Used Truck Purchase, Which Volvo Will Be Better For Flatbed?

Discussion in 'Ask An Owner Operator' started by Sgp2790, Jul 17, 2017.

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  1. Jul 17, 2017 #11
    Midnightrider909

    Midnightrider909 Road Train Member

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    Please state your definition of "due diligence". What exactly does a truck buyer need to do to avoid getting a lemon.
     
    Midnightrider909, Jul 17, 2017
    Midnightrider909, Jul 17, 2017
    #11
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  3. Jul 17, 2017 #12
    Sgp2790

    Sgp2790 Bobtail Member

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    The deposit is 100% refundable. And yes, I've arranged to have the truck checked out thoroughly. Dyno, blowby, rigdig, etc.
     
    Sgp2790, Jul 17, 2017
    Sgp2790, Jul 17, 2017
    #12
  4. Jul 17, 2017 #13
    Roberts450

    Roberts450 Road Train Member

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    Work and save enough to buy a brand new truck.
     
    Roberts450, Jul 17, 2017
    Roberts450, Jul 17, 2017
    #13
  5. Jul 17, 2017 #14
    Sgp2790

    Sgp2790 Bobtail Member

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    There are plenty of other similarly equipped and spec'd trucks out there. Unfortunately, after inquiring at a few different lenders, they all want 20% down. Lone Mountain allows me to get away with only applying 10%. I'd rather have the extra cash in case of an emergency. I realize this won't work for everybody but it works for me.

    Thanks for the input.
     
    Sgp2790, Jul 17, 2017
    Sgp2790, Jul 17, 2017
    #14
  7. Jul 17, 2017 #15
    Roberts450

    Roberts450 Road Train Member

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    Did you look at bank only loans or SBA loans? I was able to get a 10% down SBA loan with my credit union. And currently trying to wait patiently for my new 389 to get build.
     
    Roberts450, Jul 17, 2017
    Roberts450, Jul 17, 2017
    #15
  8. Jul 17, 2017 #16
    Sgp2790

    Sgp2790 Bobtail Member

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    I think it's my credit score more than anything else. I am at 680. Once over 700, i'd have more options. So I'm told.
     
    Sgp2790, Jul 17, 2017
    Sgp2790, Jul 17, 2017
    #16
    Roberts450 Thanks this.
  9. Jul 17, 2017 #17
    Midnightrider909

    Midnightrider909 Road Train Member

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    By the time I saved enough they would cost more.
     
    Midnightrider909, Jul 17, 2017
    Midnightrider909, Jul 17, 2017
    #17
  10. Jul 18, 2017 #18
    solitary_con

    solitary_con Light Load Member

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    The score you get and the score a lender gets are totally different. You are probably over 700 already.
     
    solitary_con, Jul 18, 2017
    solitary_con, Jul 18, 2017
    #18
  11. Jul 18, 2017 #19
    Diesel Dave

    Diesel Dave Last Few of the OUTLAWS

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    I'm getting 7.0 on a 1994 Pete 379(avatar) with a modified Cat tune. Open deck hauling
     
    Diesel Dave, Jul 18, 2017
    Diesel Dave, Jul 18, 2017
    #19
  12. Jul 18, 2017 #20
    Sgp2790

    Sgp2790 Bobtail Member

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    Not sure about that one.... If you tally my scores from all three credit bureaus, i am at 680.
     
    Sgp2790, Jul 18, 2017
    Sgp2790, Jul 18, 2017
    #20
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