Landstar Questions

nothing about them in particular, they have actually been on my good side of the good bad checklist since the first time I seen them. if my local bank will deal that's the way I want to go. I have been with them for 5 years now and actually have a good(albeit small) credit history with them. just to clarify its not a small small bank, regions financial is actually pretty big. it just a very small bank in my hometown and everybody there has known me since I was 3 years old. you get the picture.

 

Just don't get offended if they say no. They often farm out their financing departments and such on such large loans.

 

yeah I know, its not up to the people I know at the brick n mortor. its up to the big guys they call on the phone.

 

Securing an equipment loan is one of the toughest things you can do especially if your planning on useing that equipment to earn the money tht will pay back the note. If you can get a loan from a private bank your doing well.

Im still really curious what the numbers look like when I break down my LM loan. Its going to have to wait because its day three of a well deserved four day weekend. Made carne asada tacos,homemade tamales,salsa and guacamole for 20 people yesterday after playing boat driver for the kids all day. Today is gong to be the boat and alot of beach time while I kick it high desert style. Think I might have a carne asada omelette for breakfast.

 

And where was my invite for tacos?!

 

You know how to reach me. What you need to do is pay a "work" visit to the Victorville office then come hang on the boat for a day or two. I have plenty of room and your always welcome. Right now I have about a case and a half of corona and dos equis I have to "dispose" of,can you be here by noon and help me out?

 

Unfortunately not. Southwest is sold out...

 

I doubt they'll do it. When they were Amsouth they wouldn't.

 

One nice thing about doing a lease purchase of equipment is the fact that payments are 100% tax deductible.

 

Some banks will make a commercial loan rather than an equipment loan. You are using the money for the same purpose, but that apparently doesn't make any difference with some lenders. A commercial loan may also have a longer pay back period and more favorable interest rates, as well. Getting that first truck financed can be a challenge. It can sometimes help to secure financing if you have a corporation with some history. One bank that I used to do business required that a corporation to be at least 2 years old in order to lend money to them. I had a couple of commercial loans with them, one was for another truck. Since they didn't make loans on class 8 equipment, they set it up as a commercial loan and used the truck to secure the note. The other was just a line of credit with only my signature. The problem with this bank is that it can take a couple of weeks for them to give you an answer with commercial loans since the local branch was bought out by a big banking conglomerate.