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Need HELP to find a finance company!!!

Discussion in 'Experienced Truckers' Advice' started by RandynAutumn, Apr 9, 2011.

Page 1 of 3
  1. Apr 9, 2011 #1
    RandynAutumn

    RandynAutumn Bobtail Member

    4
    0
    Apr 8, 2011
    Binghamton, NY
    0
    Hi... We are finding it hard to get financed for a truck. Everyone wants a credit score over 650, and sadly we do not. Does anyone know of a legit financing company that can help us out?? Thank you!
     
    RandynAutumn, Apr 9, 2011
    RandynAutumn, Apr 9, 2011
    #1
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  3. Apr 9, 2011 #2
    Elendil

    Elendil Heavy Load Member

    921
    626
    Mar 27, 2011
    Ottawa, IL
    0
    I've worked in lending for 20 years. Let me ask some questions to better be able to assess the situation.

    What size down payment do you have?
    Are you buying used or new?
    Do you already have loads lined up for this truck?
     
    Elendil, Apr 9, 2011
    Elendil, Apr 9, 2011
    #2
  4. Apr 9, 2011 #3
    Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

    10,740
    12,462
    May 28, 2009
    Rancho Mirage, Ca.
    0
    Not only do you need decent credit, but also a decent down payment and job experience too. Someone out there will finance you, you just have to look. Be prepared to make high monthly payments though.
     
    Allow Me., Apr 9, 2011
    Allow Me., Apr 9, 2011
    #3
  5. Apr 9, 2011 #4
    Marksteven

    Marksteven Road Train Member

    1,364
    1,369
    Apr 24, 2009
    Bumble Fxxx
    0
    Try GE Capital, Maybe??
     
    Marksteven, Apr 9, 2011
    Marksteven, Apr 9, 2011
    #4
  7. Apr 9, 2011 #5
    123456

    123456 Road Train Member

    10,555
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    Oct 22, 2010
    32179
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    Lease man,

    lease !!!!!!!!!!!
     
    123456, Apr 9, 2011
    123456, Apr 9, 2011
    #5
  8. Apr 9, 2011 #6
    Elendil

    Elendil Heavy Load Member

    921
    626
    Mar 27, 2011
    Ottawa, IL
    0
    If you lease you will be bankrupt in a year. Better to just file now and skip the next year.
     
    Elendil, Apr 9, 2011
    Elendil, Apr 9, 2011
    #6
  9. Apr 9, 2011 #7
    123456

    123456 Road Train Member

    10,555
    5,747
    Oct 22, 2010
    32179
    0
    There are many lease drivers on this site, they are NOT having any problems.

    It is doable.........
     
    123456, Apr 9, 2011
    123456, Apr 9, 2011
    #7
    DrtyDiesel Thanks this.
  10. Apr 9, 2011 #8
    canuck in da truck

    canuck in da truck Road Train Member

    4,352
    2,601
    Aug 6, 2010
    western pa
    0
    i think he wants to make some money soon rather than pay for somebody elses truck first---so no to the lease

    there are a few dealers that will work with your financing----i have no idea what they will charge for %
    but check in the truck paper you can find their adds there
     
    canuck in da truck, Apr 9, 2011
    canuck in da truck, Apr 9, 2011
    #8
  11. Apr 9, 2011 #9
    scottchris71

    scottchris71 Light Load Member

    165
    49
    Nov 18, 2010
    iowa
    0
    With only a year over the road..and a lousy credit score..you got no bussiness buying a truck...a fool and his money will soon part
     
    scottchris71, Apr 9, 2011
    scottchris71, Apr 9, 2011
    #9
    Tazz Thanks this.
  12. Apr 9, 2011 #10
    RandynAutumn

    RandynAutumn Bobtail Member

    4
    0
    Apr 8, 2011
    Binghamton, NY
    0
    Thank you!
     
    RandynAutumn, Apr 9, 2011
    RandynAutumn, Apr 9, 2011
    #10
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