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  1. JPLUMMER

    Banks won’t finance older trucks

    If the truck has a little over that 750,000 mile mark and the deal makes since we would consider without the overhaul. Typically, we would want to make sure that the customer would have the resources to rebuild the motor if that were to come up.
  2. JPLUMMER

    Banks won’t finance older trucks

    If you have excellent credit your rate should be somewhere around 6-7% right now. Some local banks and credit unions are still giving 4-5% rates but that will soon disappear with the fed raising their rates. There are some other factors that can effect the rate as well.
  3. JPLUMMER

    Banks won’t finance older trucks

    We just need to be able to see an invoice showing the overhaul parts and labor performed at a mechanics shop. Warranty helps but not necessary. The more detailed the invoice the better.
  4. JPLUMMER

    Banks won’t finance older trucks

    We do not have any age restrictions on the trucks we will finance. However, we do look at the mileage on the truck. Typically we will finance Class 8 trucks with up to 750,000 miles. If the mileage is over that we would require documentation of a recent overhaul.
  5. JPLUMMER

    Financing options for a new business?

    Typically unless you have good credit, substantial verifiable experience, along with your business plan most local banks will not consider you for financing as a start up business. Unless you have sufficient collateral to protect the lending institution from a potential loss. Having said that...
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