Truck Financing Questions ?

i was about to ask the same question? did he get banned or something

 

what company do you work for?
Ben

 

are you kidding me,what a crock 2nd chance finace is a sled lot for junk trucks that they get back when you breakdown.19-29% interest hidden in a payment you cant make unles you are running 5-6000 miles a week then you might get the advance back.Alot of hidden fees

 

what happenrd to marty cag is he still around? hope he comes back it was very usefull and much needed.----southernpride

 

Marty, I am looking into a lease purchase with CRST. Zero down, $305.00 per week for 100 weeks on an 05 Freitshaker Century, with aout 500,000 miles. At the end of the 100 weeks There is a $5,000 final payment and then the truck is mine. Tell me what your thoughts on this process. Little bit of more information. My CB score is about 620 and I would like to look into purchasing rather than leasing. I would be able to put about $5,000 down if financing wold be an option. Your thoughts on tha as well. Thanks

 

I am not Marty but i will try to answer your question anyway, since it has been 5 years since i started the O/O journey that u are about to start and non stop driving.

a- Your Credit Score is very low. Mine was 720 and still that wasn't good enuf. Because even with the good CS, they are tuff on first buyers.
b-They will do everything to get u sign, because u are perfect candidate that will bring money for them. Because u either will pay high interest rate, work hard and unfortunately fail and turn the truck or keep paying that money untill u own the truck.

U know whats wrong with that ? U failing in fact makes them make more money ! Because they found a guy who paid for a truck that was sitting on the yard, they found a guy who maintained that truck, they found a guy who made payments with high interest rate and if that guy fails they have their truck back. They are the ones on WIN/WIN situation.

Now lets be more optimistic. Lets assume u didn't fail and made the payments and owned the truck. Do not for a second think that u are a free man!!! Hell no, not even close! Now u just unslaved yourself from a company, but slaved to a vehicle ! U are talking about a truck that already has 500,000 miles on it. By the time u pay it it will be close to a million mile. And don't think overhauling the engine will end your headaches. U still will have to deal with rearends, transmission and million other small things that will happen in different times but will cause u tons of money on the side of the road, towing, road service...

Unfortunayely my friend, by the time u own that truck, u will start paying more than your previous truck payments plus frustration, fear of inspection each time u pull into a scale house. U will run 4-5 weeks with no breakdown and just when u start believing that u are about to catch up with the previous UNLUCKY incidents...NOOOO...it will catch u right there somewhere down the road, just when u started to tell urself "whatelse can possibly go wrong ?" !!! And DONT ya ever think extended waranthy BS that u may consider to buy will do u any good...Oh my, i don't even wanna talk about it, i can write a #### book about them.

I figured that out in my second truck and told myself "screw it" My second truck was a Volvo, i took it to Volvo dealer and asked them how much they will value it as a trade for a new truck. They valued it 24K. And the brand new Volvo 780 (Hurricane Express has ordered 30 of them but couldn't buy due to economy) was 119.000 $ almost 20 k off the market price. 2009 virgin Volvo, fully loaded, 600 HP Cummins 18 speed manual with 2100 foot pound torque , sink, office, ref APU and all...i bought it...MAN!!! It has been 13 months now, i enjoy the breakdown free ride, making money *knocking on wood *

U know what i will do ? I will not own it ! 2 more years and i will take it back to Volvo, and get another brand new truck. This way i am only paying 1800 $ a month, using a brand new equipment, safe ( Bears don't even bother to stop when see a good equipment in scale house) Highers my credit score, tax advantage (yes i cant deduct truck payments from my gross but i can deduct depreciation ) And it is my truck, i am not dependent to Prime or this or that. If i dont like the people i am pulling for, i drive to another orientation, i don't go to grayhound bus station with my sleepingbag and a lot more stuff in my arms.

Ohh and...about the money that O/O s make. Yes we make #### loads of money. But if u speak to honest O/O s they will tell u the truth. Not the ones who loves to show off on the CB or truck stop about how much they make. We can only keep a little more than company drivers for ourselves.

Why do we do it then ? Its all about the freedom. My truck, i maintain it, i pay the fuel. She goes whenever and wherever i tell her to go. Not the dispatcher. If i liked to be bossed arround, i wld work in an office or so. Take a good look at your paycheck, and ask yourself an honest answer " how much do i get paid hourly?" If u make an honest calculation, deduct tax, OTR expenses and all, then divide it to the hours but real hours (not how u log it) that u worked, u will come up with 6-10 $ an hour depending on who u haul for and what u haul. Funny isn't it ? It is easier to find a 8-9 $ an hour job somewhere else, be at home everynite like normal people, be with ur wife or kids or any other lovely ones, off weekends....But no, this #### thing is addictive, once u start driving the #### rig, it gets into ur blood

B4 u make a decision, think again. If u are doing ok as company driver and with your dispatcher, stay at where u are. If not, join to family...but i am telling ya, its crazy...everytime that engine rythm changes u will get paranoid, everytime an unfamiliar noise comes from truck u will get all paranoid...it ain't like driving company truck, not even close, where drivers don't givr a #### to any of those, why shd they ? After all if something happens company will pay, they also will pay the tow, or road side service.

No, freedom ain't free

 

Hey all ,so i've been reading .. and learned alot within the hrs .. and my question is i started a lease back in 07' from cr england.. leased a 06' pete 379 70 '' 475hp cat 13spd..power windows side window on the side..very truck with 204,000 miles on it for a year ,when i got it and was paying $469 a week ,so iam rolling but no money coming into me what so ever ,had a comdata card for no reason ..never got paid.. big pretty truck for no reason...so i figure hey this truck can build up my credit ,...but each time no money i see iam getting paid! but going st8 to the truck and driving for free!!, so as of 02/08 i quit broke the lease .. NOW i heard it ''don't ,but i was wondering will this effect my credit score? say if i try to get my own ?
listening to the driver that was with prime i kind regret quiting and iam never a quiter drove solo took every load bad or not they gave me ,just no money in my pocket to live on ..

 

why would you work just to pay everything off and not have any money for you, something don't sound right Cowboy, but it sounds fun. Love your truck

 

So what did happen to Marty?? i tried to send him a PM but his inbox is full, Can someone get ahold of him to get him back in here?

 

I might be looking to purchase by January or even December if things go according to plan. Who offers the best first time buyer plan?

KH