Requirements to get your first truck

Discussion in 'Experienced Truckers' Advice' started by DrBigRig, Aug 19, 2022.

  1. DrBigRig

    DrBigRig Light Load Member

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    In Canada I required 2 years experience to qualify for a loan to get a used truck for $65K with a $13K downpayment. Whats the requirements in the USA is it a minimum experience thing to for financing?
     
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  3. xsetra

    xsetra Road Train Member

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    Whatever the loan provider requires. No minimums, no maximums.
     
  4. GYPSY65

    GYPSY65 Road Train Member

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    Yeah
    They don’t care like that here but they’re also not quick to take any chances either

    They like to see some sort of game plan and history which I suppose is about the same in the end
     
  5. Big Road Skateboard

    Big Road Skateboard Road Train Member

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    If you can afford a truck, get a CDL, insurance and authority, you can go to work with 0 experience
     
  6. Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    Lenders want to know you are a minimum risk. Fresh out of the gate on monday, applying for a loan Tuesday, well, most will say sorry. Unless you have 80% down pymt.
     
  7. Old Man

    Old Man Road Train Member

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  8. Lennythedriver

    Lennythedriver Road Train Member

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    You know I’ve read a lot about being an owner operator, getting your own authority working under another authority like Landstar blah blah blah. But that aspect of it to me is still unknown. If you want to be a true 100% independent owner operator what are the steps? Nobody really describes them in detail.
    How, who, where, do you go and get your own authority? Lol what the hell is it in the first place. And once you get your own authority, what do you do after that?
     
  9. Big Road Skateboard

    Big Road Skateboard Road Train Member

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  10. Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    A true O/O handles everything which is driving and running a business. By leasing on to someone, they will do a lot of paperwork and dispatch you, for a fee of course. Finding loads can be time consuming. I hated driving and my cell is ringing with a call from the broker or customer. And then finding a load when I got empty. I would rather park it, shower, eat and down a couple cold ones than make phone calls. Anyway, being an O/O you can choose your loads, not so when a co. driver. Get your permits etc buy your truck, go from there. Have fun !
     
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