Wells Fargo-Financing

Discussion in 'Trucker Taxes and Truck Financing' started by biggi1996, Jun 4, 2021.

  1. biggi1996

    biggi1996 Light Load Member

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    Has anyone had any experience financing through them?
     
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  3. Scooter Jones

    Scooter Jones Road Train Member

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    Good friend of mine has financed 2 trucks & trailers through them in the last 7 or 8 years. He has stellar credit, equity in his home and property as well as a solid track record of freight hauling on the books when he obtained his first loan through them. He seemed pretty satisfied overall when discussing his experience with me.
     
  4. REO6205

    REO6205 Trucker Forum STAFF Staff Member

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    Wells Fargo was our primary bank for many years. As our situation changed and got better we did very little actual financing and mainly used them for a line of credit in case we needed it.
    They never screwed anything up, not even one time. We ran our payroll accounts through them and there was never any problem.
    That being said, our local WF is just that...local. We all know each other, live in the same town, belong to the same clubs, and some of our people are relatives of some of the WF people. It really helps when you can call the bank and everybody is on a first name basis.
     
  5. biggi1996

    biggi1996 Light Load Member

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    Thanks for the feedback
     
    REO6205 Thanks this.
  6. bzinger

    bzinger Road Train Member

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    I've financed my last 2 vehicles with wells fargo and been very happy with them .
     
  7. nikmirbre

    nikmirbre Road Train Member

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    I was told not too long ago(this was when covid was a lot worse) that they weren't financing any new commercial vehicles(private sales)
     
  8. Accidental Trucker

    Accidental Trucker Road Train Member

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    Be alert to cross-collaterization and call provisions in their products. That goes for almost all banks, but is especially relevant if you bank where you have your assets financed.
     
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