financing a commercial truck

thanks

 

What company are u leasing with and clearing 3200 weekly? Been wanting to dust my cdl off for a while now

 

You can be a BCO for Landstar and clear that much. I got a buddy who clears around $4000 per week as a BCO doing dry box.

 

After I mad my down payment on my truck, I had $100 left to my name. Anything is possible if you set your mind to it. 2 years later, I e put over 235k miles on my truck, had a #### load of repairs, and hard times. It’s been a struggle but I’ve made it.

These guys truly are giving the best advice, have plenty of money set aside for repairs, emergencies, sick time, bad weeks, etc.

There are several companies that are great if you’re a first time O/O

PacLease has a deal with MHC kenworth, $5k down with a 500 or better credit score

Arrow truck sales
Cure Leasing
Bush Truck sales
Pathway Truck leasing
Arkansas Equipment Leasing
I65 Truck sales

Most of these don’t report to your credit so they really don’t help you other than getting into a truck. Be very careful when you decide, talk to people, and know what you’re getting into, or you’ll loose your ##* and a whole lot more.

Best of luck!!!

 

I have really good personal credit, its business credit I'm lacking in

 

A down payment is not "lost with IRS".

When buying a business asset such as a truck, the amount of the total cost is capitalized and depreciated in accordance with published schedules.

The depreciation figure and the interest expense on the loan are deductible as business expenses. Nothing is "lost".

If the truck is leased rather than conventionally financed, then the lease payment is deductible.

 

Sounds like you have a good start already. I’ve never submitted a business plan or even a down payment on 3 trucks and 2 trailers over the years.If the Truck your now leasing isn’t worth buying out or not what you want . Go shopping shop around. You already have business experience as a record. Besides most loans require a personal guarantee by you . In other words your credit is what qualifies for the loan. Eventually maybe establish business credit. I’ve never sought it out. It has found me usually at an outrageous interest rate.Not interested. Banking and loans Equipment in business name doesn’t matter they will still come after me if repo’d auctioned and sued for any shortage to satisfy loan.