Don't Get SCAMMED In the Trucking Industry | Financing Your Semi Truck- Good Vs Bad Credit

[@oshomaenigwana4527]

I just used your Guys. They gave me 8.8% am first-time buyer Thanks Ronen

[@NorthAmerican-Trucking-News]

Hi Thanks for the feedback, are u able to send me more information about your experience with the finance company.

[@malyshevvasiliy9541]

Good deal, congrats!

[@oshomaenigwana4527]

@@NorthAmerican-Trucking-News Yes, I am able but do you want it here or privately

[@NorthAmerican-Trucking-News]

Privately please [e-mail]

[@oshomaenigwana4527]

@@NorthAmerican-Trucking-News ok

[@omehenwanneka8953]

Hey there Ronen, where have you been? I missed you...the sound of your voice is refreshing, motivating and encouraging...Thank you

[@Chris.christiansen.84]

Hey Ronen we just bought our first truck. Thanks for all the videos they've helped us out a lot. They've helped us decide if it's the right move for us. They've helped us prepare for company formation, dot stuff, and soo much more. I wished you guys would expand your vlogs into other areas of trucking. We're staying home, and local. We're going to be doing tankers, and aggregates. There's not much info out there. It'd be nice to follow some new owner operators, some new guys running their own authority, some drivers in other areas of trucking.

[@fozman845]

My advice don't use this card. Goto RTS want the number

[@michaelwright1602]

Save your pennies, buy an older well maintained emission free truck, they are out there. Don't pay more than $20,000, so if you do have to finance any monies the payment will not break your back. Lease the truck on to a regional carrier, stay close to home and learn how to work on and maintain your own truck. If you rely upon a mechanic or warranty, you will be bankrupt in short order. Fix the truck as you go, with no emissions and what not, the truck should give you good up time and keep you solvent. Stay away from the emission trucks unless you know how to wrench and have the proper diagnostic tools on hand to properly diagnose. Good luck!

[@clarencestanley5988]

I'm a driver, NOT a Mechanic??

[@michaelwright1602]

@@clarencestanley5988 Great attitude, you won't last long out here, and you will make many a shop richer and happier! I have been burned by these shops, twice, last shop visit cost me $40,000 in a botched in frame, Cummins shop, I wound up repairing that mistake myself. Most shops are getting close to $200 an hour for labor, and the majority of them can not fix spit. Good luck.

[@clarencestanley5988]

I hv bn out here MANY a years...been Crispy Burnt..in the Thousands...so Don t tell me I won't last!!! I'm still out here making it. It's jus part of the job. Bless u

[@Dingbobber]

Prime Boomer advice. Just put down the avocado Volvo and pull yourself up by the bootstraps 👍

[@Dingbobber]

@@clarencestanley5988 Don’t listen to his advice. This what every Day Cab driver who thinks running a business should be fun or they won’t do it.

[@kentr2424]

Good advice Ronan - it works for buying cars, pickups, motorcycles, trucks, just about anything that has wheels....

[@demond1818]

I was just thinking ..... "So basically I should buy a truck the same way I buy a car."

[@dylanstraub9612]

You guys make the best content on the subject of the trucking business. Thanks for the effort you put into educating people who really need this information.

[@NorthAmerican-Trucking-News]

We’re glad we can help! Thanks for supporting our channel!

[@thumblister]

This is invaluable advice. You guys have a great KZbin channel!

[@NorthAmerican-Trucking-News]

Glad you think so! Thank you!

[@TravisKinley]

Solid advice! Sadly, financial literacy is often missing in an industry that causes many to become so profitable!

[@KevinG1994]

This is one of the realest and most helpful trucking channel out there currently.

[@TheAlchemistDavid]

Solid advice. I was a car salesman in a previous career and it’s the same. You’re right on every point. I think I like the advice to buy from an operating fleet. This makes much more sense.

[@NorthAmerican-Trucking-News]

Glad you enjoyed the video!

[@Zorro-by7gi]

Ronen, thank you so much brother you really doing I would say best job for all truck drivers who wants to purchase trucks for helping them a lot. Thank you so much God bless you brother.

[@icarys]

I'm looking at TransAm and found out they own the truck leasing company (one leasing). I have noticed some of the very things you talked about. A just in time video. Thanks!

[@NorthAmerican-Trucking-News]

Thank you Icarys! Stay tuned for more!

