Truck Financing?

FlameMerc · Dec 10, 2005

I'm looking at a newer truck and haven't talked to any banks yet. My question is, because of the high prices on newer trucks,can you finance one like a Motorhome? (10years)

The one I'm looking at has a 102" ICT sleeper with toilet /Shower and all the rest of the goodies. It's a 20' Box. It's a 2004 Pete 357 with a C13 425hp Cat,and a 10 speed. Has Tag axle Lift Gate/Load Jack/GenSet. It has it all. But it also has a Big price tag, and I don't know yet how much they will give me for my truck. I will keep you posted when I get more info. Thanks ...Butch

Broompilot · Dec 10, 2005

You asked so I can answer but before I do, you are really throwing me for a loop here. First you want to move to AZ than your considering getting rid of one of the nicest trucks I have ever seen and going deep into debt? After what you told me you paid for th T-300 that was one of the best buys EVER. Its none of my business but on both items I hope you think this through.

Now for your financing question its not brand new? They will probably only go max 7 years. The most on a class 7 I found with a reasonable intrest rate was 6 years if I wanted more the rates rose. The longer the term the higher the rate will be.

I am sure your credit is excellent, expect anywhere from 6.75 to maybee 8 depending the lenght. I am refiancing mine from 8 to 6.75 in two more weeks.

FlameMerc · Dec 11, 2005

OK BroomPilot, I answerd the AZ Move, in my other post. The wife isn't buying it. I would really love to move out there,but her roots are to deep here in MI. As far as the truck. Yes it is a very nice one with one exception. The Sleeper has no Creature Comforts. It's very hard for me to stay out for any long period of time in this sleeper. The Sleeper is a Bare Bones sleeper. Not even an Inverter.

I have to buy ice every day to keep my drinks cold. Looks kind funny walking out of a truck stop in the middle of a Snow Storm with a bag of Ice. LMAO
Meals in a resturant usally run $10.00 With a tip. You are good at numbers. How much food can I buy with two meals a day for a month?

I have looked into GenSets, Fridges,Microwave and cabinets. A new Real matress,not a piece of foam rubber. It all come to well over $10,000. I think with the 10K and my truck as a trade, I could find a Unit with all the Comforts I need. Maybe not. I am still looking at trucks and also at upgrading mine.

I understand fully what you are saying about going deep in debt. I don't plan on getting a New Truck, but I was looking at one with a big price tag and decided against it. I really appreciate your concern and will listen any idea's from all. I have been at this since 1999 and I'm still learning. Thanks...

Happy Holidays To All
Butch

davekc · Dec 11, 2005

The truck you are talking about is in AR....correct.
At $125,000, you will struggle to find a bank that will finance it without a sizable down payment.
There are exceptions of course, but they will likely involve a solid relationship with a bank.

Davekc

DannyD · Dec 12, 2005

>I have to buy ice every day to keep my drinks cold. Looks
>kind funny walking out of a truck stop in the middle of a
>Snow Storm with a bag of Ice. LMAO

Hiya Butch,

I got a good laugh out of the above. Having a house in Flint, I can understand your desire to locate in a nicer city. I don't hate it or have any negative thoughts, but in our job we see a lot of nice places & I can see where there's a desire to move. Factor in the weather & moving becomes even more appealing.

As for the financing aspect of your truck, it might be tough to get a 10 year loan. Also, ya might want to consider how long the company will allow your truck to be on the road. For instance, if your company will allow a truck that's 7 years to be signed on w/ em & you're buying a truck that's 3 years old, ya might want to hold off on financing anything for more than 4 years.

Best of luck to ya,
Danny

highway star · Dec 12, 2005

Danny, most likely he would be able to keep the truck on as long as he wanted. As far as I know, FedExCC is the only company that has come up with arbitrary numbers to decide when it's time for a new truck. Most will let you keep going as long as breakdowns are not an issue. I've seen some serious POS vans on with CTX.

FlameMerc · Dec 12, 2005

Thanks Guys, About the Relocation. Yes in this Business I have seen some awesome places to live. Not much of a Winter Fan anymore. I guess I'm getting Old. LOL.

I have deciced to go ahead and upgrade my Truck. Express-1 doesn't have a year cutoff that I know of. I think it will pay off in the long run. I really Like my truck anyway. Just thought it would be easier to buy another.

I have been looking for a while now, and I have to say that I haven't found any truck I like under $100,000. Soooooo, the smart move is to keep mine and invest in the Creature Comforts I need. If I work it right, my truck will be paid for by this time next year.

I'm waiting as I write this, for a call back From Ray at Espar. I'm going with the Rigmaster. Then I will install Fridge/Micro/TV/VCR myself. Cabinets from Lowes should work also. I do need to buy a real innerspring Mattress. Not sure where to get one at. Well thanks again to all.
Happy Holidays
Butch

Dynamite 1 · Dec 12, 2005

go to the local furn/matress store and ask some ? or just go online and search for custom mat. there are several co. out there that will make one to your specs. bemco matrass co is one that we use to deal with all the time when i was in the furn. bus. they make a quality mat. at a reasonable price.