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Request for Best Bank / Credit Union For Truck Loan

Discussion in 'Trucker Taxes and Truck Financing' started by TowNHaul, Sep 27, 2021.

  1. Sep 27, 2021 #1
    TowNHaul

    TowNHaul Bobtail Member

    22
    3
    Sep 11, 2021
    0
    Hello,

    I see a bunch of information on various companies posted who finance new drivers / do purchase-lease agreements. However I don't see any posts on any banks or credit unions that do commercial truck loans. Can anyone share the following? -

    1. Banks / Credit unions that you used for New truck purchases
    2. What were the interest rates that you secured for your deal
    3. Did you apply as personal or business

    Thank You
     
    TowNHaul, Sep 27, 2021
    TowNHaul, Sep 27, 2021
    #1
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  3. Nov 5, 2021 #2
    Carolina Dreamer

    Carolina Dreamer Light Load Member

    56
    84
    Jul 30, 2020
    Summerville, SC
    0
    Good luck, financing is a minefield in this industry. If you are interested in Business bank products and customer reviews I recommend checking out myfico.com forums.
     
    Carolina Dreamer, Nov 5, 2021
    Carolina Dreamer, Nov 5, 2021
    #2
    Stonehjl, Roadgeek395, 4wayflashers and 1 other person Thank this.
  4. Nov 5, 2021 #3
    Short Fuse EOD

    Short Fuse EOD Road Train Member

    2,390
    7,408
    Jul 29, 2015
    Midwest
    0
    New truck paccar financial personal 5%, new reefer trailer BMO commercial loan 8%
     
    Short Fuse EOD, Nov 5, 2021
    Short Fuse EOD, Nov 5, 2021
    #3
    BizzyBee213, TowNHaul and 4wayflashers Thank this.
  5. Dec 12, 2021 #4
    pittscotrucking

    pittscotrucking Bobtail Member

    10
    6
    Dec 12, 2021
    0
    I went direct through my credit union for 5%
     
    pittscotrucking, Dec 12, 2021
    pittscotrucking, Dec 12, 2021
    #4
  7. Dec 22, 2021 #5
    Harman2000

    Harman2000 Bobtail Member

    2
    2
    Dec 21, 2021
    0
    Avoid big banks. Recommend first citizens bank
     
    Harman2000, Dec 22, 2021
    Harman2000, Dec 22, 2021
    #5
    Bret1984 and TowNHaul Thank this.
  8. Dec 25, 2021 #6
    jgarciajr40

    jgarciajr40 Medium Load Member

    603
    813
    Jun 18, 2016
    0
    Suncoast credit union starts at 3% 72 months.
     
    jgarciajr40, Dec 25, 2021
    jgarciajr40, Dec 25, 2021
    #6
    Bret1984, TowNHaul and dwells40 Thank this.
  9. Dec 25, 2021 #7
    Short Fuse EOD

    Short Fuse EOD Road Train Member

    2,390
    7,408
    Jul 29, 2015
    Midwest
    0
    That’s pretty good for commercial equipment.
     
    Short Fuse EOD, Dec 25, 2021
    Short Fuse EOD, Dec 25, 2021
    #7
    dwells40 Thanks this.
  10. Dec 26, 2021 #8
    jgarciajr40

    jgarciajr40 Medium Load Member

    603
    813
    Jun 18, 2016
    0
    It honestly is. I didn’t believe them so I inquired just to verify.

    If I remember correctly there’s a limit in what they’ll buy. Suncoast won’t buy some crazy 400-thousand peterbilt classic.

    they buy a cascadia, pro star, 579, etc…
     
    jgarciajr40, Dec 26, 2021
    jgarciajr40, Dec 26, 2021
    #8
  11. Feb 5, 2022 #9
    TowNHaul

    TowNHaul Bobtail Member

    22
    3
    Sep 11, 2021
    0

    Thanks all for a reply - just following up and wanted to bump the thread. Suncoast & First Citizens although good recommendations, unfortunately only work with companies in their state. If anyone else has any other bank or credit union they've worked with - would appreciate any information you can share.

    Thank You
     
    TowNHaul, Feb 5, 2022
    TowNHaul, Feb 5, 2022
    #9
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