Investment Idea

[Adrian]

Hello everyone. I have an idea I want to lay out and see what feedback I get.

We are an established company seeking investors to co-sign loans to purchase vehicles for our fleet operation. Loan amount varies from $45K to $125K depending on the type of vehicle. We pay weekly commissions from each vehicle to the investor. Monthly investor income is approx. $800-$2000. We handle all maintenance, hiring, loan payments, insurance, etc. Contract is for five year term and company retains vehicle at end of contract.

Input? Comments? Interests?

 

[themagicoen]

I've thought of doing the same thing but could never get anyone to do it. If you do find someone, let me know as I'm in the need a cosigner to get my self a truck. May be even we could trade, I'll cosign on your loan if you co-sign on mine. Thanks and good luck

 

[Tennesseahawk]

I doubt you'll find someone to co-sign a loan for someone they don't know. I'm leary to ask anyone to co-sign for me, as I know how the wind changes in this industry. If I don't have enough to buy a truck, ie. credit or cashflow, I shouldn't be buying a truck. And, personally, my business will be so much sweeter by busting my arse to get it going, than finding someone's good credit to base it on.

"If I claim to be a wise man, it surely means that I don't know." - Kansas

 

[greg334]

Well the concept is ok and thought of before - I think of time share and property managment when I hear something like this.

But there is a question of legality and the liability of who will pay in th end if the company folds. I mean that asking someone to 'co-sign' would be the same as someone just giving the truck to you without any recourse on how to recover the truck if you decide to sell it to a mexican.

I would say it would be a lot better to get a real lawyer, a real CPA and put together a company that you can sell stock in to raise capital.

 

[davekc]

They are all valid points. The risks are too high for what the return would be in that described situation. Too many investments out there with a greater return unless you are holding alot of insurance and or collateral.







Davekc
owner
22 years
PantherII
EO moderator

 

[highway star]

The dude won't even put a name and location in his profile?

DANGER WILL ROBINSON!!!

 

[Tennesseahawk]

Here's a red flag that struck me. If you have an "established" company, why would you need someone else's good credit? I could understand needing capital. But just someone to cosign a loan tells me you're too high risk if the bank turned you down for what you're wanting. Just my opinion.

"If I claim to be a wise man, it surely means that I don't know." - Kansas