Few people have the cash on hand to plunk down a pile of bills when they buy a new truck. Most of us peons have to finance our major equipment purchases. Of course, my accountant tells me I get a break on my taxes, but that's not the same thing as cash in my hand. Actually, you'll find that financing a truck or trailer isn't that much different from financing the family car -- just a lot more expensive! Consider these financing tips from Trucker to Trucker next time you buy a truck or trailer:
Contact your bank before you make a financing deal. Most sellers will offer a financing package. Go with what they offer and you can drive your new truck home that day. Just remember, you're not obligated to finance your truck through the seller. Check with your banker. Because he knows you and does business with you, he may give you a better deal. It may be worth waiting a day before you drive that new baby home. It never hurts to shop around. Click here for links to leasing and financing companies and to access a free payment calculator on Trucker to Trucker.
More financing tips next time.
