100% True. Rule of 72. Divide 72 by the interest rate, and that is how many years it takes for the interest to equal the principal. At 35% in a little over 2 years, the interest has bought another truck. If you finance for 5 years you will have bought the same truck 3 times over. That is CRAZY
And I wait for the amazon relay loads to hit the load board and I can in and get even more...I get up to 800 or more sometimes... once you call first they go with you almost 100% of the time even if you request more
Gotta get your money right. Learn money management skills. Good credit means you are a good consumer. Plenty of people with credit and zero liquid funds
Hey Bigg Vic: You're doing good! I'm setting up to get my Box Truck into motion. Hey, wanted to ask you if you have any videos on the Startup Process (all the way from LLC formation through all the steps that you recommend or experienced)? There are other vids out there on parts of the process, but was wondering on what your advice is. Appreciate your work. Keep Trucking LOL
get your credit right!!!! you honestly robbing yourself, my credit is good, not to brag i paid 10% down with a 11% interest rate on my truck, you cant blame no one but yourself....GOD BLESS!!!!
Thanks for the advice bro. I actually was leaning towards making that mistake out of shear impatience/desperation but I’ll have to remap things after this video
I get what you’re saying about people taking low rates but some people got a loan to pay and if time is running out sometimes you gotta take the low rate just so you can make the payment or lose your truck. Everybody can’t protest
Bigg Vic, appreciate the blessing with the info. Tell me this though, how long have you had your authority and when you first got it, who and where did you first start running with?
I actually don't agree with running from that opportunity. This man is speaking from the prospective of having good credit. In some cases It can work. This must be answered from a cash flow prospective. Considering the amount of time It can take get your credit good it would be unwise to wait until your credit improves and leave money on the table(unless is just mildly bad, then wait)The high interest is just the fee for bad credit and all credit will improve over time. Considering you have cash on hand your only going to make less profit(not a major issue). Thankfully my credit is good now however I created my empire when it was bad. Just do the math It can work.
You did a commercial loan that was over 19%? I’m kinda in this situation now. Got approved for a truck 20% interest rate. my authority is active and my insurance is about to roll around and the financing part is with Balboa(getting the truck from Penske)
I wouldn't lock yourself into a horrible rate like that it's going to hold you back in the long run... if you think you can afford it paying that type of financing then I'd say atleast try to rent first to see if you can save that way...
I produce music too and my concern is will this take a lot of time away from producing? I was thinking about bringing my mac with and a 25 key midi keyboard lol
How ironic...to meet two people that is doing the same thing that I trying to balance. Now you guys maybe more advanced than myself. I picked it up because my son is an artist and the was always complaining about studio cost and time. So I bought what he needed and the rest is history. But I would like to converse with you two at another time on another platform.
@@walkersboyz5618 If you listen to everything out there you'll be staying away from everything lol. So much chitter chatter on the net. Just make sure you can get maintenance paperwork on any potential purchase you're thinking about buying.
You have to sign up with a Factoring company they charge a% but that’s how you get paid within a few days..if not you will never survive in this business
Bigg Vic do you have a recommendation of who to finance with and I was told if you are a first time Commercial Vehicle buyer that they are going to require a down payment regardless of your good credit. Is that true.
So upon watching this vid and others when it comes to load board work and the rates, I have yet to see anyone speak about how brokers are using Partials to low ball box truck drivers. Also, I wonder how many days a shipper gives the broker to move their load? There's a very easy way to legitimately get to shippers.
Anything under 11% is considered good for commercial loans. You can go higher but you'd need to double up on the notes to cut the interest tremendously. ✌🏿
About the lowest rate I’ve seen is about 10% that personal credit plays a major part in that rate. I’m also learning just recently talking to a business loan broker that business address vs personal home address makes a big difference unless you are above 750 on the personal side.
im conflicted on something, i am being told different things about amazon, like do you need three trucks to run for amazon or can you start with just one truck?
No it isn't. They are just offering contract dedicated work for your company if you own five trucks. There is still spot work available for new carriers.
@@BiggVic Hey Vic much respect to you bro and what you do my question is would you recommend renting a box truck when getting started in this game with my credit being very poor right now but I'm working on it currently right now cleaning it up that was my question.
