Truck Financing - THEN VS NOW | GOOD VS BAD Credit in 2023

[@thomaskirkpatrick4031]

Everything you've just said is how these companies are still getting drivers into a lease purchase. They make it attractive, no money down, no credit check.

[@davidminer84]

If your thinking that a new truck will pay for itself with fuel efficiency you also need to understand that it will only do that if you drive the truck 3-4K a week. That means you are counting on long haul loads. Right now long haul loads don't pay enough to take them. The only loads that pay are medium and short haul and when you don't drive as much the fuel efficiency of the truck is no longer relevant and you end up paying out of pocket. Think of a yard truck... nobody cares how fuel efficient it is because it only drives 5 miles a day and a savings of 30% is 2 bucks.

[@tarafabelayachi6061]

This is the best truck financing in the world.thank you so much Ronin My dream to work with you in future

[@michaelcopeland8985]

No idea why someone would buy a truck right now.

[@keithmorgan4883]

So they can say they’re an entrepreneur 😂

[@reggaeriderr]

A person with big nutz can do it. Little wehbos don't have what it takes.

[@cooluser4017]

​@keithmorgan4883 better than being a companies little bitc hhhh

[@michaelc9128]

I agree ,it's same question as who would even buy a new car right now

[@deesplash7087]

@@keithmorgan4883literally 🤣

[@Joshualibbyy]

Plz do a video comparing trucking in the 1900s vs trucking now and really open up people's eyes on how much we get screwed out here

[@curly50POW]

He did , it's crazy😢

[@belalberry]

Saving up, waiting on big decline in used truck price and buy my dream truck with my saving up front

[@Ukacip]

This is the least of your worries..... new drivers focus on your insurance before buying anything or financing.... my insurance came out to 60,000$ per year insane and i got 2 points on my license but thats crazy how you gonna afford working with that crazy amount

[@stevemaccollum4688]

Please do a video explaining why we all used to slide our bogies to the back! I just unloaded one of your truck with axles way forward! My machine weighs 20,000lbs before I put a clamp or forks on and then the load itself. We have seen subframes snapped in 2. I hate seeing trucks not rolling because of silly mistakes!

[@teamginate3400]

When it comes to first time buyers it doesn’t matter if you have excellent credit and a 20% down payment you can’t get a simple interest load. They stick it to you.

[@Kevin-e1j5m]

Great information. I have a similar situation to a previous post. Long time cdl holder but no recent experience and looking at becoming a first time truck owner and becoming an owner operator. The dealer financing broker, states the best a new owner operator with no recent experience, 5 years, excellent credit rating, above 830, can do with a loan interest rate is 17-19 percent and asking for 25% down. I plan on completing a form you provided in a prior video where after completion of the form financing companies would bid to finance me. Any insight into the interest rate for a first time buyer would be timely and very valuable. Thank you for all the informative videos, i like the funny videos too!

[@MrLostMD]

Thank you for this channel, it is sooooo helpful

[@crdougsol]

I had my first and current truck in 2019 priced at $109000 with $15000 down at 7.5% for 42 months

[@Jack-pd4ps]

Fantastic! 👍

[@nelsontovarquinones2749]

Who did you finance with?

[@crdougsol]

@@nelsontovarquinones2749 I finance through the dealer at that time ( JX Peterbilt which I can only say they were very fair to me) I'm talking about 2019. I'm in the process of getting another one this year and this year things are completely different, this time I'm going to put everyone to compete for my business.

[@ikechukwukamalu8650]

You’re using “lease” and “buy” interchangeably. You gotta say which option you’re explaining.

[@NorthAmerican-Trucking-News]

Apologies for the confusion

[@Clever853]

Great video. you've remind me of what someone once said❤ Making money is an Action, keeping money is behavior, Growing money is Knowledge. I once attended seminar and ever since then i been waxing strong financially, and i most tell you the truth.

[@official_warikoo]

To me, comfortable retirement all comes down to how you want to live your life, if you pinpoint a particular amount to retire with, then it's only right to plan with a well-qualified advisor. good luck!

[@SurinderSingh-jd4qu]

I need to salvage my portfolio due to the massive dips and come up with a better strategy. How can I communicate with her please?

[@SurinderSingh-jd4qu]

I'm very glad that I stumbled on this today. This is the kind of information that we don't get from most these selfish KZbinrs.

[@SurinderSingh-jd4qu]

Thank you, I will communicate with her right now.

[@Clever853]

Once you understand the potential of trading, you can bet on it but I think people need the education to fully understand.

