Average Semi Truck Financing rates?

Thru my bank My loan is 3.86%
That’s with over 30 years of doing business with them.
My friend was just financed thru Paccar financial at 7.25% second truck buyer
Younger guy I know was financed thru Daimler with 15% down and 8.75 %
On a $130k truck
Probably not much help but those are the ranges I know first hand.

 

1st time buyer 6% 72mo.

 

"whatever the market will bear"

Loans are a product that is sold, and the interest rate is the price. The price varies with credit worthiness, time in business, down payment, additional collateral, etc, etc, etc.

Even with stellar credit and 20 years in business, I pay close to 5% because I chose to make a small down payment.

 

what bank do you use?

 

is stellar credit above or below excellent? what is your score for this interest rate?

 

690-718 depending on which credit agency. Got the truck financed through Paccar.

 

My credit is in the upper 700’s. Second truck I’ve financed. I’m at 6%.

 

Last I looked, close to 800.

 

Just some advice. If you’re a first time truck owner and are looking to finance it may be advisable not to search for financing through a bank or getting a commercial loan. Financing direct from the manufacturer may be easier with better terms. After you get that in place you may follow up with a commercial loan for another truck or a trailer. Having the business take on the loan versus yourself. That’s just what I did..