Lenders Tighten Credit Standards For Owner Operator Truck Purchases as Market Softens

Seems to suggest there are no looming greater economic issues ahead. I would disagree with that one, and telltale signs like this would seem to disagree also. When the transportation industry starts to show cracks in the facade that is a good indicator there is an economic pullback coming soon. And considering the last recession started almost 12 years ago (Q4 2007) it is way past due.

 

It so true. 2007 trucking starts slow down - 2008 full fall.

 

2 dealerships on my lane are filling up with new truck inventory!

 

Here in BC truck sales are booming and the dealers are having a difficult time keeping up with the demand. Its a 5 month wait to get a new Mack when I enquired recently. Sales are up 300% from 8 years ago when sales did slow down some.
I personally would like to see it mandatory for anyone who is buying a truck to have to put a minimum of 50% down to get any financing.

 

Don't worry. Those same lenders will be begging you to finance one of their repos before long.