Is there any "online" options to truck financing?

Discussion in 'Trucker Taxes and Truck Financing' started by Blackducati750, Nov 12, 2010.

  1. Nootherids

    Nootherids Light Load Member

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    Oct 28, 2010
    Woodbridge, VA
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    Agreed! Do your homework with many different dealers and finance companies. I was told the same thing by several dealers when I first started looking for a trailer. Then I came across a couple more and made sure to ask the same question. The rates went from 25-30% down to an average of 8-14% which are pretty on par with bank rates for commercial loans. Research and then research some more! :biggrin_2558:
     
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  3. Blackducati750

    Blackducati750 Light Load Member

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    I've been a company driver for my entire career. And always a FLEET company. It was never a situation where I was "driving some other guys truck."
     
  4. Derek Johnson

    Derek Johnson Bobtail Member

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    Nov 16, 2011
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    I know of a great company online called 10-4 Financing. They specialize in truck and trailer purchases. They work with A-D credit and first time buyers. You should be able to find them if you google search 10-4 Financing.

    Good luck!
     
    Blackducati750 Thanks this.
  5. ghostchild

    ghostchild Road Train Member

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    http://10-4financing.com/index.php?option=com_content&view=article&id=2&Itemid=103

    Here's the link to that 10-4 financing company....

    I'm thinking about buying my own truck again also...but I don't like dealers or dealing with banks or anything...

    The guys I work around now, who are doing well for themselves, never deal in corrupt banks...who think you have 10's of extra 1000's of dollars to just give away of your money and time...

    Same with dealers...

    Whom I would compare to this...

    [​IMG]

    And I can't stand when dealers take over publications like 'Truck Trader'...

    [​IMG]

    Dealers have totally destroyed publications like this, whom when first came out, you had ordinary Joes and Janes, selling their used trucks...at very reasonable prices...

    Then come the dealers...buying it up page buy page...and suddenly you notice prices starting to climb way up...

    A used Peterbilt that you saw for sale by private owner weeks earlier for $5,800, suddenly a dealer gets a hold of it and marks that same truck up to $28,000...:biggrin_25513:

    Now you have to finance that moe foe...and end up paying maybe $40,000 for the truck...that a private owner would of let go for $5000.00

    That's why I can't stand dealers or banks...they could careless about you...they will take a piece of junk, and mark it up 10 times it's value, and convince you your getting a great deal....

    Where as farmer Joe.....[​IMG] might just let you have is older Mack truck for $4500.00 cash, just cause he likes your hat...

    Point being, Farmer Joes not trying to skim you for every once of money you got...

    Farmer Joe just wants to see you be happy and succeed and get rid of probably one of several trucks his wife keeps telling him to clear out...

    I'd much rather deal with farmer Joe than a dealer or bank...

    I don't like being lied to and told a piece of junk truck is worth $56,000...so now your financing it, in addition to mechanical bills...

    When I could get that same truck for $5000.00 and perform the same function...

    Ye sure, everyone dreams of the brand new ocean liner truck...

    [​IMG]

    I mean who wouldn't want something like this...

    All I'm saying is if you get an old beater upper first...the money you earn from it, could allow you to out right buy such a truck in cash, or greatly reduce payments buy putting down large down payment...

    Even now as I search online for used day cabs or small sleeper trucks, all the online adds are inudated with dealers throwing rocks back at you...

    Why the heck do I want to pay $25,000 or more for a truck, that's going to get beat up anyways...and just give away all that extra money just for the fun of it?...why?

    As if I've just got years of my life to throw away on makeing payments to banks, who are already sitting on over 2 trillion dollars and refuse to stimulate the economy with...and I want to give them more of my earned money and time?

    To me, dealers destroy dreams, by unessisarily marking things up, knowing you'll go to a bank and finance your life away...finance your precious time and energy away...and freakin skimming 30% off the top....

    Nah...Just not for me...the paper work, all that crap...none of it's for me...

    Or if I did, I'd never borrow more than $10,000 from a bank...to buy a truck with...and then make sure I could pay that truck off in less than a year...like I did before once...

    So for those who say it can't be done, I've already done it...and then sold it...

    And where I work now...like all these guys have their trucks paid for...and just started off with beaters...or when they did get truck paid off...just kept it...and are now living decent middle class lives...
     
  6. Blackducati750

    Blackducati750 Light Load Member

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    Thanks soooo much. When the time comes, I'll check 'em out...
     
  7. Dirtbos

    Dirtbos Bobtail Member

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    Acton, CA
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    It's called "reserve". The difference between the rate "sold" to you by the dealer and the rate that the finance company charges the dealer. Pretty standard in Auto sales. Probably in big truck sales also (I'm guessing, but the odds are with it).
     
  8. ghostchild

    ghostchild Road Train Member

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  9. ghostchild

    ghostchild Road Train Member

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    http://www.trucker.com/Trucks.aspx?EquipType=10&EquipTypeName=Tractor&SubCategory=Day_Cab

    How in the heck is a truck dealership on trucker.com, going to charge you $69,000 for a Kenworth cab over with near half a million miles on it...and then turn around and call that a 'great deal'...:biggrin_255:

    By the time you finance that thing you will have paid near double the price...$130,000 for a cab over truck with near half million miles on it when you bought it??

    [​IMG]

    Yes these are decent trucks, but not if they already have 450,000 miles on them, and then your suppose to pay more for a used day cab than a brand new truck?????

    I call that slimy...and no wonder people are finding alternative ways of financing and or sellers, other than dealers who want to rob you...

    http://thepetestore.com/listing.php?listing=6559

    And here, they're to slick to even tell you what the price of a brand new Pete is...cause they don't want you comparing prices...

    Don't they realize now days people don't like dealers who are slick...

    Just list a price....what's the big deal??

    Cause if your slick from the get go...I will not deal with you...regardless...
     
  10. ghostchild

    ghostchild Road Train Member

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    Banks suck too....You and your stupid loan officers...

    And your stupid criteria....that's why a underworld has developed around your stupid system...duh....
     
  11. ghostchild

    ghostchild Road Train Member

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    Either someone is honest and upfront or they're not...

    I paid a guy back once...on a $4-6,000 loan...

    Never met the man, no credit check...although they did know me through a 3rd party...

    It was simply done the old fashion way...honor and integrity...

    I paid them back early infact...totally out of honor and respect...

    There are many people out here like that...who don't need contracts, or proof of this or proof of that...which means nothing...cause if a persons going to rip you off, their going to rip you off regardless...

    Todays lenders sck....and don't know how to feel out custimors like in the old days...

    It's all about hard data now...which can be very misleading...
     
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