Want to Buy My Own Truck, Need Some Advice
 

I'd like to buy my own truck , become a O/O...don't have the best credit.
But am extremely interested in driving on my own... any advice where to find a dealer, etc. that will work with some one with not the greatest credit. Don't want to do a lease to own deal.
Thanks 8)

How much money are you willing to put up front, what are you looking at, how far of a drive( 48 states)?

Best option is to take out truckpaper and call everyone on there that you like and explain your situation.I have a friend that was in the same situation and he did what i mentioned above after trying everything else. Having a bad credit means higher interest IF you can get a loan so if you cannot put something up front it may be a bad decision for you untill you can. Working capital is another issue as i believe you should have at least 10K when you start out, i did have friends who started with nothing to having 2 trucks now but thats just me !

I'm pretty sure I've seen places that work with people who have less than perfect credit. The truck you buy may be ok for a while without repairs but just fuel alone for 5 or 6 weeks until you get your first check is going to run you at least $6,000.

I pretty much went out and bought a truck and trailer and started running. I was VERY lucky that I had no problems at all. I pissed through $10,000 dollars until my first check came in though. Just keep that in mind.

I don't have any idea of your experience, but with a few years experience and decent credit you should not have a lot of difficulty finding financing. Truckpaper is a good place to start looking. Some of the bad credit dealers advertise in the paper. You will probably need $5-10M for a down payment. They will get most of what they have in the truck as a down payment. There are some dealers who will finance people who live near their dealership or in the state. I know a couple of dealers another owner operator mentioned to me. You will usually need 20-30% down to buy a truck from most dealers.

It would probably be in your best interest to work on getting your credit in shape and save some money. It is difficult to finance a truck without fairly decent credit.

First thing I would do is get a copy of your credit report. Then you can see what you are up against.

Yes Truck Paper is full of ads for less than perfect credit financing, but it may be spendy though.

Want to buy own truck, need advice
 

Well I have 3+ years experience, have found a used cabover ( my uncle had one for years, kind of nostalgic) with 100k on rebuild, $6000...in really good condition.. thinking about going for it. I can probably hook up with a local container hauler, or another co. that hauls to supermarket warehouses. Would like occasional OTR though.

go for the cabover kid.. 90 % of drivers dont like them. whitch means they are cheaper to buy. i bought my 1st truck over 7 years ago. it was & is a 95 intl cabover. (an ole walmart truck) bought with 412,000 ni on it. it has 1.1 mil on it now & i have not had any major work done to it. all same motor componets, all original injectors e.t.c. same factory trans rear end e.t.c. it still has factory clutch in it. i have no idea what holdong it up. but i gave 15,250 cash for it in 99' & have grossed over 83,000 every year.... good luck my friend

Want to Buy My Own Truck, Need Some Advice
 

Thanks Heavyhauler,
I gonna try and get it... hopefully I'll get some one to finance it for me..Looks good, even have a friend who can do a little paint work for me 8)

Now a days the banks will finance anyone if you can sign your name, thats why the majority of the US is in debt. Whatever you do dont finance through a "what can I do to get you in this truck" dealer. Try your local bank or credit union. Good luck

er.....this is how it works
You find a good company to lease on with that pays a lot of money and needs owner operators,
Determine how much truck you really need to make money at this co.
You might ask this company who needs o/o's and pays really well if they do busness with any local dealers?
Then you take your lease in hand and show it to the dealer and hope you can deal.
The absolute dumbest thing an o/o can do is buy a truck without a good paying job lined up.