OK CREDIT

wannadrivenoww

Seasoned Expediter
My credit has some bumps I am looking to get a straight truck I have tryed alumi bunk and they said I would need a down payment if I went with my local bank would I have a better chance?? Or is there any other options for people with so so credit to get a loan???
 

LDB

Veteran Expediter
Retired Expediter
To be blunt, unless there's more information than listed so far you can't afford to buy a truck right now. You should have 20-25% down on the truck to keep payments to a somewhat reasonable level. You need the equivalent of 2-3 months operating capital in an emergency fund. Your best bet right now is to find a good owner to drive for and put away every penny you can. Good luck.

Leo Bricker, 73's K5LDB, OOIDA 677319
Owner, Panther trucks 4958, 5447
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
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Support the entire Constitution, not just the parts you like.
 

dieselphreak2K

Expert Expediter
I have to agree. My credit is middle of the road. I got my truck with nothing down, but the loan was only 20K, so i could afford to do that. I left home with 200 gallons and 300 bucks. Things are tight, but I'm making it. A breakdown would spell disaster for me right now. A couple months operating funds would be a good idea.
 

Broompilot

Veteran Expediter
Listen to what the Phreak has to say. In reality and I hope he gets buy, he is one break down, one accident, one pipe in the road from being out of business.

I just ran over something three weeks ago, NEW STEER TIRE, NOT just one but TWO. Now I could have gone with one, but that would have only meant more problems. To be in business one must have as Leo said $ in the bank.. These things will happen accidents, break downs, no freight just when one cannot afford it.

Those TWO TIRES $ over 900.00 plus when I got back home another $200 to have them balanced on the truck.. Much smoother, and easier to drive plus I will probably increase my mpg by .50 a gallon. I was feeling the vibration from the lousey TA wheel balance. Not no more.
 

Broompilot

Veteran Expediter
One other thing, OK CREDIT the difference between success and failure, to much credit hurts almost anyone who cannot manage it. Choices one must think long and hard before agreeing to sign, but once one does sign, one must obligate themselves to the terms of the agreement no excuses, no exceptions. Those are the rules, live by them or pay by them thats the difference between OK and Outstanding. Or as I have been thought in business there only two differences reasons or results you make the choice. And pay by the choice.
 

dieselphreak2K

Expert Expediter
I appreciate the kind words Broom. Don't worry too hard. I've got my personal vehicle up for sale, so as soon as that's gone i'll be in better shape.
 

TeamCaffee

Administrator
Staff member
Owner/Operator
Reserves are very important to have not only for breakdowns but for the slow times of the year. When you are sitting one of the things you do not have to worry about it how are you going to make that next payment. You cannot spend every penny you make. Try getting your savings built up before you buy a truck.

Diesel hope you get your personal vehicle sold and get that weight of your back. I think the truck runs better when you are not constantly worrying about a breakdown you cannot afford.
 

clcooper

Expert Expediter
i was think of getting a new D unit. but now after reading what was said i might look for a good used one . I was getting a new one so i would not have to worry so much about break downs . i want to worry more about learning expedte than break downs .i was going for a 2006 ?? with a auto and gen. and nice sleeper. so i would be comforable with the truck i was in . and i dont have much in saving either . and my credit is good .
 

Broompilot

Veteran Expediter
Cchopper there are plenty of previous posts to help you out. If I were doing it over again but I did not know then what I know now, I would buy my truck out from under me.

A two year old KW with everything you mentioned with less than 220K on it. I would be willing to pay a premium for a one owner with records and a very clean truck.

Just my advice, buy as new as a truck as you can find and still put down more than 20% or a min of 15K find one loaded to your satisfaction. Run for three years and than decide on another used or new.

I had no expierence or anyone to tell me what to look for, now I know. No regrets I am very happy do not feel I was taken advantage as a matter of fact I got a great deal, on a very good truck if not the best Expediting truck set up built for this industry. Its made me alot of $ and hopefully will continue to.

To much debt will put you under and if not will cause sleepless nights and days.
 

cheri1122

Veteran Expediter
Driver
And if all that isn't persuasive enough: don't forget that drivers can occasionally need repair too - I got sick a few months ago, had to go to a "doc in the box" out of state, didn't drive for almost 2 weeks, had to go to a local doctor when I got home, because I hadn't got better, and it ended up being a very expensive 2 weeks. Without funds in reserve, it could have wiped me out!
Even if you and your vehicle stay in the best of shape - emergencies happen too, on the road, (like BP's pipe), and at home, and can really cost a lot.
Even the great Karl Wallenda learned: if you go out without a net, you risk a fall that can end everything.
Driving safe means being prepared, as much as possible, for whatever might happen. And feeling blessed, when it doesn't! :)
 

