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View Full Version : Whats a good interest rate for used truck?


shovelracer
01-14-2008, 05:08 PM
I found a beautiful used dump with low miles and Im seriously thinking about it. Havent driven it yet so not 100% on it. Anyways what are the typical going rates for used commercial trucks. Id probably finance around 30K. I have impeccable credit and can easily show repayment ability. Any suggestions as to a good company, who to stay away from, etc is appreciated. Thanks

AtoZ
01-14-2008, 05:46 PM
Go to your local bank or credit union. I just financed a new dump truck at my local credit union for $43,000. The rate was 6.35% @ 72 months. That's assuming good to excellent credit. 0% down due to enough equity.

grassmanak
01-14-2008, 06:40 PM
you can get as good as 1.9% at some dealers

Az Gardener
01-14-2008, 07:26 PM
Go to your local bank or credit union. I just financed a new dump truck at my local credit union for $43,000. The rate was 6.35% @ 72 months. That's assuming good to excellent credit. 0% down due to enough equity.

I got a similar deal at my credit union. I had to contact the commercial loan dept though because of the size of the truck. It was a 06 UD cab over 14" dump bed with pull tarp, less than 5-K miles 32-K I paid the T & L.

The 1.9 type rates is for new only I believe.

AtoZ
01-14-2008, 07:38 PM
To get low interest financing you have to give up any rebates that may be involved from the manufacturer for your particular model year. Do the math and see which is better - low interest rate or a fixed rate from your bank... I have the low interest rate on two vehicles and a fixed rate from my credit union on two other vehicles.

ZX12R
01-14-2008, 08:04 PM
I think credit unions have the best rates.Mine is offering 6.0 % for 72 months on a new vehicle. Used vehicle rates are listed below.

2006........6.0`% up to 66 months
2005........6.5 % up to 66 months
2004........7.5 % up to 60 months

shovelracer
01-14-2008, 08:13 PM
Yeah 1% either way doesnt really make the deal. Paying 6% new or 7% used doesnt make the new look very good. The last vehicle I bought was at 0.1% for 60. Kinda hard to go from that to 6%. Thanks for the advice.