The Anti-Lease Purchase Program

I would be interested in owning my own truck. Sounds like a really good opportunity.

 

I'm wondering what came of this ? Did it just fade out or is it still being pursued? I wish you success and would be interested on any details about the venture.

 

I was hoping to do this too.

Ended up getting a pre-approval with http://www.10-4financing.com/ Didn't like the conditions so it never happened. They started with wanting 30% down and first and last months payment. I got them down to 20%, but they still wanted first and last month payments too.

Worked with a company and got approval from www.westbayleasing.com and a SBA microloan to go with it. In the process of closing on those next week. 20% down, $1100 per month for 36 months. Truck and trailer of my choice and setting up a deal with. Was approved for up to $36K for a truck and $14K for a trailer. I went much lower than that when I finally got done dealing.

Also am approved for a truck at http://www.lonemountaintruck.com/


If you want to see if you got what it takes to be an O/O, go try to buy a truck. It's been a most interesting 6 weeks here.

 

It's hard getting financed but I got approved through arrow truck sales but no one is gonna do it with less than 10% up to 20 or 30% down for sure

 

So...basically it's not possible with just a few hundred down and bad credit? I made mistakes when I was young and am paying for it now, but now I have a family and really want a chance at owning my own truck. I just don't know what else I can do. There's gotta be a way, with some company...??

 

There is a way to buy a truck. You have not even gotten your CDL and yet you want to buy a truck. You need to take a couple of deep breaths and relax. Get your CDL, go to work as a company driver and get a couple of years experience. While you work start to save your money and clean up your credit. If you only saved $100/week you could have over $10,000 in 2 years. If you can save $200/week then you would have $20,000 and enough to pay cash for a good used truck. It is not wise to start any business without money and some solid experience. You can have both in a couple of years if you apply yourself and use some discipline. As a company driver you can be earning over $40,000 in a couple of years.

 

Just tell them " I wasn't even driving the truck last month, why do you want THAT payment"

 

I admire what you're doing BBB ! I think as long as you use your discernment to select the right people for this program it may work well. and also word the contract very carefully and be straight up with them as far as what happens if a clutch goes out or tranny or engine rebuild or something. Banks aren't stupid, there's reasons why they don't take this kind of risk. But if you can pick the right trucks and the right individuals I think you will make it work.