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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:
    2,664
    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.