[@burtmichaels2676]

Would you recommend buying a used truck or a new truck? Obviously not until things get better. 1st time buyer, would have 20k or 20% of 200k. I don't like the idea of a used truck with over 500k miles for 100k. With a big investment like this, seems better to buy new. Yeah things break but theres a factory warranty. I have a good job so not jumping on anything just yet. Just trying to get a game plan and build my credit up some more

[@Jack-pd4ps]

I had 44k available and wanted to buy a used international. I intended use it for a year and maybe upgrade. I decided to hold off because the Salesman was crappy and jobs want you to buy the truck before they consider you. I also didn’t like that they checked my DAC report. Mine is clean but I don’t like them checking that while I’m about to spend $40k+ on a truck. Driving record, drug and alcohol records are understandable. Going from Company to Owner is a huge leap of faith. The day I was supposed to get the truck, a company I applied to told me there was a line of 30 o/o waiting for a job. They didn’t tell me that when I was selling stock and pulling money out of the bank.

[@burtmichaels2676]

@@Jack-pd4ps that's crappy. And I've found out, you gotta have the truck before the job. Which makes no sense. Yes you can find work as an O/O but I'd rather secure the job with "said company" before going into a huge financial hole. I have no examples but my thoughts are. If you were gonna work for this company, be home once a month and make X. Now you gotta work for them, be gone for 3 months and only make M. I prefer the older or "real trucks" from when I grew up. I can get a 96 freight shaker. He wants 25. I feel it's worth 15. It just sits there so it's not doing anything for him. I'd meet in the middle at 20. But I'd rather have that money sit in the bank instead of paying to store it somewhere til the world gets better and I can run it. But let's say you go all out and buy a 40k truck. Find out the engine needs overhauled. You spent every penny to buy it and get rolling. Now you got nothing. Idk, sorry off topic but it's hard to make any moves

[@marlonhumphrey8610]

Very informative much appreciated

[@zorangrujic657]

Keep on with great advice

[@SuperSurvivor4]

Thank you. I would like to purchase a used truck. I’m going to wait.

[@troychavers6666]

Your calculator was extremely helpful. How about good/affordable insurance?

[@thomaskirkpatrick4031]

3649.65, that's almost 4 times my mortgage payment on my first home? I can't imagine buying a truck today, with fuel prices, freight rates being down, insurance rates. You really better know what you're doing.

[@fernandoestrada5367]

Great video 👌🏻

[@nadamin8]

I have 800 fico score. Penske offer me 26% APR with 30% down payment. Because new authority and Limited cdl Exp So I decide to buy used truck with all cash :(

[@ukayhemi6385]

Sheesh, what did your bank say? Or did you even see what they say

[@sofianeakkouche1368]

Stop taking 1$ loads you new drivers you broke this business

[@Jack-pd4ps]

@@sofianeakkouche1368people who speed and work too long also broke this business by doing more then what was supposed to be done.

[@nadamin8]

@@ukayhemi6385 Went to local bank they can't appove business equipment loan because new start up. I asked Penske they told me that since new business and limited cdl exp. Rate has to be insane. It is much better to swipe the credit card instead of get a loan from Penske.

[@nadamin8]

@@sofianeakkouche1368 Have you ever see that I took a dollar load? I never take dollar load. There are too many trucks outside. People like you. Who doesn't have any common sense should retire from trucking. so rate can pick up.

[@Pbsher]

Amazing help brother GBU

[@wppz]

Hi, what is the website where you apply for financing? You talked about it in some videos where the creditors compete to get your business?

[@NorthAmerican-Trucking-News]

www.ettransport.ca/commercial-equipment-financing-2/

[@speed1320]

Your information is confusing when your talking about purchasing but using lease terminology, and balloon payments. Lease to purchase may be what you're talking about but you need to clarify that.

[@alaskahaul2085]

I need to become a broker

[@MannDaTrucker]

Hey, do your company hire drivers that had to do SAP program?

[@thomaskirkpatrick4031]

Are there any good lease purchase deals out there? Not just making more money, but ending up owning the truck?

[@frederickknapp5340]

LOL, to go O/O I would want the cash to buy the truck and trailer and then at least a mil in the bank to cover costs. If I had that I would retire.

[@Superchargedtio]

What are some good financing companies

[@thomaskirkpatrick4031]

Why would you need a finance broker, why not just go right to the bank? Or is that what a finance broker is, the guy at the bank that does the paper work?

[@martinsantillan2538]

INDUSTRY IS GOING DOWN LIKE A ROCKET!!! AND THE WORST IS YET TO COME!!

