Truck Capital llc-NoCreditck.com

They are a joke and a bunch of loan sharks! They do not report to credit. They will try to repo the truck with 1 or 2 weeks behind. They require weekly payments. No grace period with a $100 late fee for being 1-day late. If you require any repairs within the first 30 days, they keep your truck for days on end with no work for you. They have no negotiations and no refunds. They will tell you that the Finance Company is NOT affiliated with them when they are directly affiliated with them and they even have lunch with the people daily. This is a RENTAL contract and not a purchase. They require that you RENT the trucks at crazy weekly costs for 12 months and then go out after that and find your own financing for their price of the truck.....What a joke- that is why you went to them. Do not trade your truck in or give them money. Within weeks you will be walking!.

 

Although I have NOT used them, I have heard about them and definitely AGREE!

PACCAR Does NOT report either. When I bought my truck I financed it and paid it off and asked them if they report GOOD (meaning me paying on time every time) and they said no, but they would give reference and they DO report BAD credit.

 

Likely because it costs money to report good and bad. They report the bad so neither them or their buddies get burnt and don't report the good to save money.

Source: My wife, the banker....

 

I purchased at truck at No Credit Check what a bad mistake. Up front they will not tell you the price. Then you have to use their insurance pay all taxes up front.I stayed there 4 days before the truck was ready for pickup at my expense. When I tryed to get tag what a joke, they will not let you have a title because its a rental. I had to registar it in Miss. 2400.00 and it took 1.5 weeks to get it.Then first trip out it broke down.I had the truck for 8 weeks and used the truck for only 2 weeks the other time it was broke down, it was finally towed back and I lost alot of money. SO BEWARE

 

Believe what you hear. We are living the "nightmare" as we speak. I don't know what to do to get out, except to give them back their truck and lose everything. Bought (or should I say rented) a 2007 Pete from them on April 29, 2011. VERY expensive - saw guys there that had waited for days for their truck. We were lucky to get out in one day. Costs us $3000 a month from them. $520 rental, $25 crime coverage (?), $55 insurance. Mandatory to use their ins. and whatever crime coverage is (something about other people not obeying their rules). Then need to register in MS at another $175 per week for 12 weeks plus $299 down and pay 2290 up front 60 days in advance. $75 service charge on EVERYTHING, late fees up the rear everytime you turn around. I even tried to talk to the manager and he (Ralph Cox) won't return my calls. They act like they are two separate companies but they all sit next to each other in one crappy little building. Most of the trucks they advertise are not even on the lot!!! I am so disgusted and sick over this and they don't even care -- PAY UP OR ELSE WERE GONNA REPO YOUR TRUCK -- is all we get from our "Account Rep" Jeanette.

 

Sounds like you're already falling behind on the payments. You and your husband need to get an unbiased review of your business plan right now to figure out if you even have a chance of keeping up the rental payments to the end of the term. Surely you have a family member or friends, or even people in your church who have the know-how to give you some direction and advice. Now is not the time to be proud. Get that 3rd party advice and believe it. If it's time to cut your losses, you ought to get legal advice and quickly. You'll have to decide if it's better to go broke sitting at home right now, or stay out on the road just one tank of fuel or one blown tire ahead of the repo man.

I'm sorry to hear these stories and trying to keep this post positive. Generally good people that go after a bad deal that's too good to be true. Bad enough the streets are lined with title loan shops, payday loans, and whatnot. Even worse, a commercial deal avoids a lot of protections many states have in place for personal business arrangements. By the way, this group of companies also includes United Truck Group, LLC. At least that is the arm that shows up first on a Google search of the other names.

Back in the late 80's I worked for an "upscale" buy-here-pay-here car lot. Upscale in that they were doing a similar deal as this truck company is. Their deal was actually legit though. Very expensive and not the best deal on the street, but for someone with lots of money and no patience, they would put you in a late model luxury car with a 6 month lease and guaranteed financing at the end via their sister-company that wrote the actual loans.

There were two big hooks that should serve as big red flags if you ever see these:

1. The "down payment." On these deals, the salesman says "down payment" and the contract says "capital cost reduction." If you don't know what that means, don't believe the salesman. Look it up and don't sign anything or pay money until you know what that "not actually a down payment" really means. On a legit lease, cap cost reduction is a way to pre-pay the total on a lease to reduce the monthly lease payments. In other words, you're paying now for a discount on the monthly amounts. On these types of leases, it's a big hook designed to get you to keep throwing good money after bad. Most sensible people will go to great lengths to avoid losing their investment. The more money there is to lose, the more desperately they will try to string along the bad deal. On a Google search I found another similar story with this particular company where the "down payment" was in the contract as a "first purchase option security deposit." I have a GD college degree in business and had to read that 5 times and still couldn't tell you what it exactly means. At best it might mean you get that credited toward the inflated list price if you can afford to buy the truck at the end of the lease. At worst, it could mean you just paid that money to have first crack at buying the leased truck at the end before anyone else does. WTF! and they probably have new people in the door every day to hand over $1,000's of their hard earned cash for this!

2. Fast paced, high pressure paperwork. They DON'T want you to read and understand what you are signing. Simple as that. The friendly salesman and his management team will explain everything in real simple terms that most people understand like "down payment" and "weekly payment." Thing is, that is NOT what's in writing. They're not going to point out the risks and pitfalls with their deal. Only the upside. In the worst cases (maybe these guys did it), they out and out lie about the terms and conditions verbally. Anything they say is only as good as the paper it's written on. The car lot I worked for depended on this pressure close. They actually had the guarantee of post-lease financing written into the lease deal. What they didn't point out, and frankly weren't obligated to, was that the lease and the future financing were separate agreements. And that an actual "down payment" would be required on financing. Wow! Another "down payment" - who would see that coming while staring out the plate glass at the BMW or Mercedes pulled up out front? Well.. it was in there in writing if anyone bothered to read it all.

If you don't understand every word of what you are signing, get someone smarter to sit in with you. No shame in admitting you're not a legal or finance expert. Bring one with you. Pay someone if you have to. A couple hundred dollars could save you thousands. Lawyers and truck dealers all have fax machines. If the dealer won't let you share to get advice, walk.

If you need some time to consider the deal, read the contract, or even scratch your butt a minute, take it. Regardless of what the sales staff tells you, that is not the Last Truck on Earth and if they sell it to the other guy waiting in the lobby, let them. And no, they are not the Last Truck Dealer That Will Ever Put You In A Truck.

Even if you are a total deadbeat, there is a better deal somewhere else. Don't be lazy and don't give up.

If the deal stinks, walk away. Don't be afraid to take your money and run if you even think it's a bad deal. Don't feel trapped or obligated because you already took time and money to travel there and sit with them. That's a hook that's set before they even get that "down payment" out of you.

 

"They will try to repo the truck with 1 or 2 weeks behind."

Regardless of whether these folks are loan sharks, why do people get mad because THEY breach the contract and expect them NOT to repo the property?

If I financed you and you didn't pay me for a week or two, we'd be done. Grace period? It's a CONTRACT. You SIGNED it. It's LEGAL. And I'm sure you saw the numbers before signing, and if you didn't, that's your fault.

Companies like this overcharge people with bad credit. They do that because they're taking a huge risk to finance you (as evidenced by people who are surprised that the truck gets popped if you don't pay). If you had good credit, you could buy a truck from anyone and name your terms. If you don't, you either put up with deals like this, or drive for someone else.

 

Living on credit is the worst kind of indentured servitude. (Slavery).