# I need proof from the experienced



## younggun86

Because of the economy, i want to show my bank that i'll be able to make atleast what i borrow. i found my plow for 4200 IF they still have one in stock. My friend that plows says i'll make at least 10,000 this winter. I'd like more input than just his. if it makes a difference, my trucks an 04 2500HD and the blade is a 7'6" straight.


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## grandview

They want copies of your contracts. And maybe a personal guarantee for the loan before they give you any money.


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## redman6565

ya and a lot depends on snowfall and how many driveways you have...


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## younggun86

I have zero contracts...i'm supposed to be subbing work this winter from three different companies. all i need to know is what is the least i'll be able to make this winter. i know i'll make something and the good ol' almanac suggests a good winter.


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## grandview

Will this company your subbing for write a letter stating what you'll be making an hour this winter?


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## Mick

The least you could make is less than zero dollars. Believe me, my first winter, I didn't even make enough to pay for the liability insurance - let alone the $3200 I paid for the plow.

Have your "friend" lend you $10,000 in exchange for a guarantee that you'll work for him until it's paid off.


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## Woodland

You don't know "nuthin" if your looking for some kind of guarantee. If you are, find a 9 to 5 job. But, probably what your bank wants is a P&L, budget statement, expected income sheet. Something that will assure them that you plan to make some money from the money they give you. You really don't have any of that and I doubt the company you plan to sub for will be willing to guarantee any income or vouch for you so...you will likely have to take out a personal installment loan. This will be based on your current worth/income from your full time job. They will hold the plow as collateral and you will be personally responsible for paying off the loan.


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## payton

who are the 3 outfits your subbing too. most of the big ones around indy have clauses that u cant work for a competitor and if u do its grounds for default on ur contract.


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## erkoehler

Why go w/ a 7ft 6in plow on a 3/4 ton truck? 

My buddy just picked up a NEW Boss 8ft 6" boss straight plow out the door for $4200.


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## payton

are you not the fella who rolled up north with ur gf to shovel snow? and didnt make a dime?

payton


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## RepoMan207

Have you plowed before? You may want to re think your strategy in the financial department, and maybe just get a regular collateral loan....if you can. Banks are tight who they are lending to these days. My first wrecker was a used POS worth only $10k, bank wouldn't touch me with a 680 fica score unless I could prove I had been in he industry for atleast 5 years, and have two contracts in hand. That was in January......Can you imagine what is now after two major bank bail outs?


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## payton

wow i just bout went ape **** when i saw the last name post.. bad memories..


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## exmark1

payton;630405 said:


> wow i just bout went ape **** when i saw the last name post.. bad memories..


I have caught myself doing that a few times too...


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## RepoMan207

hahaha, Gee I havn't got the reaction before.....


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## RepoMan207

Hey, I got some paintings I could sell ya if you want.


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## tom_mccauley

payton;630405 said:


> wow i just bout went ape **** when i saw the last name post.. bad memories..


NOT the same repo!!!!!


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## RepoMan207

Well thank you Tom.


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## tom_mccauley

No problem!!!


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## RepoMan207

We did the dance before huh. :waving:


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## payton

tom_mccauley;630417 said:


> NOT the same repo!!!!!


yeah i realize that. but looking from the expanded view of the forum last poster repoman i wasnt really paying attention till i opened the thread back up and realized it wasnt the same ..

payton


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## tom_mccauley

payton;630430 said:


> yeah i realize that. but looking from the expanded view of the forum last poster repoman i wasnt really paying attention till i opened the thread back up and realized it wasnt the same ..
> 
> payton


Don't feel bad, I did the same thing!!!!


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## cet

We beat that horse about a month ago, lets not do it again.

I agree the plow is too small. The weight goes up very little when you add 6" or a foot.

Do you have a minimum from these companies? If so get it in writing and take it to the bank. 10,000 would be hard working for just 1 guy here.


