Lone Mountain Truck.com

Keep us updated on what you end up doing

 

That interest rate is crazy. Last year my company was brand new, we have similar credit scores and downs, and GE finance gave me a rate of 6% for 48 months. Refinanced on LLC brand new credit at the local credit union within 3 months for a super low rate. I would do some lender shopping.

 

With that kind of money and credit score I'd be looking at a Cat powered Coronado glider from Harrison Truck Centers.....if California is a must, then I'd be looking at the new Western Star..... Daimler Credit for financing.
Iif not, then shop around if your tax guy and you figure on a lease being better numbers wise, try an all inclusive lease from Daimler....Lone Mountain might be my last resort, not because their bad in any way, but because you "should" be able to get a better deal elsewhere.....

 

If the truck price is $152,000 and the numbers on their website are right ($8500 down and $2600 a month), your effective interest rate is about 3.35%. I got this by finding the annual interest rate that would yield a payment of $2600 a month over 60 months on a loan of $143,500. That seems like a pretty good deal, especially relative to the terms offered by the dealer you checked out!

I'm curious how you came up with a cost per mile of $1.11? Do you happen to have a good source for different categories of costs?

Happy trucking,
Truckee1

 

How much are you putting down? And make sure you want those payments of 2500/mo personally I'd buy a truck with some miles and pay 1500/mo especially leasing onto someone. Although I am also looking at it with a decent amount of home time too. So I don't know what your plan is how long you want to stay out etc.

 

Im buying from loan mountain on a 676 credit score. 8500 down and 2675 and it will be a volvo 780

 

As an earlier post said, check into an SBA loan from a bank. With good equity in the truck you should qualify for a good rate of interest.

 

@platinum , Please keep us posted on your experience with Lone Mountain and how you Volvo 780 turns out, are you hauling for a company or yourself?

 

Brand new??

 

Haaaa...lone mountain truck leasing is a crock. I have to deal with them and their bs on a regular basis. They buy a ton of trucks order thru dealers, cancel orders, order same trucks thru another dealer. The reason they cancel is due to not getting parts pricing far less than major fleet purchasers. They used to be based in Iowa but if I recall correctly are now based in Omaha. If you purchase a used as is no warranty truck from them they mean no warranty none. Their local yard is 1.2 miles from my dealership. Had a truck blow the motor leaving and they told him it was his cross to bear. Consider traditional financing. Dealer interest rates are running 2-6% max. Depending on sayebyou purchase there should be no sales tax if used in interstate trucking. I have bought plenty of tri is and never once had to pay sales tax. Put down what you can afford, finance as little as possible. DO NOT use your personal assets to secure business ventures. Happy trucking.