I need financing. Million mile truck.

Discussion in 'Trucker Taxes and Truck Financing' started by Freedomtrucking, Dec 16, 2015.

  1. mp4694330

    mp4694330 Road Train Member

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  3. Freedomtrucking

    Freedomtrucking Bobtail Member

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  4. MM71

    MM71 Medium Load Member

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    Personal loan. Either through your credit union, personal bank, or my favorite Discover. When I started, I pulled a 15k personal loan from discover for "operational cash".
     
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  5. Cottonmouth85

    Cottonmouth85 Bad Influence

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    I hate to be the nay-sayer here or talk down to anyones dreams....But if you wanna buy a truck and jump into the O/O circus you're gunna need alot more than $30k. How are you going to handle startup costs. Plates, Ins, etc. How about operating capital until you start seeing settlements. What if you Blow a drive and the cords take out another tire... or your airbag? Or the inframe you needed, like yesterday. Alot to consider and I'm sure you've thought of those things but I felt the need to point it out.
     
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  6. Eddiec

    Eddiec Road Train Member

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    Check out Sully knows Financing. They do commercial financing on any age vehicle
     
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  7. Jeff1495

    Jeff1495 Bobtail Member

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    You could try Keystone Financial but good luck. When I bought my first truck I had to prepare a personal financial statement and with 250,000.00 in documented assets and great credit they still wanted 27% interest. Any financing for a start up business will be hard to secure.
     
  8. ramblingman

    ramblingman Road Train Member

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    I started with 14k. Had the truck paid off in a month and a half. I was leasing onto a guy who paid me weekly though and let me use his credit card for fuel and emergencies.
     
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  9. ramblingman

    ramblingman Road Train Member

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    Oh and my truck was a 1996 Volvo WIA64TTES with 1.2 million miles. The entire drive train had less than 200k miles though.

    I used the same bank of the guy I was leasing onto and it was 25% down no questions asked.
     
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  10. strollinruss

    strollinruss Road Train Member

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    That's the way to do it man, good job.
     
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  11. John quinton

    John quinton Light Load Member

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    Start up is always hard. try loan mountain.
     
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