Will being V.A. Loan eligible help with financing?

Discussion in 'Trucker Taxes and Truck Financing' started by Delirious Nomad, Sep 29, 2009.

  1. Delirious Nomad

    Delirious Nomad Light Load Member

    56
    18
    Sep 23, 2009
    Norman,OK
    0
    Hi to every one, hope you all are having a great day.

    I am wondering if having V.A. benefits will help a person procure the financing for purchasing a Tractor and possibly a trailer to start up as an independent contractor going over the road.
    Also, if the V.A. benefits will help with a business loan, would it also apply to the Leasing programs. From what I am learning, Leasing may be a better way to go since the entire lease payments are tax-deductible. I understand that on purchase financing, only the depreciation of the truck is tax deductible. This leads me to another question that maybe some of you can help me with- what is the difference on taxes paid between being an Owner-Operator with an outright purchase financed tractor versus being an Owner-Operator with a Lease-financed tractor? All information would be greatly appreciated.
     
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  3. broncrider

    broncrider Road Train Member

    VA bene's wont do you any good
    BUT since you are eligable for them, im gonna assume your a vet.

    if thats the case, you are eligable for a PATRIOT EXPRESS loan garentee (like the VA home loan, but for a business) thru the SBA (small business ###.)

    they will garentee up to 85% of your small business loan.....check them out
     
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