Truck Financing Questions ?

I filled in the blanks on the "need a lender" form on The Truck Paper, and literally within 5 minutes I had no less than 20 lenders and brokers emailing and calling my cell, ive one got one guy who is supposed to be talking to a bunch of lenders for financing a 2009-10 389 Pete with a flat top sleeper and a two line wetkit @55K..... but Im starting to think the guy i picked is a #######
he keeps asking me same questions over and over again, then asks me if want a day cab........sigh

 

thanks man!!!

 

YW

 

What is the name/website of your company?

 

MartyCAG
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49, from Newark, DE
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Any updates on how the market is for first time o/o's getting financed for trucks in 2018? Has the game changed at all from the start of this stickey or last post in 2015? Interests rates, credit requirements. Will10k down on a 50k truck with 750 credit having you licking your wombs or will you actually get a decent finance?

 

I know this is a old post but I attempted to buy a truck a little over a month ago from a dealership in Bakersfield. Excellent credit score. My MC has been active since 2001, my CA motor carrier permit predates that by like 10 + years. Great continuous customer base going back well over 30 years. And I’ve bought several semi trucks, and trailers over the years on 5 year loans, and have paid everyone of them off within 2.5 years.

The truck I was looking at was $76,900.00. Was adding a 3 yr warranty in on the deal for I think it was $7,000.00. Salesman did a soft pull and comes back with $15,000 down, $2,300.00 a month for 54 months. That’s $139,200.00 for that $77,000 truck. Well after you include warranty it’s $84,000.00 truck. That’s still $55,200.00 interest. Lol. I told the salesman, you’re out of your mind I’ll pass. I don’t mind paying some interest but that’s insane

Exactly one month later the salesman calls me back asking if I’m still in the market for a truck. I said yes but I’m not gonna take your crazy loan. He says I can knock $14,000 off the price of the truck. So I let him run the numbers again, and he comes back at the same down, same payments, same amount of months. Lol. I told him that’s the same exact crap you told me last month, don’t bother calling me again.

All I can figure is that they only sell their trucks to buyers that failed math class? And I just checked, the same trucks they had on truckpaper are still being advertised. It doesn’t look like their inventory hasn’t changed any.

 

I don't know about the credit score. I am more interested in knowing how you came out of more than one womb to lick.

 

yes. Next question

 

Holy Hell! So, you, after the down payment, you were financing ~ 69K. Those terms come out to 29% interest! Scary to think how many people take that.