Advice on getting a truck.

If I were you, I would go to Lone Mountain Truck Leasing. They usually have Volvos and you shouldn't have a problem getting a truck and having operating cash left.

The real problem will be your lack of experience. I'm not aware of any company that will lease you on with no experience. It will be enough of a chore to get your father leased on with one year of experience in the last three.

You will probably both need more recent experience to lease to a good company that pays percentage. I'm not sure who you might lease to that would utilize teams.

 

Loan Mountain seems to be the best bet. Before you jump you need to get insurance rates. You father may be able to get insured but you are going to have a hard time. What we have discussed with people in similar situations that we can't get onto our insurance is that we would help them get their authority and work as a dispatcher and factoring company.

But then the other issue would be that the insurance that you will be looking at is likely going to be Progressive and they mostly write 500 mile radius policies. Not what you want if you are driving teams. What I hear is that to get unlimted radius is that you have to go with an agent in your state. And that is if they are offering unlimited in your state.

Just make sure you can get insured and leased to a carrier or own authority before you do anything. I am sure that Loan Mtn would want to see that you can drive for someone before they will lease to you as well.

Best of luck

 

Lone Mountain Truck Leasing
or
Lyon's Truck and Trailer in Indianapolis

Also, if you are going to lease to a company, Schneider National will lease you a truck and run you in their team division....this might actually be your best choice as they can provide you with plates, insurance and consistant loads

If you are going at it on your own, like Bill said, check with insurance companies first as you not having any experience will jack up the rate VERY high, if they will even insure you at all.

 

Didn't know Lyon's did hard to finance deals. Bought one of my trailers from them and they are great.

 

Yes, Keith has a lending company he started and he does in-house financing for bad credit/no credit ect ect.... he just pulls your credit report and goes from there. I figured maybe the father can get the truck on his own thru there, I highly doubt he will sell a truck to the kid with no experience.

 

I would have never did this. Setting yourself up to loose it all.

 

You borrowed against your house to buy a truck, why?

I agree with Mr. PlumCrazy both may end up with bad credit. I would have never bet my house on a trucking business.

 

This is a really bad idea. It is a worse idea with no experience. I did this in 1979 and lost everything including a wife.

How will you get a company to take you on with no experience?

You can take your CDL test in an automatic but many states are now putting an "automatic only" restriction on the CDL. I assume you would have to retest to be legal in a manual transmission.

Good luck.