Buying a truck
Posted by Libiido@reddit | Truckers | View on Reddit | 29 comments
Hey guys. I know all the trucking gurus are on here so I wanted ask you guys. Where do you advice I buy a truck? 500 credit score(No credit check is even better). 10k saved up. Looking for a 2026 freightliner that I can preferably pay monthly on. I am willing to buy something a little used, but i would LIKE to go for a 1k mile or less truck and I can get some type of good warranty and service.
Ayyeee_justin@reddit
Forget the credit score, you have any experience? Something tells me you have less than 5 yrs. Probably less than 1
Libiido@reddit (OP)
A little over two. Whey are you thinking?
Ayyeee_justin@reddit
Shit same thing you thinking. that going o/o is an swell idea. What’s your plan for the rest of the year?
opinionated_penguin@reddit
I mean with 10k down and a 500 c.s. on a nearly new truck, you’re likely not to be approved or some lender is going to absolutely bend you over. I would really stick with a company truck a little longer and just stack every penny you can. You’re going to need a certain amount of contingency funds. Def look into learning as much as you can about under the hood and other components of the truck/trailers so you don’t have to shell out at a shop too often.
Libiido@reddit (OP)
This sounds reasonable and makes sense. Confession: staying a company driver would be seem more reasonable and doable if I weren't having things stolen from my truck when I put it in the shop to get the truck fixed for almost two months for the second time and only only been with the company for five months and if my ability to make money wasn't being pocket watched. I honestly can't stay here and I realize governing myself would fix those issues and much more when I'm in control.
opinionated_penguin@reddit
I’ve been company guy for 6 years and I have no interest in going it alone. Too much overhead and potential for catastrophe but much respect to the guys who make it work. Would be very cool to have the ability to just book whatever loads I want
deezkeys098@reddit
Don’t buy a truck until you have enough money in an account for an inframe engine rebuild and transmission replacement. Otherwise one breakdown and your bankrupt no truck and have to go company again while defaulting on the loan for the truck
Libiido@reddit (OP)
Oof. When you put it like that that sounds like a monstrous disaster.
ElectronicGarden5536@reddit
Why are you wanting to buy a truck?
Libiido@reddit (OP)
Also jokes aside. Lol
Companies tend to pocket watch and have some bad quirks about them that I always notice I could handle better if I had the opportunity to manage myself. I'm good with finance, business, and research. Also have a couple of years under my belt. Feel pretty confident. I just need to get a truck that I know will make the numbers work and that I can trust.
ExcitingStranger135@reddit
He/she/it wants to drive it.
Libiido@reddit (OP)
Indeed.
threeglude@reddit
This HAS to be a joke, right? RIGHT???
A 500 score is a strong indicator you are NOT financially responsible enough purchase anything wo cash, much less, operate a business in a fiscally responsible manner.
Whatever your reason for the 500 score, you are ill prepared to take on any type of financing. One of the few exceptions would be if you were in a situation like mine, where a very ssuccessful business I was running, lost demand overnight and practically imploded, in a spectacular manner I should add, and I helplessly watched as my world crumbled before my eyes with no way to pivot.
Mathematically, right now, especially with fuel prices as high as they are, it is NOT a good time to go OO. Not unless you have at LEAST $200k in the bank AND good credit, 750 or better.
Enter into car hauling. After 1.5-2 years, you could find a job making well over 120/yr gross!
NectarineAny4897@reddit
None of this info is wrong or incorrect.
Libiido@reddit (OP)
I didn't read his second message because of his over complicated attitude towards a simple question that asked for cordial advice. I have also never stated what he said was wrong. I know nothing about this man and can tell he has some experience in what he is saying. However, no one asked to argue with you. That's where I stop listening. W education though.
Libiido@reddit (OP)
While I appreciate the advice and the outlook. I will consider what you said I add it to my education to make my own plan work. Thank you.
threeglude@reddit
Don't come back here crying that you're in over your head even more then you already are then.
What do I know, I only ran a 200k+/-50k/mo gross revenue online and brick/mortar business. Hell, I've crunched OO numbers to mine, and I make the same +/- a couple grand, AFTER all taxes and expenses are factored. Difference is, I don't have to deal with all the overhead expenses. Most OOs are BUYING a job, a job that's more like a marriage then anything else. When you're not moving, you're working on the truck, new or old, doesn't matter.
I'm not sugar coating anything, especially not for some internet stranger. You sir, will be setting yourself up for nothing but failure with a 500 score and just a measly 10k in the bank.
Ayyeee_justin@reddit
I just looked at your previous posts. Bro you’re trying to go o/o after that incident at JB Hunt? You’re better off just getting another cdl job. Learn to drive safer in inclement weather. Safe travels and good luck
CakewalkNOLA@reddit
Bro, you've got a 500 credit score. Get your financial life in order before you think about buying a truck.
Ayyeee_justin@reddit
Let alone the driving experience
Admirable_Lab_7867@reddit
You're gonna need more than just the down payment for a truck, like a couple months worth of operating expenses. Takes time for the money to start coming in.
Fix thay credit score, get some experience if you dont have any, and come back when you have about 50 to 60 saved up.
WW903@reddit
😂😂😂
Libiido@reddit (OP)
🤣🤣🤣
NectarineAny4897@reddit
You do not have the credit for that size of a purchase. If you DID find someone to finance this, the interest rate would be so high that it could not possibly be worth it.
Start small.
Libiido@reddit (OP)
Thank you.
Savvi0@reddit
Nah boss you gotta start from the bottom, and have a few more thousand saved up for maintenance. Check out Freedomway trucks in Gulfport, MS. Not what you're looking for but it's what you can afford
Libiido@reddit (OP)
Thank you.
smoknrubber@reddit
Fresh outta '92 Ford rangers....sorry
Libiido@reddit (OP)
😂