Financing with bad credit

Discussion in 'Trucker Taxes and Truck Financing' started by tribalone, Dec 27, 2013.

  1. Chattduck

    Chattduck Light Load Member

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    This country is full of very successful millionaires who failed in their first, second, and even third attempts in business. They learned from their mistakes and misfortunes, and kept working hard to achieve the success that they knew was within their grasp. Also, this country went thru a depression and took many down for unforeseen reasons. General Motors got a second chance, why shouldn't this guy?
     
  2. Chinatown

    Chinatown Road Train Member

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    Everyone is just one divorce away from bankruptcy!
     
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  3. Rooster1291979

    Rooster1291979 Road Train Member

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    Many people have been successful at Lone Mountain Truck. They finance to most people. However, they do want you to have a few thousand saved up for maintenance and such.
    Keep in mind many have also failed horribly at Lone Mountain. It's all up to you.
     
  4. aktundratugger

    aktundratugger Light Load Member

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    Tribalone 13 responses b 4 you get an answer was about the same as my 1st post, expect it, good luck.
     
  5. CondoCruiser

    CondoCruiser The Legend

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    With a clean slate and 5 years time you need to start small and rebuild your credit first. You can do this in 6-12 months. Get a couple small credit cards and charge like $200. Don't pay them off but make the scheduled payments on time. Go down to a local small time finance company and do the same thing. They'll let you borrow $300-500. Don't spend the money but use it to make the payments. In about 4 month's time your score will be up above 700.

    Then you can get a big loan at a decent rate. You don't want a ridiculous rate because that would mean thousands of dollars.

    I had a friend buy a house and a new car 1 year after he filed bankruptcy. Just play the rebuild credit game. All you are doing is painting a picture.

    I bought my first house when I was 24. I had zero credit. I did what I said in paragraph 1 and in no time I had great credit. I had one loan office I took out 3 loans in 1 year. I didn't need them. I made a few payments each and used their own money to pay them off.
     
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  6. CondoCruiser

    CondoCruiser The Legend

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    I'm the first to preach if one is bad with handling money they don't need to become an owner operator. But bankruptcy is a different story. The number one reason people file bankruptcy is they get swamped with medical bills. One life even can mean $100,000 quickly. Like you said divorce can get ugly real quick. Then there is loss of job.

    In most cases bankruptcy has nothing to do with one's character and track record. Like that lawyer on TV here says, "everyone deserves a second chance"! :) Just don't get over your head and play the game wisely.
     
  7. Richter

    Richter Road Train Member

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    Yea I would....I'd rather give the guy a hard truth then let him waste his money.
     
  8. cabwrecker

    cabwrecker The clutch wrecker

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    Failure is the successful mans secret to success.
     
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  9. Lucar

    Lucar Road Train Member

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    if you try and achieve it at the first try is it really success??
    or if you try a thousand times and then you succeed, then that could be called success?
    how many times Mr. graham tried the bulb light crap (no LEDs existed back then.. dear God) before he actually succeeded?

    try trucknation.net also arrow truck sales.. stay away from the ATS (american truck showroom) sharks.. God bless your new project.
     
  10. Richter

    Richter Road Train Member

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    Alexander graham bell invented the telephone....edision invented the light bulb.... If ur gonna make fun of my comment at least get ur fact strait