Hello trucking friends,
as the title states I'm trying to get an understanding for the qualifications for a new truck loan, here's my situation: I have 7yrs trucking experience with a mix of regional and long-haul, BUT its from 2007-2014, I stopped driving and just got my cdl again. Of those 7yrs I was an owner operator the last 5yrs, my credit is 790 and I plan on putting up 5-10% of the truck cost down. I haven't started speaking with financing people yet but want to get insight from you guys/gals first. How much problem will old experience (that can be verified with a large company) play? I had one of the top safety ratings in my terminal (3rd best of 50 trucks). Are there companies that loan in this situation?
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Truck Purchase Qualifications, Old O/O Exp.
Discussion in 'Lease Purchase Trucking Forum' started by tenfourrr, Sep 22, 2021.
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30% down and any dealerships will get you financed….. bigger problem is no one has any new trucks in stock and used prices are absolutely ridiculous…….
Bean Jr. Thanks this. -
I don't think experience will play a part. Credit worthiness will. Talk to your local Banker that you would normally use.
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Bean Jr. Thanks this.
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