How To Buy Your First Semi Truck With No Experience Bad Credit No Money Down FAQ's Answered

[@MuthaTrucker]

For information about financing your first semi truck or trailer? I have videos that will help you get the information you need! Click⬇️ www.thefundingbooth.com/muthatrucker

[@truckerwellnesssusa]

Alex man... I just came here to say thank you very much for what you're doing. I didn't want to be one of those people who just absorbed all this precious info and didn't write to give you props. I just got my LLC, took your advice for the phone number and email, but still running for my friend and his company. However, I do plan on getting my own truck as soon as I save up enough money. I have you written down as my first option as far as getting a truck just because I appreciate your honesty and your help. This is an awesome way to run a business. Give Truckers what THEY need and in turn, I'm sure most of us will give you want YOU desire. Thanks my man. ✌🏾& ♥️

[@luisrobertosilva7461]

Congratulations as an immigrant From brazil i can work and take cdl being in América i can buy amediun financed truk

[@69jdwalt]

790 credit score, 7 years cdl, but pay check to pay check, basically nothing to put down. should I borrow, or use credit cards?

[@jorgeguardia1214]

My credit is not to good around 580 and I just need a truck to start on the road I have 8 years of experience

[@jorgeguardia1214]

Looking for a 55,000 dólar truck

[@TruckingPerfected2]

That's what happened to me last March. The dealers said they would do soft pulls but did not. I ended up with 6 pulls, 6 approvals but no truck. No dealer would even speak with me until i completed the credit app. I did my research and buying a 2016 truck that shakes and has crazy rust for $50k plus back then just wasn't going to happen. My credit score dropped 37 points (Better now), knocked me down to 715. I haven't ran it since but I'm ready again to get at least a 2018 tractor.

[@CL52190]

Bob is a stand up guy, best of the best. I would recommend him in any scenario. You are in good hands!

[@MuthaTrucker]

😊😇

[@phillipwiresinger1164]

Bob i want to get me trailer refer or flat bed or van

[@phillipwiresinger1164]

I want to talk to bob my note 500 week beside other expes ok@@MuthaTrucker

[@phillipwiresinger1164]

I need e mail or fax number her my e mail [e-mail]

[@phillipwiresinger1164]

Email gmail.com

[@edmundsenterprises9786]

Alex I think it would be helpful to do a video about the fee's that go along with with registering a truck and making it legal... I don't think most folks realize the cost of putting one of these on the road for buisiness.. For example in my state: Registration approx $1000 yr for 75,000 - 80,000lb IFTA/IRP approx $280 MC#'s approx $300 DOT# is free for now.. Buisiness registration approx $100 MINIMUM, buisiness license another $100 minimum And then you have to insure and bond it............. The little guys literally have the cards stacked against them from step one. (Forgive me if you've already done a video on this.)

[@Enzo87325]

Thanks for adding the info ...I’ve been looking to get a truck and start running for amazon.I also learned that they won’t bring u in tell after the trucks been insured for at least a Month.

[@Enzo87325]

@@eclass_1 yeah I posted that awhile back I’ve heard nothing but bad things about amazon.

[@MTS52]

You guys answered every question I 've had for weeks. Thanks for your time and sincerity. Real and high quality content.

[@TheFlatbedChick]

Unfortunately it’s much easier to get a trailer financed than a truck, but you really need a truck first!

[@jamesharris3109]

Thank you brotha, for all you do for us muthatrucker's out here trying to make it happen..I appreciate you man 4 real!!!👍🏾

[@texasslaboutdoors2270]

Bro getting into trucking your videos are really helpful,thanks for putting in work !

[@ronnieterry9275]

Don't buy a used truck from one of the used truck dealers that buys the trucks at auctions and re sells the truck for thousands more after moving the truck to their yard. They usually double the price they paid at the auction. Do your research go to auctions first and then observe. You will be proud that you did.

[@daniellerainford9970]

So we should purchase from an auction?