[@danieldehay5198]

Thanks man. The only disagreement I have is about the buying the fleet truck…..because most companies I have worked for do the absolute bare minimum maintenance on these trucks. They do barely enough to keep the warranty up…..which in turn makes for a terrible situation for the guy buying it later…..but this video holds invaluable information! Thanks a lot

[@NorthAmerican-Trucking-News]

Good point, appreciate the feedback, if possible, please share.

[@williampeters6004]

Refreshing honesty. Almost NEVER found. Love the videos my friend. Do you do any or how much in the states? Massachusetts here...

[@NorthAmerican-Trucking-News]

im glad you are enjoying the videos. we service Cross border, mid west usa and south east usa.

[@Emma-yj6bq]

It like I sat down with my brother and he explained to me like family what to do... thank you.. family.

[@byronorellana6886]

Thanks for what you do Ronen. Im starting a new career in trucking and my goal is to have my own business within the next 5 years. Thanks alot for the informative videos.

[@NorthAmerican-Trucking-News]

No problem Keep watching the videos Lots of good stuff coming

[@ronjordan2831]

So are ten million other people Byron. Welcome to the over saturated jungle. Ten million and counting. Open those borders.

[@herveking2245]

Hey Great info. Truckloancentre is not a company that you should affiliate yourself with. You do great work but that company should be stayed away from.

[@frankswain9483]

Why would that be, Herve?

[@stephenhernandez4403]

Great video thank you so much truck driver from Southern California🚛. 🚛

[@carlosvital5805]

This video is really good just on time I am looking to finance a truck now I know that I need to get different finance companies THANKS THANKS

[@NorthAmerican-Trucking-News]

Thank you for watching!

[@carlosvital5805]

Yessir or yes ma'am I always watching any new videos tht comes up I am on the 20% of subscribed people

[@yeyo6335]

This is probably a dumb question but when you say financ company do you mean banks? Thanks.

[@hootenhooten5986]

If you keep your maintenance up on your truck,before anything happens.you will be good.get a tune up, oil change, A service, B service when you are supposed to and you will be fine.thats what big trucking companies do.everytime you come into the yard, they are doing one of those to the truck.

[@kbrad1267]

I've worked for a fleet for over 12 years and you got to be crazy to go in and buy a fleet truck they stretch the oil changes out to 50 to 70,000 MI which is just crazy and a truck with 500 k miles are wore out and will need a over haul before you ever get a 3 year note paid off

[@NorthAmerican-Trucking-News]

Thanks for sharing

[@seanshapoori]

Hi Ronen, As usual, your video was very informative and helpful , Thank ypu so much. Keep on keeping on.

[@NorthAmerican-Trucking-News]

Thanks, will do! , please share our content if possible. I appreciate the positive feedback.

[@graliceresources9395]

This is a great video. You just spoke to me directly, I just subscribed and liked this video. Thank you for the great and good video. A friend of mine got a used truck, runs smoothly without load , so it’s seems good without a loaded trailer during the test drive. But the first load of about 42k pounds we hooked on it. All the checked engine lights came up like a Christmas light. And the truck retard to a max speed of 55MPH. We have been to the dealership for repairs three times, each time the truck goes up the hill with heavy load same light would come up again So so sad experience with the truck

[@NorthAmerican-Trucking-News]

Thank u for sharing I’m sure it wasn’t easy

[@andrewbarnett4621]

Well said Sir. Ronen. 👏🏼👏🏼👏🏼👏🏼👏🏼

[@irfantariq5437]

Hey Ronen, I got scammed by a company who gave me a truck on lease to own basis.. I took over the truck I was driving, went on vacation as driver in January and came back to take over as lease owner in March. He handed me over the truck at night time when my trip was assigned and I didnt get a chance to take it to mechanic for Inspection but since I was driving it before I didnt worry too much about it having any major issue. Little did I know that while I was on vacation the same truck had broken then and when I took it in two weeks later (after taking over as owner) I realized the the head of the engine was cracked and he simply put epoxy and did a temp fix before handing it to me. I figured this happened while I was away and decided to return the truck upon this discovery. But now he turned around and took my $21,000 of deposit, driver and owner opp pay that was on hold and claimed the $24000 to fix the issues he claimed I caused in 2 weeks of driving even tho they were pre existing. I have lost all my savings and been stressed.as he is rich and can afford lawyers to fight me while he has drained me of any money I had while making me wait 2 months sitting at home for resolution. I made a mistake of not doing proper inspection when taking over and now based on agreement its basically my word against his and even tho his employees and mechanics are aware he scammed me, not sure if they will witness against him risking their jobs. What do you recommend I do and do you know a good lawyer who can assist and guide me? Thank you in advance !

