How do you get financed for your first truck

http://www.bbt.com/bbt/business/products/smallbusinessloansandlinesofcredit.html

 

I put 20% down on my 2006 International when I bought it. Got several rates from various lending outfits. Navistar came in lowest rate, so went with them.

 

There going to turn you down because your planning on failing, not succeeding. Your planning on whats going to happen when you fail, the bankers can see it. If you won't back yourself why should they. Thats how they think.

If your not willing to believe in yourself, what makes you think they are going to believe in you.

 

I've talked to several dealers in the last year and have been told that with a 650 or higher fico score and 10% down financing would not be a problem.

 

When trying to get a bussiness loan you need papers lots of papers.
Like a bussiness plan.
Show the money you have made running your bussiness
Show papers with your costs. Fuel / ins. /maintance etc.
Show how you can afford X dollars a month for repaying the loan.

Show your contracts with shippers or show your current contract with the people you are leased to.
The more paper work you can show them the happier they are.
Show the income you are making now.
Remember papers papers papers..

 

KEYSTONE is a ripoff .... 19% interest with 10k down is what they told me ....I just laughed at them ... I have a 760 Credit score and own my house and cars ....same address for over 20 yrs etc....

 

what if you re starting and have just driven for a company never as o/o how are you supposed to show all that? the only thing that would be valid is to have a business plan and maybe some contracts with shippers if you have any