Interest on used truck loans..

Discussion in 'Trucks and Trailers' started by mrusk, Apr 22, 2007.

  1. mrusk

    mrusk LawnSite Gold Member
    Posts: 3,260

    What percentage is the going rate for loans on used commercial trucks? I know i will get approved for whatever i go for, credit score is a non issue. I just want to figure out what a truck will cost me a month.
     
  2. FearThisDeere

    FearThisDeere LawnSite Bronze Member
    Posts: 1,168

    On mine I'm paring 8.9%, but that is high because it is through Ford.
     
  3. RedWingsDet

    RedWingsDet LawnSite Gold Member
    from Detroit
    Posts: 3,556

    Mine is 4.9 but that is through a credit union. Good luck and try a credit union.
     
  4. grassmanak

    grassmanak LawnSite Senior Member
    Posts: 792

    you can get as low as 1.9 on a certified GM
     
  5. tthomass

    tthomass LawnSite Gold Member
    from N. VA
    Posts: 3,497

    My loan through BB&T is 10%...........my credit is clean there just wasn't a lot of credit in the business at the time + a new business.

    Once the credit is higher I may take out another loan at a lower rate. The debate now is to pay off the truck but I think I'm just going to drag out the payments for a while to build more credit so that I may purchase more things in the future with more ease.
     
  6. Scag48

    Scag48 LawnSite Fanatic
    Posts: 6,067

    My bank is right around 6% for auto loans I believe. I took a personal loan for the business at 8%.
     

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