[@BM-if9zn]

Great advice. United and being informed are the two key words, it relates to everything going on these days. Thanks for sharing!

[@TheBolt62]

Very good points

[@NorthAmerican-Trucking-News]

Thanks Scott! Stay tuned for more!

[@DanielGarcia-zz9eg]

I bet if rates were not so high, driver can keep the rig. Let's drop to 2% or 0%

[@Jason000111mmw]

I have thought about buying a truck however I just don’t see the numbers adding up anymore. I could be wrong but I believe trucking is the only industry where it’s acceptable to spend more money than you’re making. Example the truck makes $300,000 per year after expenses maintenance etc. set money aside for the business and taxes You would be lucky to have $100,000 left. So you spent $200,000 to make 100,000. Doesn’t make sense to me unless you’re going to be a fleet owner.

[@pedromatias9437]

Amazing content! Thank you Ronan

[@NorthAmerican-Trucking-News]

My pleasure!

[@lngleg]

Thank you for posting this video!

[@NorthAmerican-Trucking-News]

No problem! Thank you for watching!

[@jmacd8817]

Do truck loan companies include early payoff penalties? I know many home loans and car loans used to, but they were outlawed, at least in Cali.

[@ctiops4151]

Commercial equipment loans mostly all have early pay off fees

[@rjgrimshaw]

@@ctiops4151 that is incorrect.

[@tonysuri5450]

Ronan, best advice ever.

[@michaelashcraft8569]

Why I NEVER bought, or, leased a Truck in 35 years as a OTR Trucker! Saw many a Man broken by expenses, new Truck or Used, DO NOT get caught up in company Leases, it is a trap!!

[@malyshevvasiliy9541]

Hey Ronen! Another great video. BTW I'm learning English and gotta say I really like your way of narration and your pronunciation. So, double thanks 🙂

[@NorthAmerican-Trucking-News]

Awesome! Thank you!

[@damianrodriguez5907]

As a first time buyer buying a truck I was getting a 20% interest rate from a finance company. My credit score is at 750 but I wont be putting down a lot of down payment. I have financed commercial equipment with my personal credit before but not with my business credit.

[@NorthAmerican-Trucking-News]

Playing it safe is definitely a good move

[@anonymoushuman3004]

Fantastic information. Thank you for what you are doing.

[@evguenimertodjan9783]

Thanks for advising us on this topic!

[@TheNucleerbomb]

Great information ☺️

[@NorthAmerican-Trucking-News]

Glad it was helpful!

[@jbtrading1116]

Thank you so much for sharing your expert advice

[@iamhowiam2862]

Straight gold. Thank you brother!!!

[@morrisdennis]

Excellent advice

[@jmendozas197]

Thank you for these tips, Ronan.

[@mountainmandale1587]

Leasing is glorified renting! Never do it!

[@JuanCheeto]

You must enjoy owning depreciating assets

[@icarys]

I'll be leasing to own. Something wrong with that?

[@jajajaja2624]

Taxes are better on leasing and its always someone else problem to fix the truck.

[@itsashrimpthang7569]

Thank you for your information and support💯

[@rmede69]

Great tips! Right on thank you very much, God bless you 🙏

[@jackculp9776]

I have watched 3 of your videos and like what you are saying and teaching. I have friends who have yet to buy their first truck and I am going to buy another truck. I am sending your video links to each of them, these are excellent and I have learned a lot from you. Thanks so much, I am looking forward to hearing more from you.

[@NorthAmerican-Trucking-News]

I am so happy that u find them useful Stay tuned to tomorrow A really good video coming out, took me about 3 days to put it together

[@nevillemuthabali3188]

I do enjoy your content since I have to join the go. I like this 👌

[@NorthAmerican-Trucking-News]

Glad to hear it!

[@robertovillalon2841]

Another valuable video! Thank you!!!

[@picoleleu]

Nice advice! Thanks from 🇬🇧

[@NorthAmerican-Trucking-News]

Glad it was helpful!

[@reginaldomaisde5059]

Very very good your video!!

[@NorthAmerican-Trucking-News]

Thank you! Cheers!

[@truckerman3746]

Where is the lease? I though you will talk about both as you mention at the beginning!

[@armbrusttelecommunications7787]

Same here

[@NorthAmerican-Trucking-News]

stay tunned, i decided to do a seperate video on the UGLY truth about lease operators" it will have the pros and cons. the video was already 20 min long after we shortened it.

