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.
Has anyone financed an engine rebuild?
Discussion in 'Ask An Owner Operator' started by razor1983, Oct 17, 2021.
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Derailed Thanks this.
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Went to the credit union today and was denied, even though I have excellent credit.
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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. -
Why did your credit union deny you? I thought credit unions were more loose with their money than a bank.
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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.
razor1983 Thanks this. -
razor1983 Thanks this.
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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 -
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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