So I have decided to set up a long term plan (2-3 years) to build credit and relationships to buy a semi truck. Since almost all banks and cu will not do a secured auto loan (truck as collateral) on a class 8 truck from what I've researched, and the "specialized" truck financing companies seem to be a joke, I'm thinking a personal loan is the way to go.
My goal will be financing 25-30k for this purchase.
Currently building my credit i don't have a fico right now but I'm on track to get it going. Have 3 revolving credit lines and will be doing a ssl soon. My income right now is around 40k with zero debt. Household income is around 60k. We have a mortgage and auto loan neither have my name on them.
My question is should I open savings or checking accounts now to start a relationship for when I go for the personal loan? If so what are some good suggestions? I currently only bank at Simmons first.
Also what should my credit score goal be when I'm ready to apply? I'm not sure how my income will affect my standings since it will increase around 30-50%(after expenses) after the truck is rolling.