[@MarineTrucker1775]

Now do dry van Trailer financing

[@JottaBrica]

Good evening Sir ! First, congratulations for yours videos and for all valuable informations. I would like if you can indicate to me a good financial company to refinance my truck please. Thanks

[@bernardomichel9837]

Hi how are you if I my on truck if I want trade what is the best way thank you

[@IpVp4Fun_]

I’ve got three trucks on my new authority, its a pain to find loads in the current state of the industry since our authority is new, gosh u miss my old auth. What do you guys do to find constant loads?

[@kiabuineric3095]

Hello is it good buying a truck now? Is it good starting as an owner operator being a local driver?

[@parwiztorabi7613]

Thanks ronen

[@fidotoptrucker6061]

How do I get a consultation with you?

[@NorthAmerican-Trucking-News]

Send us an email at [e-mail]

[@MrBrownbillca]

What company's in Canada do bad credit lease purchase programs ?

[@elcastorgrande]

Is it a lease payment or a loan payment? Are you buying the truck or leasing it?

[@fernandoestrada5367]

I have a question, so I’m looking into purchasing a semi Im out of Southern California, I have 6 months with my company active , what is the best way to get a business loan for a down payment?

[@nelsontovarquinones2749]

How can I contact you looking to finance a use truck?

[@NorthAmerican-Trucking-News]

We have an online service available for this! Here --> www.ettransport.ca/commercial-equipment-financing-2/

[@oscarsanchez5494]

I just got a deal with Daimler truck finance. Truck price $160000 with FET & everything else $ a little over $180000 . 0 down 11.99 interest over 72 months.. monthly payment about $3143.. I have excellent credit.. should I have been able to get a better interest rate?

[@nelsontovarquinones2749]

How long have you been in business?

[@jameswest4917]

Trailer Financing?

[@marcellotifon3635]

truck loan center...ACCOUNT SUSPENDED...WOOOOOO

[@kirkbrown2147]

It makes no sense buying a brand new truck

[@ukayhemi6385]

Ima agree to disagree, me personally i see how & know how majority of these drivers don’t care about the equipment & also smoke in the equipment which are 2 🚩 if I ever bought a used trucks it’s gotta be 150K to 200K miles max that way the factory warranty is still in play mile wise & at least for a couple years

[@kirkbrown2147]

@ukayhemi6385 smell is minor, you should detail your truck after purchasing it anyway

[@ukayhemi6385]

@@kirkbrown2147 Cigs are totally different, not Finna be driving around with a headache

[@victormmedina1457]

Is good idea to trade a 96 unit for used 3 yrs truck?

[@nikhiltjokes5387]

Hello sir I am form Indian I love doing trucks driving I want to join with your company how can I join

[@utoobrandomness7197]

In the context of the yield spread prime that the finance guy is getting... Does that show up on the contract as 'origination' fees/points/whatever, or are they calling it something else?

[@TheMoesoliman1]

It will not because it's a commission paid to him not a fee charged to you. You will only see total interest rate or apr you will not get a breakdown of the interest split.

[@MR_Commander]

I tried watching your videos, but that constant, pop...pop...pop... so annoying and distracting, wonderful information, but I will look somewhere else.

[@anthonysilva5015]

I hear that over the speakers in my truck! Drives me insane too! I don't hear it just on my phone tho... but over bt on my trucks stereo... can't do it

[@jimmyconway6080]

Good information but stop scaring guys about losing a wife if a guy’s business is going down. If she is not down for the cause then let her go and be happy to see her leave!

[@TacticalTrucker]

_No credit is bad credit_

[@AkashPatel-hi1rm]

Interesting fact is driver are not respected owner opratore are suffering and top on its really shit market dont buy even if it is for free dont buy truck

[@us9123]

Where is the money, all things are expensive

[@gilbertoavina6156]

A lot of words were said here, all I heard was NOPE NOPE NOPE.

[@discoverycentaury]

There is not money in that industry owner-operators are so poor .

[@kbrad1267]

What the hell is that annoying popping sound on your video?

[@demorus86]

1st

[@stillyoungish]

if you’re financing a truck in todays market you’re insane

[@bilalzaheer1995]

Would leasing be a better option in today's market? Just wondering what the best option would be to start

[@cooluser4017]

​@@bilalzaheer1995cash

[@deesplash7087]

@@bilalzaheer1995company duh

[@HA-nx5qn]

I agree and leasing it is even more insane

[@joeysok2366]

I put down my number and email nobody contact me.

[@Gandalf17]

so a trucker can lose his wife over bad credit?lol

[@shawnnabi1806]

I am in the processing of leasing a truck, how can I get in touch with you. Can you please provide me your email address thanks