Trucking financing

A great carrier/o/o will have a stack of receipts and a local mechanic you can meet him at. ALL will be transparent and obvious. His csa score and his box of reciepts will speak VOLUMES.

 

More common than you think. Plenty of 6figure+ NET earners who have bad credit and are homeless.

 

I started with a 10k truck and turned alot of wrenches getting it on the road. I keep spare parts, belts, filters and tools under the bunk with me.

A 10k truck with 20k put into would go alot further than a used 30k 2013 emissions truck with the def system towards the end of its life span.

15k maintenance fund and room on some high limit credit cards has worked well for me but I also live below my means and do not take my truck to the dealership ever.

Sounds like you may need to some more research and homework. Buying a used truck is huge risk. The more you know the less risk.

 

Buy a 2000 and down truck with that 25k (or less) park it and keep your company job while you rebuild your credit number one, end the truck while learning about every nut and bolt on it over the next year or two.

option 2, fix your credit, keep saving, and put the money down on a brand new truck

I ran my truck a little locally while rebuilding it, but my first real year of running I put 28k under the hood, 10k in the account really doesn’t go that far, you can get going with it, but you need to have atleast credit available to you for a worst case, cash back points add up as well, and it’s a lot easier to do all business purchases on a card then just pay it off every month out or the account

 

The bad credit will be a problem, unless you can pay cash for the truck. Just an example, I have excellent credit and my first truck was at 17.25%. Owner operators have a high failure rate. I got a really good rate on my second truck, but that was after 4 or 5 years in business. This is probably something you don't want to hear,, but I recommend you wait a few years and save more money money.