Loan at 25%?

8J , behind the sly remarks and the jokes the advise is all the same. Doesnt sound like a good deal for you.

 

To be honest if your comfortable with the payment, then the intrest rate doesnt matter.

 

No it's not. Plus business to business loans are not regulated by states.

 

Personal finance has little to do with business finance. There is whole spectrum of other factors in business finance.

 

LOLz, I hear ya. Anyone that uses these types of companies aren't using their head.

 

The finance companies like CAG, mission, etc that cater to new o/o typically have 25% ish rates or higher. If you have a local bank or credit union that will lend on a truck, that is by far your best bet. However, in my area, I've yet to find one and I know several loan officers who checked with friends at other banks as well for me. Once you're established and have a good P&L statement, it's easy to get good finance rates. An alternative to going in major hock is finding a good cheap truck, and financing it on a credit card with an interest rate deal. Getting a 0.9% deal for 12 months on a $15,000 truck is far better deal. It won't help you establish truck credit, but with good personal credit and a good P&L statement and a tax return or two, you'll do fine financing your next truck.

 

Don't most states cap the interest rate for loans at 18.9%? Or is that just for personal vehicles?

 

Totally aside from this offer to buy the truck and the 25% interest rate, are you even in a position to do so with any truck or interest rate?
Do you have the finances to have $10,000 to $20,000 set aside for maintenance and unforeseen repairs/breakdowns.
You do realize once you buy the truck, any truck, you are a dead duck in the water should it breakdown if you don't have the cash to fix it pronto.
It seems like you have just less than a year as a company driver and reading some of your other posts, even your present satisfaction with this company is far from good.

 

The fact that you even asked that question tells me that you have a LOT to learn before you consider becoming an (O/O?). IMHO

 

Run away driver, far away. They are telling you how much they like you at 25%. Stay co. or move on AND be insulted at their offer.

Good luck