How To Get Started As An Owner-Operator When You Don't Have A Lot Of Money

14 January 2015
 Categories: Automotive, Blog


If you have always dreamed of being a trucker, or if you are currently a trucker who is ready to transition into owner-operating, you could assume that you need to have a lot of money on hand to get started. Although it's true that you will need a little bit of cash to make the transition, you should know that there are ways to do so when you're short on funds. Try these tips, and you can achieve your dream, even if your bank account isn't as padded as you would like for it to be.

Consider Leasing

If you haven't yet thought about leasing a semi truck instead of buying one, it's something to look into. To lease a truck, you typically don't need to have as much money up front as a down payment, and your payments will be a lot more affordable. You'll be able to enjoy all of the benefits of being an owner-operator, but you won't have to worry about paying for repairs. Although you will never actually own the truck, this can be a great way to get started without having to come up with as much cash. Speak with a company like Decatur Trailer Sales & Service Inc for more info.

Look Into Owner Financing Options

There are plenty of people out there who are looking to sell their semi trucks for one reason or another. Some may have moved forward and purchased newer trucks, and some might have gotten out of the business. Regardless, it can be a good idea to purchase your semi truck from someone who has been in the business. These trucks are often more affordable, plus some owners are willing to finance the truck purchase themselves. This means that you can make payments directly to them, which can be a lot easier to do than getting approved for a bank loan. Plus, many owners are more anxious to sell their trucks, so they might be more willing to give you a good deal.

Look for a Buy Here, Pay Here Dealer

You don't always have to buy trucks from a fancy dealership. Instead, look for one that offers a buy here, pay here option. These dealerships are typically accustomed to helping buyers who don't have a lot of money on hand and who don't have excellent credit, so they often offer easy deals.

Don't assume that you'll never be an owner-operator just because you don't have a lot of money. Instead, try these tips for acquiring your truck without a ton of cash.