How to get a truck with no money down and bad credit

Discussion in 'Trucker Taxes and Truck Financing' started by Truckers_Cow_Girl, Oct 14, 2009.

  1. redoctober83

    redoctober83 Road Train Member

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    That is the worst advice you could give someone. Really, go out get in debt so you can then have the opportunity to get further into debt. Does anyone not see how fracked up that is!?!? If your credit score is nonexistent that's a good thing. By the way nonexistent is not the same as zero. If you're so hell bent on getting a truck by going into debt for it, then save you a 15-25% down payment and find a lender that understands how to do what's called manual underwriting. Most financial institutions just punch in your ss# and look at what the screen says. They don't look at the person, there real finances, experience, etc. A lender that looks at more than a credit score is what you're looking for. The fact that you have no credit score at all means you've paid with cash, don't owe anything to anyone except basic bills and if you have they down payment you show you have good financial sense enough to live below your means and save your money.

    The other option is save up and pay for a truck in cash. Takes a little longer to do for a New truck but still better to have it paid for free and clear and not worry about any payments at all.
     
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  2. kpwise509

    kpwise509 Bobtail Member

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    I'm in the same boat, any help would be much appreciated
     
  3. Thomasrice2016

    Thomasrice2016 Bobtail Member

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    Please tell me what bank financed
     
  4. Thomasrice2016

    Thomasrice2016 Bobtail Member

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    What is the best route to go I had truck that got stolen Sept of 2015 09-19-2015 I'm still waiting on insurance to take care of it they r delaying it at all causes not wanting to pay so I can get another truck what is best option to take and if need a attorney any recommendations for attorney to handle it for me
     
  5. WHITEKNIGHT1973

    WHITEKNIGHT1973 Bobtail Member

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    Did the truck work out for y'all if not I can get your husband a job I'm a senior driver and trainer for Knight in Atlanta so if y'all need to company job to save money I can get you in here since we can't verify his experience all I have to do is take him out for 2 or 3 days and verify he can drive the truck and then I can put you on your own truck just to offer another option it may be a way for you to save some money
     
  6. NightWind

    NightWind Road Train Member

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    Ok I'm jumping in with both feet here. It's a crazy and ludicrous idea to try to buy a truck when you have NO money, no credit and I dare say no plan. I do not see anything about this idea ending well. Get a job work like everyone else and learn the business and the finances. Other wise you're going to be just like the 1000's of others that didn't have a clue what they were doing.
     
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  7. Accidental Trucker

    Accidental Trucker Road Train Member

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    How to get a truck with no money down and bad credit?

    Step 1. Fill out the employment application.......
     
  8. MooneyBravo

    MooneyBravo Medium Load Member

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    I don't want to give you any more bad news but the truth of the matter is anyone that gives you a truck with no money down and bad credit is going to charge you very high interest. They're not going to do this for free.

    Remember this: A poor man asks, how much will it cost me today? A rich man asks, how much will it cost me altogether over time?

    Truck Leasing and buying a vehicle with no money down is intended to attract people who are desperate and have no money saved up and have bad credit records. In the long run they pay so much more than everybody else.

    This is why Car leasing has become so popular these days. Everybody wants what they want when they want it and they want today with no money down because they don't have any money to begin with but they want to ride around in their fancy-dancy cars making you think that they have a lot of money.
    I would highly recommend that you and your boyfriend go get regular jobs doing something and working for someone else, get out of debt, and learn how to fix your credit and how to have good credit.
    Don't tell me that it can't be done because it can be done because I did it.
    I used to have bad credit and then I had no credit and now my score is up in the good Zone and I have lots of money saved up.

    Having bad credit and no money in the bank is a pretty good indication that you are not ready to be a good businessman which is what it will require to be a successful O/O. Do not Marvel when I tell you this. Part of being a successful businessman is staying out of debt and having a good credit score. Take care of those two items first and you will have great potential to being a successful businessman. Getting a truck at this stage is just going to compound the other problems that you have already.

    A poor man asks, how much will it cost me today?
    A rich man asks, how much will it cost me altogether over time?
     
    Last edited: Jan 18, 2018
  9. Ubu

    Ubu Road Train Member

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    People really need to check the date of the posts they reply to.

    The OP made 8 posts total on the forum back in October 2009 yet poster after poster keep replying to her like she’s been waiting for thier reply for.8 plus years.
     
  10. MooneyBravo

    MooneyBravo Medium Load Member

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    OMG
    YOU'RE RIGHT.

    I was looking in the front page of certain categories and it happened to be upfront I didn't have to dig very hard for this one so if it was all the way back in 2009 what the heck was it doing on the front page?
     
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