Is this a fair Interest rate for new truck/new venture...?

can you just bank more money and wait till the rates drop?

i wouldn't start anything new with the chances of failure being high the first year, especially if you cannot earn/make enough to pay off that higher interest rate.

 

WOW 15%,,ya id put more cash down or try another avenue to finance. I considering mortgage rates in US are around 5% should be able to borrow at 8%…

 

some of the average mortgage rates

30-yr fixed......6.888%

15-yr fixed......5.782%

0 / 6 ARM.........7.094%

or this

People also ask


What is the current mortgage rate right now?


For today, Monday, January 09, 2023, the current average rate for the benchmark 30-year fixed mortgage is 6.47%, falling 19 basis points compared to this time last week. If you're looking to refinance, today's current average 30-year refinance rate is 6.48%, falling 22 basis points compared to this time last week.

Compare current mortgage rates for today - Bankrate.com

 

About the lowest truck rate I've seen was 9% and that is with a 820 credit rating and 100K down.

 

Try Paccar financial. I think my interest is like 5.8% With personal credit. My trailer is with business credit and is 8% at BMO.

 

yeah, but is that equipment of yours a first time purchase, for a new trucking company like the o/p....???

that'll make a huge difference between the 2 of you

 

Anybody else wondering why the OP needs a brand new truck? To me? It always seemed like the best idea to start with something older, but mechanically sound for much less money. Tractors these days are upwards of 160,000 for the low end.

 

they wanna go broke faster..???