Financing with bad credit

First off, if you have made bad credit choices in the past, what makes you think you will be successful now. You have bad credit for a reason. If you make bad choices with money, maybe owning a truck isnt for you. Secondly, what are you going to do with 40K? You can find a decent used truck for less then 20. You should also save your own money for maintenance and operational experiences. If you finance everything your not int the position to buy a truck. You should be able to save up your own money. When you have 20k of savings, then take out a loan for 20K or less and buy a truck. You shouldn't be financing operational expenses. If you dont have the discipline to save 20K then you dont have the discipline to be an owner op.

 

Don't hold back, tell us what you really think.

 

The world isn't always a perfect place where things are black and white. We know nothing of this mans story so why talk down to him, why be so condescending, and judgmental. I can think of a few reasons to have bad credit or bankruptcy. Its obvious that you don't have an answer so why talk to him that way? Have you ever had a very sick child? Have you ever been a successful business owner only to see a major event like 9/11 change every thing and the bottom fall out? What about identity theft yes you can monitor your credit but be real. These are just a few I pray with your arrogance you never experiance any of them.

There is a time to be that way, to wake some one up about things, Such as drinking and driving or drugs.

 

I'm with the previous poster. Unless you know the gory details of how someone got into their situation you have no call to be judgmental and rude.

 

O.k. Richter ... 10 hail mary's & sin no more.

 

Any any of those things could happen again. if he didn't make it through with out going bankrupt 5 years ago, what makes you think he will now? Only now its worse because he bought a 40K truck. Some people are not cut out for O/O and imo, if you have had trouble managing finances int he past....whatever the situation, your odds of success go down a lot.

 

Being a Owner/Operator today is hard/difficult at best.A lot of experienced, seasoned ,O/O's are barely staying afloat right now and are basically one major breakdown away from being out of business. With all the 'Mega' fleets low balling rates with their race to the bottom it has become a game of 'pennies' for a O/O or Lease operator. If you have Bad credit and can get financing you will pay a much higher than average interest rate thus, making your chance of survival even slimmer, if not impossible. Maybe you should reconsider being a O/O right now, save your money and get your credit back on track before taking the plunge.

 

im not saying he shouldn't drive a truck, im saying he probably is not in a good possession to be an O/O. But in any case no bank is going to lone him 40k anyway unless he goes to one of those discount lots. So clearly the banks have the same opinion. Instead of berading my response why don't you help the original poster and tell him where to get 40 K

 

Man...guy comes here to ask a question and this is what he gets? If he asked you this question in person just in general conversation would you answer it like you did above? Doubt it.