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New owner operator, problem with truck/trailer financing

Discussion in 'Ask An Owner Operator' started by TruckerRuss, Jul 31, 2015.

Page 3 of 3
  1. Aug 5, 2015 #21
    TruckerRuss

    TruckerRuss Bobtail Member

    21
    5
    Jul 31, 2015
    0
    Thanks everyone, went to bank yesterday and as of today got all the money I needed for truck and trailer with excellent terms. Going to get truck next week, and should be out running by the end of the month.
     
    TruckerRuss, Aug 5, 2015
    TruckerRuss, Aug 5, 2015
    #21
    icsheeple Thanks this.
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  3. Aug 5, 2015 #22
    Oscar the KW

    Oscar the KW Going Tarpless

    12,246
    28,116
    May 19, 2011
    0
    What interest rate did you get?
     
    Oscar the KW, Aug 5, 2015
    Oscar the KW, Aug 5, 2015
    #22
  4. Aug 5, 2015 #23
    TruckerRuss

    TruckerRuss Bobtail Member

    21
    5
    Jul 31, 2015
    0
    7% for 36 months on a 60k note zero down and 90 days till first payment due. Lol
    My banker is a god hahaha
     
    TruckerRuss, Aug 5, 2015
    TruckerRuss, Aug 5, 2015
    #23
  5. Aug 5, 2015 #24
    scottlav46

    scottlav46 Road Train Member

    1,007
    6,430
    Jun 18, 2015
    Escanaba, MI
    0
    Good for you bro...you should start a thread chronicling your experiences getting your truck and your business going? I know I'd read it.

    Good luck man.
     
    scottlav46, Aug 5, 2015
    scottlav46, Aug 5, 2015
    #24
  7. Aug 5, 2015 #25
    Oscar the KW

    Oscar the KW Going Tarpless

    12,246
    28,116
    May 19, 2011
    0
    I don't suppose that's to bad for a first time O/O.
     
    Oscar the KW, Aug 5, 2015
    Oscar the KW, Aug 5, 2015
    #25
  8. Aug 6, 2015 #26
    georgeandson

    georgeandson Heavy Load Member

    890
    647
    Feb 18, 2011
    1 mile down the road.
    0
    I shopped for months and finally got a regular loan with fixed rate. No lease garbage.
    I did it with avg credit and 20% cash down for first truck.
    So it can be done.
     
    georgeandson, Aug 6, 2015
    georgeandson, Aug 6, 2015
    #26
  9. Aug 6, 2015 #27
    TruckerRuss

    TruckerRuss Bobtail Member

    21
    5
    Jul 31, 2015
    0
    Yessir it can. Best advice I've gotten on this matter so far was to just got to my bank. Set down with the bank president of my local small bank, laid out all my financial info and my business plan and bam here I am about to get it all done all with a fico score of 667. But I can't tell you how much work this has been or is about to be, not an easy road at all but definitely do able.
     
    TruckerRuss, Aug 6, 2015
    TruckerRuss, Aug 6, 2015
    #27
  10. Aug 6, 2015 #28
    heavyhaulerss

    heavyhaulerss Road Train Member

    3,723
    2,040
    Dec 23, 2009
    AL/TN BORDER
    0
    I am happy for you Russ!:)
     
    heavyhaulerss, Aug 6, 2015
    heavyhaulerss, Aug 6, 2015
    #28
  11. Aug 6, 2015 #29
    77fib77

    77fib77 Road Train Member

    10,515
    65,818
    Jul 7, 2010
    St Louis
    0
    Congrats russ
     
    77fib77, Aug 6, 2015
    77fib77, Aug 6, 2015
    #29
  12. Aug 7, 2015 #30
    MOGLAR

    MOGLAR Heavy Load Member

    743
    518
    Jun 19, 2013
    Kansas City , MO
    0
    Credit Unions usually do not give commercial loans. But if yours does....great. Make sure you have a business plan to put forward.
     
    MOGLAR, Aug 7, 2015
    MOGLAR, Aug 7, 2015
    #30
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