I have tried searching the web for places that give loans for trucks, but i can't find anyone that finances for a truck my boyfriend already found. These places only want to finance for trucks they own.

Does anyone have any suggestions. I also don't have the best credit rating since my divorce.

Thanks for any help you can give.

Cowgirl

 

Are you suggesting that your boyfriend wants YOU to finance the truck? If so, I strongly recommend that you run far far away. If his credit is not good enough to finance the truck, then how do you expect him to run a profitable business?

If he decided to up and leave you, then you would be stuck with the payment on HIS truck.

This is not a wise decision, but probably a decision based more on feelings than anything else.


But to answer your question - I would look into getting a business loan from your local bank. If they won't finance you (or your boyfriend), then perhaps you should take the hint.

 

I cannot agree more! At least marry him first (I can't believe I just said that) Truck financing is a tough thing to get for the first time,try searching for "leasing" on the web I found a few companies who would do a lease with a one dollar buyout at the end for me from a dealer or private party. I take it you found the perfect truck and now are scrambling to get a loan, please be careful don't get a bad loan for a good truck.

 

Will you be my girlfriend?

 

I will concur with those who advise against buying a truck for your boyfriend. Why does he want a truck? It is difficult to finance a truck the first time. Unless you have fairly decent credit, you will find it very difficult. Your local bank would be your best choice. Other than that you could try GE, Navastar, Paccar and Mercedes. All will finance a truck with decent credit and driving experience. You didn't mention how much driving experience your boyfriend has in trucking. I am also curious as to why he doesn't finance his own truck? You or he will need a good down payment, usually 10-30% of the purchase price. Does he have a lease with a carrier? Will he be running his own authority? What type of truck do you want to buy? There are some alternative financing sources which may finance you with damaged credit as long as you have a big enough down payment. Most will require you to buy one of their trucks. Again, I would advise against financing a truck for your boyfriend. I think it will be something you will regret. He can make a good living driving a truck.

 

I too advise against it,but if you are just looking at options for your boyfreind then start here for some info
http://www.leasesource.net/transport...ackcode=bizcom

I leased my truck and only had to make first payment as a down payment,I have a $1 buyout at the end of the 5 year lease,this is not necessarily a good way to go,because you cannot trade the truck in in 3 or 4 years as you will have to pay too costly a penatly,but it can be easier to obtain with a less than stellar credit rating.

 

Damn, and I thought I was lucky to get my wife to buy me lunch. :lol:

 

:lol: :lol: :lol: :lol:

 

I know that American lease plan will give a loan to first time buyers. All you have to do is search the Internet with American lease plans and it will pop up. They are out of TN.