[@ronnieterry9275]

@@daniellerainford9970 purchase from an individual if it's a good truck, or an auction. Any purchase needs to be very carefully checked out from top to bottom. Looking for evidence of being in a wreck and of course evidence of engine regularly serviced , check to see if clutch brake is worn out. Jack each side of the front (steer axle) off the ground see if any slack exist in the king pin bushings. Most important don't buy from a used truck dealer most of their trucks come from an auction yard and they typically mark up the price of the truck. If they pay fifteen thousand at auction they mark up the price to around forty five thousand. But most important with any used truck purchase look it over very carefully. Look at everything I would also look at the fly by tube with truck running and see how much discharge is coming from the tube.

[@supertroll8936]

Whats so wrong with that?

[@edithstephens4660]

You sound crazy 🤪 when there's auctions that dealers can only attend !

[@GETOUTOFAMERICACONSPIRACY]

@@edithstephens4660smh

[@gerardofernandez6998]

Great stuff..alex..love your videos brotha...I have 6 years with my cdl.. good credit...I need to pull the trigger..your videos motivated ..thanks for wat u do

[@anthonywhite9828]

Do you have problem with increasing your credit score and removing your poor credit reports, I've got a good news for you , my credit score was just increased from 470 to 820 and and all my awful credit reports has been cleared,he also hacked into my 3 credit bureaus, let me introduce you to Michael Gibbs, you can contact him through his mail [[e-mail]] and thank me later.

[@Salih.EduBlock]

Thanks man. I’m ready to purchase a truck again. Preferably cash , under 20k but may entertain a 40k truck with financing and keep cash in the bank.

[@richardclost5314]

Hi there Alex: I really enjoy this live show. I really liked when you had James he gave alot of good info .A nd for myself I plan on using this to clear my credit .

[@meyou-qw8fi]

Thank you brother for the effort you put to make your wonderful content ,always on point

[@DanielGarcia-zz9eg]

I never let anyone run my credit. I just show them my credit sorce from my phone . Lets make a deal before you run my credit . Thats how I do it.

[@johntaylor7798]

I am sure that works great🤣🤣😂

[@moctezumaRevenge]

@@johntaylor7798😂

[@edmundsenterprises9786]

I always sign with a crayon too..

[@AMBINHED]

Mai Show thank you so much and also Bob good job big respect. This video can change many people life 👍 Thank you again

[@ChunkyBoyD]

This was awesome and I’m surprised I sat thru to the end. Just sent bob and email about a possible truck/trailer combo finance, hope to hear some good news back. Thank you guys for all the info and examples. Can’t wait to get out on my own.

[@AC-wt5mx]

how did it go for you? im looking to apply soon also

[@ChunkyBoyD]

@@AC-wt5mx never heard back from anyone. I sent the email twice to Bob.

[@victoroloObatala]

Best post cast Class In 2021. Even my friend that can understand inglés got to understand you guys . Clean clean

[@daverichardson4752]

Hi Alex. Learn alot from this video . Thanks been out there for us truck drivers.

[@travelcampingblacksmithing786]

My fiance just said “His name’s Bob Booth because sit down, it’ll be a while,” and my overtired self was literally rolling

[@alexarcila6620]

Thank you for all the info. i dont mind the ads. All the info you provide is priceless

[@RedWhiteandTunes]

Alex, I filled out the application on the link at the description. Jist wanted to make sure it was sent out to you or Bob and that you guys received it. Looking forward to doing business with you guys soon! Thanks!

[@darrylrichardson1997]

Did you ever get approved?

[@eunikellc]

Honest and informative interview. Thank you

[@rome8087]