[@truckerman3746]

@@NorthAmerican-Trucking-News Okay!

[@Inferlogist]

All this guy said is true, I was the victim of the Frieghtliner and Dimler Fanensing scam. I was sold a used truck with a mining that was salvaged and repaired, but I paid full price as brand new , after signing the contract, the dealer removed good parts from my truck, replacing them with more cheaper ones and having no symmetry. Despite the amounts indicated in the schedule of payments, Daimler robbed me by charging an additional fee, they ignored all my complaints, including the Oregon Freightliner office. If you buy your first truck in the first time in Canads , be sure for 101% that the dealer and the financial company will rip you off from about 15-50% in addition to the initially declared amount price .

[@jeffsutton950]

Personally I’m paying cash for the truck. No payments.

[@TruckerBod95]

From experience the dealers dont let u hook up to trailer empty or loaded

[@dane6510]

I wanted go do a 5 year finance and try to pay it off in 3. Just to keep my payments low incase the truck does brake down.

[@topdoglogistics1406]

I agree 100% prices are through the roof plus a parts shortage. If I get a warranty I’d get it through the manufacture not a 3rd party warranty

[@shodbfs6663]

Another great video. A couple of questions, it seems your recruiter is a bit disregarding, maybe reviewing too many applications? Can you disclose how recruiting works and why all recruiters all are females and recommend the best process to be hired. Thanks.

[@NorthAmerican-Trucking-News]

we definitly have Lots of applications, but i know she was on vacation all of last week, and monday was a long weekend. Can you send an email to [e-mail]

[@jesserasso1042]

I like this really good information good job👍

[@jesserasso1042]

A El juapo likes these guys

[@billygomez4073]

My company offers no money down on ungoverned good used trks and at $400 weekly depending on the year..they set you up with a maintenance account and you pay your trk off in 2yrs..no BULLSHIT nor hidden fees..my trk is paid off and I hold the title..

[@kennethsmith9574]

Who are you with?

[@billygomez4073]

@@kennethsmith9574 c&w trkn and son's....bettendorf IA..look us up on FB..tell him I sent you..

[@ForestService007]

I Wish to see this video before I bought the truck...

[@peterugwuoke2509]

Thanks for the great info. Do you mind sharing the link on how to apply for truck financing to get quotes from different companies. Thanks

[@manuelnavarro2240]

Good Info,,,,

[@NorthAmerican-Trucking-News]

Thanks for watching!

[@glennevitt5250]

Thank you for this information

[@Getmoneyent187]

Ahhmazin video, I loved the information, I definitely shared it

[@bobtailcapital]

Great video, thanks!

[@GrdDog]

Awesome information ty very much !!

[@cemamoprinting7132]

Thank you so much Ronen , I have a question : what would you advice to a new truck buyer, new or use

[@oaklandraidertrucker1847]

Ahhhhhhh…. Hands down the MOST asked question in the trucking KZbin space!!!!! Just type that question in the search bar… You will be amazed at the content that will come up

[@icarys]

You didn't ask me but I'm buying used. New trucks are much higher in price. Longer terms. Just my two cents. Ronan told you though. If you buy used, buy one that's in a fleet and being used.

[@thisismagacountry1318]

@Daan Daan

[@nakobilly]

Great info! 👌🏼👌🏼

[@danilojones7193]

Great information

[@paulrivers6747]

Nicely done, very informative, looking to purchase a tractor soon, I will be talking to you in the near future, thanks so much

[@felicia1ofakind]

Great video! Do you have any dealerships your recommend?

[@NorthAmerican-Trucking-News]

I’m so sorry I don’t Where r u located?

[@ChristisKingOverMyLife]

GOLDEN!

[@NorthAmerican-Trucking-News]

thank you for the positive feedback.

[@willjones4630]

Hypothetical: So I buy a tractor from a dealer and they pull all the financing tricks on me and I get on the road. Next step is to just refinance. Problem solved. Right? What am I missing?

[@stilliraise9201]

I do have an idea. How to build credit?. Or tips and tricks on how a truck driver can build up credit fast. Saying hi from Illinois.

[@danielochoa8870]

Thank you for this educational video, I just shared it with other truckers friend of mine. I think warranties can be very helpful ic they do the job. Do you know a good warranty for trucks that you would recommend ??

