Looking at buying a truck in the next few months. Anyone ever finance a truck through penske or Ryder? Just wondering what the rates are like. Also their websites talk about first time buyer programs so it got me curious. Thanks
penske or ryder
Discussion in 'Trucker Taxes and Truck Financing' started by PowerPullin, Feb 9, 2015.
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For the best and most accurate info I would just call 'em.
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if i were to buy from either one i would only buy a truck that was leased to a customer. you can find out what customer and research their operation and find out a little about how the truck lived its life.you can also request maintenance records and that can help i little also.
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i bought one from Ryder, but i had my own financing from my own bank.
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Looking at their site they have some deals for the 2012/13 volvo trucks going on -
Ryder puts way too much time and money into the trucks they sell
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I worked for Penske Truck Leasing in the late 1990's. They are not going to sell junk, it has to make certain specs, brakes at least 50%, tires at least that, all systems go. The liability issues involved in selling a defective commercial vehicle and getting involved in the possible legal action post accident were way too high. That's why they sell them with a short warrantee, although apparently Ryder just started selling "as is where is" no warrantee trucks
Finance rates will be dependant on your credit worthyness. They have no trouble selling this stuff. The best equipment is sold in multiples, 10+ to hundreds at a time. Agree to buy 20 tractors from them, they will give you some of the best as an incentive. That is why you can sometimes find cleaner trucks on the used truck market instead of directly from them.
Maintenance is ok, oil changes/grease jobs at 25,000 miles. Fix everything as it breaks or the customer complains. They know they are getting rid of it a 5 years/600,000 max. As long as it doesn't blow up before then, they are good to go. They are aces at figuring this stuff out, thats why Roger is a billionaire....PowerPullin Thanks this. -
I've purchased two trucks from Penske to replace some older units in our fleet. A 2008 & 2009 Prostar. They had about 600K on them at the time. We've put about 230K on both of them since with no major repairs to the drivetrain or suspension. That's not to say they've been maintenance-free but still cost effective for our needs. Buying used from anyone is a bit of a gamble but I can buy 3 used trucks for the price of one new truck. Having a good mechanic inspect a potential purchase is more than just "piece of mind". We would buy again from Penske if it was the best value at the time. Hope this helps.
trucker91, harlycharly55 and jchief Thank this.
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