Packmule

Expert Expediter
Well as of May 1st I feel I have become an expert on the subject of "Surprise Break downs and how expensive one can be". Broom Pilot, I was feeling your pain that Sunday when we met at the Flyin J in Dallas and you told me about having to replace 2 new steers, Little did I know what was ahead for me the next day as I carried a load from Dallas to Greenville, SC. It was a beautiful afternoon with half the trip behind me, light load (1 skid (600#) truck was purring, life was wonderful. Then it happened, 33 miles West of Meridian, MS something under the hood went BOOM!! Smoke, Steam and a loud squeal!!! I was right at exit 100 so I hit the exit ramp came to a stop on the shoulder, killed the engine and grabbed the fire extinguisher. I popped the hood and was hit by a large cloud of antifreeze and steam. No fire but a lot of smoke.
I checked hoses and looked for steam coming from the engine block but saw nothing. The steam seemed to be coming from coolant tank. I checked the oil stick but saw no water in the oil.
I called my Carrier and they called me a wrecker and got me to Meridian where we transferred freight and left me at the Freightliner dealer who was closed until 8AM.
After someone came in and took a look at my truck I was told it could be several things but they could not get me in the shop until next week. WHAT ?????
They called their sister shop back in Jackson, MS and was told if I got the truck to them they would start on it right away. OK call the wrecker I need to get fixed ASAP so go ahead and do whatever it takes and pay the price($420.00).
Finally got truck to Jackson at 4PM and they took it right in. The Manager of the service dept. even took me and my wife to a Motel and recommended a good place within walking distance to eat. I was pleased because I was very impressed with his professionalism and the neatness and cleanness of their shop. The shop floor was spotless
and the mechanics had clean uniforms and were themselves very neat and clean.

11PM I received a call from night supervisor at the shop to advise me that I had dropped a valve in #3 cylinder and had done some pretty extensive damage to the engine and asked my permission to proceed to repair. Of course I said yes! The next morning the Manager called me and asked to come pick me up and come to shop to discuss damage and cost of repair. He gave me some options that would get me up and running and the option of a complete Inframe rebuild. The cost was $2000.00 more for the complete rebuild but came with a 1 year unlimited milage warranty and should give me 500 to 750 thousand miles of engine life. I went with the complete rebuild. Time to complete job was 2 days after receiving parts and there was a Freightliner Warehouse in Jackson. Truck should be ready by Sat, AM.

We received a call at the hotel Friday night that truck would not be ready Sat, due to parts not in stock at warehouse and had to come from Detroit Factory and would not be in until Thursday of next week, so Sunday or Monday before truck would be ready. WHAT!!!!
We were already climbing the walls being in that room for 4 days, so Sat. AM we checked out and rented a car and drove 600 miles home to SC.

IT GETS BETTER!!!!!!!

On Friday we received a call that parts came in but several were wrong including the CYLINDERS?!?!?
Well to say the least the Redneck came out in this otherwise mild mannered country boy and I inflected very much verbal pain on the poor guy on the other end. I demanded to speak to the Manager who had taken the afternoon off and was surprised when he called me from home 15 minutes later. He apologized and said he was going to air the parts in overnight and if the factory wouldn't pay for it , he would!

Well we received a call on Thursday AM That truck was ready and running so we drove back to Jackson and picked it up yesterday and all is well except this break down cost me almost 10 grand not counting the missed runs income of being down for 3 weeks.

Two points to make with all this:

1. Always be prepared for the unexpected expenses and count on it being the worst case scenario.
2. NEVER count on Freightliner to have what you need in stock!!

But if you do break down try to do it in Jackson, MS. Because as far as doing a good job and being genually concerned about getting you back on the road, they are.

(Sorry I can't mention the discounts he gave me, and parts and labor that disappeared from the original invoice to the revised invoice, in order to offset my lost time and inconvenience.)

Hey Broom, I don't feel quite as much pain for your tire mishap as I did three weeks ago, LOL


The same rain that spoiled the picnic made the grass grow greener.
Who said that ?? I said that!!!! Why?? I dontno!!

Dan
 

RichM

Veteran Expediter
Charter Member
Wow that is a hard story to hear. Hope things are going ok now. Curious what engine did you have this problem with.
 

Packmule

Expert Expediter
Rich,

I have a Detroit series 50 engine with 550,000 on it. Always serviced and checked daily. Really was a big surprise when it happened, it gave no signs of a problem looming within. I had just had an overhead run in Jan. of 06 and the engine sounded great and ran strong. No smoke, no blowby, used no oil between changes (10-15K intervals).

Somestimes you say Why? Other times you just say Sh^t and keep on going!

Dan
 
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