Truck Financing Questions ?

Looking 2 buy 2009 freightliner for 30k it has 700k miles i didnt know if i wan to t pay cash are get a short term loan to get credit for my business? & do any 1 know about mbe 4000'07 enginges are they good engines

 

Okay, so to start off, I have about 4 years experience, I have my dad's knowledge thrown at me, and I have a buddy who's in a lease purchase and it just seems...blah. He makes good money, but it would be doubled or tripled if it were HIS truck. Now I am looking I to buying a rig and putting it into the LLC that he has made. I am rebuilding credit and in the mid to upper 600's and wonder if anyone would take that and how. I have money down and all that, but would using the business model he has produced with an LP work for me buying a truck from a dealer? Minus the differences in pay (he's mileage, I'd be percentage) would it affect anything?

Basically I'm wondering if I should just continue building credit and stay company driver, or if I should do an LP to build a business model to throw around. I've done all the tracking of numbers and such, so I have that figured out. I just want freedom that company driving can't give me, and as does everyone else, I would like it sooner than later. Hopefully someone can throw me some ideas, or dealers who could work with me.

I also hope this made sense to you guys haha.

 

hello can any 1 tell me a lil about the maxforce 13 engine 2011 international is that good engine

 

Sammons out of missoula mt. We lease flatbed from them

 

I am also in the do my homework phase of buying my first truck and your advise is helpful thanks...am wondering if the $12,000 i have saved for this endeavour is enough...20 % down payment will take 90 % of my start up..am in the do or die mode with determination to make it...l have been averaging right around 110,000 miles with this company for the past 6 yrs and it seems its about to go south so this is an opportune time to jump in with both feet and get my own truck..any more useful advise would be welcome

 

Your plan is extremely risky, if your truck needs a few things after three months of running hard, you'll spend over $12,000 in repairs and you won't have the money for it. Then what? Your truck won't be running while in the shop, your fixed expenses will continue to add up and without money in the bank you'll lose everything. The scenario I described happens every day to owner operators who didn't plan ahead and hoped for the best. Some will never have any problems and they will brag on this forum, but the guys that didn't make it, we won't hear about them because they are too busy trying to work two or three jobs flipping burgers to pay rent and food on their table.
This is a very risky business and the rate of failure is very high. I would advise you to save more money then when you have enough for a start up, including reserves for repairs etc, then go for it. It could be very rewarding especially for guys who enjoy being in charge of their own destiny.
Just my 2 ¢

 

is it possible to purchase a truck with little or no payment down...if so where....ty

 

Depends on your credit score. If it's over 700 and you already have a job,you may quality for no down payment up to 60k with Mercedes Benz credit if you get a truck from Freighliner or places like Selec Trucks of Houston. You can google it for more specific information.
Hope this helps.

 

What are some of the banks that will give commercial truck loans? I have an excellent credit union and a high credit score, but they don't do commercial.

 

really wanting to get my own truck. I have been driving for over a year. I really like the lifestyle I just want to start my own business. need help finding a good finance company or used truck sales companies