Professional Documents
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Obtaining Semi Trucks, Big Rigs and Over the Road Trucks For Sale With
Financing
There are many alternatives in obtaining semi trucks, big rig trucks and over
the road trucks for sale with financing. Whether you are a start up or a
seasoned business, the first logical place to investigate your financing is at
your local bank. This may be a pleasurable experience if you have many
contacts at your bank but most people usually don't have these types of
connections. The seasoned or fleet operator must have at least mid 600s on
their credit scores and be prepared to go through a long paper process. Prior
year tax returns are required, current personal financial statements needed,
interim financial statements and other banking information pertaining to
your business and personal bank balances are required.
The start up business must have a credit score properly 680 or higher and
will have a much smaller success rate in obtaining bank financing. The
business start up is a much higher risk factor and must adhere to tougher
lending standards than the seasoned or fleet operator. Additionally, the
lender may require that the prospect borrower be incorporated prior to
document submission.
Most banks offer loan and/or lease programs. The difference is that the loan
program transfers title at the end of the payment obligation, whereas the
leasing component offers a rent type environment during the course of the
lease with a buy out option at the end of the lease period to take title.
Usually, the monies required upfront to acquire a loan are higher and
eliminates many candidates. The Leasing arena requires anywhere from
usually first and last payment to approximately 30% down of the acquisition
cost depending on the applicant and the risk factors determined by the
lender. As the economy has become weaker and the risk factors have
become higher, it isn’t uncommon to see up to a 30% down payment
required on a start up situation. Additionally, some lenders will not finance
an over the road truck that is over five years old as well. The standard for
others may be ten years. Other niche lenders may require lower credit
scores, such as 550-650 but their interest rates may range between 20-40%
depending upon the application’s time in business and personal credit
scores.. Once again, the front money can vary from lender to lender.
On the loan and lease programs for a semi truck applicant, the borrower
must investigate whether the bank and/or financial institution considers this
a qualified asset which they will lend on. Most lenders don’t like this type of
asset, they consider it high risk and would prefer to lend on more traditional
type assets like bulldozers, dump trucks, excavators etc. Other niche lenders
specialize in other industries such as transportation only which may include
limos, limo buses, ambulances and over the road trucks as described here.
Loans and leases usually run anywhere between 36 -60 months based upon
the age of the semi truck.
The semi truck applicant is seeking a relationship with the lender no matter
whether it is a start up or seasoned business. The front money to commence
the lending vehicle, the monthly payments and the buyout clauses at the
end of the lending instrument, if there is one, is paramount in making a
prudent business decision. The amount of paperwork and hoops to jump
through to get to end of the financing process must be considered in the
total evaluation process.
Happy hunting for your over the road truck and its related financing.....
www.cclgequipmentleasing.com/semitrucks.htm
http://www.scribd.com/doc/24707794/Semi-Trucks-Big-Rigs-Over-the-
Road-Trucks-Tractor-Semis-Work-Trucks-Financing-Programs-Update-Used-
and-New
86" Studio Sleeper; C15 Caterpillar Engine 475 hp; Diesel; 575,000 Miles; 10 Spd OD; Engine Brake; Air
Ride Suspension; 3.55 Ratio; 24.5 Tires; All Aluminum Wheels; 256" WB; Tandem Axle; 12,000 # FA;
40,000 # RA
2004 KENWORTH T2000.. ..LOCATION.. PA ..
75" Aerodyne Sleeper; C15 Caterpillar Engine 475 hp; Diesel; 545,000 Miles; 13 Spd OD; Engine Brake;
3.55 Ratio; All Aluminum Wheels; 12,000 # FA; 40,000 # RA
2003 KENWORTH T600B.. LOCATION.. NEW JERSEY..
LOCATION..PA….SALES PRICE….$17,995
70" Raised Roof Sleeper; Series 60 Detroit Engine; Diesel; 758,142 Miles; 10 Spd OD; Engine Brake;
