Hey looking for a o/o retiring that would be interested in selling there rig and financing it.Trying to get started have work need truck.FRUSTRATING LOL

 

Start out with an older truck that you can pay cash for. Still alot of usable tractors out there in the $5000 range. Get a few years out of it then upgrade. That is how I did it and is working well so far.

 

There are other problems to be aware of.

Who will be registered owner?
If the seller goes as lienholder you have no guarantees they will release the lien after it's paid off.

Is there an under lying lien on the truck?
If so, you have no guarantees the seller will continue to make the under lying payment.

Does the seller have government liens of any kind?
Depending on the lien the government can't take the truck even if he sold it to you.

Being in the truck financing business for almost 20 years we have seen all this happen and more. Be careful.