financing with bad credit
Discussion in 'Trucker Taxes and Truck Financing' started by denaswangin, Jul 11, 2018.
Page 4 of 6
-
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
That's one of their bases.77fib77 Thanks this. -
77fib77 Thanks this.
-
-
Why don’t you just stop by a few truck dealers, they’d be more than happy to work you up a deal. Down payment and interest rate would be explained in full. You would have solid factual answers, not our opinions, which you seem to dislike intensely. Nobody here can give you the answers you’re looking for, so instead of being bothered by the answers and opinions you’re getting, do yourself a favor and go to a place where they actually sell trucks, and I’m absolutely positive, that you can get all the facts and figures you desire. This board doesn’t do well with mystery’s, we’re just a bunch of curious folks here. It’s your money, have fun!
blairandgretchen, dunchues, 77fib77 and 3 others Thank this. -
bryan21384 Thanks this.
-
A bit of advice and an answer.
First the answer, OF COURSE you can buy a truck with 50% down and crap credit, there are lenders out there who will be more than happy to lend to you long notes with high interest.
Second a few bits of advice.
1 - don't mistake the comments here for bashing, we all seen lots and lots of failed people who went into this thinking it was easy money.
2 - I would stay right where you are at, you are making good money, and if you want to get into this as an owner then cut your expenses, get your credit fixed and then consider buying truck.
3 - the warranty doesn't mean ********, it is there to fix some things, other things it won't fix and you have another issue when there is a breakdown, number 4
4 - you need to pay the bills and it is not uncommon to have bills due and a truck down, so most of us who are smart have 4 to 6 months of operating costs saved up in case of problems like this, plus those bills including your truck payment will not wait - the thing about high interest financing with crappy credit is that they are less likely to work with you than if you have good financing. The rub is that the high risk groups are watched closely and the first sign of issues, they move to repo the truck.
5 - buying a truck isn't like buying a car. screw what the dealer/owner says, you have to do Due Diligence and that is done to lower (NOT ELIMINATE) risks of breaking down and making sure the truck is up to doing a job it was made to do. This includes a lot things like dyno and blowby (blowby is done only under a full load), oil analysis of fluids, ECM dump to make sure it is the right one and the numbers all match, having an third party mechanic go through the entire truck to find crap wrong with it (which is also use to negotiate the price down) and a bunch of other things - honestly I'm getting Due Diligence fatigue telling this over and over again. MOST who don't have these things done have a higher risk of breakdowns, fact. Many who claim it doesn't need to be done have been lucky. So this usually costs about $1000 or maybe a little more.
Hope this helps.TankerYankr and TheyCallMeDave Thank this. -
-
Last edited: Jul 12, 2018
dunchues, thaistick and bryan21384 Thank this. -
Dave_in_AZ Thanks this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 4 of 6