3.70 Ratio; 22.5 Tires; All Steel Wheels; 232" WB; Tandem Axle; 12,000 # FA; 40,000 # RA;
2003 KENWORTH T2000…LOCATION.. FLORIDA..
70" Condo Sleeper; C15 Caterpillar Engine 475 hp; Diesel; 760,000 Miles; 10 Spd OD; Engine Brake;
3.55 Ratio; 22.5 Tires; All Aluminum Wheels; Tandem Axle; 12,000 # FA; 40,000 # RA
2005 KENWORTH W900…..LOCATION..FLORIDA…
SALES PRICE $38,000 .. SPECIAL FINANCING
72" Double Bunk; ISX Cummins Engine 550 hp; Diesel; 740,000 Miles; 10 Spd OD; Engine Brake; 22.5
Tires; Aluminum Wheels; 240" WB; Tandem Axle; 12,000 # FA; 40,000 # RA;
2005 PETERBILT 379……LOCATION…FLORIDA…
SALES PRICE..........$17,600
Year.........2003..................STOCK NUMBER........13079
Make........FREIGHTLINER SEMI
Model........COLUMBIA
Engine..................DETROIT 60 SERIES.. DIESEL
Horsepower........430HP
Transmission.........10 SPEED
Mileage..........536,649
Hours...........N/A
FAWR.........12,000
RAWR..........40,000
GAWR............52,000
FUEL TANK.............DUEL 100 GALLONS
SUSPENSION...........AIR RIDE.
TIRES .......FRONT........ 295R75R22.5
TIRES........REAR.........295R75R22.5
WHEELS............ALUMINUM
WHEEL BASE......................258"
COLOR.......WHITE
LOCATION ....MISSOURI
Year.........2003..................STOCK NUMBER........12996
Make........Kenworth Semi
Model.........T2000
Engine..................Cat C-15
Horsepower........435HP
Transmission.........13 Speed
Mileage..........604,084
Hours...........N/A
FAWR.........12,000
RAWR..........40,000
GAWR............52,000
FUEL TANK.............DUEL 100 GALLONS
SUSPENSION...........AIR RIDE.
TIRES .......FRONT.........295/75R22.5
TIRES........REAR.........295/75R22.5
WHEELS............ALUMINUM
WHEEL BASE......................247"
COLOR.......DARK BLUE
LOCATION ....MISSOURI
SALES PRICE..........$13,200
Year.........1999..................STOCK NUMBER........5412
Make........FREIGHTLINER SEMI
Model.........FLD132
Engine..................DETROIT 60 SERIES.. DIESEL
Horsepower........500HP
Transmission.........SUPER 10
Mileage..........535,239
Hours...........N/A
FAWR.........12,000
RAWR..........40,000
GAWR............52,000
FUEL TANK.............DUEL 120 GALLONS
SUSPENSION...........AIR RIDE.
TIRES .......FRONT........11R24.5
TIRES........REAR.........11R24.5
WHEELS............ALUMINUM
WHEEL BASE......................285"
COLOR.......DARK BLUE
LOCATION ....MISSOURI
SALES PRICE..........$16,500
Year.........2002.................STOCK NUMBER........9938
Make........FREIGHTLINER BIG RIG
Model........COLUMBIA
Engine..................DETROIT 60 SERIES.. DIESEL
Horsepower........470HP
Transmission.........13 SPEED
Mileage..........727,968
Hours...........N/A
FAWR.........12,000
RAWR..........40,000
GAWR............52,000
FUEL TANK.............DUEL 140 GALLONS
SUSPENSION...........AIR RIDE.
TIRES .......FRONT........ 295R75R22.5
TIRES........REAR.........295R75R22.5
WHEELS............ALUMINUM
WHEEL BASE......................265"
COLOR.......WHITE
LOCATION ....MISSOURI
SALES PRICE..........$15,400
Year.........2000.................STOCK NUMBER........5704
Make........FREIGHTLINER OVER THE ROAD TRUCK
Model........CENTURY
Engine..................DETROIT 60 SERIES.. DIESEL
Horsepower........430HP
Transmission.........13 SPEED
Mileage..........674,277
Hours...........N/A
FAWR.........12,000
RAWR..........40,000
GAWR............52,000
FUEL TANK.............DUEL 100 GALLONS
SUSPENSION...........AIR RIDE.
TIRES .......FRONT........ 275/80R22.5
TIRES........REAR.........295/75R22.5
WHEELS............ALUMINUM
WHEEL BASE......................258"
COLOR.......WHITE
LOCATION ....MISSOURI
SALES PRICE…..$16,500
Year............2003
Make.............International Semi..
Model.........9900I
Stock #..........10275
Mileage.........485,592
Hours..........15,703
FAWR..........12,000
RAWR...........40,000
GVWR...........52,000
Color............White
LOCATION.......MISSOURI...
Sales Price……$16,500
Year..........2002
Make.........International
Model........9200I
Stock #..........5313
Mileage.........588,120
FAWR..........12,000
RAWR...........40,000
GVWR............52,000
Color..........Black
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