I filed Bankruptcy and had it discharged in December of 2019 to basically get rid of all my credit card debt. However, I also have a mortgage on my home as well as auto loans on my two vehicles. Those three items don't show on my Credit Report as being paid because they weren't included in the Bankruptcy. They are suppose to show on my Credit Report because I asked my Lawyers to make sure I can keep them and show that I'm paying them. I am in an agreement to pay them as if the Bankruptcy didn't happen. The only difference is that if I wanted to sell them, I'd be able to make a profit on the House, and a loss on one of the vehicles. I'd be responsible on the loss for the one vehicle because the finance company would sue me to get a judgment for the difference because I did agree to not have it as part of the Bankruptcy. I only have 3 years left anyhow on that vehicle. I have 7 new credit cards that amount up to $8,000, in available credit, and I use them sparingly to keep them active, but pay them down to $0 every month. My credit score with Credit Karma is in the mid 700s, and that doesn't even include the payments on my mortgage and the two auto loans. I wish those were included. I currently drive for Lyft as a rideshare driver, and I'm getting my CDL-A by the end of August. The government through W.I.O.A. will be paying for my one-month driver training, and nothing has to be paid back for this free education. I got my Bachelor's in Finance and have been doing the business LLC side called One Stop Diversified Services, LLC. of rideshare for about 5 years now as an Independent Contractor. I'm not going to work for a company ever again unless it's my own. I was wondering, what are my odds of getting Financing for a truck up around 50k to 100k. I understand that cost of Insurance, ans what that could look like. I've actually spoke to an insurance rep. about that. There's many other costs I'm looking at as well. I'm looking to save up 50k myself for working capital. I want to use that for emergencies, etc.

[@callowaytyree3885]

❤ my credit score is 750 and I have 38 years experience. I work regularly as a reefer driver and purchasing my truck from my company. However, it’s a freight shaker. I’d like to purchase a KW and still work for the company I I’m hauling for now. I’m currently paying 850 a week to pay off my semi like to get away from being a lease purchase to a true owner operator.

[@hiramrosajr8231]

600 score 5k down, daycab

[@damondatrucker3679]

Very very great info. You guys are helping me a lot.

[@fromscla5883]

You guys missing something key. Interest rate

[@romerryllfisher6512]

15:30 Banks are stupid. Earning potential is limited with a day cab.

[@albertvasquez6207]

It’s easier to repo a daycab. In a nut shell 🐚

[@adventuresofperseus945]

Would it be dumb if I were to put money down on a truck, not use it, keep working at another company until payments are lower?

[@shabazzrivera6141]

Super super helpful content great channel !!

[@harshendubhardwaj5283]

Priceless information, thank you guys

[@dionclack7604]

I don't know maybe that's how it works down there but in Texas you can get a decent truck without good credit with 10k, down all day long.

[@Jfdas123]

Can you tell me where? I'm trying to get a truck.

[@dailydoseofwtf4088]

Thank you for the info you put out brother. This video just made me look hard at my credit and I got 8 out of 10 negative marks on my report paid off and removed! 💪

[@GETOUTOFAMERICACONSPIRACY]

Bot 🤖

[@nathanielroberts480]

Bad credit. Credit is locked. Can not access it. Veteran. Otr 7 years. Small amount for down. Trying to go o/o

[@robertesposito9871]

Once you buy a truck how much does it cost for the rest of whats needed like permits, DOT#, operating authority, different insurance policies needed ?

[@neilstamper8699]

Even makes some sense at double-speed!

[@danielarroyo121076]

Is guys like you that makes it better for us the people

[@girmabulti2572]

I like you guys you tell the truth

[@jon8223]

Awesome video!

[@mikejerkyy2527]

Hey Alex this company sounds good..I would like there information so I can get my own truck....thanks

[@lgriii]

Thank you I’m learning a lot!🙏🏾🙏🏾🙏🏾

[@kathrynbrock4495]

Do you have problem with increasing your credit score and removing your poor credit reports, I've got a good news for you , my credit score was just increased from 470 to 820 and and all my awful credit reports has been cleared,he also hacked into my 3 credit bureaus, let me introduce you to Michael Gibbs, you can contact him through his mail [[e-mail]] and thank me later.

[@Mrpistolero777]

You could edit this video and make it more condensed.

[@karlmalone2464]

Excited to be shopping around for trucks...It was all a dream. Used to read overdrive magazine. Asian mai and stinky beave up in the limousine.

