If not a lease then what?
 

How do you suggest getting in your own rig while avoiding the flease down falls? I am lost. Is it possible to walk into a KW dealer and get financed or what? Any help or direction to previous post would be great thax mc

That's the way I do it (as well as everyone that I know personally). Actually, up until I got stupid and bought this '07, I've paid cash for the last 2.

Find a good salesman that wants to work for you and they can do wonders in the financing department. If your credit is iffy, expect a higher interest rate and a larger down payment. You're still better off NOT being tied to a company.

I don't know what a normal down payment is, someone else might be able to help with that.

dont get offended but from reading some of your posts its pretty clear your not ready to be an O/O


theres much research ahead young grasshopper, how much experience do you have anyways?

2.5 yrs but with questions come answers. How else does one pursue intrests other than ask? Granted I am still a green horn but don't let my quite bizzare posts completly define me. I am not here to impress a soul and I am trying to get some different perspective on things. Btw its damn hard posting fully articulated post on a black berry. THX mc

Financing
 

Leases are Leases (not meant to be owned). 90% of the time that's the way it is when leased on to a company. I haven't met a driver that has yet to aquire his equipment through a lease on program. I deal with a network of drivers on a daily basis and all will tell you hell stories about leasing. Buying with iffy credit is just as bad, with $2000-$3000/mnth for a big old hunk of junk truck. Simply bad economics, my advice is to get your ducks in a row, finances, credit, organization and do it right. You will save yourself many headaches in the future.

Re: Financing
 

X2

There are several ways in which to buy a truck. The best way is to save your money until you can pay cash. With most people, that isn't an option they want to consider. The second best way is to save a good down payment and finance it through your bank. Dealers can usually find some sort of financing for you but when you let someone else control the financing you will pay a higher interest rate and may not get the terms you want. There are lenders who cater to the owner operator. The third way is to lease to purchase through a leasing company. You will pay a higher interest rate than through your own sources. The final and least desirable is to go to work for a company who will rent you one of their trucks. I have only met 2 people who have completed one of those leases.

The reason that I didn't mention the local bank is that I (possibly wrongly) assumed that the OP would not be considering any LP if they had a good relationship with their banker.

truck financing
 

I JUST went through the ENTIRE process on buying a truck..there are 2 things you need to get the truck: Personal credit score over 650 (for good int. rate) and trucking experience (so you don't lose your A** operating it)

Most finance companies won't look at you with under 2 yrs otr exp and a nice down payment of 15% of the truck's price. On a $137,000 tractor, expect to plunk down close to $21,000 dollars

I'm sure someone on here will post a reply..."well I got mine for 5 grand down and 1500 a month".......everyone will have different results based on INDIVIDUAL credit scores and truck experience......just my .02

If you want to buy a truck out right, expect a down payment from 10-30%, depending on credit and experience. I spoke with a representative from one of the major class I lenders about 2 or 3 years ago. I believe it was Paccar's financial group. I was told they would not look at a driver without a credit score of at least 650. Previous successful truck buying experience is also a plus.