why cant i use credit card & debit card to purchase a truck

Is this what you want to do? Or you just want to know why you can’t?

technically you can buy with a debit card, if you have the balance on it. It would be almost no different then paying with cash, certified check or money order. Now the credit card, is credit. A lot of institutions don’t accept credit as a payment for credit. Like some bank loans, won’t take a credit card as an auto payment. They want their REAL money back, not credit. It’s to easy for somebody to run up a credit card bill and dump it, default and not pay. Cash has more assurance.

Plus, credit card is just a bad move for a truck period even if one could do it. UNLESS, you got a no interest for 18 months type of promo, then actually paid it off in 18 months. If not the credit interest is 17% on most cards, that’s SAD!!!!

There’s way other ways to get into a truck of your own, and own it. Lone mountain is how I started back when I was 22. I had no credit, not bad credit, they interviewed me, I had my 1 year, 2 year and 5 year business plan laid out, explained how me switching to Lone Moutain was going to reduce my overhead by 50%. Explained the increase in revenue I would by going to Landstar, I estimated real numbers on the low side and the high side of what I expected to see in revenue. Broke down my revenue after fuel and maintenance and proved on paper that I could make my truck notes. I got the loan and the truck. I’ll tell you another thing though, knowing what I know now, I was CRAZY to go into it with the amount of cash I did. After my down payment I had like $700. I thought “O this is plently! All I got to do is get me a couple quick weeks in”... first load one of my California mirrors fly off, about $250 to fix since of course I’m young and naive and don’t have any TOOLS or experience to fix it, the clutch went out early on, emission systems taught me to grow up even quicker ($$$$.$$).

Only thing I would of changed early on was, I would of stayed company driver and saved about 50K. The whole time studying like crazy, business and maintenance threads and videos, I would of selected my first truck much better had I did, I would of started collecting tools in this time, and I would of started with a pre emissions truck. Once I had close to that 50k, I would be looking on Craigslist all around for the motor I want, in a truck that I like. After waiting long enough, the right one would pop up, and I would strike! About $10k-$20k for the truck, pay cash. This leaves you with a 30-40k wiggle room to invest another 5k or so into the truck. Then you get going!!!!

 

no need to run to the bank. they will hold the vehicle for a small deposit, you drive carefully to the bank, and get the money, then you carefully drive back to the dealer and hand them the cash.

that's how i always did it, and know what..??

it works.

no need to be in such a rush for such a large purchase.

hey, good luck,. you got your mind made up.

 

I been hearing truck prices might be going down here soon just a heads up might be better to wait and get a nicer truck for the same price

 

That too!

 

Ten 4

 

Aren't you the same guy that's 3 weeks in the
Whole right now with dart.
And you want to go broke again.
This time on a credit card.

Just go get a real job so you can get a check
Everyweek. Get on your feet.
Your not gonna get rich owning a truck.

 

Why would you drive around with a big stack of cash?

 

If you’re paying cash keep in mind that they have to report any payments in cash past I think was 10k you’re probably going to get some federals looking at you so you better have your nose clean. Too many drug dealers played this game.