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Truck - Trailer Financing A discussion for owner operators to find info on the financing of eighteen wheelers and trailers. Don't get ripped off by shady dealers and financeers. We have an expert that can answer your truck financing question here so you can do it the RIGHT way!

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  #31  
Old 10.28.2007
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Originally Posted by cmeyer07 View Post
getting ready to buy a truck will be older one cause i no how to work on them and able to put between 6-8k down if need be what lenders will finance me on a older truck and which one would you recommend
Visit your local Freightliner SelectTruck dealer. That is where I bought mine with $4,500 down.
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  #32  
Old 10.29.2007
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Originally Posted by cmeyer07 View Post
getting ready to buy a truck will be older one cause i no how to work on them and able to put between 6-8k down if need be what lenders will finance me on a older truck and which one would you recommend

It depends on your credit history, but yes. Even rougher credit can get bought with less money down these days. Just make sure no-one is trying to sell you their junk and shove it down your throat. There are good older pieces out there, ya just have to sift through the clearance rack until you find the one that fits.

If your credit is fine you have nothing to worry about. If it's a bit tougher, shoot me a PM and I'll send you a few leads to help you out so the dealer can't knock you over the head too hard.

I would love to help you if I could, but I have been out awaiting surgery for the past 6 weeks and I just don't trust anyone with my client but me. So, I will help you where I can with who I can, let me know where you are located and I can send you to a good dealer that I KNOW will take care of you.
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  #33  
Old 11.03.2007
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Originally Posted by MartyCAG View Post
Ladies and Gentleman, let me tell ya'll a bit about myself. I work for a Second chance finance company. I have spoken with the staff and have permission to help with any of your finance questions.

I decided to do this after hearing too many stories from O/O who have no idea what they are signing when they get their first truck.

I'm not here to point the finger or to shift the blame. I am here to educate the O/O in making the best possible decision before financing their truck.

As I tell all of my clients. I am here to make sure you, the O/O, are profitable for you and your families.

So go ahead and let me have it.
What are the pro's and con's of going through a company who offers a zero down scenario? Is there always a catch?
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  #34  
Old 11.04.2007
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Hey Marty, Have you ever helped any retired military get into their first truck? Does their retirement check from the military help them get a loan, with also a good gredit rating? The reason im asking is I'm in that catagory and was wondering with a 1800.00 a month retirement check from the military, really good credit get me a good % rate? And i also want to add, this thread is what I have been looking for. You can only read so many threads bashing trucking companies. Informative threads that will actually help people is what we need more of. Thanks for you time and effort on this thread Marty.

NeroK9
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  #35  
Old 11.04.2007
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refinance
Hi Marty,
Who do you suggest for a refinance of a tractor? It is currently on a personal loan that is joint with an ex and needs to be refi'd asap. I'm not having ANY luck with the local banks...they seem to know nothing about commercial loans.
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  #36  
Old 11.05.2007
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Originally Posted by prisonerofthehwy View Post
What are the pro's and con's of going through a company who offers a zero down scenario? Is there always a catch?
Not sure if there is really to much of a catch as long as you qualify for it. Keep in mind your position in the truck if you decide to trade it down the road. With 0 cash down have have nothing buying down the principle of the loan. It will lose value, fast. I would definitely recommend having GAP protection.
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  #37  
Old 11.05.2007
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Originally Posted by nerok9 View Post
Hey Marty, Have you ever helped any retired military get into their first truck? Does their retirement check from the military help them get a loan, with also a good gredit rating? The reason im asking is I'm in that catagory and was wondering with a 1800.00 a month retirement check from the military, really good credit get me a good % rate? And i also want to add, this thread is what I have been looking for. You can only read so many threads bashing trucking companies. Informative threads that will actually help people is what we need more of. Thanks for you time and effort on this thread Marty.

NeroK9
Being a former Marine myself, I always go the extra special effort for our military. The biggest problem I have seen with this situation is the simple fact that this will be a start up company. There are not to many lenders out there willing to give start ups a shot with a good rate and terms. I would recommend dealing with a lender that you already have a relationship with. I feel that will be your best bet. A lot of other lenders will be looking for tons of cash down and high rates.

Semper Fi.
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  #38  
Old 11.05.2007
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Originally Posted by annamac View Post
Hi Marty,
Who do you suggest for a refinance of a tractor? It is currently on a personal loan that is joint with an ex and needs to be refi'd asap. I'm not having ANY luck with the local banks...they seem to know nothing about commercial loans.
And they probably won't know. Your in a tough situation and have some things to consider. Will your ex sign off on the title? Do you have any equity in the truck? Honestly the best and easiest course of action is for you to trade the truck in. I get many calls about this same situation and trading it is the best option.
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  #39  
Old 11.18.2007
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dang good info marty and gazoo. dang good!!! marty, could you reccomend a good dealer in southern california. preferably in the san fernando valley. thanks a million
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  #40  
Old 11.19.2007
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Also In southern Texas!!
If you know of any here.
I will be Purchasing My 1st Truck The first of 2008!!!
DOH!
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