Banks and Plumbing Businesses

[AFM]

Re: Banks and Plumbing Businesses

I have to disagree the most important part of plumbing business in your vehicle for without a reliable truck that starts everytime your out of business I never bought my trucks through a bank loan they were always to expensive I always took out a commercial hire purchase loan through the truck dealer as they had the lowest interest rates never take out a lease agreement for one vehicle as their will be a bite at the end of the agreement $$$ making the payments on time each month will make you work the harder to pay it off and discipline you into saving money for the future

Tony

[NoeEttica]

Re: Banks and Plumbing Businesses

My first choice is a Cheap van from an auction , and a good relationship with a mechanic ... a little paint and some signs and you are good to go !

Good quality customers don't care about a Fancy truck ... The ones that do are shallow and twitchy and are hard to deal with ...

[Plumber Punky]

Re: Banks and Plumbing Businesses

a line of credit is typically attached as a second to your home. so not owning a home is a reason why a line of credit is not easy to come by. that and a new start up business is the other.

I was able to buy my commercial property with my line of credit. it's just a second on my home mortgage. plus a line of credit is basically a low interest credit card. right now and for the last several years, a real low interest cc.

I can get a line of credit, just not nearly enough to cover the total amount.

does your wife have a credit union she can help with?

no, but I've now found a few that will take newcomers based on location of living/work or location of family members. Their entrance fees are also generally $25 or less.

your wife will have an easier time as she is more established with a pay check. self employed at a time was too easy to fudge the numbers and the last several years, banks don't like self employed numbers. tax returns were also too easy to fudge as they couldn't necessarily prove they were legit.

we have been going the joint route, as she is the majority owner of the corporation. numbers can still be fudged, a little.

you need to have a sit down with the bank branch manager and prove to them that your good for it. or go the shark tank route.

this is what i will be doing at the CUs. common sense has to prevail someplace. the computers all say 'this customer isnt paying his bills.' yet, they are all paid on time as required. worst case, we have 'family' i could contact but there is always a favor or 2 needed...

Good quality customers don't care about a Fancy truck ...

But they do care about you showing up; and don't want to hear that you cant service them because your truck is on the fritz. There is just less to worry about with a newer vehicle.

[AssTyme]

Re: Banks and Plumbing Businesses

My first choice is a Cheap van from an auction , and a good relationship with a mechanic ... a little paint and some signs and you are good to go !

Good quality customers don't care about a Fancy truck ... The ones that do are shallow and twitchy and are hard to deal with ...

I agree. I have never bought anything unless I could pay cash except for the small loan for my home that I had built in 1996 which I paid off in less than 3 years.

It's the way I was raised. I didn't have my first brand new vehicle until I was 32 years old. The nice used vehicles got my azz to work on time every day just fine.

Credit has got way out of line for the average American. Most have to have everything all at once and live paycheck to paycheck putting away nothing for the future. Always burning hard earned cash on interest is not the way to get ahead

BTW: I'm not saying any of the about relates to the OP, I'm just sayin'..............

[gear junkie]

Re: Banks and Plumbing Businesses

2002 IH STEP VAN (FH1652) GENERATOR & COMPRESSOR UTILITY 14' 80K MILES #45712 in Commercial Trucks | eBay Motors

Here's the vehicles I was talking about.

[Plumber Punky]

Re: Banks and Plumbing Businesses

I didn't have my first brand new vehicle until I was 32 years old.

This work truck will be my first brand new large anything. Credit is a pain but sometimes it's a necessity. It does take hard work and a good head on the shoulders to maintain a strong, solid rating. Nothing is easy... People that run up the cards or are irresponsible with credit usage deserve everything they get.

[Plumber Punky]

Re: Banks and Plumbing Businesses

2002 IH STEP VAN (FH1652) GENERATOR & COMPRESSOR UTILITY 14' 80K MILES #45712 in Commercial Trucks | eBay Motors

Here's the vehicles I was talking about.

It's an OK truck but:

- 80,000 plus miles - I dont consider that 'very low'
- there is no mention of any warranty. so i will assume 90 days as most used commercial vehicles have (per my dealership)
- it's way too big for what I need
- depending upon what you use it for you may need a CDL license
- it has options I don't need
- nice on the outside but beat on the inside (with a capital B E A T !). That usually means it wasn't taken care of in other ways. Fleet maintenance doesn't equate to good care, too.

That's why I wouldn't pick this truck. Others may go for it for their business, though. Based upon my other used dealer-bought vehicles I have serious reservations and distrust.

[gear junkie]

Re: Banks and Plumbing Businesses

The same company had a MT45 2003 with 39k miles and they wanted 10k. All of your points are valid but the point I was trying to illustrate is there are deals out there if you look.

[blue_can]

Re: Banks and Plumbing Businesses

Personal opinion - in a situation where your business depends on having reliable transport purchasing a new vehicle is not a bad idea. With a used vehicle you never really know how it has been looked after and as a vehicle ages the risk of breakdown increases. I can see the argument where it could be considered a luxury that should be looked at once the business has got a certain level but on the other hand your business could suffer if you have a vehicle that keeps breaking down especially if for some reason you end up with one with recurring issues. Also it could look bad to a customer base you are trying to build up if you cannot make calls because your vehicle broke down.

