now this post is a little different it concerns those drivers wanting to buy there own truck and for those that might want to Sue me for using your name feel free id be glad to dance with you in court.
first of all your going to have problem financing a truck most banks and finance company's are not lending period and it has nothing to do with your credit it's the banks and the economy but the banks make the economy what it is so don;t blame yourself it's the banks an the us congress.
now the first thing your going to come across is the application here something you don't know about the application TO MUCH INFORMATION the bank has no business with you personal banking information or anybody else for that matter you don't pay for a truck from your personal bank account the truck makes it's own money and pays for itself when you give them this type of information they can go into your account any time they please and just help them selves , not a good thing.
401k and savings accounts , they don't need to know none of there business but they all ask,why would you give that kind of information it just gives them access to your savings , you really want that?
banks have all got together or most and pooled there trucks in one or more locations so that they are convienant to get at there all repo's and there are a lot of them one such location is atlanta ga they have at last count 525 trucks and trailers , but try to buy one i tried to buy one for cash they wouldn't even give me a price they don't sell for cash they ake more money if it's financed the dealer that handels those is bulldog truck sales now there a peice of work if im not mistaken on there appication tey want your first born as so called security.
why do they want all this informatio? simple when they go to repo the truck they can find it easier ad they can put a lean on your bank account to get there money.
another such company is truck discount out of pa nice people but they lie a lot and ther application is just as bad or worse.
in other words they banks want you to pay for there mistakes and if you fill out one of those applcation if your not carfefull you will.
can you do anything about it ? nope not that i no of but you do need to be aware of what your up against,the days of the honest banker are long past and it promises to get worse and what makes it worse the finance company are just as bad , truckg can be good but the finance company's and the banks make it awfull hard to get started hopefully this will keep you from getting burned good luck to all of you.
southerenpride
Truck financeing
Discussion in 'Experienced Truckers' Advice' started by southernpride, Sep 3, 2010.
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now my friend in all honesty it's goingto be tough with the financil market the way it is although with that kind of down payment it is posible i hope you get it done. southernpride
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yah know lilbit,thats a hell of a thought! i think sp with his 40 years of ups an downs and his buisness knowledge ,would make a hell of a book!!!! and it could be marketed in the truckstops and other outlets and the internet,,,he could become a celeberty!!!! i realy think it would work
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
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