Requirements to get your first truck

Getting your own authority means getting an usdot and mc number and getting insurance then once insurance is approved from the fmcsa... Congrats your authority is now active... Now u have 500 other things to do before you can actually get on the road. but u couldnt do these things without an active authority... And for me it was a 3 month long process to get going... All the while, insurance payment is still due every month.

 

It depends on where you go for financing, which will depend on your personal situation. Most anyone can get financing, as long as they're willing to pay the interest.

There are several variables that lenders look at and what it comes down to, is the more you're able to bring to the table, the better the terms you can get.

Experience, FICO, documentation, liquid cash, business plan and home ownership are the main factors.

Yes, lenders do like to see experience, but it is possible to get financing without it.

 

About the same.
Pro tip, try to get your loan througha local bank or credit union. You're not going to like the interest rates at Damilier.
Run a couple of years at Landstar or whatever before you try to become a truly independent O/O.
Good luck

 

There's a thread stuck on top that walks the procedure for authority.

Then you got the one mentioned above for purchasing your first truck.

As for the loan. Depends on your situation. Credit. And bank. And Yada Yada. Some could just simply walk in to their credit union and get a loan. Some could walk in to their bank and have a long drawn out process. And some might need a partial down payment. A business plan may or may not be needed.

ANYONE could walk in to lone mountain with the down payment and a lease contract. Experience or not. Unless that changed in the last couple years.

It varies.

 

I’m not going to have to worry about any of that anymore. I bought a box of scalpels and a first aid kit at Ritchie Bros. Hear there’s good money in brain surgery. Anybody know where a guy finds some of that work?

 

Sounds more like a serial killer kit???

 

Which should follow.

 

I’ve bought 3 Trucks, 2 Trailers. All financed with O dn. Same with cars. New or leased, always 0 dn. Cash is best, but 0 dn. is a close second.