Looking for exp o/o info for financing

Have you tried select trucks? They seem to be able to help a lot of drivers,who are you leasing to?
I just bought mine from Navistar,GE is the finance comp.Seems they have changed the score board lately and want you to prove you've been an O/O before.I met a guy the other day that didnt have very good credit and he went to Lone Mountain and got an 09 international Pro Star .

 

My first truck was financed through Daimler. I had to put 20% down - so I went used although I was approved for new. My next truck was easier and cheaper to finance.

 

arrow asks for 10%.

pay off your debt, if you can. that will raise your score dramatcially. zero debt will get you up to 680.

my debt wasn't much. and once paid for it didn't really do much. but paying off the credit cards really boosted it up.

a lot of members seem to be buying lone mountain.

i've thought about it. but don't really want to put down 5 phone numbers and get harrased by those phone numbers should things not work out.

 

It's been a long time since I've financed a truck, but any lender that will extend you a loan is going to ask you for references if you don't have perfect credit. There is no way around it.

 

Snowman........do you have any creditcard debt?

 

Equity, Run Son, run fast. This is not a thing for you. There be Sharks in suits out here. Buy a used tractor. Slim chance to make it. They play golf, count money, you eat Raman noodles. Good luck.

 

Hmmm.thats not how it works hon...You want "something"? You EARN credit worthiness ...That's the rules in EVERYTHING in life. You want? you work for it...Done and Done...
Why should someone just handover anything of value without SOME sort of collateral ?Whether its personal references or credit score..
i think you might be a better candidate for a "lease to own" driver.That way you can just walk away to your next endeavor ...

 

IMO you need to work on your financial issues before you even consider truck ownership. Concentrate on paying any unnecessary debt off first credit cards, car loans etc.

 

Save up 35k and buy @ auction. During your saving money period, go to several auctions and study how the bidding works. This may appear as silly detail but ur emotions can rule over logic, when context is missing. Before going to auctions study the price fluctuations on equipment (trucks) that sell @ auction over the year. The difference maybe 15K dollars. Im curious how long it will take as a New Owner Operator to save 15K.