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New member - truck financing professional.

Discussion in 'Trucker Taxes and Truck Financing' started by mrbustillo, Jan 22, 2014.

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  1. Jan 22, 2014 #1
    mrbustillo

    mrbustillo Bobtail Member

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    Jan 22, 2014
    0
    Love this forum - always good info here!
    Always learning new things from you all!

    If I can answer any financing questions...fire away!
     
    mrbustillo, Jan 22, 2014
    mrbustillo, Jan 22, 2014
    #1
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  3. Jan 23, 2014 #2
    281ric

    281ric Road Train Member

    1,248
    809
    Oct 20, 2011
    TX
    0
    Welcome. Can I have some money please?
    I think this is a great place and have always thought it could be a great tool to network and make new friends.
     
    281ric, Jan 23, 2014
    281ric, Jan 23, 2014
    #2
  4. Jan 23, 2014 #3
    mrbustillo

    mrbustillo Bobtail Member

    3
    3
    Jan 22, 2014
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    Well sure! I finance trucks trailers and construction equipment all over the US - so yes you can have money. I guess the bad news is...at some point you do have to pay it back. Free money is just a tough thing to come by...right?
     
    mrbustillo, Jan 23, 2014
    mrbustillo, Jan 23, 2014
    #3
    milskired, Cman301 and 281ric Thank this.
  5. Jan 23, 2014 #4
    wore out

    wore out Numbered Classic

    16,769
    205,264
    Jun 5, 2013
    CHASIN THE DEVIL'S HERD
    0
    Can I have a low payment 0 down and no interest. Yea I know you don't have to say no lol. welcome
     
    wore out, Jan 23, 2014
    wore out, Jan 23, 2014
    #4
    281ric Thanks this.
  7. Jan 23, 2014 #5
    281ric

    281ric Road Train Member

    1,248
    809
    Oct 20, 2011
    TX
    0
    Im not looking for money at this moment but someones gonna ask so here I go.
    Do you have age restrictions? Can you tell us anything about they way you operate?
     
    281ric, Jan 23, 2014
    281ric, Jan 23, 2014
    #5
  8. Jan 23, 2014 #6
    Lucar

    Lucar Road Train Member

    1,396
    891
    Aug 22, 2012
    Texas
    0
    What kind of history as in O/O / credit score do one needs to finance a brand new truck?
     
    Lucar, Jan 23, 2014
    Lucar, Jan 23, 2014
    #6
  9. Jan 23, 2014 #7
    mickey melon

    mickey melon Medium Load Member

    317
    351
    Aug 23, 2013
    Chicago,Il
    0
    Im not sure...But its probably HARDER than buying a $300,000 home....

    id think a score of 700 or better plus 10% down cash or trade

    Remeber folks...Class 8 trucks are considered very high risk............plus the value goes just like a car
     
    mickey melon, Jan 23, 2014
    mickey melon, Jan 23, 2014
    #7
  10. Jan 23, 2014 #8
    mrbustillo

    mrbustillo Bobtail Member

    3
    3
    Jan 22, 2014
    0
    Someone said something about credit scores...which is what its all about... Again generally speaking... Good credit scores for used trucks usually mean rates in that 8% zone - sometimes more sometimes less depending on overall profile. Lower credit scores mean higher down payments and higher rates. If you drop below a 650 score you will likely need 25% down. There is a program that if your credit is very poor but you own free and clear collateral like trucks and trailers to put up that are equal in value to the unit you are buying - we can get you approved that way too. Then theres the 50% cash down program is there for those who have nary a pulse. Rates are high but it can be done. Are we having fun yet?
     
    mrbustillo, Jan 23, 2014
    mrbustillo, Jan 23, 2014
    #8
  11. Jan 23, 2014 #9
    mickey melon

    mickey melon Medium Load Member

    317
    351
    Aug 23, 2013
    Chicago,Il
    0
    Great answers finance guy!!

    I guess If were to buy..I would be sittin pretty........ I pulled my 3 scores 775, 760, and a 708...(Im trying to figure out WHY trans-Union only gives me a 708 Which is good but not perfect)
     
    mickey melon, Jan 23, 2014
    mickey melon, Jan 23, 2014
    #9
  12. Jan 23, 2014 #10
    281ric

    281ric Road Train Member

    1,248
    809
    Oct 20, 2011
    TX
    0
    I cant imagine having that kind of payment hanging over my head
     
    281ric, Jan 23, 2014
    281ric, Jan 23, 2014
    #10
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