I called Peel financial today to see about financing a used glider and they won't touch it. He says certain provinces have outlawed them and will "ground" the truck? Has anybody heard of any nonsense like this?
Provinces outlawing gliders?
Discussion in 'Canadian Truckers Forum' started by Elroythekid, Dec 8, 2016.
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Canadianhauler21, x1Heavy, Nothereoften and 2 others Thank this.
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These are used gliders and already have been licensed in Ontario so I really think the guy is nuts. I have almost enough cash to buy it outright so I'm going to investigate it further in Nova Scotia to make sure I'm not missing anything and if all good I'm just gonna buy it. I think the guys crazy, but I'll still dot the i's and cross the T's to make sure. Thanks!
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The guy won't finance it because in the eyes of a finance company a glider is a kit not a truck. Value of gliders are hard to define. To some they are worth less to others they are worth more.
MartinFromBC and Elroythekid Thank this. -
Their concern might be based on the possibility of a glider being reassessed as to its legality. If there are a number of them that have been incorrectly registered (as mentioned in the article I linked in my first post), then their concern could be that they may potentially have an asset with no value. Even though the reality of such an event coming to pass is very low, most financial institutions are going to err on the side of safety rather than risk... especially for such a small market. You might be better off contacting a dealer that advertises gliders and ask who has been financing them.
Sirscrapntruckalot and Elroythekid Thank this. -
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My friends boss has a whole fleet in bc and builds them. They have to be insured as the year the motor is. The guy could be blowing smoke up your ### in a polite way of not saying they don't want to touch them for other reasons.
MartinFromBC and Elroythekid Thank this. -
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My company just bought a brand new 389 glider and are putting a big 15 litre CAT in it (it hasn't arrived yet and will be a box of parts). No word about anything of the sort. Sounds like they are yanking your chain.
x1Heavy, MartinFromBC and Elroythekid Thank this. -
Peel Financing financed my glider a couple months ago. who did you talk too?
MartinFromBC and Elroythekid Thank this.
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