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Used commercial truck financing

Discussion in 'Trucks and Trailers' started by TPS, Dec 27, 2008.

  1. TPS

    TPS LawnSite Senior Member
    from NJ
    Posts: 363

    Anyone have any good sources or suggestions for financing a used commercial truck? Not sure if theres banks that specialize in commercial or not. So just looking for suggestions before shoppping my local banks. Thanks in advance.
  2. I would try your local bank.
  3. AI Inc

    AI Inc LawnSite Fanatic
    Posts: 25,386

    I bought a used ford from a dealer a few weeks ago. They set me up with a local credit union as it was a lower rate then ford credit wanted.
  4. Az Gardener

    Az Gardener LawnSite Gold Member
    Posts: 3,899

    I would suggest a credit union too. They usually have commercial loan divisions but thy don't advertise much and to be honest I have found the people to be inexperienced on the vehicle side of things. It certainly is not a easy as walking into a dealership where they handle everything in a couple of hours but well worth the time invested.

    That is how I have purchased my last 2 vehicles and I have saved a bundle. Low rates and no sales tax here in AZ when buying from a private party. They let you purchase up to 5-yr old vehicles and they loan up to 80% of blue book. I got pre qualified for an amount then went shopping. My last rig was a 04 Fuso cab over dump truck with about 30-K miles for 20-K out the door, it was a diesel too. Check credit unions.
  5. TPS

    TPS LawnSite Senior Member
    from NJ
    Posts: 363

    Thanks for all the tips. I'll look into a credit union and see what they have to offer. Thanks again.

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