Question:
My fruit Liner is on its last leg. Im looking to finance another ride but it seems nobody wants to go past 36 months on a commercial loan. Can someone point me to a company that will go at least 60 months on a truck. I am only looking to spend around 25k to 30k. Thanks in advance.The largest importer of Chinese goods in the world

Answer:

I think the only way you will get the 60 months you are looking for is to:
1. Buy new
2. Put property up as collateral
I believe the reason that nobody will finance a used truck for 60 months is because it loses its value a lot quicker than the loan is paid off. As far as the bank is concerned, I fully understand this. If they did offer 60 month loans on used trucks, people would use up all the life in them, and then let the bank take them.
The question you should be asking yourself is: Why can't you afford a payment on a $30,000 truck at 36 months?

Answer:
thanks for the reply revvassago. I paid for my truck I have now from savings. I m not much on using credit but for this amount it is just to much capital to let go of. I just started driving in July so im still a little un-easy about this biz. I spent my last 20 years in a tire plant that fell to N.A.F.T.A. .I can afford it but is going to kill me to have a payment that size. Damn I hate payments!!The largest importer of Chinese goods in the world

Answer:
If you're talking about a Class 8 road tractor, the only thing you're going to buy for $25-30K is something that will need $20K worth of engine work in a year or two (if you're lucky).
If that's all you can afford, or pay for, or want to pay for, perhaps you should rethink owning your own truck... if you haven't calculated the extra interest you would pay by extending such a relatively small loan over a 5 year period, perhaps you should rethink running your own business

Answer:
scredneck wrote:

Wait until you start paying the repair bills. They will make that truck payment look like nothing. Good Luck!

Answer:

I hope not!

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Hope does not a good business plan make

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.]Spent 6k in sept on repairs to my current truck and was down every day last week for break down , the bill was only 238.00 but cost me a weeks pay. My truck has the small 60 series Detroit, I think 320 hp. I gotta have more ponies. Going 45 mph up a hill on I 77 aint to safe and is down right embarrassing . I need a light truck with big engine.The largest importer of Chinese goods in the world

Answer:
Don't think you will find anyone that will go out 60 months on a truck only worth $30,000. Don't think you are going to get a $30,000 truck to last 5 years without major work. On a 60 month loan you will be upside down fast.
Only option I can see is if you have a house and willing to put that up.
I am selling my 2005 Kenworth and Paccar will only go out 48 months for that.
It's a case of pay me now or pay me latter. Start throwing money in for break downs and missing loads soon you will wish you got a newer truck. Think of it this way, would you trust a $500 car to driver cross country in? Figure you need a $5,000 car for this. Trucks are same way.
Answer:

45 up Fancy Gap is about all you're going to get unless you are empty.
Just go out and get yourself a 379 Pete with as much horsepower as you can get, and you can just watch any profit go out the stacks.
But you'll look cool, right!
Get R Done!

Answer:

Now thats what I wanted to hear!!!!!! Damn right!!! would never cut the jakes off either..The largest importer of Chinese goods in the world

Answer:
I don't like debt either..that's why I'm SAVING to buy my trk.(along with having operating cash & a good emergency fund.)
Step #1) Have $10,000-$15,000 start up operating cash.
Step #2) Get rid of ALL Personal Debt.
Step #3) SAVE $30,000-$40,000
Step #4) Pay CASH for a good used trk.(from a private seller...plenty of O/O selling trks b/c they can't afford fuel.)
Step #5)Since you won't have any personal debt & you bought a good used trk that won't have too many breakdowns, this will allow you to SAVE & Move Up into a PAID for trk later on down the road.
If you already have the CASH, then by all means PAY CASH Now & just make sure you keep a good emergency(breakdown) fund in place.
First of all...If you're not confident in what you are doing, then maybe you shouldn't do it.
Secondly...Since you don't seem to be very confident in what you're doing..seems like you'd feel better about letting a paid for trk go, instead of trying to make payments on a vehicle that is not being utilized.(for whatever reason.)
I personally would Not want to make payments on something that I was no longer using.

Answer:
You have to look around there are trucks being traded in that are in the $30 - 35,000 range that are not beat to death and have been well cared for and some have warranty left. Also remember there is aftermarket warranties available.
My son and nephew bought used trucks in the past year or so , both found decent priced and good condition units that have not BANKRUPT them with repairs. Not every used truck is an EX FLEET / team ( driven into the ground ) clunker.
Answer:
Thanks everyone for the help. I am definitely a newbie because I was under the impression that a fleet truck would be better because of mandatory maintenance. I learn from this site every day. Thanks again..The largest importer of Chinese goods in the world

Answer:
Only "some" of the fleets maintain their trucks and keep everything top notch.. I would ask lots of questions, and ask to see maintaince records..
My brother in law drove for SNI and they were not the greatest with their maintaince.. Heck he threw a rod and put a hole in the block... they JB welded it and kept going with it.. after replacing all the other stuff...
Another friend bought a old Crete truck and has had decent luck with it....
The fleet trucks don't have a lot of options but will do the job. I agree with everyone else... 60 months is a long time to finance a truck... I got 4.5 years on mine and thought that was doing good..