Financing for a truck

Discussion in 'Trucker Taxes and Truck Financing' started by Dh46, Jan 18, 2019.

  1. Dh46

    Dh46 Light Load Member

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    I have a 696 credit score 15k in debt on a two car loans filed bankruptcy 3 years ago and having a hard time getting approved for a loan the dealership has asked 4 creditors already and they all declined me for my bankruptcy which was 3 years ago am I missing something I’m putting 10% down he said he has one more creditor that may approve me but at this point he said he doesn’t get it either I have been hauling crude oil for 6 years nothing on my record or anything he said he has had guys with way worse credit history and has put less down and have been approved any suggestions?
     
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  3. truckdriver31

    truckdriver31 Road Train Member

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    are you cleared out of bankruptcy. also i thought you had to wait like 5 years or something
     
  4. Dh46

    Dh46 Light Load Member

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    Yeah my bankruptcy been clear no u can buy a truck the day after bankruptcy just have to have 25% down and I told the salesman I can put way more than down and he said no we don’t need that just 10% and now no one is approving it so just confused
     
  5. SteerTire

    SteerTire Road Train Member

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    It may not have anything to do with you. It could be the lenders. Credit is tightening as people try to hold liquidity. The current market has everyone rattled.

    You might just put things on hold for a few months. Then try again.
     
  6. Diesel Dave

    Diesel Dave Last Few of the OUTLAWS

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    What city state are you in ? I know someone that could probably help you .
     
  7. truckdriver31

    truckdriver31 Road Train Member

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    theres a guy in buffalo ny that finances trucks. cant remember his name
     
  8. Gdog66223

    Gdog66223 Road Train Member

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    You should be able to get a truck no problem... I've been in business for over a year and when I first started I got my first truck with $4500 down and with a 640 credit score. So I'm kinda scratching my head here...
     
  9. Diesel Dave

    Diesel Dave Last Few of the OUTLAWS

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    How much does the truck cost ?
     
  10. Dh46

    Dh46 Light Load Member

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    50k the sales guy said the money I’m putting down would be great no way I would get declined he has seen a lot worse than my situation get approved so
     
  11. Dh46

    Dh46 Light Load Member

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    My buddy and I was just talking about that cause the fed rates and government shut down lenders maybe waiting to see what unfolds
     
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