Picking my own freight baby! My journey to & of being on Schneider choice, the Adventure & Numbers!

Lets say you were able to walk into the KW dealer and buy a new 160k truck at zero down, for 5 years, at 11% interest, if you're lucky. Since you have no money to pay down, your credit is probably not that good, so 11% may be a cheap rate.

160,000.00 loan X 60 payments of $3478.79, equals a total payout, interest included, of $208,727.26, or $48,727.26 interest. Not much difference....

 

Truck sure as hell wouldn't have an APU, fridge or inverter I bet either

 

Damlier Financing is 15.5%. And that's what you'd pay in this circumstance.......IF they'd loan you the money

 

My bank offered me 4.5% money on a new truck a couple of weeks ago. I'm hesitant to pull the trigger again. I just can't imagine saddling myself with the kind of interest rates you fellows are throwing around LOL

 

Yeah, when I got my 2nd truck I went to my local bank and got 5.5. Seemed like a better offer than Damliers

 

I'm not saying a SFI lease is a good idea, or their terms are fair, but for a company l/p program it is one of the better ones I have seen.

Your old boss wasn't charging that much less than SFI. Rough math he us at 12%ish. For someone who had no history running a truck, SFI/old boss/Daimler loan terms are reasonable. Once you have some time under your belt, there are much better options. What terms did your bank offer you on your first truck?

 

5.5%.

But as I indicated previously, I had to jump through every hoop and over every obstacle he put in my way. And my credit score was right at 780 at the time.

 

That's good. 6-7 years ago when I was thinking of getting a truck I discovered the banks would happily lend me $500,000 at 3.5% for a house with 10% down, but wouldn't loan me $100,000 to buy a $150,000 truck. C9me back once you've been in business a year they said.

 

Why not? Got all that and then some for $149k on my LT.

 

To be brutally honest though, I'm betting International is practically giving away it's new LTs in an attempt to restore their credibility after the MaxxForce fiasco, no disrespect intended. I only prefer Freightliner because I've never broken down behind the wheel of one with Detroit power.

Anyway, an APU I've heard is another $8-10k on top of the msrp by itself. Big difference between a $150k truck and a $160k truck when it comes to stealerships calculating your buying power