[@kingdomseeker88]

14:50 Strange that it’s easier to finance a day cab: limited work opportunities. Plus if a long haul run pays well enough, there’s hotels to sleep in. A policy like this speaks to some lenders’ lack of knowledge of the industry. #cashisking

[@livin18wheelin33]

Romerryll I was told not long ago that the reason a day cab is easier to get financed is because 90% of the time day cabs are locally used and would be easier to track down if it went into default. Idk. That's just what I have been told

[@scaleyardmarine]

Very interesting guys thank you

[@travelcampingblacksmithing786]

I turned the playback to 1.5 speed and when you said Bob’s name it sounded like you said “Ababu” and it made me do a double take

[@charlesfeaselman383]

665 credit 27yrs exp. Been with my current employer 19 mos have been an o/o previously about 10 yrs as o/o not a home owner.

[@truckinjackass5635]

Your guest should put phone in "do not disturb" mode. Video and all will work but won't screw up video

[@cristhianmostacero7461]

750 credit score, 30k in the bank and 4 years experience driving for a private company. about 7 years cdl holder. I'm mentally ready to start my own LLC. from the financial part. what you guys think. ?

[@miochan6414]

I hope you have your truck now...

[@torturedsoul8066]

6when he says they will finance a homeowner it is because they will want to use the house as collateral. So not only could u destroy ur credit but also lose your home in the process. No new truck driver should ever do this.

[@hobbs230]

Why do you have to own a house to get approved.? What if you sold your house already?

[@travelcampingblacksmithing786]

Its more the fact that you would have a good standing credit history of paying off a $100k+ loan

[@travelcampingblacksmithing786]

Plus it also gives the truck a “home base” to watch if payments start getting missed

[@enigmacat78]

I am a new subscriber to your site, and I am enjoying the information you've provided. I am 9+ yrs in driving, mostly Flatbed, and just now getting my feet wet here in Baltimore with Container Hauling. I am knowledgeable and looking to run my own company. I however don't want to own a truck just yet. I still have some learning to do, especially with maintenance and maintenance accounts. Would you recommend leasing through a 3rd party company like Ideal Lease or Ryder to put trucks 🚚 on the road 🤔?

[@kathrynbrock4495]

Do you have problem with increasing your credit score and removing your poor credit reports, I've got a good news for you , my credit score was just increased from 470 to 820 and and all my awful credit reports has been cleared,he also hacked into my 3 credit bureaus, let me introduce you to Michael Gibbs, you can contact him through his mail [[e-mail]] and thank me later.

[@sid51011]

What's the oldest year truck can you guys get financed

[@oceanairbrush]

In a more recent video you express the need for good credit and the ability to pay cash for things like insurance up front otherwise you are "not ready". Seems like by sharing and encouraging this type of financing you are setting people up for failure. I realize its just disseminating information on your part but seems like you would add an addendum or psa to caution new would be owner ops against these types if programs.

[@angelvizcarra1127]

I have ok credit but I don't own anything big as in home or car. Will it be hard for me to jump in a truck

[@379boss5]

Do you do refinancing on Simi trucks?

[@shawnsmith7261]

I know this is a yr. Old but you meantion about day cabs being a little easier...how can I get more info about that...thanks if you see this

[@JuanTorres-777]

I went to there website I only seen on truck kenworth w900 ?

[@patrickjames-zc8gi]

Hello, I've had my Class A cdl for 2 years. But I DO NOT have any CLASS A EXPERIENCE. could I still get a truck financed???

[@malcolmhicks6760]

Alex is there someway I can contact you I have a few questions

[@jerseybound9716]

Can you suggest any compaies to purchase from?

[@stevendomina4002]

Can you help with the loan on a rebuild engine for a truck

[@Deleteguest]

You might want to try CAG Truck Capital for that. They only finance long hoods (w9s, 359/379/389, 4900, etc) but I THINK they do overhaul and rebuild financing for most if not all types of trucks.

[@eunikellc]

Do you process financing for first time customers out of your State?

[@johnirwin1137]

15 yrs experience , credit score 680 , FICO 670 , 81 months on time payments . Paying off $ 18,000 this year to put myself in better credit score rating .

[@putergeeket]

Who does the funding booth report to? Which agencies. And do they report both good and bad?

