financing with bad credit

Discussion in 'Trucker Taxes and Truck Financing' started by denaswangin, Jul 11, 2018.

  1. denaswangin

    denaswangin Bobtail Member

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    Feb 24, 2009
    pasadena ca
    0
    is it even possible to purchase a tractor in the 50k to 60k range when my credit went downhill last year and a car repo if i had 25k down ? i already have a company to pull for hauling gasoline tankers and i have 11 years ORT and 4 years local fuel hauling even so will that be enough down payment ? plus 10k in my pocket to get started ???????
     
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  3. Trucking in Tennessee

    Trucking in Tennessee Road Train Member

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    25k might get you a ride. 10k won't last long if you have electrical problems. Sad but true.
     
  4. denaswangin

    denaswangin Bobtail Member

    24
    2
    Feb 24, 2009
    pasadena ca
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    even buying a truck with warranty ???
     
  5. Trucking in Tennessee

    Trucking in Tennessee Road Train Member

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    Most every warranty will only cover stuff in fluid. Electrics are are no no. Ask.
     
    denaswangin Thanks this.
  6. denaswangin

    denaswangin Bobtail Member

    24
    2
    Feb 24, 2009
    pasadena ca
    0
    how bout this one
    what are my chances of financing a 50k -60k truck with EXTREMELY bad credit with 50% down ? and a place to put the truck to work already lined up ?
     
  7. Opus

    Opus Road Train Member

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    If you can, you'll really not like the APR.
     
  8. denaswangin

    denaswangin Bobtail Member

    24
    2
    Feb 24, 2009
    pasadena ca
    0
    is it possible ? any recommendations ?
     
  9. Opus

    Opus Road Train Member

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    The folks selling the truck will hook you up with their lenders. Except 20% down and 25% APR
     
  10. mover man

    mover man Road Train Member

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    Yes it is possible, you will not like the terms. Try kenworth in ft Wayne. I have A friend who had TERRIBLE credit, truck repo, recent divorce, house foreclosed. They turned him down for their in-house finance. But got it down using a LARGE down payment and some high interest bad credit private lender they knew. I wouldn't put down what he did and have payments as high as he did. But like he said he had no choice. He worked his ### of and paid it off in year and half. Guess you can do that when your single with no wife and no life.
     
    bzinger Thanks this.
  11. denaswangin

    denaswangin Bobtail Member

    24
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    Feb 24, 2009
    pasadena ca
    0
    If you dong mind me asking
    With all that he had going on how much was his truck and what did he put down ??
     
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