Please HELP! I'm having trouble financing a truck!

True enough. Everyone's path is different. Also met many O/Os who started on a shoestring when their back was against the wall, and still managed to pull the fat out of the fire.....

I hope the OP becomes one of these. I really do. The odds don't favor the OP. He walks a road paved by the skulls of the fallen.

Also, shouldn't the truck and trailer be secured BEFORE the authority? Even if you're "ready to book your own freight"? Even if you already know you have a dedicated gig running gold bars to Fort Knox as fast as you can turn 'em, gotta have the truck first.

In the words of Foghorn Leghorn, "I say, boy, I say, your IDEA'S right, but you're goin' about it ALL WRONG, son!"

 

I've read a lot of similar things. I've debated the O/O route the last couple of years as I'm tired of working for morons and making the owner money hand over fist while I get peanuts, but never took the plunge. My problem is being able to SAVE enough money in order to have a nice down payment. My credit is decent (740), no debt etc. But with a stay at home wife and a 19 month old, it'd take me 20 years to save up a down payment. I still entertain the idea from time to time though.

Dave

 

Why not make the beautiful credit score work for you and get some business credit cards and stack as much as u can while saving up ur cash to make sure that once you are in business u stay in business.

 

Call your mom and dad, see if they can pony up some cash.

 

a 700 FICO is just "GOOD" but a low grade good.......build that up to about 720 to 750

best to save up more money for at least a 25% down payment, and have some money in the bank as well, and get an "intent to haul contract"..
and most importantly, you may have to wait for a total of 10 years, for that repo to fall off the immediate radar. that can be (at times) as bad as a bankruptcy.

till then, stay employed, preferably with ONE employer till the time is better for you.

best of luck, but i can already see, you are a one post wonder.

FICO scores range from 300 to 850:

• 800+ is exceptional.
• 740 to 799 is very good.
• 670 to 739 is good and represents the median credit score range.
• 580 to 669 is below average.
• 579 or less is poor.

 

That's an interesting thought. Could you elaborate a bit more on that?

Thanks
Dave

 

Dodd Frank, I posted that the other day and have gotten nothing but insults back in reply. Did not used to be like this out here. Dodd Frank is about to be repealed. And thank GOD. Now just have to reenact Glass Steagall. But what the hell do I know.

 

Check out Sully Knows Financing | Fast & Easy Equipment Financing

 

Get a small loan in your business name, 12 month or less, make payments on time and pay it off. It helps, but will not fix the lack of a down payment. See my above post regarding Dodd Frank.

 

10-4 Thanks.

Dave