owner operater

Until they run out of money for plates, insurance or a big repair!

 

All I can tell you is that if you ask a bank for equipment financing, it goes to a higher level than the branch - they consider it a 'high risk' business.

I've researched it before, it ranks in the top 5.

 

Unless you're in good with your banker. I wrote a check (that I couldn't cover) for my truck, then went to the bank and threw the title up in his desk.

Me: "I bought this truck yesterday."

Banker: (big sigh) "How much do ya need this time?"

BUT, I've banked there ever since they opened. Paid off too many loans to count. Plus I got a good deal on this truck and he knew it. And I had a hefty down payment.

But yeah, you're right. It's considered high risk in most instances.