I'm looking for financing for a 2007 kenworth t600. It has 1,003,500 miles. Purchase price is $26,500. I have down payment money. 680, 660 credit scores. Cdl since 2000. I don't own a home. I rent. Financing is for a new startup business. I'm looking to get this truck financed. I can't go thru a local bank. Let me know if there's anything else you'd like to know. Any help would be appreciated.
I need financing. Million mile truck.
Discussion in 'Trucker Taxes and Truck Financing' started by Freedomtrucking, Dec 16, 2015.
Page 1 of 3
-
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
Save some more money and pay cash
I don't think you can find a reputable source to finance the truck with 1,000,000 miles on itCottonmouth85, Rock 'n Roll Relocater and mountaingote Thank this. -
Yeah, nobody will finance that. Better get 1.4 million pre egr with overhaul and bunch of other repairs done for like 15-18k
Rex012, 59MackB61, Rock 'n Roll Relocater and 1 other person Thank this. -
Thanks guys. I'm having a hell of a time finding financing for it. Appreciate your input.
-
ramblingman and Freedomtrucking Thank this.
-
i dont think its a good time to buy a truck:/ Rate's are down fuel is cheap and its winter time.. Its hard for me right now as its winter time and my truck didnt wanna stay on the road for 2-3months. Im just now starting to get back up on my feet:/
gentleroger and blairandgretchen Thank this. -
Roadrite mn in St. Cloud minnesota is a buy here pay here. It's not a bad option, it's a lease to buy. Bought two trucks from them already and I'd do it again.
tazman74 and Freedomtrucking Thank this. -
Cottonmouth85 and Freedomtrucking Thank this.
-
You could probably get a loan through Prosper.com and finance it that way, they loan money for business purposes. It's an unsecured loan so they won't be holding your title.
Junkyarddog5958 Thanks this. -
For an amount that small you could look at peer to peer lending like prosper.com, lendingclub.com etc.
However were I going to buy a truck I would be waiting until March. Listening to IC and OO moan about rates and hearing company drivers sitting makes me think.that come March used truck inventory will be relatively high. It will also give you another three months to AGGRESSIVELY save - I'm talking $3,000 a month so when you do borrow it's under $20k and you still have a cash reserve.
I'd also rethink what you're purchasing. A 2007 anything with a million miles is a big roll.of the dice. Look for a used glider. I found a couple last spring that had me itching to.spend money but decided to invest differently.ramblingman and Freedomtrucking Thank this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 1 of 3