Quick question about buying first truck

They look at your financials yes. This mostly effects your interest rate.

They look at how long you've had a CDL.

They also want to know where the truck is going. They look at who you plan on putting the truck on with.

First truck is gonna run you 20% down. I strongly recommend doing a lease ( like a TRAC lease ), it's the same as purchasing, you may have like a $100 buyout at the end, but you can write off 100% of the down the first year as a direct expense, and all the payments are a direct expense.

You have to have extraordinarily screwed up credit to not get a truck. It's just what are you prepared to pay in interest.

There was a dude there when I got mine getting one at 39% lol.

 

I believe it. I’m sure a lot don’t even know what actual int. rate is. I agree a lease w/ buyout best of both worlds writing off total cost vs interest and depreciation schedule. They can be tricky to figure actual interest though. Usually it’s first 2 pymts dn And 34 pymts of. X. for example. Go to bankrate.com and using their auto loan calculator fill in blanks and compare the numbers. I had people telling me they had a 10% loan structured as a lease.Actually 28% . One guy claimed my math was wrong! I told him to email his math. Never heard back . Watch out for the helpful thieves. If loan only simple interest and no pre- pymt penalties. If lease compare total of pymts on loan calculator using amount of pymts ie 34 not 36 just play around with interest rate to get #s to match and you’ll see what that lease is really costing you interest rate wise

 

I always paid cash For trucks
Never more than $15k plus about $8-10k for repairs before putting it on the road

My advice would be to get an older truck with NO computer on the engine

Not to avoid ELDs but to avoid lots of expensive repairs
This sensor
That sensor
Wiring problems etc

My old trucks with no computer were very reliable
The newer ones broke down all the time when some sensor went bad or some wire broke