There are many great acquision and financing deals for Peterbilt, Kenworth, Freightliners, Volvos and International semi trucks, big big trucks and over the road trucks for sale. These deals are available from the East to the West Coast at various dealers/lenders. These deals usually require vary little money down and have favorable financing terms.
As the economy has gone into a recession, many dealerships have excess inventories due to repos and the return of off lease semi trucks. These semi trucks must be reconditioned and resold as quickly as possible. The leasing/financing of these semi trucks must be done in this economy with flexibility. If the dealership and lender are stubborn and/or inflexible, these semi trucks will sit on the lots for a long time and depreciate in value quickly. This presents a major challenge for all parties involved not to lose all their cash flow and possible go bankrupt . . . .

These semi trucks for the most part will have 10, 13 and/or 18 speed transmissions. The engines are usually built by Detroit, Cummins and/or Caterpilar.. A few semi trucks will have an automatic transmission.

Today’s market dictates flexibility in credit terms and credit scoring. Some lenders will qualify you as long as you have solid references and a guarantee of an income stream. Others lenders require a personal credit score as low as 525 and others require mid to high 500’s for repos and off lease semi trucks. This repo and/or off lease semi truck secondary market gives the start up owner operator and the seasoned one an opportunity to acquire a semi truck which wouldn’t be available for conventional semi truck financing..

The residual buyout clauses for these repos and off lease semi trucks range from $1.00 to 15 percent. This gives the buyer some flexibility in the monthy payment which can be tailored to his needs . . . ..

In conclusion, bad economic times can open doors to various niche industries for great buying opportunties. If you are looking to get into the owner operator and/or expand into this area, it would be a great time to shop around.

Happy hunting for your semi truck . . . . . . . . . . . . .

Whether you are a seasoned owner operator, a company semi truck driver or a semi truck driver whom has just obtained their CDL license, there are thousands and thousands of off lease semi trucks and repos waiting for you. These dealers have semi truck clearance sales every day trying to unload their inventory and assist their cash flow. The banks behind these deals are in the same situation, they must take these non income producing assets off their books and create positive cash flow quickly.

 

These economic conditions have created a waive of trucking opportunities which include semi truck, big rig trucks, over the road trucks, tractor trailers, 18 wheelers etc and enable the start up owner operator the same opportunity as a fleet owner..

 

The financing of semi truck dealer inventories aren’t required to go through normal conventional bank requirements. They are structured similar to conventional lending but their requirements are more lenient. The paper requirements to acquire an off lease semi truck are more lenient starting with the personal credit income score requirements.

 

We have seen some programs that don’t credit pull, reference driven, where other ones start as low as 525 for personal income credit qualifications. The lenders behind the dealer finance deals know that they must move these semi trucks but be prudent as well, a tough combination in today’s environment. The down payment requirements, the front money, can be as low as no down to 15% down depending upon the dealership and its lender requirements.

 

The leases are from 30-60 months depending upon the age of the semi truck. Each semi truck has buyout options at the end of lease which require anywhere between $1.00 to 20% to Acquire title to the truck.

 

Usually, a filled out lease application, a copy of last years business/personal tax return is required, a hauling reference and possibility a filled out personal financial statement is all that is needed in order to get qualified.

 

These requirements are a lot less than conventional financing and less time consuming.

 

The type of semi trucks, over the road trucks, big rig trucks we are talking about in this article are manufactured by:

 

Peterbilt, Kenworth, Freightlner, Mack, International and Volvo

The semi trucks, big rig trucks, over the road trucks etc are brought up to D.O.T standards prior to release to the customer and warranties are available to the buyer for a price which might be able to finance.

 

In conclusion, owner operators, company semi truck drivers, new drivers are needed for these dealerships and banks to dig them out this whole which would be positive to the economy but also to everyone concerned.

 

Happy hunting for your semi truck and related financing..