19-35% Are they out there mind!!!! That’s for someone who doesn’t know better and is inexperienced and thirsty to just start without doing research!!! Crazy
I'm with Navy Federal too. Thinking hard about about a 20ft. box truck. I'll be financing through them. I already have the money for it but I want to build credit and use some of their money long as the interest rate isn't too high. It shouldn't be though. I have a decent credit score of 766.
Unless you have your CDL this truck probably has GVWR above 26000lbs or if under the extra weight of the vehicle might reduce your payload weight capacity
Amazon Relay just reached out to me and approved me. It’s time I learn this load board and get this bread! I definitely need some pointers from you bro. I have to rent my trucks right now. But it’s good. I just joined a couple of load boards.
Развлечения
You helping a lot of people with this free game keep it up
Your videos are awesome man, very informative.
Gems on top of Gems. I'm in the process now. Appreciate you
Appreciate you Big Vic👍😊
Was shoot Vigg. I 6 months late. But I’m glad I found your content. Looking to get my first box truck
Straight game! Thanks brother 💯💪🏽
I learned that the hard way bro 💯facts in my early years as a owner operator
Thank you, good information
Thanks for sharing!
Thanks for the good information bro.
Financial Literacy People.. Lets Go.. Bigg Vic is Speaking The TRUTH
Hey Bigg Vic thank u for this video Men great inf.
What's good l appreciate what you're doing. Information is valuable. Keep it coming boss
I got an 20ft isuzu npr that's what I'm starting with paid off 2013
100% True. Rule of 72. Divide 72 by the interest rate, and that is how many years it takes for the interest to equal the principal. At 35% in a little over 2 years, the interest has bought another truck. If you finance for 5 years you will have bought the same truck 3 times over. That is CRAZY
Much respect 🙏
good job
I hate up water keep gettin they bag you sre a t motivation yup see a real motiva
Black man, thank you for the knowledge.
Taking notes 📝 ✍️
And I wait for the amazon relay loads to hit the load board and I can in and get even more...I get up to 800 or more sometimes... once you call first they go with you almost 100% of the time even if you request more
Blessings
Whats goods. Great info
Right now, I think daycabs are a good idea for Amazon. Same as a semi and cheap as a box truck.
Thank you for this!!!
No problem 😊
@@BiggVic where do I sign up for consultation and more from you?
@@thepeopleviews Hi Tisha you can go here: www.calendly.com/biggviccoaching
school them,. Vic, that's right fleet trucks are good 19 to 35% Robbery without a gun or knife, GOOD SHOW KEEP GOING.thanks Vic.
Liked and subscribed
Gotta get that credit right!
Gotta get your money right. Learn money management skills. Good credit means you are a good consumer. Plenty of people with credit and zero liquid funds
I just started producing and also looking for Box truck now!!!
Truth yo
Hey Bigg Vic: You're doing good! I'm setting up to get my Box Truck into motion. Hey, wanted to ask you if you have any videos on the Startup Process (all the way from LLC formation through all the steps that you recommend or experienced)? There are other vids out there on parts of the process, but was wondering on what your advice is. Appreciate your work. Keep Trucking LOL
Right here, step by step walk through. ➡️ www.sixfigureboxtruckbiz.com
get your credit right!!!! you honestly robbing yourself, my credit is good, not to brag i paid 10% down with a 11% interest rate on my truck, you cant blame no one but yourself....GOD BLESS!!!!
How much was the truck
Thanks for the advice bro. I actually was leaning towards making that mistake out of shear impatience/desperation but I’ll have to remap things after this video
Glad I could help!! Them rates are mind boggling.
I get what you’re saying about people taking low rates but some people got a loan to pay and if time is running out sometimes you gotta take the low rate just so you can make the payment or lose your truck. Everybody can’t protest
Good Morning
I totally agree with you bro!! However it's very similar to renting a truck.
To the CDL holder…if you don’t want to go the hotshot route, you can also run with a 28’ box trucks
30’ and more also…24 and 26 are popular because you don’t need a CDL…the larger boxes should be easier to find
does loads pay more ? with the cdl 30ft truck ?
What's up my brother, this is James from Mississippi
NY information
Bigg Vic, appreciate the blessing with the info. Tell me this though, how long have you had your authority and when you first got it, who and where did you first start running with?
6 months with Authority. Ran Amazon relay exclusively first 90 days.
@@BiggVic Hey Bigg Vic should I focus primarily on moving Amazon freight for first few months after receiving authority?
