Life happens regardless of financing been there and felt it. We lost a whole lot in 2012 bad accident. Your health goes down it does come right back. Your finances are being burned up like California wild fires you will lose. Store up for the "wild life fires"
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Discussion in 'Lease Purchase Trucking Forum' started by Roadpilot2021, Aug 1, 2022.
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Car is worth legitimately $5,000
You owe $4,000
Bank sells for $3,000 at auction.
You now owe $1,000
That's how it happensWisWestern, Another Canadian driver, Chieftains and 2 others Thank this. -
If the borrower gets anything. It's after everyone has taken thier cut , the auction house, the repo company, the banks lost interest, late fees and any handling fees.
Pont is, no matter the financing instrument, the borrower is at risk if they default.Another Canadian driver Thanks this. -
Another Canadian driver Thanks this.
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FWIW, I was perusing auctions today. You can find 2019-2020 Cascadia 126s with between 150k-300k miles for around $82-95k. Obviously, you would need cash to purchase these but I think you can find some close to these prices if you search. A better deal is a 3-4 year old Cascadia 125. I'm thinking of getting a 3-4 year old 125 with less than 400k miles for around $65k. Any advice with used Cascadias?
EquipmentFacts.comAnother Canadian driver Thanks this. -
Another Canadian driver Thanks this.
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Terlingua and Another Canadian driver Thank this.
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Jus sayinjeff18, WisWestern and Another Canadian driver Thank this. -
Not repossessed but sold. The point is if you use traditional financing versus leasing you can build equity. Your name is on the title with a lien holder. You can sell and pay off the loan and have the title released. In a lease purchase the company can go bankrupt before your last payment and you’re sol.
Terlingua and Another Canadian driver Thank this.
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