lease finance companies?

Discussion in 'Trucker Taxes and Truck Financing' started by blacklabel, Jan 30, 2013.

  1. blacklabel

    blacklabel Heavy Load Member

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    Anyone care to share some experiences?

    Not like Prime or anything like that, and actual finance company, that lets you buy the truck you want and take it where ever.

    Thanks in advance.
     
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  3. leftlanetruckin

    leftlanetruckin Road Train Member

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    Last one was with Wells Fargo Equipment Finance.
    Good experience overall, and an excellent rate.

    Martin
     
  4. blacklabel

    blacklabel Heavy Load Member

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    Thanks for the replies.

    Ive looked @the lone mountain, no hoods.

    Didnt know of wells fargo equipment
     
  5. snowwy

    snowwy Road Train Member

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    don't know why everyone is so hip on hoods. they non aerodynamic bricks. and these days. you want fuel economy.

    if the truck runs good. sounds good, drives good, works good, and goes to work and pulls loads. that's all i care about. LOL. other then maybe interior space and haveing side doors.
     
  6. blacklabel

    blacklabel Heavy Load Member

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    Different strokes for different folks.

    I'm gonna be paying for it, so I'm gonna get what I want.
     
    aiwiron Thanks this.
  7. snowwy

    snowwy Road Train Member

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    not only wil you be paying for it. but you'll never stop paying for it either.

    6 mpg is pretty tough to manage. or maintain.

    if i decide to get back in the game. it's gonna be a 7 truck.
     
  8. MNdriver

    MNdriver Road Train Member

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    blacklabel Thanks this.
  9. blacklabel

    blacklabel Heavy Load Member

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    Why do I talk to guys daily who get over 6 in a hood?

     
  10. FreedomTruck

    FreedomTruck Bobtail Member

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    Are you talking about getting pre-approval before shopping? Whats your credit like?

    Some of the best for leases have been the captives (Daimler Truck Finance, Paccar, etc) in my opinion. Best set up for a lease, usually have smaller/no fees for early payoff, but they are going to usually require slightly better credit scores (above 650), and are most likely going to be more constrained on the age of trucks.

    Wells Fargo Equipment Finance usually has some of the best rates (even better than the captives), but you are going to pay a fee up-front, and are going to have early payoff fees (typically). They also have restrictions on the age of equipment, and are really set up for the best of the best credit wise.

    GE Capital is another solid company, may be a bit more flexible on age, but you will pay a fee upfront as well as prepayment fees. Credit needs to be good, or you'll need a downpayment.

    There are a bunch of other companies out there that will do leases for lower credit, typically what I see people needing is a size-able down-payment (even in a lease) and be prepared to pay some potentially large fees (one company I know charges a 1500 doc fee).

    Is there a specific reason you are asking about a lease vs a purchase? Depending on your credit, there may not be all that much of a difference in rate/down.
     
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