@@martelprayer416 No
Yes
I actually don't agree with running from that opportunity. This man is speaking from the prospective of having good credit. In some cases It can work. This must be answered from a cash flow prospective. Considering the amount of time It can take get your credit good it would be unwise to wait until your credit improves and leave money on the table(unless is just mildly bad, then wait)The high interest is just the fee for bad credit and all credit will improve over time. Considering you have cash on hand your only going to make less profit(not a major issue). Thankfully my credit is good now however I created my empire when it was bad. Just do the math It can work.
You did a commercial loan that was over 19%? I’m kinda in this situation now. Got approved for a truck 20% interest rate. my authority is active and my insurance is about to roll around and the financing part is with Balboa(getting the truck from Penske)
@@antoniobohanon6370 as long you pay more than the minimum in a monthly basis to pay off your loan early.
@@alexmouton6306 yeah I know I had my lawyer look over it before I signed. It’ll be a year in Feb, I haven’t had a problem with them so far
I wouldn't lock yourself into a horrible rate like that it's going to hold you back in the long run... if you think you can afford it paying that type of financing then I'd say atleast try to rent first to see if you can save that way...
I have a brother who have a mechanic shop in Georgia near to the city and he have roadside assistance too, he will not charge those expensive prices
Send me your brother name
need your brothers info too, im in ATL
What's his info...I'm in atlanta
Jewels 💎
I can rent two box trucks for 3 months at the price they're paying for one truck with 20% down and 19 to 35% financing
Exactly 🤣👍
Rentals are almost impossible to come by at this point. That was my first choice, now I’m forced to finance to buy a decent truck.
@@OMOREDE13 yeah its nothing out there at all!! Did you find one yet?
What's good Vic
Yo vic.... what year is your truck... I have a 2013 and I scale over 14k easily. Why is it everyone's weights are so low?
Opportunity Fund has great rates
Hey big V my name is Cedrick from Houston hwo much do you need to get started. And ware. Can you get loads
Is best to book the load on the PC versus your phone
Whatever works for you. I do both.
Just get your credit right first. “Facts”
What's your link in order to connect with you ....Bryan C Columbus,Ohio
What was your credit score they got you approved? What should I be at?
Hello bro nice videos. Is Amazon touch or no touch freight??
Both
I produce music too and my concern is will this take a lot of time away from producing? I was thinking about bringing my mac with and a 25 key midi keyboard lol
You pretty much can set your own schedule for when you want to run loads. Making beats on the go shouldn't be a problem. Light set up. ✌🏽
How ironic...to meet two people that is doing the same thing that I trying to balance. Now you guys maybe more advanced than myself. I picked it up because my son is an artist and the was always complaining about studio cost and time. So I bought what he needed and the rest is history. But I would like to converse with you two at another time on another platform.
It might. Depends on how fast you get the business down.
I did 8 and 10% cause I had to and regretted it every day.
For a commercial vehicle that isn’t considered a bad rate. I’ve seen much higher.
Bro been following u since Gerald told me you was a good dude from downtown Florence....then it was beats but I was no good🤣
That's what's up 😊
When I saw your post I thought you were Voddie Baucham.
What about them NTP Warranties box truck Warranties....anybody have any information ?
Broooo, im very new to your channel. Im a diesel tech for Ryder... Hino is JUNK! Stay clear.
Everybody swears by Hino because of the toyota parts.
What should we buy or look for? Heard to stay away from International also
@@walkersboyz5618 If you listen to everything out there you'll be staying away from everything lol. So much chitter chatter on the net. Just make sure you can get maintenance paperwork on any potential purchase you're thinking about buying.
I do credit repair for a flat fee!! The best thing about this is that i don't need your info because I train you how to do it!!
How do owner operators get paid and how long does it take to get paid?
You have to sign up with a Factoring company they charge a% but that’s how you get paid within a few days..if not you will never survive in this business
Where do you park your truck? Seriously a dumb question
Hey Vic what DAT package did you get ?
$99
Bigg Vic do you have a recommendation of who to finance with and I was told if you are a first time Commercial Vehicle buyer that they are going to require a down payment regardless of your good credit. Is that true.
Did you ever get an answer to these questions? I’d also like to know.
Which authority do I need for box truck?
So upon watching this vid and others when it comes to load board work and the rates, I have yet to see anyone speak about how brokers are using Partials to low ball box truck drivers. Also, I wonder how many days a shipper gives the broker to move their load? There's a very easy way to legitimately get to shippers.
