i found three um the price range was what you see here on the screen and you're probably thinking that's a big range and you're right like i called one dealership that had it uh actually the dealership where i bought my

trailer

and they wanted about 10 000 out the door with the different upgrades that i just mentioned then i called another dealership that another driver i dispatched for referred me to where they bought their

trailer

and they had one on on on on the...
lot too and it was about 2500 more it was the same type of

trailer

same brand same everything so needless to say supply and demand is in full effect uh you know dealerships know that the demand is high for these things and the prices are not close by a long

shot

i mean you may get a 2 000 difference in price a 2000 variance in price depending on the upgrades you do and such just because they know that we're looking for them i've been asked a lot should i pay cash should i finance well first off financing is available for most of these

trailer

s i financed my

trailer

most people do at least that's what i believe anyway um sheffield is one of the finance companies that i see i don't get paid by them to say that but i'm just letting you know they're one of the main equipment financing companies that exist most dealerships will say yeah we offer financing you know click on the link on our website and then you'll end up at the sheffield site you know filling out your application so that's that i do not know the parameters of you know what their approval criteria is what your scores have to be to get approved or i don't know any of that um but i know that that is a company that does finance these

trailer

s as far as paying cash or financing it's really personal preference in my mind i like to leverage it just comes from my mortgage broker background i always think about leveraging doing as much as i can with as little money as possible when it...
comes to financing a

trailer

i'm thinking you either put you know 10 11 12 000 out of pocket to buy the thing or i can finance the whole entire thing and have a payment like 350 bucks a month which is what i pay and have the freedom to pay more or pay it off sooner but keep that chunk of change in my pocket especially getting into a business like this where you never know what will happen on the road you may have a tire blowout you may have an axle blow out you may have nothing happen but at least you have the security of having some savings that's just the way i think about you know putting out a lump sum of cash versus financing i do know some people think about it differently they don't want the payment they don't want to owe anybody anything i get that too again it's personal preference but financing's available and obviously paying cash is always an option and you may get more bargaining power if you're paying cash but i'm not sure about that given how how in demand these things are first comes love then comes marriage and then come ramp choices so so uh i'm gonna talk quickly about straight deck

trailer

s because that's what i have uh and then i'm gonna continue this video in

part

two because it's getting pretty long um and i'll talk about monster ramps and hydraulic dovetails on you know starting in

part

two of this video but as far as straight deck

trailer

s go a straight deck

trailer

pretty much means just that...
it's straight deck there's no monster ramps there's no anything like that it's deck from beginning of the

trailer

to the end of the

trailer

um i have ramps which are slide out ramps they they tuck in in a little area underneath the rear of my

trailer

and when i need to use them i open that little flap and pull them out and then hook them onto the back of my

trailer

that's how i use them you've probably seen different videos especially where i'm loading trucks or vehicles you've seen the ramps in in use um but anyway i have no issues with them they're it's great the only drawback is that if i'm transporting vehicles especially cars sedans coupes things like that suvs are fine trucks are fine um you know tractors are fine um but if i'm transporting cars at any point which happens um the point where my ramps are too steep and the point where the ramps meet the back of the

trailer

it's you can easily bottom out a car and i've done so early on in my hot

shot

career i bottomed out a honda civic destroyed the drive train and had to pay like 1100 bucks to fix the thing so you may want to avoid that that's the reason why i have uh race ramps now i'll put a link to those in the description below or ask me for it i'll send it to you i'll send you my amazon link that's why i have those now because i don't want to bottom out any other vehicles in the future i wouldn't have to have done that if i had...
monster ramps also loading tractors when you have to balance a you know huge wheels of something like a tractor on thin you know slide out ramps not the best way to go other than that though i have no issue with my straight deck or with my slide out ramps so you're probably thinking dude why don't you just buy a

trailer

with monster ramps to begin with well the main reason there's two reasons the main reason was i got spooked by a youtube video i saw right before i went to go buy a

trailer

and the guy said you know there's some brokers that wouldn't load me on the monster ramp portion of my

trailer

because they wanted the load to be only on wooden deck boards i don't think i've seen that i don't recall having seen that you know in the time that i've been on the road but i didn't know any better when i first went to buy my

trailer

and i thought oh man i don't want that to be a reason why i get denied a load or you know get turned away once i get to a shipper so i'm just not gonna have monster ramp so that's what spooked me into getting a straight deck and not getting monster ramps the other thing is that i heard that they rattle a lot and that they drag sometimes because the hinges of the monster rams hang lower than the deck and that's true they do hang lower and they you do drag them sometimes the you know if the road is uneven or if you're going up a hill or if you know i don't know really high speed bump...
whatever but in hindsight um i love my straight deck

trailer

but again i do see benefits to having monster ramps over a straight deck again that's just my personal opinion now let's jump into

part

two of this video so i can explain the benefits of monster rams and hydraulic dovetails as well as some of the cons to those as well