Buying a truck with no driving experience

Discussion in 'Ask An Owner Operator' started by Diligent_Transport, May 7, 2022.

  1. Diligent_Transport

    Diligent_Transport Bobtail Member

    49
    51
    Mar 25, 2022
    0
    I freshly have my CDL, and am trying to buy a truck. I have a high 700s credit score with nothing negative on it. I have $42,000 and was wanting to put $24k-$30k down on a truck. Figured a 85k-100k truck and a 20k flatbed trailer would be perfect for what I'm working with. I have called a few lenders and asked if it would be possible to be approved for financing and ALL of them have told me no because I have no CDL experience.
    I have even tried talking to my personal bank and asked for an "auto" loan, then after telling them it will be a semi for personal use, they said no lmao (was worth a shot). I have called a couple leasing companies which in return want $25k down and $3500 a month, which I'm fine with paying the monthly, but that down payment would make it tough for me to still find a trailer. If this #### truck market wasn't so #### inflated right now, and didnt need financed for so much, i dont think this would be as much of a problem. Has anyone had experience getting into a truck with no CDL experience? Or does anyone know any companies that help with this?
    Im sure im gonna get a ton of "you should get experience first" and "be a company driver until your ready". But its not the answers im looking for, I am confident in myself, and If I fail, well thats on me, lesson learned. Thanks to anyone that may be able to help me out some.
     
    austinmike Thanks this.
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. spindrift

    spindrift Road Train Member

    3,233
    12,905
    Dec 2, 2014
    Texas
    0
    If you haven't read the many, many threads regarding inexperienced drivers buying their own truck, please do so.
     
  4. Diligent_Transport

    Diligent_Transport Bobtail Member

    49
    51
    Mar 25, 2022
    0
    I have spent the past hour doing so, Not truly finding much information on it though
     
    austinmike Thanks this.
  5. bryan21384

    bryan21384 Road Train Member

    14,940
    32,408
    Sep 18, 2009
    Memphis, TN
    0
    You're right. Those are the answers you're going to get. They say people only seek advice when they already know the answer. I do agree, yes you should be a company driver first. This is a world that it takes time to adjust to. Then you have to learn the industry. That includes learning regs, operating day to day on these highways, learning about your truck, then learning the business side of it all. That all takes time. In trucking, you have to learn patience. Nothing comes fast and easy. You also have to be prepared for whatever truths will come your way, and be able to take a little constructive criticism/advice/direction. You're going to be told what you want to hear on this forum. These guys and gals are gonna give you truth as I am now. We've all got some longevity in the industry so just soak it in. All of it will be a lot to soak in and it ain't gonna happen in one day.
     
    Bfr38, gentleroger, JoeTruck and 3 others Thank this.
  6. JoeyJunk

    JoeyJunk Road Train Member

    8,763
    68,032
    Dec 31, 2010
    Washington, PA
    0
    You are not looking hard enough.
     
  7. spindrift

    spindrift Road Train Member

    3,233
    12,905
    Dec 2, 2014
    Texas
    0
    Then you haven't looked hard enough.
     
  8. spindrift

    spindrift Road Train Member

    3,233
    12,905
    Dec 2, 2014
    Texas
    0
    Lol...simultaneous posting.
     
    JoeyJunk Thanks this.
  9. JoeyJunk

    JoeyJunk Road Train Member

    8,763
    68,032
    Dec 31, 2010
    Washington, PA
    0
    Tell me what the market is like right now?

    This will answer all of your questions……or it won’t.
     
    TheLoadOut Thanks this.
  10. Diligent_Transport

    Diligent_Transport Bobtail Member

    49
    51
    Mar 25, 2022
    0
    I feel i know the answer, and answer being 'no", that its not gonna happen, but was just hoping on a massive forum of O/Os that a small chance that someone knows a company that can help with this.
    I have been around trucking my whole life, as far as regs, the industry, and the business, I pretty much know it. My lack is going to be on the road, learning the truck, etc. I know
     
    austinmike Thanks this.
  11. Long FLD

    Long FLD Road Train Member

    11,937
    49,153
    Mar 4, 2015
    0
    You’ll probably have to save up more money and pay cash, especially if your local bank isn’t willing to work with you.
     
    Diligent_Transport Thanks this.
  12. bryan21384

    bryan21384 Road Train Member

    14,940
    32,408
    Sep 18, 2009
    Memphis, TN
    0
    Unless you want someone to tell you to go do lease purchase, they won't tell you a quick way yo do it. I don't necessarily recommend that route though some drivers have made it work. @D.Tibbitt has some insight on that route. I'm sure others do too but he came to mind first.
     
    D.Tibbitt and motocross25 Thank this.
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.