Has anyone financed an engine rebuild?

Discussion in 'Ask An Owner Operator' started by razor1983, Oct 17, 2021.

  1. Rideandrepair

    Rideandrepair Road Train Member

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    Friend of mine got 100% financed through Paccar. Pete Dealer rebuilt his Cat. That was back in 09 when credit was tight. He had good credit, and a long history with them. Truck was 8 yrs old at the time.
     
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  3. razor1983

    razor1983 Medium Load Member

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    I would love to get away for that little, but those are not nowadays prices. And I also want to get the pumps, the injectors and the camshaft replaced. The truck has 1.4 mil on it, all original except the turbo.
     
    Derailed Thanks this.
  4. razor1983

    razor1983 Medium Load Member

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    Went to the credit union today and was denied, even though I have excellent credit.
     
  5. rollin coal

    rollin coal Road Train Member

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    Don't tell the credit union what you need the credit for. All you need from them is a credit card with a $25k limit and you've got your loan. They give those out like candy if you have good credit.
     
    OldeSkool Thanks this.
  6. lester

    lester Midwest's #1 Feed Hauler

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    Why did your credit union deny you? I thought credit unions were more loose with their money than a bank.
     
  7. razor1983

    razor1983 Medium Load Member

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    I asked for small business loan and I did tell them what its for. Don’t think they really understood what it is.
     
  8. rollin coal

    rollin coal Road Train Member

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    Credit Unions are better than banks in a lot of ways but getting a small business loan, you need a bank. You can talk to a banker and get what you need. Credit Unions are not like that.
     
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  9. nikmirbre

    nikmirbre Road Train Member

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    Actually those are the nowadays prices...maybe without the bull gear.......
     
    razor1983 Thanks this.
  10. abyliks

    abyliks Road Train Member

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    if you are going to open it up do it all, or don’t because we love buying projects that were half assed that someone got frustrated with and dumped…..

    I couldn’t get a loan from my credit union for my reefer after paying off 2 or 3 other loans with them, went over to td bank and was approved the next day
     
    nikmirbre and razor1983 Thank this.
  11. roundhouse

    roundhouse Road Train Member

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    $30k isn’t enough to rebuild a Detroit ?

    you need to look at some other shops .


    And you don’t need a small business loan ,
    You just need a credit card.

    of you don’t have a card with $25k available , I’m sure the shop will split the charges on more than one card.
     
    razor1983 Thanks this.
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