Want to avoid getting burned by a lease-purchase agreement?

Most dealer financing is more expensive than having your own. Dealers also have other lenders they can place loan if the manufacturer, such as Paccar, will not take the note. I have either paid cash or had my own financing except for one piece of equipment. I paid a higher rate going through the dealer, but it worked for me at the time. Sometimes, the manufacturer will take a higher risk than a local lender.

 

I hadn't thought about the manufacturer. Who would be the best manufacturer to try with?

 

Whichever one makes the truck you want to buy. Paccar for pete and kw, daimlerchrysler for freightliner. Volvo has a finance company as well but i don't know the name of it.

 

Most of the manufacturer owned finance companies will finance brands other than those they manufacture. I would imagine that they would give preference to their own brand.

 

Yes they do if on one of their used truck lots. I don't think paccar will finance a new volvo. Tho ive never tried so could be wrong.

 

A friend of mine used one of the manufacturer's finance companies to finance his Freightliner and he bought it somewhere else. I think it was International who financed his truck.

 

What kind of down payment?....or is it a PacLease deal????

 

through my local KW dealer I didnt put anything down yet. the truck I want wont be available for another month so I am waiting now until its ready. I am doing a customization deal. getting the truck exactly to the specs I want such as having a Thermo king apu installed, double bunk with top as hideaway etc.

 

And their doing this without so much as a credit approval??? or a down payment, security deposit?????....

 

As I stated in my previous post. I HAVENT PUT ANYTHING DOWN YET DUE TO TRUCK NOT AVAILABLE YET. I did a build your own truck through their website and placed the order. when the truck gets delivered I will have to pay something just unsure how much. I have a month of waiting and saving till I find that info out.