[@SD-ig3ix]

As a Muslim truck driver who can not deal with banks, interest etc... I'd love to get some feedbacks on Muslim truck drivers who became owner/operator on how they did it. Love your channel Alex !

[@j.gardner4811]

Are Muslims not allowed to work with banks or borrow money?

[@SD-ig3ix]

@@j.gardner4811 No, because it includes interest "riba" In Arabic. But Il think you can buy a truck with zero down.

[@j.gardner4811]

@@SD-ig3ix I had no idea. That’s interesting!

[@Enzo87325]

Another great video

[@maryheltke1409]

Hey I have a question. I've been with a trucking company buying my truck through lease purchase and I want to know who does a lease buyout

[@markohughes918]

I have bad credit 565 score on all 3 .. I own my day cab paid 28.500 I do containers been licensed close to 3 years w cdl. I'm looking to put some money down on another truck but I have this 565 credit issue

[@jaywavy5734]

Yoo I pull containers too. In NJ my credit score 680 where can I finance a good daycab?

[@J__7777]

Is that considered "power only" and how many miles and revenue you generate a week or month? I'm thinking of buy a box truck or semi.

[@kevinroutin7612]

I'm Kevin Routin have 2003step deck would like to trade it on newer trailer can you help let me know

[@omarsmith7011]

I'm joining at this time but now, no longer live. with the calculations during the live portion, what was the average interest rate used for the monthly payments that were advertised?

[@hdidane00]

Are we talking business credit or personal credit here? that's the most important question to ask.

[@MuthaTrucker]

Personal credit

[@hdidane00]

@@MuthaTrucker even if you are registering the truck in your business name which is the recommended thing to do ?

[@MuthaTrucker]

Using business credit is always better because you are not putting your personal assets on the line. But business credit takes time to build.

[@anthonywhite9828]

@@hdidane00 Do you have problem with increasing your credit score and removing your poor credit reports, I've got a good news for you , my credit score was just increased from 470 to 820 and and all my awful credit reports has been cleared,he also hacked into my 3 credit bureaus, let me introduce you to Michael Gibbs, you can contact him through his mail [[e-mail]] and thank me later.

[@willievalentine9463]

@@anthonywhite9828 how long did that process take and how much did it cost?

[@ThisTruckingLife]

They keep saying CDL experience as a requirement so is that just I can be a company driver home daily or is it purely 3 years OTR?

[@raymondpinney6566]

30 yrs cdl and 450 credit score can u help

[@carlosp.5979]

I never Buy a Truck or any car Before. (New). So what I do. I have just Fair credit

[@godson983]

How much is good starting point for cash collateral in bank?

[@thomasgarner6369]

Bob man I'm buying a 1998 FLD For 40,000 In a lease purchase deal and monthly payments are going to be 900 a month can you offer anything better?????

[@omarsmith7011]

what is the average interest rate for purchasing a new semi truck?

[@josephbellard1702]

Bob I've been driving trucks for 40 years and I'm trying to find 216 Model Truck at 75,000 I'm a homeowner and I've bought several trucks in the past so how much I need down and how many months can I get this truck financed for oh and by the way my credit screen a 5:50 and a six

[@josephbellard1702]

Bob is 75,000 is a good price for $216 truck is about a 550 plus I am a home owner I've been Trucking for 40 years but it's coronavirus made my credit

[@motofreak9]

I hate the home owner requirement, why would I own a home if I live on the road??

[@MuthaTrucker]

Facts, but banks feel that a potential client that pays their mortgage on time will pay their truck on time. Stupid rule to me too. But it is, what it is.

[@fromscla5883]

Owning a home means you had to have good credit to get the home. Ergo says your good with handling money and debt. NO SHIT YOU CAN RENT THE HOME WHEN FINANCING HOME. Moto guy you ain't cut for truck ownership if you can't use simple logic.

[@fromscla5883]

@Robert Nixon you must have 600 under. Thats all that needs to be said. Bye Felicia:) 😃

[@richardclost5314]

Hi there my name is Richard Clost : From Canada.

[@_Tobbs]

Do you also help with hotshot truck or trailer purchase?

