1. Thank you for visiting HeavyEquipmentForums.com! Our objective is to provide industry professionals a place to gather to exchange questions, answers and ideas. We welcome you to register using the "Register" icon at the top of the page. We'd appreciate any help you can offer in spreading the word of our new site. The more members that join, the bigger resource for all to enjoy. Thank you!
  2. ALL NEW MEMBERS READ THIS FIRST!! Thank you for joining Heavy Equipment Forums! If you are new to forums we communicate with "Threads", please search our threads to see if your topic may have already been answered and if not then click "Post New Thread" in the appropriate forum. This will allow all of our members to see your question and give you the best chance to be answered. After you've made a number of posts you will graduate to Full Member status where you'll see a few more privileges. Following these guidelines will help make this the best resource for heavy equipment on the net. Thanks for joining us and I hope you enjoy your stay!!

Banks won’t finance older trucks

Discussion in 'Financing' started by 4seasons, Nov 3, 2018.

  1. Shimmy1

    Shimmy1 Senior Member

    Joined:
    Aug 14, 2014
    Messages:
    2,783
    Location:
    North Dakota
    In most cases, a lot MORE. :D
     
    farmerlund likes this.
  2. JPLUMMER

    JPLUMMER Member

    Joined:
    May 18, 2016
    Messages:
    5
    Occupation:
    EQUIPMENT FINANCE
    Location:
    Indianapolis, IN
    If you have excellent credit your rate should be somewhere around 6-7% right now. Some local banks and credit unions are still giving 4-5% rates but that will soon disappear with the fed raising their rates. There are some other factors that can effect the rate as well.
     
  3. JPLUMMER

    JPLUMMER Member

    Joined:
    May 18, 2016
    Messages:
    5
    Occupation:
    EQUIPMENT FINANCE
    Location:
    Indianapolis, IN
    If the truck has a little over that 750,000 mile mark and the deal makes since we would consider without the overhaul. Typically, we would want to make sure that the customer would have the resources to rebuild the motor if that were to come up.
     
    Shimmy1 likes this.