Hi,
I sell commercial vehicles ...and have had numerous customers ask me the same question ???
Answer: Depends.........
Question : On what ...you ask ???
Answer : A variety of things...like:
Your current situation....paying your monthly bills on time over the last 12 months...is a biggy
Paying your bricks and mortar (home/rent payments) on time...another biggy....
Cash down vs. the purchase price....
How much can you buy down the debt on the truck ????
Have you earned meaningful income over the last 9 months in your profession ????
Can you afford the insurance and maintainence (a lender will ask)
Did you have a recent bankruptcy ????
Loan chargeoffs ???
What is your debt ratio ??? Now ....
If over 50%..keep driving for someone....
Just a few joggers...to get you thinking ????
Hope his help....
P.S. - There are secondary lending sources for larger trucks out there
if you get turned down by the banks.....
Frank in Pa.
"The Beast in the East":+
