How did you get your truck?

Always CASH. Bought first one in 1979. Latest truck(#6) in June of 2013.

 

cash for the first one, bank(Paccar) for the second one. Don't like borrowing, but sometimes you have to. Don't like the interest rate I got, so looking at a local bank to refi. A lot lower interest rate with the bank.

 

A little different situation my first was gave to me. Not that I don't appreciate it but I have used it little but always keep it legal for a back up. I bought several with borrowed money and fixed them up a little with the purpose of selling them done ok broke even for the most part. This last one was bought with cash on the barrel head earned with blood sweat and a few tears. She sure ain't much but she is ours.

 

Maybe I don't do this the right way but it has worked for me on my truck trailer and several pickups. I will finance with the bank or dealership which ever can give me the better interest rate. What I do is pay 1000 or 1200 bucks a month saying the loan payment is anywhere from 300-1000 and pay off early so I don't end up paying all the interest. Did it on my truck and paid it off in two years and also on my timpte hopper and paid it off in 6 months. Just saying this has work for me may not work for everyone.

 

Saved money as a company driver for six years. Made 17% down payment on a new International financed through International Harvester Credit Corp. With the help of the investment tax credit, paid off the loan in 3 1/2 years. Earned a living with that tractor for nine years. Could have traded for a new one, but the trucking industry had been deregulated. Owning was no longer profitable. Continued as a company driver.

 

SAVE, SAVE, SAVE!! I did several lease purchases at Prime and was fairly successful at each lease end with my refunded maintenance escrow accounts. Combined with what I was also able to save I bought my first truck outright for cash..no payment! I still have that truck, overhauled the engine in 2013 and look to get many more miles out of my 2005 Century.

 

Bought from a buddy,paid cash. At the point now,if I can't pay cash,I don't need it.

 

I started driving in 1992 and had almost nothing. In Jan of '98 i paid 84,900 cash for a new pete 379. Then 5 years later I traded for a new 379 and paid cash . I still have this truck because it is non egr. Thats why i traded to get a new truck before egr with a plan of keeping it til the new emissions stuff becomes dependable.....still waiting. My next truck may be a glider. And i will pay cash . Today, I think older cheaper used trucks might be a good way to go. New trucks don't seem to be dependable .

 

First truck paid cash $10.000
Second Truck put down $4000 with $1100 payments
Now I have a 2014 $10,000 down with $2450 in payments for 6 years and like the other guy stated constant paranoia...

 

My first truck was purchased from Arrow Truck Sales with their matching down payment. I put $8000 down and Arrow matched with $4000. The truck was valued at $45,000. We borrowed the rest from Transport Lending on a three year note.

They tried to get me to sign a lease purchase contract but we called them on the scheme and demanded a simple interest loan.