Can you finance truck and trailer in one loan?

Discussion in 'Expediter and Hot Shot Trucking Forum' started by rccarlson22, Oct 31, 2019.

  1. rccarlson22

    rccarlson22 Medium Load Member

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    Anyone with experience financing were you able to do 1 loan for both truck and trailer or did you have to separate them?

    Thanks
     
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  3. singlescrewshaker

    singlescrewshaker Road Train Member

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    Not sure how'd that would workout? What if you wanted to sell one or the other before the loan is fulfilled.? Could have an issue getting the title for one of them without the loan being completely paid off..

    Sounds like you need a business line of credit maybe. Then you can buy both, have the titles to both, & just one monthly payment to make. Would also make it easier to sell off equipment if you want to change something up to be more profitable..
     
    Lite bug Thanks this.
  4. rccarlson22

    rccarlson22 Medium Load Member

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    I see financing for tractor trailer combos so I was curious if anyone offers that for the 1-ton trucks and smaller trailers
     
    singlescrewshaker Thanks this.
  5. crocky

    crocky Road Train Member

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    pretty unlikely..
     
  6. roundhouse

    roundhouse Road Train Member

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    Not likely but why a one ton truck ?

    you’re gonna be subject to the same rules as a big truck and a one ton uses almost as much fuel .
    And a good used big truck doesn’t cost any more than a new one ton .
     
  7. rccarlson22

    rccarlson22 Medium Load Member

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    In hindsight I should have had a used tractor as an option but I only knew hotshotters in the industry so that’s what I was familiar with.
     
  8. cke

    cke Road Train Member

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    Yes you can. I did.
     
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  9. rccarlson22

    rccarlson22 Medium Load Member

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    What is the term for that type of loan? Tractor-trailer loan?
     
    cke Thanks this.
  10. crocky

    crocky Road Train Member

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    You can run a 1 ton truck and derate the trailer to be under 26k lbs. Doing that you don't have to deal with apportioned plates, IFTA or the drug consortium stuff. Meaning you can save a bit of money starting out by setting up this way.. It's how I went but I have a SRW 1ton so I didn't have to derate my trailer.

    I did it mainly because I already had the truck, if I bought a truck for this to start out I would have gone with a 550 and bigger trailer.. I would have just done it the other way.. but some guys don't have CDL's either so they stay under 26k for that reason.
     
    24kHotshot Thanks this.
  11. cke

    cke Road Train Member

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    Call it a business loan
     
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