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## payton

10k profit for this area for a single truck.. would be hard pushin.. roughly 65/h around here.
so if u takethat in to consideration thats roughly 154 hours pushing thats with out any breakdowns. and not taking any consideration for fuel food etc..

payton


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## younggun86

Woodland- I knew from the start that's the route i'd be taking. i just need some leverage since my bank is on the smaller side. plus i'm a part timer hince why i'm jumping on the snow removal bandwagon. ( i do understand why people hate people like me but i have the truck and i need to make ends meet quick IE the random interest hike on my credit card.) 

erkoehler- I've been told 8'6" is too much of a blade for a 3/4 ton. if so i'll wait until my friend's Vblade is out of probate. 

I'm going to the bank today even though a wise old man said it's better to do business midweek. It'll be about noon since i just got off work. Thanks for everyones input.


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## scottL

I think taking a load like this is quite risky.

If you have not plowed before - get behind someone else's truck to start. A home equity loan may be better rates. 

Do you have a regular job with consistent income? The banks are actually asking questions these days for obvious reasons. 

As for being a sub .... Hours could really vary. Last year 80-100 hrs for the chicagoland was considered low where as 250hrs was high but, it depended greatly on your companies trigger number. Plow rates start from $45 on up to $95 an hr.

The best you can get from a plow company is maybe; number of accounts, projected hours to plow accounts and a statement that you have a working position if you have the equipment. Then you need to dig up the last few years worth of dates for snow storms the help project expectations. What your building is a business plan.


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## younggun86

That 10K figure was just thrown at me. i'm not trying to hit that number. my number to hit is 4200. I'm a full time college student/ part time worker. I still live with my dad only because he lets me and it lets me do what i do. The hourly rate being thrown around here is 60-75 an hour. if i make less...woo hoo. money is money and as long as i can pay for the plow, i'm good. as far as triggers, all i've ever heard is 2". I plowed twice last year for a total of about 6hrs with a guy who's been at it for 16+ years. I'm young but don't you dare call me stupid.


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## Mick

Let us know how it works out. Use this thread, so (at least I) get an email about it. Given the drastically changing economic outlook, I'll be interested to see if you can get a consumer loan for a plow, given your background and experience.


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## tuney443

Younggun--you say in your first post that you want to show the bank some proof.From a bank's standpoint,that won't cut it.There are no guarantees in life--you could show them 1,000,000 in contracts,impressive sure,but you could die tomorrow.Then what.All you need to do is use your plow and/or truck as collateral.That will satisfy the bank's security interest.If your bank is too small,move on.


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## scottL

Well now we know a little more.

Being a young buck with no property and in college .... Do you have a credit card, cell phone, truck payments or title to the truck. These are things they will look at too. Can you craft a clear and thoughtful persuasive paper / business plan to present to your dad as an investment on his money maybe 4% interest. Maybe expand your credit card..... 

Don't post details back ... I'm only throwing out some ideas for you to consider.


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## younggun86

well for all who are interested, i got shot down before i even asked. she saw the paper with a plow on it in my hand and they aren't "stable" enough to risk those types of loans at this time yada yada yada. so plan B is in action which should take the next few days to hear back from. If not, plan C is the rich guy who owns a ton of storage properties. or if some kind person would like to take me under his wing and buy the plow for me and we'd have a work agreement untill said value is returned in the form of labor....


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## Mick

Thanks for keeping us posted. Let us know how it works out.


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## Woodland

Maybe check with one (or all) of the three companies you were going to sub for and see if they can hire you to drive one of their trucks (or god forbid work on a shoveling crew)


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## stroker79

Young- first you say that you need to plow to make ends meet then you say that you just need to pay off the plow and thats all you care about to pay off. Just my observation but Fuel is going to pretty expensive as well as any other expenses. I wont get into the ins thing. IMO it sounds like you just want to plow, which is fine but it sounds like you are looking to take any risk out there to get a chance to plow in your truck. I really would wait a few seasons and work for someone else, just think about all the extra wear and tear your saving from your truck.


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## IPLOWSNO

i would say sell the truck, throw your credit card away,pay your bills, stop incurring bills, lol and be all you can be at your day job imo


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