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Need advice regarding money situation

Discussion in 'Ask An Owner Operator' started by MTT3407, Apr 29, 2013.

Page 1 of 2
  1. Apr 29, 2013 #1
    MTT3407

    MTT3407 Bobtail Member

    9
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    Dec 30, 2012
    0
    Hello,

    I am very new to the truck business and I've gotten myself into a jam!

    My truck needs about 1750.00 in repairs and I don't have the funds available to pay for the truck.

    I tried to apply for a loan but my credit is ######, and no one I know will lend it to me.

    I was wondering if there were any companies that would take my truck title as collateral until the loan is paid off.

    I am not looking for payday loans or car title loan places as I know their interest rates are murder!!!!

    Does anyone know of any other options or companies that could help me out in this situation?

    I outright own a 2006 International Box truck, 24 ft. No liens no nothing!!!!

    I appreciate any advice you can give me!
     
    MTT3407, Apr 29, 2013
    MTT3407, Apr 29, 2013
    #1
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  3. Apr 29, 2013 #2
    bigkev1115

    bigkev1115 Road Train Member

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    You can possibly try a credit union and put your truck up as collateral or find someone willing to cosign with you, or if you know a family member or friend that really trust you and have 1750 to lend to you
     
    bigkev1115, Apr 29, 2013
    bigkev1115, Apr 29, 2013
    #2
  4. Apr 29, 2013 #3
    Oscar the KW

    Oscar the KW Going Tarpless

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    What kind of repairs does it need, could you possibly do the repairs yourself and save some money? Maybe a credit union would work with you for such a small amount. Most banks won't touch anything truck related, to high of a risk.
     
    Oscar the KW, Apr 29, 2013
    Oscar the KW, Apr 29, 2013
    #3
    cetanediesel Thanks this.
  5. Apr 29, 2013 #4
    MTT3407

    MTT3407 Bobtail Member

    9
    0
    Dec 30, 2012
    0
    Thank you for the quick response! It needs the "turbo" replaced. The credit union sounds like a good idea, I'll give it a shot and post the results

    it might help someone else!
     
    MTT3407, Apr 29, 2013
    MTT3407, Apr 29, 2013
    #4
  7. Apr 29, 2013 #5
    dannythetrucker

    dannythetrucker Road Train Member

    2,856
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    May 26, 2011
    everywhere, man
    0
    you have a spare key, right ? when the shop's done just go get it and pay the bill later.
     
    dannythetrucker, Apr 29, 2013
    dannythetrucker, Apr 29, 2013
    #5
    dude6710 Thanks this.
  8. Apr 29, 2013 #6
    Mastertech

    Mastertech Staff Leader / Admin Staff Member Administrator

    117,210
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    Dec 28, 2007
    3rd Rock From The Sun.
    0
    Hopefully if you really pull this trick you end up charged with theft of services.
     
    Mastertech, Apr 29, 2013
    Mastertech, Apr 29, 2013
    #6
  9. Apr 29, 2013 #7
    Real Deal

    Real Deal Medium Load Member

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    May 29, 2012
    Saint George UT
    0
    I think you are done. Most businesses wont loan money on broke down trucks. They wont loan money on running trucks. They know the risk is to high. If you cant cover a small repair like that you are out of business. You just dont know it yet.
     
    Real Deal, Apr 29, 2013
    Real Deal, Apr 29, 2013
    #7
    Mastertech Thanks this.
  10. Apr 29, 2013 #8
    Ezrider_48501

    Ezrider_48501 Road Train Member

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    bismarck, nd
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    got any freight bills yet to be paid? might be able to factor a load or two?
     
    Ezrider_48501, Apr 29, 2013
    Ezrider_48501, Apr 29, 2013
    #8
  11. Apr 29, 2013 #9
    Oscar the KW

    Oscar the KW Going Tarpless

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    LMAO......
     
    Oscar the KW, Apr 29, 2013
    Oscar the KW, Apr 29, 2013
    #9
    dannythetrucker Thanks this.
  12. Apr 29, 2013 #10
    dude6710

    dude6710 Road Train Member

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    MN
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    If you own a car sell that.
     
    dude6710, Apr 29, 2013
    dude6710, Apr 29, 2013
    #10
    Real Deal Thanks this.
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