[@DropDeckTrucker]

1th truck is Volvo vnl 760 new i finance for 3 years ! 2th truck 2016 international 9900 I finance 2 years o ly ! Vir volvo I give 70k down payment for international I give 30k down payment ! ! Volvo will be payd in July this year ! International will be payd in February! Is very true what you say !! Even the Volvo have problems ! Not big deals but have ! !! Very true what you say

[@powshredder3716]

good info thank you

[@NorthAmerican-Trucking-News]

Glad it was helpful! Stay tuned for more!

[@myyt1784]

Hi, Good content, however where is the link to get preapproval ? cant find it on your description

[@ShamsherSingh-nb8xw]

Please explain benefits between leasing and financing a vehicle

[@terryfrazier2661]

Do you have a list of fleets selling trucks?

[@Inferlogist]

my company pays me $ 0 if I pull an empty trailer without leaving the administrative boundaries of the city, no matter how many miles or hours I have to spend on this trip, in Mississauga you can lost half day for that then left without any load , one day + work fuel going lose because fake contract which is wrote by scame terms.

[@Libometuki]

Can you do a video about today truck offer. I saw ad brand new trucks for 4795. How to find out the price of the truck if we don't go to dilership first. What I can see dilership does not have anything online to offer only Punjabi people selling trucks with crazy conditions. But if you go to truck dilership they don't have anything.....it would be interesting if you can record video about it. Thank You in advance, this is the best channel what I found and thank you for sharing your experience

[@flatbedtrucker5473]

Right now I wouldn’t finance a truck right now. As we know there is a parts shortage along with overpriced used trucks

[@controlleddetonation8905]

Awesome info. thanks alot.

[@NorthAmerican-Trucking-News]

Glad it was helpful!, please share video if possible.

[@frankswain9483]

Fabulous content, Ronen. But one question; does ET Transportation have any interest in Truck Loan Center? Any family interest there? Any financial incentives for your recommendations? Just for transparency so we all understand. Thank you.

[@NorthAmerican-Trucking-News]

no we dont have any Skin in the game. Its very hard to find a company that finances both in Canada and the US.

[@simarpreet123]

Very informative thanks .... Please also mk a video on load rates brokers and dispatchers .... How to negotiate on loads from brokers

[@spiderbrandt4066]

Mate , your Awesome

[@Dewey60s]

Hey much appreciated for this info, I did business with “Diamond truck sales” and I was wondering if there was a number to call if one of these dealers keep your money without receiving no merchandise. They still have $9,700 of my money. And they told me that’s it’s a no refund policy.

[@edwardbaker5373]

I financed with no money down and a 550 credit score. 12% interest

[@chrisgabriel7241]

Hey Buddy where did finance with

[@edwardbaker5373]

@@chrisgabriel7241 small credit union in Maine. Bought my truck for $33,000. Cascadia, 2016. In 2020. With 480,000 miles. Was an awesome deal

[@edwardbaker5373]

@@chrisgabriel7241 no they won’t. You have to live in the county your credit union is in. There should be lots of them around you. Open an account and start putting money in and building a relationship with the bank. That’s what a lot of us do. The little unions banks are way better than the big banks for small stuff like this

[@chrisgabriel7241]

Thanks my Brother for the info 🙏 🙌 👍

[@KazDolla1]

I want to fill out your form but my issue is getting my credit pulled several time, which you don't talk about. When you have good credit, pulls concern you.

[@matueugoku]

where is the Link he talked about in the video ? about the banks for financing ?

[@JuneGoddi]

What link??? Where's the link?

[@rickyramirez3702]

That was cool IAM look for a truck but need more information thank you

[@NorthAmerican-Trucking-News]

More to come!

[@brookben6767]

Great video thanks !!! What is meant good credit in ur context?

[@NorthAmerican-Trucking-News]

Anything over 700 in my eyes

[@nelsonraul26]

Excelente vídeo

[@NorthAmerican-Trucking-News]

Thank you! Stay tuned for more content like this!

[@jajajaja2624]

Most default on their loans is driver's dont save before coming into the business and #1 not doing the numbers on the company they want to drive for like miles deductions and seeing how many miles they have to drive to the payments . I don't have a CDL yet and the I the company I going to sign up with I don't have 3500 miles to make a payments and I will other driving opportunity with a short run company . Plus Iam leasing on my business not personally .

[@norasmith2032]

Very goid video omg i learned alot from u

[@John-kr7iz]

Be curious to see the interest for a lease operator

[@ze_german2921]

I bought a 2020 Ram 2500 $65K, I negotiated 12K off. How much wiggle room is there on a $150K truck?