Is the bank loan Worth it?

[Xíq™ ☣]

Im a new player, only playing a few hours have around 30-40k already only lvl 5. Just wondering if its worth it to get 100k loan and get a starter truck for missions instead of company trucks?

Is it worth it?

[blewberry]

ABSOLUTELY!

But, remember to pay off loans with cash before taking more out. This will enable you to build and grow your fleet MUCH faster.

Good luck!

[Xíq™ ☣]

Cheers for the fast reply!

[BCS]

It's all up to you, what you deside or how fast you want to make real money. If you have your own truck you will make more money, but if you take a bank loan you also have to repay it and you shall really make money to do that if you want to earn some too. I did that i saved money up for my first truck and buy a cheap Scania R360 and then i upgrade it when i had money to do it as i leveled up. I am now in level 62 with 40 mill on my account and i got 60 trucks and I drive the same Scania but upgraded to a Scania R500 Topline. The choice is yours, I just tell you how I made all my money and get my company up where it is today. I now make more money than i ever can use.

[5n4k3d0cToR]

Personally i like to pay for everything with money i have/have saved (just as in real life), so bank loans are a no go for me to help with expansion.

[blewberry]

Leverage is your friend, when you learn what it is, and how to use it. %1 advice.

[Xíq™ ☣]

Thanks all for your replys, I've taken the loan, Got myself a starter truck and Have already Paid the loan back. Thanks Again - No Regrets.

[Thogmar]

Originally posted by ChodaGirl:

ABSOLUTELY!

But, remember to pay off loans with cash before taking more out. This will enable you to build and grow your fleet MUCH faster.

Good luck!

And you've proven that how? Just curious. By getting max loans, you can have more drivers working sooner, and leveling up sooner, tharefore getting more higher paying jobs sooner. Since the debt has no impact on income ability, and even being in the red doesn't affect income, I'd like to know if you have some different informations.

If the game forced you to sell off trucks or garages to satisfy debt service, or applied interest rate increases as penalties (which would be cool) then paying back debt sooner would make a difference.

TL;DR - Borrow as much as you can as soon as you can, hire as much as you can. The debt will automatically get repaid as you get more income, there's no time limit or penalties.

[DAVE]

Its 100% worth it in game as it is in real life to use finance to help a business grow faster. The difference in game is that the business model is 100% sound and the work for the business is 100% guaranteed - few real life business' ever find themselves in that position.
Borrow to the max - but at level 5 do it ONLY to expand the business - not for fancy trucks and upgrades.
My tips are buy basic trucks, no upgrades - run that truck until your in a position to buy another basic truck - DO NOT TRADE trucks in or upgrade after purchase as its a guaranteeed lossmaker. Use Relocate to move the truck to a garage slot and get a driver employed to earn from it. Then buy your new basic truck and do it again. Once you get say 5 large garages youll find your earning enough to buy a newe truck every couple of ingame days.
Get above that and then you very quickly get to a point where you can easily buy new garages and put trucks and drivers on the road.
At about this point you may choose to buy a garage and NOT employ drivers but start to fill it with nicely upgraded trucks which, by now you can afford to upgrade and loose on whenevr you want - but again it makes more sense to pass trucks onto drivers than trade them in and take a loss.
I've started new profiles a few times and have found the above ealry level grind to maximise income to be the best way to get to where you can have trucks with all teh whistles and bells.
My current best profile has 140+ drivers and 40+ garages, but I can't get more drivers because the Recruitment agency is exhausted so I buy garages, upgrade to large for cheap fuel and quick travel to them - I've started relocating one driver and truck from other full garages to the new ones now - ok so its not good business sense but with over £40 million in the bank at all times and another £7 million a week or so coming in I can buy all the upgraded trucks and garages I want - I've even started upgrading ALL my Drivers trucks to top spec now as I go just to spend the money, and they all carry the company paint job/colours that I decided on. on that profile I have still NEVER traded in a truck the very first Renault premium I bought at day one is still there working away, although its got upgrades and a nice paint job now. I want to see how long it will go on for before something changes - maybe forever, who knows!
Anyway thats how I now choose to play the game, no one has to follow it - after all its your game to play as you want, have fun!

[DAVE]

Originally posted by HeavyLift:

Originally posted by ChodaGirl:

ABSOLUTELY!

But, remember to pay off loans with cash before taking more out. This will enable you to build and grow your fleet MUCH faster.

Good luck!

And you've proven that how? Just curious. By getting max loans, you can have more drivers working sooner, and leveling up sooner, tharefore getting more higher paying jobs sooner. Since the debt has no impact on income ability, and even being in the red doesn't affect income, I'd like to know if you have some different informations.

If the game forced you to sell off trucks or garages to satisfy debt service, or applied interest rate increases as penalties (which would be cool) then paying back debt sooner would make a difference.

TL;DR - Borrow as much as you can as soon as you can, hire as much as you can. The debt will automatically get repaid as you get more income, there's no time limit or penalties.

I think that it meant that sometimes paying back can unlock a higher loan value (lower interets rate) and keeping the loan repayments manageable.

Eg, I have three 100k loans running one has 80k, one 50k, one 30k left to pay. I have 60k in cash and am repaying say 3k per day on each loan. I can borrow a total of 400k so the bank will allow me another 240k (400-80-50-30). I want to buy a new garage and trucks.
If I take the full 240k in 2 x100 and 4 x 10k my repayments on this are :
old 80k - 3k
old 50k - 3k
old 30k - 3k
new 100k - 3k
new 100k - 3k
new 4x10k 1k
= loans owed to bank of 400k (80+50+30+100+100+40)
= 16k per day repayments bank balance 60k + 240k = 300k

OR i can do this :
60k I have in bank repay 50k loan = 10k in bank
take a new 100k loan = 110k in bank
REPAY 80k and 30k loan = 0 in bank
Take a big loan at lowerr interest and lower payemnts (5K per day) 300k
= loans owed to bank of 400k (100 + 300) same as above
= 8k per day repayments (half of above) bank balance 300k same as above

so as you can see I have halved the loan repayment by simply restructuring my borrowings, meaning that I can use that 8k per day to faster expand the business. This is actually more realistic than just taking loans out, as getting the financing of a real business can be critical to its future existence.

[russy23]

i was taking loans out until recently, it helps alot buying garages and trucks, now ive got 15 workers, 10 of whom are pulling in decentish cash i shudnt need another loan..