I talked about brokers and low ball partials a long time ago in older videos.
@@BiggVic I'm a look that one up
It is good money in box truck
Yup!! 👍🏾
How do you determine what a load should pay per mile, I have a daycare and a 53 foot dry van ?
Figure out your cost per mile .. Google that one. Too much to type. Or RUclips it!! ✌🏾
What should we look for in percentage then
Anything under 11% is considered good for commercial loans. You can go higher but you'd need to double up on the notes to cut the interest tremendously. ✌🏿
Is there any Load Board Training Available?
I'm releasing a full course this week, any day now!! Be on the look out for it.
Goodmorning can you recommend a good factoring company to get paid quickly
GM I use: Factoring: otrcapital.com/biggvic-connect/
@@BiggVic thank you
Had a question got approved with penske but they want some cash down and interest rate is 17.99% should i try another lender? I am a start up company
About the lowest rate I’ve seen is about 10% that personal credit plays a major part in that rate. I’m also learning just recently talking to a business loan broker that business address vs personal home address makes a big difference unless you are above 750 on the personal side.
What's the best eld to have in a box truck
I don't know, but the most popular is Keep Truckin.
im conflicted on something, i am being told different things about amazon, like do you need three trucks to run for amazon or can you start with just one truck?
Stop watching then bootleg youtubers lol. One truck fam. 5 trucks for contract work if available in your area. Now go hit that subscribe button. ✌🏿😬
@@BiggVic thanks cuz very much appreciated
You know of any good dispatchers that work with new authority
What up
Do I need a factory company for local run? ( box truck)
🤣🤣🤣🤣on the Cherokee
Yo Vic I heard Amazon are leaning towards only dealing with people with 5 trucks or more, is that true ?
No it isn't. They are just offering contract dedicated work for your company if you own five trucks. There is still spot work available for new carriers.
@@BiggVic thank you Vic that shit had me scared lol but I’m just trying to get over the 90days then I’ll branch off
@@domdollar you can still branch off before 90 days
@@BiggVic I’ll book A consultation with you so you can put me D!
@@BiggVic Hey Vic much respect to you bro and what you do my question is would you recommend renting a box truck when getting started in this game with my credit being very poor right now but I'm working on it currently right now cleaning it up that was my question.
19-35% Are they out there mind!!!! That’s for someone who doesn’t know better and is inexperienced and thirsty to just start without doing research!!! Crazy
Please give me some insight
With Amazon can you have 16' box truck an do business or is it only 24' 26'
24/26
is there a market for hazmat box truck loads?
🔥🔥🔥
I'm with Navy Federal too. Thinking hard about about a 20ft. box truck. I'll be financing through them. I already have the money for it but I want to build credit and use some of their money long as the interest rate isn't too high. It shouldn't be though. I have a decent credit score of 766.
What does your song Say? Welcome to my world
Yes!!
On old trucks too? Damn, waaaay too much pimp'n going on 🤦🏿♂️
how do you get a good score on amazon relay?
Run loads that arent as good first.
Yea build your business credit no pg
What you think a 28ft box truck good, or to big. and its a tandom axle one
Unless you have your CDL this truck probably has GVWR above 26000lbs or if under the extra weight of the vehicle might reduce your payload weight capacity
Yes I'm cdl.
There's never a "too big" box truck when you're moving freight. You need as much space as possible.
You would get better rates from local loan shark
Exactly 😁
Whatchu need?
how much are your courses ?
www.sixfigureboxtruckbiz.com
No
Hey fam you’re from Hartford?
Bridgeport
That’s what’s up! Ct. 💪🏾💪🏾💪🏾💪🏾
Amazon Relay just reached out to me and approved me. It’s time I learn this load board and get this bread! I definitely need some pointers from you bro. I have to rent my trucks right now. But it’s good. I just joined a couple of load boards.
Aye Stamford native here
And ware is that program poor credit
50% is illegal, that’s impossible.
I wish I could find a truck for 50K . All these trucks are 80K+.
Yes it's Insane. The demand is nuts. 🤯
Fr
whats the name of financing companies i am looking to get a box truck
You can try Balboa financial
@@BiggVic he didn't watch the live lol
Will balboa approve for a new business for a box truck
With a nice size down payment.
@@BiggVic so tandem is better ?
@@laj121381 They did mine with no money down. In business name and doesn’t report on my personal credit. But I did PG it.