I own a truck, but no one is financing me a reefer trailer.

Discussion in 'Ask An Owner Operator' started by John quinton, Sep 12, 2015.

  1. truckon

    truckon Swamp Thing

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    Well he is the business partner. And that's what you do when you a business.
     
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  3. John quinton

    John quinton Light Load Member

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    Yeah he got equity. But they are saying you don't have enough work history to pick up equity. :confused:
     
  4. truckon

    truckon Swamp Thing

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    Guess the only option left is to sell the house. GLWS.
     
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  5. HalpinUout

    HalpinUout Road Train Member

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    I used to work for GT trans... Very shady outfit... I would use caution...Horrible safety score so if DOT comes up and runs the trailer plate expect to be stopped... All the reefers they had were complete crap.
     
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  6. John quinton

    John quinton Light Load Member

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    The house is worth around 760k talked to real estate agent about it. If we sell the house we rather just take the cash somewhere out of country. We're from India though we can go back. but I am stuck with lone mountain for 5 years as well :eek:o_O
     
  7. truckon

    truckon Swamp Thing

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    Your business partner sounds shady
     
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  8. HalpinUout

    HalpinUout Road Train Member

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    Exactly... Why can't they take out a home equity loan and pay cash for the trailer? Something smells funny
     
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  9. John quinton

    John quinton Light Load Member

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    He's my real brother lol. The house was a gift from our parent. We try to start a trucking business because I was friends with logistic managers. I thought I have direct shippers loads all year long which I am using right now why not start a trucking company. We could have started a brokerage but the my friend the logistic manager for ross dress for less wanted my own authority and trucks. I was doing great until this reefer and bad credit dilemma.
     
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  10. John quinton

    John quinton Light Load Member

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    We tried that man. The bank is being a jerk. They said that we can't give you equity because you both have no work history. He just graduated college and I was a part time retail worker that worked 3 times per week.
     
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  11. John quinton

    John quinton Light Load Member

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    I have about 20k saved up. I also got some old dry vans I can sell. maybe that will help. Then I'll need help purchasing a used reefer around 30k
     
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