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Financing trucks

Discussion in 'Ask An Owner Operator' started by Ed james, Jul 4, 2023.

Page 1 of 2
  1. Jul 4, 2023 #1
    Ed james

    Ed james Bobtail Member

    36
    67
    Apr 25, 2023
    0
    Been watching Troy Massey videos and the guy seems to be absolutely balling. He has lots of trucks so I assume he owes lots of money. Is it practical to buys several trucks on credit or his he just lucky?
     
    Ed james, Jul 4, 2023
    Ed james, Jul 4, 2023
    #1
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  3. Jul 4, 2023 #2
    Long FLD

    Long FLD Road Train Member

    12,550
    52,189
    Mar 4, 2015
    0
    Seeing how he owns over 400 trucks between two companies I doubt it’s just luck.
     
    Long FLD, Jul 4, 2023
    Long FLD, Jul 4, 2023
    #2
    tscottme, Siinman, Big Road Skateboard and 1 other person Thank this.
  4. Jul 5, 2023 #3
    tscottme

    tscottme Road Train Member

    14,848
    28,759
    Jul 25, 2008
    Somewhere out West, in my mind.
    0
    It depends on your business credit, down payment, proven revenue.
     
    tscottme, Jul 5, 2023
    tscottme, Jul 5, 2023
    #3
  5. Jul 5, 2023 #4
    Ridgeline

    Ridgeline Road Train Member

    22,642
    120,741
    Dec 18, 2011
    Michigan
    0
    He owns ~330 trucks, he has if I remember finances at 60%. This is normal in medium fleets.
     
    Ridgeline, Jul 5, 2023
    Ridgeline, Jul 5, 2023
    #4
    Siinman Thanks this.
  7. Jul 5, 2023 #5
    Long FLD

    Long FLD Road Train Member

    12,550
    52,189
    Mar 4, 2015
    0
    He has 2 companies and the total is over 400. Tri State Vacuum and Massey Motor Freight.
     
    Long FLD, Jul 5, 2023
    Long FLD, Jul 5, 2023
    #5
    Siinman Thanks this.
  8. Jul 5, 2023 #6
    Midwest Trucker

    Midwest Trucker Road Train Member

    5,912
    21,382
    Aug 31, 2018
    0
    Define “balling”? I know what it means but what did you see that makes you think that?
     
    Midwest Trucker, Jul 5, 2023
    Midwest Trucker, Jul 5, 2023
    #6
    Oxbow and Siinman Thank this.
  9. Jul 5, 2023 #7
    Long FLD

    Long FLD Road Train Member

    12,550
    52,189
    Mar 4, 2015
    0
    This is one of three trucks that do nothing except go to shows.

    IMG_6462.jpeg
     
    Long FLD, Jul 5, 2023
    Long FLD, Jul 5, 2023
    #7
    Rideandrepair and Siinman Thank this.
  10. Jul 5, 2023 #8
    Siinman

    Siinman Road Train Member

    5,457
    14,026
    Mar 5, 2017
    Kansas City, MO.
    0
    Must be about some kind of tax write offs or he just really likes going to truck shows. Prob a little bit of both as it can be used for advertising just the same. Cant be mad at a guy for doing what he wants and having some kind of fun on the way.
     
    Siinman, Jul 5, 2023
    Siinman, Jul 5, 2023
    #8
    TheLoadOut, kemosabi49 and Long FLD Thank this.
  11. Jul 5, 2023 #9
    Ridgeline

    Ridgeline Road Train Member

    22,642
    120,741
    Dec 18, 2011
    Michigan
    0
    I know he has two companies, the last I was told it was around 330, and that wasn't too long ago.
     
    Ridgeline, Jul 5, 2023
    Ridgeline, Jul 5, 2023
    #9
  12. Jul 5, 2023 #10
    Brandonpdx

    Brandonpdx Road Train Member

    4,544
    4,496
    Dec 27, 2007
    Elkhart, IN
    0
    kind of a waste of a truck IMO. I mean, it's a late model Peterbilt, not a WW2 era Merlin engine.
     
    Brandonpdx, Jul 5, 2023
    Brandonpdx, Jul 5, 2023
    #10
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