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Trying to figure out what to do; could use some opinions,,,
Here is my dilemma; I've been doing some small time scrapping. Basically what ever I can haul in my car. Lately have branched into e-scrap which is still 1 to 3 pieces at a time in addition to copper/brass. Over the weekend I bought a truck cheap(to help a friend out). Do I sell the truck and double my money? (It's a driver) or expand my scrapping and put the truck to good use. About one good load at the yard would pay for it,,, :confused: Thanks for any input.
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It sounds to me like you already know the answer to that question, but I'll give my answer anyway.
If you have any intention of doing even small time scrapping, I guarantee you, as will many others here on this forum, that there will come a day when you REALLY wished you had a truck. You'll come across some load of awesome scrap, or someone offers to give you piles of sweet metal, and you'll be pretty pissed at yourself for getting rid of the truck!
So the short answer, if you're even remotely serious about scrapping, is yes, keep the truck! One or two good loads will pay for it, so why not? This truck is now a literal and metaphorical "vehicle" that will, without a doubt, increase your income.
Whatever you decide to do, good luck!
Experienced Scrapper
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Keep the truck.
Bill
Argon Welding
Sic Gorgiamos Allos Subjectos Nunc
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The other thing to consider is starting a legit company (if you're not already) and write off the VALUE of the truck on your taxes.
People may laugh at me, but that's ok. I laugh all the way to the bank.
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Keep the truck. Maybe sell the car unless you plan on still driving it. How much did the truck cost?
There's nothing more fun and more effective than hitting something repeatedly with a sledgehammer
New Guy
Keep the truck.Get that one good load in the yard and it's paid for.After that load you have a free truck.
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Better to claim the mileage then the cost of the truck, but you can't do both.Originally Posted by Mick
Keep the truck...trying to get the big stuff in is a car is a pain in the a$$.
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Because at .51 a mile, the mileage deduction is set up to cover all costs of the vehicle, like payments, insurance, gas, maintenance etc. If you have large payments or a truck that takes a lot of money to keep it running, you don't fair as well. If you have a truck that is paid for and low maintenance, you are making money just driving it. If you go the other route and deduct the true cost of the vehicle, depreciation comes into play and can get complicated. Standard mileage is the way to go for most people.
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Unless you use Turbo Tax. They'll figure out which works best for you.
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http://s1135.photobucket.com/albums/...t=S2010009.jpg
Here's my pride and joy; needs some small stuff, maybe a tuneup, has a 350, auto trans. for $500. Like I said, a good load of steel or ??? and it'll be paid for. I'm just not gonna haul a taurus in the bed,, lol
Last edited by Mechanic688; 05-16-2011 at 10:36 PM.
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If you change your mind about this, make sure to post us some pictures haha
Experienced Scrapper
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M688.....I like the cat !
Keep the truck. You said you are getting into the e-waste. What are you getting on your e-waste?
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Haven't sold any yet; Still stock piling. Picked up 3 more 'puter systems today+3 large beta recorders out of an old studio+ 5 large TV sets. not a bad day for yard sale'ing and passing out business cards.
we hit two big housing additions that had big community yard sales and passed out about 40 business cards or so. Ended up with about two full truck loads so far,,, plus a "new' couch for the house.lol
Last edited by Mechanic688; 05-15-2011 at 02:26 AM.
New Guy
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Right now (& I'm still a bit green), I really wish I still had my truck. I have a 3/4-ton SUV and a two-horse trailer (hey, when hard times hit, ya gotta be resourceful). I can get a dozen hot water tanks and then some in there, plus really big wierd stuff. Go with the truck!
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