I freshly have my CDL, and am trying to buy a truck. I have a high 700s credit score with nothing negative on it. I have $42,000 and was wanting to put $24k-$30k down on a truck. Figured a 85k-100k truck and a 20k flatbed trailer would be perfect for what I'm working with. I have called a few lenders and asked if it would be possible to be approved for financing and ALL of them have told me no because I have no CDL experience.
I have even tried talking to my personal bank and asked for an "auto" loan, then after telling them it will be a semi for personal use, they said no lmao (was worth a shot). I have called a couple leasing companies which in return want $25k down and $3500 a month, which I'm fine with paying the monthly, but that down payment would make it tough for me to still find a trailer. If this #### truck market wasn't so #### inflated right now, and didnt need financed for so much, i dont think this would be as much of a problem. Has anyone had experience getting into a truck with no CDL experience? Or does anyone know any companies that help with this?
Im sure im gonna get a ton of "you should get experience first" and "be a company driver until your ready". But its not the answers im looking for, I am confident in myself, and If I fail, well thats on me, lesson learned. Thanks to anyone that may be able to help me out some.
Buying a truck with no driving experience
Discussion in 'Ask An Owner Operator' started by Diligent_Transport, May 7, 2022.
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If you haven't read the many, many threads regarding inexperienced drivers buying their own truck, please do so.
gentleroger, Malt Ball Cult, Dino soar and 7 others Thank this. -
austinmike Thanks this.
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Bfr38, gentleroger, JoeTruck and 3 others Thank this.
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bryan21384, haycarter, exhausted379 and 6 others Thank this.
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bryan21384, Hatt91, blairandgretchen and 3 others Thank this.
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Tell me what the market is like right now?
This will answer all of your questions……or it won’t.TheLoadOut Thanks this. -
I have been around trucking my whole life, as far as regs, the industry, and the business, I pretty much know it. My lack is going to be on the road, learning the truck, etc. I knowaustinmike Thanks this. -
You’ll probably have to save up more money and pay cash, especially if your local bank isn’t willing to work with you.
Diligent_Transport Thanks this. -
D.Tibbitt and motocross25 Thank this.
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