Considering Purchasing a Used Semi Truck?

When a truck driver is ready to make their first purchase, becoming an owner-operator, one has to consider many factors...  Purchasing the right CARB Compliant truck, current contracts and future opportunities as well as creating a business plan, however one of the most immediate and important concerns is the means to purchase the vehicle.  The good news is there are plenty of options!

You Don't Have to Break the Bank to Purchase
a Used Semi Truck in Fontana!
(photo courtesy of:  Images Money)

Good Credit?

For those with decent credit, applying for a financial loan is simple and quick.  Typically a credit application will be required. It is important to note that the more detailed information provided the easier it will be for a financial institution to approve the loan.  

If you have had experience driving trucks this puts you in a better position than those with little to no experience.  Also we have found that if this is not your first purchase of a Used Semi in Fontana you will have a much higher chance of getting your application approved.  

Here at Prime Time Equipment our experienced finance manager has helped hundreds of drivers become owner-operators, getting approvals for loans and new heavy duty equipment in Fontana.

Poor Credit?

For those who may be "credit challenged" (and in today's economy there are few of us who aren't!) there is no reason to give up your search!  There are still plenty of options available to you:

Make Sure You Find the Right Option
When Looking for Fontana Used Trucks!
(photo courtesy of: maddy3m)

• See if you can find a co-signer with good credit who can help you secure a loan.
• Having a higher than normal down payment can help a loan company feel more at ease.
• A trade-in vehicle can often help in offsetting a down payment.
• Non-traditional lenders can also be the right option in certain circumstances to get started, including lease-to-own options.
• We have seen many trucking companies who will actually get involved and help their drivers make the shift from employee to owner-operator, sometimes even financing or brokering the deal.   

Where Do I Start?

The best place to start if you are considering purchasing a Used Semi Truck is to speak with an experienced finance manager who can help in navigating these decisions.  Rather than falling in love with a piece of equipment that may be out of your price-range, find out how much you can qualify for first. Put your business plan in place and determine your monthly budget.  With these in place you will be able to make that purchase, moving one step further into your career and future.