Can I take a loan for a truck I need for work?
Salaam everyone. I’m in a tough spot and need some help.
I do landscaping and small hauling jobs, and my old truck is basically done. It has over 200k miles, keeps breaking down, and I’ve already had to turn down a few jobs because I couldn’t rely on it. I don’t need a new luxury truck or anything, but I do need something dependable enough to carry equipment and get to job sites.
The problem is almost every realistic option I’m seeing is a normal auto loan with interest. I’ve looked at used trucks, but even decent older ones are expensive now, and paying cash would wipe me out. Without a truck, though, my income takes a real hit.
how do people think about this? Is it still just clearly something to avoid because it’s an interest-based loan, or does the fact that it’s directly tied to earning a living change how people approach it?