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Financing Your Heavy Duty Truck Purchase

Buying a heavy-duty truck is a major decision. With new truck prices winking at a quarter of a million dollars, purchasing a used rig is a less expensive option. Still, the prospect of financing such a large amount is daunting. Like any major purchase, it is best to use caution and do your research before deciding how to finance.

Monthly payments are not the only concern when you are thinking about financing. Along with knowing what additional equipment  you will need, you must add maintenance, taxes, insurance, fuel, and other expenses into the financing equation. Taxes and fees can vary widely depending on federal, state, and local regulations; and are likely to be impacted by what you are hauling. Defining your business before you begin the research process is one way to figure out hidden regulatory fees.

There are several financing options available to both first-time and repeat buyers; as well as for those with good or damaged credit. A Terminal Rental Adjustment Clause (TRAC) lease can help make payments more manageable while allowing you to maintain final ownership rights at the end of the lease.  Online finance companies can offer fast decisions but may have hidden fees associated with their loans.

Knowing your credit score, current interest rates, and length of time that you want to make payments can also help in deciding on whether to obtain an equipment loan or a lease. Along with purchasing and lease options, Robertson Truck Sales offers an online calculator to assist with your financial research. Once you have chosen the best truck and equipment for your needs, Robertson Truck Sales offers simple and secure, online financing.