Commercial vehical loans

Discussion in 'Lets talk Business!' started by Mikey P, Mar 10, 2018.

  1. Mikey P
    Mikey P

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    Rates for what im looking for are between 6.3to 7.hell no


    Remind this idiot why I dont just go with a personal loan..

    Is it the upfit factor?
    Matt Wood likes this.
  2. KevinD
    KevinD

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    Do you have a stock portfolio?
    You can get a security based loan for 3-4%
    I keep a 100k revolving line open on mine...Just in case.
    And you simply access it by writing a check. No waiting on anyone's approval.
    Connor, Chris A, Swani and 1 other person like this.
  3. Jim Williams
    Jim Williams

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    Try Pen Fed credit union. I got around 5.7% with less than perfect credit due to a real estate deal that crashed a few years ago. I was pleasantly surprised. Just remembered they did it as a personal loan. Try any local credit union. They always have good rates.
  4. clean image
    clean image

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    Yea. 16 i got 3.9. 17 was 5.5 i thinks... cost more to borrow now

    Problem with personal. Liability and tax write off, And like you eluded , i got 5k in business upfit, rebates a persoanl will not get

    If your making more than 5.9 in your investments. Pay cash, you can still defer the tax break
    Mikey P likes this.
  5. Radar Foster
    Radar Foster

    Mr Personality

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    Fred Boyle
    I've got a HeLOC that's 4%

    Downside is it's adjustable based on prime lending rate
    Russ T. likes this.
  6. MerCrewser
    MerCrewser

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    Ford will do it for 4, 20% down.
  7. Wandslinger
    Wandslinger

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    Pay cash son
  8. jcooper
    jcooper

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    Who's got 65-70k laying around?
    Russ T. likes this.
  9. clean image
    clean image

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    I would think a company running 3 or more trucks that has been doing it over 5 years, would be fluid enough if needed
    Connor likes this.
  10. Derrick T.
    Derrick T.

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    I used to think like that til about recently...
    Askal and Connor like this.
  11. Sierra Clean Care
    Sierra Clean Care

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    BDCC.... just like the rest of us...
    Russ T., Connor and Nomad74 like this.
  12. Wandslinger
    Wandslinger

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    Please, we are talking about Mikey....he's loaded.
    dealtimeman and jcooper like this.
  13. Nomad74
    Nomad74

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    What am I missing here Mikey? I thought with all your high end billionaire only type customers you would be able to just write a happy check for a new van. Is this a tax thing?
  14. Mikey P
    Mikey P

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    only?
  15. Nomad74
    Nomad74

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    Well. Maybe a few millionaires just to keep you humble.
  16. Mikey P
    Mikey P

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    Russ T. likes this.
  17. Nomad74
    Nomad74

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    Not sure I want that headache. I had seven employees when I had my rentals and that was like managing a day care. As Robert Keosaki says. Employees equal headaches.
    Total_Rookie, Russ T. and Mikey P like this.
  18. Nomad74
    Nomad74

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    I’m know. I’m bitter. Life has done that to me.
    Connor and Mikey P like this.
  19. steve_64
    steve_64

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    Whiskey sour helps
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  20. Connor
    Connor

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    No, he's just full, theres a difference.
    bob vawter and Mikey P like this.

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