Road Grit! How to Finance A Used Big Truck

Road Grit! How to Finance A Used Big Truck

Financing is still the most common way to purchase a vehicle today. However, it is important to know the obstacles in purchasing a vehicle using financing. One of the most important parts of this process is the credit score. Getting an equipment loan is going to be difficult with a low credit score. Here are several tips for getting approval on commercial truck loans and commercial truck financing in general.

Read More

Road Grit! Truckers - What is an income statement and why do you need one?

Road Grit! Truckers - What is an income statement and why do you need one?

Road Grit! What is an income statement?
I'm going to give you something that is probably very different from what most of you have been taught about an income statement.

But first let's look at what an income statement is. An income statement is very simply the income coming in minus the expenses going out, and that equals profits. Those profits are either going to be the black, which means you are making money, or the red, which means you are losing money.

Read More