In today’s economy, No money, little money, low money down is available on semi trucks, big rig trucks, over the road trucks and tractor trailers for repos and off leases. After December 25th, we are seeing tremendous buying opportunities at Walmart, Target, Best Buy and other retailers across the United States. Why shouldn’t the trucking industry be any different.
At the present time, lenders/dealers are loaded with repo and off lease trucks and trailers. These inventories are disrupting them from continuing their normal selling practices. In addition, these huge inventories are hurting their working capital and related cash flow. Today, we are seeing dealers/lenders offering concessions on a combination of pricing and financing.
Some lenders/dealers are offering guaranteed financing and no money down to commence a buying opportunity. These economic conditions have given the first time buyer a large opportunity to enter this market as an owner operator. This can enhance their earning potential and free them from the employer/employee relationship. On the other hand, businesses looking to expand their fleet can use this favorable opportunity to obtain additional trucks and trailers for no money down or very little down and favorable financing.
Some lenders/dealers have waived strong credit scores as a criteria and will approve applicants for repos and off lease trucks that have credit scores below 600. All the lenders have different lending and financing options, therefore it is important to shop around and compare the information. In addition, the available repos, off lease trucks and trailers have been reconditioned and are ready to put back out onto the highways.
Examples Of Semi Trucks, Big Rig Trucks, and Over the Road Trucks and Trailers we are talking about include:
Kenworth, Peterbilt, Mack, Freightliner, International, Volvo, Western Star, Great Dane, Fontaine, Wabash and Utility
In conclusion, this economic downturn has created a buying and financing opportunity for the startup owner operator and the business that wants to expand its fleet. It is not unheard of that these lenders/dealers offer multiple units to a seasoned business for an expansion opportunity.. These financing deals usually are for sixty months and offer buy out clauses from $1.00 to 20%. It is always advisable for the buyer to consult a professional before acquiring and financing a truck and/or trailer. Additionally, there are new depreciation rules into effect for 2008 and 2009 that the buyer should be aware of …..
Happy hunting for your repo and/or off lease acquisition…
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