Have truck, need financing to get away from lease

MY FRIEND THE WAY THE ECONAMY IS RIGHT NOW and with the credit market locked up tight thanks to our wonderfull banks who caused all the problems in the frst place i dont no of anywher you can get anything financed in perticular anything to do with a truck or trailer and i have no idea how long it will last thanks to the present goverment they seem to be making it worse instead of better ive been trying to add another truck for about 6 months now without any success, good luck in your efforts.---southernpride

 

Yeah, capitalism works if the government minds their own freaking business. We should have let all those greedy ######## go under and then let the economy re stimulate itself with new banks that would've done it right.

 

Old post but I had to chime in, I just wanted to say that I couldn't agree with you more!

 

I just was on the phone with the banks and like it was said above they are not wanting to loan any money right now unless you have been in business for years. They used to go with Small Business Loans based on forecast business plans. Now they want years of being in business and even then they will not say you'll have a loan.

Then if you are able to get a loan.... looking at 9%-16%!!

 

only thing you can do is call your bank you bank with, if your credit is pretty good you can probably get financing through them. My husband was going to try the same but with the loss of our home after a heart attack 2 years ago kept us from being able to do so. But your local banks can do a business loan for a tractor. just call them and ask them. some don't but others do, just have to ask them hun. GOOD LUCK!!!

 

hate to tell you this but these lease purchase trucks are never worth anywhere near what they cost. You'd be surprised at what you can buy from a private party for the $10,000 to $20,000 range!

 

Blaming the Banks,,, now that's funny right there.

 

Economy is extremely screwed up right now. Banks would rather build up their cash position so as to qualify to take over cheap assets from other banks going out of business. Another factor is the low freight rates which lenders see as a risk factor. The deregulated market as such is stacked against the o/o, small firm in freight.

 

Stimulus for the trucker, Barack Obama is going to save us all..