New truck
Discussion in 'Car Hauler and Auto Carrier Trucking Forum' started by Kawinige01, Oct 6, 2019.
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In new cars, yes. Even as ugly as this summer has been, still making decent money.
The trajectory of used isn't as promising, unless you're in a market off the traffic lanes. The idiots are doing their best to get rates below van freight in any of the high-traffic lanes.bzinger, BigBob410, brian991219 and 2 others Thank this. -
Well new cars was the plan. If it was you would you lease on or go independent chasing the money??
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O down? In other words you're financing the total amount? Interest payments from the very start?
That's some expensive money.brian991219, stwik and Hammer166 Thank this. -
I'm content to let the carrier worry about all the paperwork hassles too.BigBob410, brian991219, Tropsnart and 1 other person Thank this. -
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zero down would be ok with the right finance terms like a low interest amortized loan around 7 years to help keep the payments down. I have my own authority so I would definitely stay independent. No way would I spend that kind of money on equipment and put someone else's name on the side of my truck. I would become a company driver before leasing on.
Tropsnart and Kawinige01 Thank this. -
It's either a 6 or 7 year term. Can you request an amortized loan?
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Banks and credit unions will consider giving simple interest loans where you pay the same to principal and interest each month. That's better if you don't want to be upside down for as long putting zero down.
In my personal experience, that is the way to go if it's possible. Watch out for ridiculous prepayment penalties on any kind of loan. Most will require a % of the balance as a penalty if you decide to sell for whatever reason.
All of the zero down loans I've seen were front loaded where you pay the interest at a higher percentage of the payments up front and then your payments cover more and more principal as you go farther out. Either way good luck!
99 percent will tell you what they think you should do but only you know how much you're willing to sacrifice to make either situation work.Hammer166 and Kawinige01 Thank this. -
Kawinige01 Thanks this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
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