Need quick access to funds

Discussion in 'Ask An Owner Operator' started by Neverquittrucking228, Feb 25, 2022.

  1. jamespmack

    jamespmack Road Train Member

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    Most banks/credit unions say they will not finance trucks. But most will loan you money against a clear title and good credit score. Because you already own it. Just don't try and finance to much.

    Most anyplace would give you 10-15k on 50k value. But you will need to present your trucks value after repair. No kelly blue book for trucks. Search on truckpaper for 4 or 5 trucks as similar to yours as you can. Present that to them.

    No its not ideal, but more than one emergency is known to happen in life.

    But of your maxed out on credit, this may be your last chance.
     
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  3. lester

    lester Midwest's #1 Feed Hauler

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    Actually there is something like kelly blue book for trucks. My banker used it. Don't know what exactly it was but it was just like KBB only for semis. I thought the value it gave was low but.

    And who says a bank won't lend money for semi truck or trailers??.
     
  4. jamespmack

    jamespmack Road Train Member

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    Show me this? I'd like to see it.

    At this point I'll say your banker in full of it.
     
  5. lester

    lester Midwest's #1 Feed Hauler

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    Wish I knew what it was, I think it's proprietary for banks.
    But I saw it with my own eyes in the computer screen. Very similar to kbb. Brand, engine type and size, recent rebuild, transmission speed, chrome stacks. All that stuff. Right up until I saw it I didn't think it existed either
     
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  6. buddyd157

    buddyd157 Road Train Member

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    could have been something like this..??

    https://www.trucks.com/commercial-trucks-values/


    Semi Trucks Blue Book
     
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  7. roundhouse

    roundhouse Road Train Member

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    Depends on the bills

    Some bills have worse consequences for getting behind than others .

    utility company will disconnect in a couple of weeks
    Auto loan will get the car repossessed in a few weeks , if they can find it .

    A mortgage company isn’t going to start foreclosure proceedings for months .

    whatever the bills are , just talk to the people .

    with the China flu ,
    Most places are a lot more relaxed about late Pay’s than before

    but ONLY if you Communicate with them .
     
  8. Diesel Dave

    Diesel Dave Last Few of the OUTLAWS

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  9. scoobertdoo

    scoobertdoo Road Train Member

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    Sell the truck, go drive for someone else, make big bucks and get debt free.

    Sorry to say this but you sound like you are bad at managing money. I've been back in my own truck 14 months and have $50,000 cash and $85,000 available credit. That's only because I have a spending problem :p

    Seriously, running a business is not for everyone.
     
  10. Oakland Raiders Forever

    Oakland Raiders Forever Medium Load Member

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    If your a high net worth individual First Republic Bank. A few million $$ will get you in the door with them.
     
  11. Oscar the KW

    Oscar the KW Going Tarpless

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    I guess myself and several other people I know must be really lucky then as we have financed trucks and trailers with local banks for many years.
     
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