Major Decision

Actually a good majority of those trucks you can find that have been recently completely rebuilt and re powered with new 8.3 cummins motors and electronic Allison autos. Often they are extremely low miles and well maintained. I thought about using one as a platform for either a chip or log truck but their height makes them not the greatest option. Perfect for a crane tho!
 
Looks like an M35. I've thought about buying one many times. The A3 variant is the one to have, CAT Diesel and Allison 4 Spd tranny. They can be had for around $10,000 with about as many miles. I've been thinking about picking one up.


Sent from my iPhone using Tapatalk
 
Steve Connally said:
tough looking truck though! I'd wan't one that's seen some overseas time.
Click to expand...
No im pretty sure you want the one that sat on the line for 20 yrs looking pretty and getting fresh paint every other year. Started and moved 10ft once a week and eventually a new engine because it dripped one time while it was sitting in the motor pool. The ones from the sandbox get pretty chewed up

Sent from my SCH-I545 using Tapatalk
 
I think the m35 is the old deuce and a half. 2.5 ton off road 5 ton on road. those usually bring more money around me because you don't need a cdl no air brakes ( it's some air over hydraulic deal actually ) and don't expect to get a speeding ticket unless your in a school zone. the 5 tons have air brakes I think they are the M939 ? 5 ton off road 10 ton on road capacity I think the A3 on either of them gets you the big ass hydraulic winch on the front that will turn the frame into a banana if your not pulling perfectly straight on..... OK someone Google that and tell me how wrong it is lol

Sent from my SCH-I545 using Tapatalk
 
Steve Connally said:
I found financing----- that's the good news! The bad news is its 30% down(no problem) and 36mos term at 16%. So they want me to commit to a $9k a month payment. WTF
Click to expand...

I know it's tough Steve because you want to become independent as quick as possible - but I would recommend building your small business credit for two years to get better rates.

You could get the independence you want so dearly only to be under water, sunk, and worse off than before in just a few months.


Sent from my iPhone using Tapatalk
 
So doors are starting to open, that is good! Hold the line though, decide the monthly payment that your business model can support with other expenses. There should be a threshold of acceptable risk where your workload has time to ramp up and ride the normal waves, but you aren't lying awake every night in a panic over the next payment.

All the folks with money to lend are watching congress and the house right now while they battle over repealing Dodd-Frank. It does not ultimately matter what they decide but no one is lending money until the dust settles and they know where the legal limits are going to be (for now).

That should all be decided in the next couple weeks and then the banks may need some time to adjust their lending practices, business rules, etc. to match the law. It's all about risk and profit potential for the banks, when the laws are all changing that's more risk so they stop loaning money.

I don't know what's reasonable for the loan you are looking for, but the standard for something like that, regardless of the interest rate would probably be closer to 20% down and 60 months. The offer you got seems pretty rough.

If business goes as planned you can pay the loan off early and the interest rate will not be as critical.
 
Last edited:
Steve Connally said:
My boss said he'd pay me as a sub but we haven't hammered out the details. Plus I'd need to borrow and buy something to establish that biz credit.
Click to expand...

Auto loans are always there, you could get a work vehicle or possibly refinance your existing vehicle under the company name. It will ding your credit initially but as you pay it off it will give your bus. credit a boost.
 
You must log in or register to reply here.

New threads New posts

Kask Stihl NORTHEASTERN Arborists Wesspur TreeStuff.com Teufelberger Westminster X-Rigging Teufelberger
Back
Top Bottom