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Lenders for a new starter

Discussion in 'Ask An Owner Operator' started by Blacktooth 018, Feb 25, 2021.

Page 1 of 2
  1. Feb 25, 2021 #1
    Blacktooth 018

    Blacktooth 018 Bobtail Member

    10
    3
    Nov 16, 2020
    0
    Hello fellow truckers!

    I registered a transport corporation 2 months ago. Given that, many lenders won't give me a loan to purchase equipment or truck.
    Anyone here knows lender which would give
    a loan to purchase semi truck?
    God speed!
     
    Blacktooth 018, Feb 25, 2021
    Blacktooth 018, Feb 25, 2021
    #1
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  3. Feb 25, 2021 #2
    77fib77

    77fib77 Road Train Member

    8,576
    48,896
    Jul 7, 2010
    St Louis
    0
    How much moy do you have to put down?
     
    77fib77, Feb 25, 2021
    77fib77, Feb 25, 2021
    #2
  4. Feb 25, 2021 #3
    Old Man

    Old Man Road Train Member

    4,597
    13,466
    Apr 3, 2009
    Oklahoma City, OK
    0
    How much experience?
     
    Old Man, Feb 25, 2021
    Old Man, Feb 25, 2021
    #3
  6. Feb 25, 2021 #5
    Blacktooth 018

    Blacktooth 018 Bobtail Member

    10
    3
    Nov 16, 2020
    0
    I have got my cdl 9 years ago, but overall 3 years of OTR experience. I am able to put down 20k-30k. I would like to shop newer truck but still used a few years.
     
    Blacktooth 018, Feb 25, 2021
    Blacktooth 018, Feb 25, 2021
    #5
    77fib77 Thanks this.
  8. Feb 25, 2021 #5
    shooter19802003

    shooter19802003 Road Train Member

    5,654
    42,106
    Feb 8, 2010
    Idaho
    0
    I just went to my bank. Took them about 10min to say ok.
     
    shooter19802003, Feb 25, 2021
    shooter19802003, Feb 25, 2021
    #5
    Midwest Trucker Thanks this.
  9. Feb 25, 2021 #6
    Oakland Raiders Forever

    Oakland Raiders Forever Medium Load Member

    387
    442
    Feb 24, 2020
    0
    So you want to find a bank to lend you money to be a truck driver ?

    Why don’t you just get a job as a truck driver ? Banks want sure bets not I want to try something new.
     
    Oakland Raiders Forever, Feb 25, 2021
    Oakland Raiders Forever, Feb 25, 2021
    #6
  10. Feb 25, 2021 #7
    shooter19802003

    shooter19802003 Road Train Member

    5,654
    42,106
    Feb 8, 2010
    Idaho
    0
    Main thing is to have a solid business plan when you go in.
     
    shooter19802003, Feb 25, 2021
    shooter19802003, Feb 25, 2021
    #7
  11. Feb 25, 2021 #8
    cke

    cke Road Train Member

    5,387
    66,101
    Aug 4, 2013
    Colfax Wi
    0
    Business plan, business plan, business plan. You ain’t getting nothing with out a business plan.
     
    cke, Feb 25, 2021
    cke, Feb 25, 2021
    #8
    TallJoe and clausland Thank this.
  12. Feb 25, 2021 #9
    Chinatown

    Chinatown Road Train Member

    68,224
    143,083
    Aug 28, 2011
    Henderson, NV & Orient
    0
    Last edited: Feb 26, 2021
    Chinatown, Feb 25, 2021
    Chinatown, Feb 25, 2021
    #9
    Speed_Drums Thanks this.
  13. Feb 26, 2021 #10
    Bossplayasonly

    Bossplayasonly Bobtail Member

    8
    11
    Feb 16, 2021
    0
    If you are asking this question, then you have not done enough research to get a truck. 20-30K should be enough to buy a decent truck. Hell, I could get you a really nice used Walmart fleet truck for that. (And this information is not free, so I am not going to tell anyone how on some random thread.)
     
    Bossplayasonly, Feb 26, 2021
    Bossplayasonly, Feb 26, 2021
    #10
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