Lone Mountain New Trucks

I speak from experience, save the money if it's from someone other then the manufacture

 

I worked for a company that leased trucks through Wichita Kenworth using Paclease. Monthly payment + .10/mile to cover maintenance issues. Downside was Wichita Kenworth wanted any work, oil changes, etc. done between their 4 dealers ONLY. I was thinking about Paclease and doing that but my friend has his 2016 Cascadia he bought through Lone Mountain and can get it serviced where he wants. I don't have good credit so Lone Mountain is what I am looking at.

 

If you have bad credit why are you trying to buy/lease a truck?
If you have bad credit, everyone that is willing to extend you credit is going to charge you extremely high interest rates!! This will continue well beyond the initial lease..
Some advice.. Learn how to manage your money now. Fix your credit.. Save up some money.. Then consider a truck.
During the first 3 steps learn about running a business and track the numbers on the company truck you are drive now to give you an idea of what your in for

 

Why does everyone automatically assume when someone has less than perfect credit that they don't know how to manage their money? In today's world almost everything is attached to your credit score and so many things can happen that can negatively effect it.

 

Someone with bad credit planning to go into business by signing a lease for a truck they can't afford with no money down coz they don't have any to put down is not good at managing their money or they wouldn't jump into such a bad deal.
What can negatively effect your credit score other then buying what you can't afford and falling short on your commitments?

 

Hmmm lets see, two of the biggest would be divorce and medical bills. Followed by a loss of a job that was no fault of your own and not being able to find a comparable job quickly. #### happens, you can't automatically assume people with less than perfect credit don't know how to manage their money.

 

The post I was replying to was planning to lease a truck with bad credit and likely no money in the bank. Which would mean every time they need to use credit to keep them going it will be extremely high interest. What part of that sounds like good money management?

 

I would check with my bank or credit union on getting a loan. When buying my two gliders new GE wanted 10% interest. But they were able to give me an answer the same day we called them. Thought 10% was a ripoff so I called my bank, took 2-3 weeks and they wanted all my tax and a p&l statement, but was able to get the first truck for 4.83% and the second for 5.2%.. 10% down on each and they were purchased 1 yr apart.
That is a lot of money per month in just interest. We are talking $200-$300 per month just for finance charges. That is a pretty good reason for them to take a chance on someone with less than stellar credit. And since they got your 10% down plus a hefty markup on the truck they could care less if they have to come take it away.
They prey on people like that.
My 389 glider will end up costing $25000 less than what your paying for that truck. Good luck in whatever you decide.

 

The part where we have no idea what his actual financial status is. He may have a nice nest egg saved up and doesn't want to touch it for buying the truck. Giving people solid advice is one thing, but insinuating that no one in these situations knows how to manage money is just foolish IMHO.

 

If your willing to pay that kind of interest and give up that much money just in financing alone, then he is the one being foolish and his money management skills are highly questionable. Even the bank thinks so or they wouldn't be bending him over and...........well you know how the rest of that sentence goes.