HOW MUCH I PAY MONTHLY HAVING A TRUCK IN MY BUSINESS NAME || HOTSHOT TRUCKING
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- เผยแพร่เมื่อ 16 ก.ย. 2024
- ON THE ROAD TO 10k….. LETS GOOOO
MY ONLY HOPE IS TO ENCOURAGE ANYONE WHO IS THINKING ABOUT GETTING INTO TRUCKING BUSINESS.
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Everyone’s first business loan has a terrible interest rate the trade-off definitely being you having access to unlimited funds. Once you show, you can pay that off. Keep grinding
Big facts. It’s tough in the beginning but in the long run it’ll pay off having established business credit.
@@JBTRUCKN once you establish that business credit, debt becomes a weapon! 🤑
I was complaining about my payment on my hotshot dullay but now I see everyone has to start somewhere. I pay 1600 a month. Keep grinding fam💰💪🏽
Yeah these payments be up there. But when you establish more credit for your business and history. I think it’ll be lower. But that’s average tho for these trucks. When I had it in my personal name I was paying like $900 ish
1600 isnt to bad. That’s what I paid for luxury trim $105k trucks with only 15-20k down.
My boi, im rocking wit u kid!! Every video you put out im taking notes bro and this one here is another gem of honesty, like yeah u upside-down on the loan but its called data points. Get out that loan as fast as possible
I appreciate that 🤝🏾 it’s always a trick to get around everything or just knowing the market. These trucks are in demand. Especially if you keep the miles low.
This is why you don’t finance a truck under your business or use commercial financing. Use personal credit and lease the vehicle to the business. Then, when you get commercial insurance, you tell them you have a lease between your personal and your business and need an additional insured added to the policy. Some companies do this, some don’t, so shop around.
What’s good JB…thanks for being so transparent.
Always💯
I bought a dump truck last year, 1999 for 38k plus finance charges = 64k @72 months for a payment of $1850 per month and an insurance note of $$1250 per month. Oh and i put 40k into repairs. I started working in july 2022 and the truck made 89k before jan 1 2023. So dont cry about payments guys especially as a noob owner. Just jump out there and chase your dreams, you'd be surprised at how hard youll be willing to work for yourself. Last my first day of the season starts tomorrow baby!!
Moral of the story be ready to pay high notes lol. But yeah for sure the it’s a business and the business has bills to be taken care of.
I’ll be out there soon. Be safe out there 🦾
@@JBTRUCKN 10-4 buddy!
Oh and that's 1850 at 36 months lmao, goodness grief!
@@kloud1174 if ya don't mind me asking. What truck did you get?
I'm about to get a 2000 Mack Rd688s for 34K.. Financing for $979 a month for 48 months.
Puts at about $47k when the 48 months is over.. All in my business name..
Company called Envision Capital Group out of Cali
@@lariyahel7054 So thats not bad considering the truck your looking at. I have a RD688s myself, its like the toyota of DT's. Just remember when it comes to heavy duty trucks there's almost always gonna be repairs needed. Many (small issues) just to pass inspection. But with RD688s any work you do will be worth it because you get so much bang for your buck Please pick up an RD688, its literally a tank lol
I just purchased a 19 ram 3500 @ 10 apr 5k down $1027 a month first commercial loan as well !
Insane payment! How much on insurance?
How many miles did it have when you bought it initially ?
JB, my brother you're good bruh. Check this out. If you can afford to drop a principal payment every other month or a extra payment you will kill the intrest and pay way less for the truck.
Good job bro. Keep grinding. Look you started out with a new truck with no money down.
I did the same thing with my Denali but my credit union had a program in place were, I could use a point system to get my intrest rate dropped.
I'm proud to see my people out here doing it.
Many blessings to your family and you.
Keep giving game bro…. that’s 💯
Already!💯💯💯
Appreciate the information sir.
I want to start doing hotshot because i love being on the road on a mission, if i do i would have to make at least 5k a month for mortgage, truck, fuel, insurance, would it be worth the risk?
Shalom achi! Great info! Are you LLC or SCorp?
I tried to get one but no luck 🙃
I’m looking at a 2016 Ram 3500 w/ 160k for 25k payment like 480 month .. $1700 cargo insurance monthly
have about 5k set aside, or at least a credit line for that much in case that transmission lets go. Engine should be solid with those miles, the transmission would be my only concern
@@demikpre I ended up picking up a 99 f350 single cab 7.3 for 5k
I’m getting a stage 3 aftermarket trans for it 60k warrently 4500 installed
@@demikpre how much do you usually run before you cover your insurance / overhead
My interest rate am I semi truck is only seven percent
Got a question thinking about jumping into the hot shop business what should I get first my insurance or DOT or get at the same time
Insurance first (authority) and I would get the lowest coverage you can get now so that you can build up time under the MC number. That way when you really go active and on the road you’ll already have that MC number aged so that you won’t have a crazy time with brokers.
Shelter insurance agent Katie Zimmermen out of illionios cut my progressive insurance in half
13.9 % your crazy
It’s not crazy. Do your research. All my personal cars APR 3% to 5%. When you jump into any commerical loans it’s going to be way higher than a regular loan. Unless the business has establish credit.
@@JBTRUCKNstill that’s crazy but your making money so blessings to you and may you be prosperous
You still owe a 100k on a 70k truck
You going to pay 126k for it
gotta pay them dues. just buckle down run up a bag, and sale it off or pay extra towards the principle. Hopefully next truck around theyll show more love on that APR
What’s ya ig bro ? I need some extra help ima dm you