Truck Financing for Newbies

Discussion in 'Questions From New Drivers' started by Kamikaze72, Apr 11, 2014.

  1. Kamikaze72

    Kamikaze72 Bobtail Member

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    Apr 11, 2014
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    Hello all,

    I am new to the trucking industry myself. However, I have numerous friends in the business as either brokers or drivers. My question is, I have a buddy who has been urging me for years to purchase a truck and he'd put it to work for me. I'm finally convinced after another buddy finally stepping up and doing it and he's staying busy and making money. My issue is, because I have no previous experience in the business, nobody wants to finance me a truck. I keep looking for cash trucks but unfortunately my cash range is only around $15,000. Well, you can imagine some of the worn out junk I'm finding for 15 grand. As a new person in trucking, does anyone have any ideas where a guy could go to purchase a decent truck and stand a chance at getting at financed? I've only found 2 places that appear to do an "in house" or "lease to own" finance option and both have bad reviews and are priced too high anyway. Are there any options or am I stuck?

    Thanks!
     
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  3. realsupatrucka

    realsupatrucka Road Train Member

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    Experience is a big deal when u buying a truck....if they wont touch u under your personal credit line. ..go get a dba and tax id # anx finance it under that
     
  4. jbatmick

    jbatmick Road Train Member

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    Dec 1, 2009
    hastings, Fl
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    For 15 grand, you can find a starter truck. Takes some looking, but they are out there. Keep looking for a cash deal.

    I do not know of a top rate financing outfit for beginners.
     
    blairandgretchen Thanks this.
  5. gpsman

    gpsman Road Train Member

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    That's exactly how Ponzi schemes gather the stooges.

    I imagine you're stuck in the best place you could be, but I learned everything the hard way myownself.
     
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