Higher Down Payments

[purgoose10]

I have financed my purchases through Freightliner, and Diamler.

I paid zero down, (prefering to work on THEIR money and not not mine), with an effective interest rate of less than 10% on each one.

Of course I have owner operator experience dating back t0 1985, no one has ever lost one red penny in our dealings. And my credit score remains close to 800.

That's how I do it with GM. Well Ally now. Bought so many C/Vans there my sales manager that's sold me the last 6 just stocks one about the time I buy. The last one Sent the driver there and he just swapped everything out there and the saleman helped him. Now when I get a max and not sure whether or not I'm getting one or three but since they are more expensive will probably put cash down. I'm thinking of upgrading and adding one more. I would rather have the cash in my account than their's.

As far as OOIDA they do not finance Expedite trucks ST or C/vans. They will finance a TT.

 

[BillChaffey]

Regarding Insurance Companies. It has been posted on here more then once if a driver has no experience in a Straight truck. That person won't be insured. Then how do the husband & wife teams coming from working K Mart or waiting tables get into a Fleet owners truck with no experience?.

 

[purgoose10]

Regarding Insurance Companies. It has been posted on here more then once if a driver has no experience in a Straight truck. That person won't be insured. Then how do the husband & wife teams coming from working K Mart or waiting tables get into a Fleet owners truck with no experience?.

That's a really good question. I would say that the carrier's insurance with the carrier underwriting them. I always wondered how some school graduates get in with a carrier. The only way I can see it if the carrier is self insured. To be self insured they must have a million dollar cash bond put back for the first incident. I guess if that's the case they are rolling the dice. I read a thing about an accident Swift had several years ago that a driver with less than a years experience ran a stop sign and killed a family of 4. Swift lost the lawsuit and the judgment was $42million. They must have appealed because that would have put them out of business. That judgement was about the same time the companys original owner took the company back. So again I don't know.

I believe the bond now is $1million for non hazardous and $5million if they carry hazardous. Something like that.

 

[BillChaffey]

I'm not making myself clear. It's the Fleet owner who hires a couple with no experience and puts them in a Straight truck with Fed ex or Panther or anyone else. How does the inexperience come into play. I would think the Fleet owners Insurance carrier would want to know something about the persons driving the rig they insure. Other then if they have any MV violations.
Here in the sticks I drive a Ford F250 Super Duty and have a 24' x 8' 6"goose neck flat bed trailer. I haul hay, move tractors or skidders. Occasionaly Cedar or hard wood to a local mill. Haven't driven a Straight truck in over 30 years. That being said I firmly belive I could get insurance if I were to purchase a Straight.

Yesterday I inquired with an Advertiser on this site about a Straight truck. And was told by E mail the cost of insurance would affect what I would need for a down payment. Which I clearly don't understand at all.