[@MuthaTrucker]

Yes he does!!!!

[@davesmith6337]

What do u mean by homeowner,, is it paid off home u talking about or the one with mortgage payments every month

[@robertwynn405]

This company doesn't even call back, they send an email with an expected down payment percentage. That blows out the entire we work with tou and look at the person nonsense

[@beer3095]

He really should of been saying mortgage not home owner. Some of us actually own our home.

[@shayronethompson7984]

Bro they not what they say is, cs I got credit and I was coming to the table with 40% down i could do 50% and they still wanted me to get a co signer arrow truck sales only wanted 20 percent

[@sonzofman4224]

They want their interest man .. on 28k truck I told them I can do 15k down .. they hit me with 1400 a month for 24 months ..that’s $33,600 plus the 15k I put down not including taxes, tags etc ..I said the hell with it ..and bought a truck all cash for 10k solid truck, might have to some $$$ but still beats what these bandits have to offer

[@ToLife_]

Are you guys talking about the fundingbooth just so I know the deal??

[@sonzofman4224]

I’m referring to the lenders/banks. I could have gone the lease/purchase route ( not leasing on carrier ) Co like Excelarate, OTR Leasing, Bulldog you can put down $2500 to $5000 with weekly payments $300 to $800 but it’s even worse you wind up paying double or more of truck value. But reviews kept me away. They use 3rd party warranty, nothing will be covered despite what they tell you. And when do cover a repair it’s only going to be 10% to 20%. And too many similar stories of trucks breaking down shortly after purchase, in some cases days. But your stuck with truck.

[@shayronethompson7984]

@@ToLife_ I wouldn't recommend them at all

[@raphaelholley4074]

How can I start to get my first truck with booth helping

[@abelachhab2638]

Hi what’s the deductible for extended warranty ?

[@lifewithoutboundaries4304]

What do you think about 14500 down 2695 for 60 months no balloon no buy out. After the last payment you own the truck. Lease.

[@joshpaul5067]

Can a deleted truck pass inspection? If not, is it expensive to get it right?

[@Ink30]

It'll pass

[@craigmiller111]

I'm in a lease purchase right now. I'm in a 14 389 paying 80,000 with a $1,663,84 monthly payment with $1,000 buyout at the end

[@larrybrown7273]

Trust no one save some for your homework on the truck you this coming from a non truck but who has Family'Friends in Truckin over #30yrs

[@Carolina_Boy_93]

Those lease almost never work. Very few people make it to the end. And it's not the driver's fault. It's the way the companies have the lease setup. They know most driver's won't make it to the end. Especially if you have a family and other material things at home. They buy the fancy rigs, knowing younger driver's will flock to them and do whatever/pay whatever to say they're a glorified company driver. But save your money a long the way. In case the company starts messing with you. You'll be able to just go out and purchase your own truck.

[@phillipwiresinger1164]

I looking to buy trailer i.m leasa my truck now i got2yr left on my truck it 2015 freightline i want to buy ref or flat bed trailer

[@phillipwiresinger1164]

My creadit it not good at all ok i know that for fax

[@gloriajones1548]

I been a truck driver for 6 years and I would like to buy my own truck

[@hardstoner8095]

Dealerships is scam and bankruptcy then dealerships build itself bankruptcy and Repo the all the dealerships.

[@johnguillory2312]

What if you have open credit card accounts what would could hurt your chances of financing

[@michaelbehrle9458]

HI BOB THIS IS MICHAEL BEHRLE I WANT TO BY TWO OVER THE ROAD TRUCKS AND TRAILERS AND NEED HELP

[@MuthaTrucker]

Hi brother!!! Fill out our app. It's a soft pull. form.jotform.com/202391334057147

[@shahnawazalikhan6335]

i dunno where to buy a used truck from, I am looking to buy a freightliner dd15 dt12 2013 or abovw..... should I buy swift or penske fleet trucks or what?

[@garyrollins5487]

I got a 720 credit score own home and got 3 years flatbed experience could i get a older truck financed talking 2002 are earlier model no def fuel

[@victoroloObatala]

Thanks