[geno gardner]

Re: Banks and Plumbing Businesses

I have a sprinter. When it needs repairs it is EXPENSIVE! A Month ago I had the oil changed, transmission flushed and filter replaced, replaced the antifreeze, and also had the lube replaced in the rear end. Had a rear mud flap reattached. The cost? Just under $1000. Last year the cylinder head had to be replaced and the van painted, cost? About $10,000.

Better factor these kinds of costs in to your thinking. I'm starting to wonder if leasing a truck and replacing it before warranty goes out isn't the way to go in the long run.

Any thoughts?

[Plumber Punky]

Re: Banks and Plumbing Businesses

I have a sprinter. When it needs repairs it is EXPENSIVE! A Month ago I had the oil changed, transmission flushed and filter replaced, replaced the antifreeze, and also had the lube replaced in the rear end. Had a rear mud flap reattached. The cost? Just under $1000. Last year the cylinder head had to be replaced and the van painted, cost? About $10,000.

Better factor these kinds of costs in to your thinking. I'm starting to wonder if leasing a truck and replacing it before warranty goes out isn't the way to go in the long run.

Any thoughts?

When the dealership does it it's always more expensive. Cost of a lube,oil,filter at my trusted mechanic is $135. Trans flushing is about $75. The same for antifreeze. Basic labor, he charges me $50/hr.

On my diesel pickup the glowplug broke off in the cylinder head. Both heads were replaced. Cost? Just a tad over $14,000. There are costs everywhere, just not on Sprinters. Also, per MB, the paint formulation and application has been changed in 2010. It was to address the rusting and adherence problems.

Leasing isnt for me. I dont like the mileage limitations and having to be extra careful about damage.

[AssTyme]

Re: Banks and Plumbing Businesses

I have a sprinter. When it needs repairs it is EXPENSIVE! A Month ago I had the oil changed, transmission flushed and filter replaced, replaced the antifreeze, and also had the lube replaced in the rear end. Had a rear mud flap reattached. The cost? Just under $1000. Last year the cylinder head had to be replaced and the van painted, cost? About $10,000.

Better factor these kinds of costs in to your thinking. I'm starting to wonder if leasing a truck and replacing it before warranty goes out isn't the way to go in the long run.

Any thoughts?

Sounds like you need to find another service shop

[gear junkie]

Re: Banks and Plumbing Businesses

I have a sprinter. When it needs repairs it is EXPENSIVE! A Month ago I had the oil changed, transmission flushed and filter replaced, replaced the antifreeze, and also had the lube replaced in the rear end. Had a rear mud flap reattached. The cost? Just under $1000. Last year the cylinder head had to be replaced and the van painted, cost? About $10,000.

Better factor these kinds of costs in to your thinking. I'm starting to wonder if leasing a truck and replacing it before warranty goes out isn't the way to go in the long run.

Any thoughts?

Good gravy man....that's would take about 2-3 hours to do on your own. Unless you're making 2k a day, it would've been better for you to do this on your own. The service manual is the best $200 you can spend your van. Will save you a ton of money!

[ironranger]

Re: Banks and Plumbing Businesses

I don't agree with you regarding used vehicles. There are some great deals out there! I bought a 2004 one ton GMC full size van just over 5 years ago for 15K, it's been paid off for quite a while now. Never had a problem with it. Put new brakes and tires on it recently. Other than that nothing but oil changes and they don't cost 125 dollars!!!, Maybe 40. . Only have 55K miles on it now. One thing I figured out a long time ago is if you're driving vans for your business the customer doesn't know how old the truck is. My 2004 looks very similar to a brand new one. They haven't changed much over the years. And I agree, customers could care less what kind of truck you drive as long as it's clean and professional. Just my opinion but I would never buy a Sprinter. Rarely do I have to run for parts, carry all I Need for a full days work in the van. Just restock when I come in.

[Plumber Punky]

Re: Banks and Plumbing Businesses

I don't agree with you regarding used vehicles. There are some great deals out there! I bought a 2004 one ton GMC full size van just over 5 years ago for 15K, it's been paid off for quite a while now. Never had a problem with it. Put new brakes and tires on it recently. Other than that nothing but oil changes and they don't cost 125 dollars!!!, Maybe 40. . Only have 55K miles on it now. One thing I figured out a long time ago is if you're driving vans for your business the customer doesn't know how old the truck is. My 2004 looks very similar to a brand new one. They haven't changed much over the years. And I agree, customers could care less what kind of truck you drive as long as it's clean and professional. Just my opinion but I would never buy a Sprinter. Rarely do I have to run for parts, carry all I Need for a full days work in the van. Just restock when I come in.

I would agree that there are some good deals but a used work truck, especially a van, doesn't work for me or my business model. $125 for 10 quarts of synthetic oil, misc gaskets/o-rings, and a filter cartridge is not a bad deal considering that a diesel oil change at a dealer would probably be more. If the oil was purchased in bulk quantity the cost may be slightly less than $125, too.

Everyone has valid points. You just have to do what works best for your needs.