U.S. Corporate Capital Leasing Group Inc.
Peterbilt Semi Trucks, Tractor Semi, Over the Road Trucks For Sale, Dealer Financing UpdateIn today's economy, start up and seasoned businesses have an unique opportunity to acquire anattractive deal for any type of Peterbilt semi, tractor semi, over the truck for sale with dealer financing. The first option, for the buyer, is to visit their local dealer and find his truck there.This is great place to start and obtain pertinent information that will be used later in the datagathering process. From there, it is recommended searching the internet and its mass volume of data that is available.The potential buyer can visit such sites as truck paper and truck trader etc to view thousands of listings of Peterbilt trucks available across the United States. He is able to sort and sift throughthis vast data and should be able to find a truck, in any city and/or state across the U.S that meetshis acquisition requirements. Once he has located a source of Peterbilt over the road trucksavailable to him, he is able to contact these sellers and negotiate a deal that might be able to meethis needs. Once he is agreed to a price and its particulars, his next hurdle is to find adequatefinancing in today’s complex lending world of this commodity.The type of Peterbilt semi trucks we are identifying for this article is the following:Flat Top, Raised Roofs, Peterbilt 379, Peterbilt 387, Peterbilt 386 , Peterbilt 377Today, the financing arena for Peterbilt semi, tractor semi, over the road trucks has becomemuch smaller, especially for over the road trucks.. Lenders, in the past, that use to finance thisniche market have either pulled their portfolio funds out of this area or have modified its lendingrequirements. It is not unheard of today that a start up business must commit to a down paymentof between 10% - 30% of the acquisition cost of the Peterbilt over the road truck to enter thismarket. The seasoned business with good credit might be able to get in as little as one paymentdown plus documents fees but must have either A or B Credit. Other seasoned businesses thatdon’t meet these credit requirements, may be required to put up 10-20% down or either put upadditional collateral as their credit scores fall below 600.Most buyers don’t enjoy these tightening financial requirements, are locked out of this market,and will start looking for alternatives that are available due to market conditions. In addition tothe market requirements of substantial monies due upfront, the conventional lender has modifiedhis risk/reward factor for the failure and possible repossession of these Peterbilt trucks.Therefore, the rate and/or interest factor that the lender charges has gone up making it a bigger challenge to complete the financing end once the want to be buyer locates his acquisition…. As the increase of defaults on the payments of Peterbilt semis and all other trucks have risen toall time highs, the lenders have been taking back these trucks by the droves that are earmarked asrepossessions. This has caused a problem with normal lending practices and trying to balance itwith a non producing income portfolio. If these lenders don’t act swiftly and prudently, thecombination of these two type of portfolios can be damaging to the lenders’ bottom line. A thirdfactor to consider is the off lease truck. These Peterbilt semi trucks are being returned to thelender and they must act accordingly with this third factor.