![]() ![]() Our experts have been helping you master your money for over four decades. ![]() So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. Our editorial team does not receive direct compensation from our advertisers.īankrate’s editorial team writes on behalf of YOU – the reader. We maintain a firewall between our advertisers and our editorial team. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We do not include the universe of companies or financial offers that may be available to you.īankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. But this compensation does not influence the information we publish, or the reviews that you see on this site. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. The offers that appear on this site are from companies that compensate us. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.īankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. If that truck payment doesn’t come in on time, even with the most sincere excuse, they’ll send out a repo man.We are an independent, advertising-supported comparison service. They’re not like a landlord or mortgage company who might let a tenant or homeowner get a month behind because it’s cheaper than evicting or foreclosing. These lenders have put their own money on the line, and as soon as you give them reason to believe their trust in you was misplaced, they will look to prevent a loss. If you get behind on your payments, the lender is going to repossess the truck and keep the deposit for their trouble - yes, even if it was $15,000, you only had the truck for a month, and you were only a few days late.ĭON’T BE LATE ON YOUR TRUCK PAYMENTS. If you want to to get a loan for a $50,000 truck and you qualify for a 30% deposit, you’re going to have to pay $15,000 and the lender will put up the other $35,000. Everyone else is going to be in the 10% – 30% deposit range, with tougher credit histories paying higher deposits. Lenders advertise rates such as “no money down” or “as low as 0% deposit.” These are for people with solid credit and no negative marks in their history. Getting real: what to expect from a loan and a lender Credit histories with past due child support, tax liens, and vehicle repossessions are harder to get financed, but even with those negative marks there are companies on the list below who will welcome your business. Typically, we’re talking about small agencies who specialize in lending for commercial vehicles of all types, such as trucks and trailers (trucking), vans and box trucks and sprinters (local delivery), tractors and combines (agriculture), dump trucks and excavators (construction and mining).Įverybody starts somewhere, and loans for eighteen-wheelers for first-time owner operators and startup trucking companies are offered by every company on the list below.īecause these agencies are often working with their own money, they can get much more creative in who they lend to, even providing loans to those with recent bankruptcies. However, this doesn’t mean that semi truck financing is hard to get - you just have to talk to the right companies. Financing for semi trucks: easy if you know where to look Even banks that advertise their services to small businesses typically refuse to finance trucking companies - trucking has a notoriously high failure rate for new businesses, and banks don’t like risky investments. Loans for a commercial truck and trailer are different than a typical auto loan for a personal vehicle your local bank won’t offer them. Skip ahead to the list of financing companies or quote request form or loan payment calculator ![]()
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