How did you get your first truck?

Some friends purchased their first truck through Greatwide. The down payment was $1000.00

Don't know if they still have this program. Anyway, the successful ones bought a used truck through a new truck dealership, from their trade-in lot. The unsuccessful ones bought a used truck from a used truck lot not associated with a dealership. Some of the successful ones have been with the program for 10 years now and doing very good.

 

Found this info. I'm neither recommending or not recommending; just info.

Well, go to driveforgreatwide website & click on "Interested in owning your own truck".

When I worked for YRC Logistics, Greatwide bought the company, and told us, if you want to be an 0/0 , pick out a used truck. Most of us went to the Freightliner dealership used truck lot, some went to Volvo or International and got one. I never have wanted to be an 0/0 & decided to go to a tanker company as company driver. Anyway, they made it simple and easy. Most are still there and doing good. Some left and took their trucks with them. It's a big outfit with 5000+ trucks on the road.

 

link didn't work for me.........

 

I'll try again.

 

20% down
Www.westbayleasing.com

Forget how I was directed to them. Think it was through GE financing. It wasn't easy. I had pretty much given up getting a truck, then when I was coming back from Wyoming about 6 weeks after we talked and he said he could promise anything, he called and said it went through.

The big hang up was this was my first truck..

Insurance wanted 25% and that let's the bond the policy and get Billing set up. Figure premium to be around 3.4% of the value of the equipment.

 

I just recently purchased my 2nd truck yesterday. My first truck I went through arrow truck sales- they require 20% down on most cases. Interest rate depends on your credit. If you go that route do no use transport funding, tell them you want GE. Transport funding will rape you on interest. My second truck- I went through selectrucks of Nashville. Good people, had me approved in 15 minutes through freightliner (Daimler). I qualified for 8% down but I have really good credit. My interest rate is 7.95% which is below average for commercial lending. Ill tell you if you got 20-30% down you can get a truck may be high interest rate, but arrow truck sales would sell you a truck no questions asked.

 

We bought our second truck through Lone Mountain, http://www.lonemountaintruck.com/inventory/ . Our dp was $4000. Our first truck we bought was a cash deal from a private party what a nightmare that was. With Lone Mountain they fixed EVERYTHING we found wrong. The only thing I can say is you have to do your homework before you sign. Go to Rigdig.com and run the vin number. This is just like carfax for the 4 wheelers.

 

I bought my first truck through Select Trucks. 20% down on the truck ($7000) and 20% down on insurance(around $1800ish). Then you got to have fuel, maintenance and "oh ######" money. I also bought a reefer trailer which required 20% down (another $5000). Just know that when you buy used you WILL have some issues that most likely are not going to be covered under whatever warranty you get with the purchase. I started with good credit and about $35000 and there were a couple months where I was really worried I was not going to make it. Not that I was out of cash completely but when you see your nest egg dwindling it's very discouraging. Good luck!

 

Work hard, save your money , pay cash for a decent used truck or put at least 30% cash down, don't buy anything until you have at least 10 grand in a start up maintenance fund. Thats what I did and for the last 7 months it's been working out OK for me. Don't expect to be a millionaire overnight though. Owning a truck is twice as much work as driving a company rig and doesn't allways mean more money every month. Some months you will be in the plus and some you will be on the negative. Good luck.