My first expiriens first time truck buyer

Discussion in 'Ask An Owner Operator' started by Road Killer, Nov 23, 2016.

  1. Road Killer

    Road Killer Light Load Member

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    I am searching for a loan to buy my own truck. I am first time truck buyer. I have expiriens 16 years for driving truck, but I do not have expirience with truck loans. Few days ago I apply for personal loan at my local Bank to get money for down payment for truck. Same time I search at Google for opportunity to apply for any Bank.
    I have been apply online and VERY soon Mr. agent had been contact to me, he promise to help me to find GOOD Commercial loan for my own truck. I got my certificate for my own corp. Kozak LLC. Perhaps Tomorrow I will meeting wirh my local Bank Manager to open my Business Account. I will update my story.
     
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  3. BoostedTeg

    BoostedTeg Road Train Member

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    You're getting a loan so you can put money down on a truck?
     
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  4. TallJoe

    TallJoe Road Train Member

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    Don't be surprised by steep interests. I got mine for 15% as the first time buyer. My "bank" was Transport Funding. Don't recommend them. They won't let you pay against the principle unless you pay them in chunks of at least 5000. Good Luck and good money!
     
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  5. Road Killer

    Road Killer Light Load Member

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    Nov 1, 2015
    Middletown, DE
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    Not yet. Tommorow I will talk to my Bank and I hope they open for me Business Account, I hope Bank will give me loan. I have been talk few weeks ago and Bank said we will give you loan for New Truck I need put 10% DW, for Used 20% DW. Interest rate 4.1%.
     
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  6. TallJoe

    TallJoe Road Train Member

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    Wow... This I did not get... If that's the case, it disagrees with my concept of starting out. What about money for emergencies/repairs at least 10K? Still Good Luck!
     
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  7. Road Killer

    Road Killer Light Load Member

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    Nov 1, 2015
    Middletown, DE
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    Thank You. And I am ready for this Interest rate. But I have been in shock today, Mr. agent call me and said, the First National Capital Inc is a privately held company in New York, NY will give me a the loan for 50% ... o_O
     
  8. Road Killer

    Road Killer Light Load Member

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    Nov 1, 2015
    Middletown, DE
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    I am telling you I do have only $5,000 on my Cheking Acc. I am brave I can not stop if I want do this.
     
  9. TallJoe

    TallJoe Road Train Member

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    50% sound unreal. Be better off getting a loan from Al Capone.
     
  10. Ezrider_48501

    Ezrider_48501 Road Train Member

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    if you have to take out a loan for the down payment you are not in a position to buy a truck. your chances of failure are quite high
     
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  11. TallJoe

    TallJoe Road Train Member

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    Maybe you have nothing to lose then, so go for it. Good for you man. Your enthusiasm is something I wish I had.
     
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