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Financing

Discussion in 'Ask An Owner Operator' started by branj5257, Jul 2, 2019.

Page 1 of 3
  1. Jul 2, 2019 #1
    branj5257

    branj5257 Bobtail Member

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    Jul 12, 2017
    0
    Looking for recommendations on lenders who will finance a private sale. Tractor and Trailer are going for 55k total. All help is greatly appreciated.
     
    branj5257, Jul 2, 2019
    branj5257, Jul 2, 2019
    #1
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  3. Jul 3, 2019 #2
    Ridgeline

    Ridgeline Road Train Member

    22,642
    120,741
    Dec 18, 2011
    Michigan
    0
    But is it worth it?
     
    Ridgeline, Jul 3, 2019
    Ridgeline, Jul 3, 2019
    #2
  4. Jul 3, 2019 #3
    stillwurkin

    stillwurkin Road Train Member

    1,756
    2,856
    Dec 2, 2017
    0
    Talk to you friendly bankers. Hitting the lottery probably won't work. Any wealthy relatives?
     
    stillwurkin, Jul 3, 2019
    stillwurkin, Jul 3, 2019
    #3
  5. Jul 3, 2019 #4
    D.Tibbitt

    D.Tibbitt Road Train Member

    22,303
    153,440
    Apr 26, 2013
    Gettin' down westbound
    0
    Lending club
     
    D.Tibbitt, Jul 3, 2019
    D.Tibbitt, Jul 3, 2019
    #4
    stillwurkin Thanks this.
  7. Jul 5, 2019 #5
    I glide 47

    I glide 47 Road Train Member

    1,426
    1,523
    Jun 3, 2017
    0
    Peer to peer . Com
     
    I glide 47, Jul 5, 2019
    I glide 47, Jul 5, 2019
    #5
  8. Jul 5, 2019 #6
    branj5257

    branj5257 Bobtail Member

    27
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    Jul 12, 2017
    0
    I was referred by Big Rig Lending to Ascent Transportation. Anyone dealt with these guys before?
     
    branj5257, Jul 5, 2019
    branj5257, Jul 5, 2019
    #6
  9. Jul 7, 2019 #7
    fortycalglock

    fortycalglock Road Train Member

    6,160
    6,602
    Jun 25, 2011
    Tourist Town, FL
    0
    There are quite a few that will finance a private sale, but like Ridgline said, is it worth it.
     
    fortycalglock, Jul 7, 2019
    fortycalglock, Jul 7, 2019
    #7
  10. Jul 7, 2019 #9
    branj5257

    branj5257 Bobtail Member

    27
    11
    Jul 12, 2017
    0
    To address that question, the sale was proposed by my brother-in-law who isn’t happy with the larger payout he thought he would get. The truck is currently moving water from Niagra to Costco’s and Sams. Averaging 2-4 loads per day and right at 3k per week. So yes I suppose it’s worth it.
     
    branj5257, Jul 7, 2019
    branj5257, Jul 7, 2019
    #9
  11. Jul 7, 2019 #9
    fortycalglock

    fortycalglock Road Train Member

    6,160
    6,602
    Jun 25, 2011
    Tourist Town, FL
    0
    There’s a reason he wants out. It’s because he’s not making any money. The bank doesn’t care too much about the cheap freight the truck’s hauling, they care about what the truck is worth so when they repo it, they don’t lose money. What are the specs on the truck and trailer
     
    fortycalglock, Jul 7, 2019
    fortycalglock, Jul 7, 2019
    #9
    JonJon78 Thanks this.
  12. Jul 7, 2019 #10
    snowwy

    snowwy Road Train Member

    20,594
    13,315
    Jul 6, 2009
    0
    3k a week isn't worth it

    4 maybe.
     
    snowwy, Jul 7, 2019
    snowwy, Jul 7, 2019
    #10
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