Banks won’t finance older trucks

[Shimmy1]

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a 7 year old truck with 500k can cost you as much a 20 year old one with 900K. They all eat your wallet at some point. LOL

In most cases, a lot MORE.

 

[JPLUMMER]

Out of curiosity, with excellent credit, what is the ballpark interest rate on both new and used trucks now.

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.

 

[JPLUMMER]

I realize that you have to draw a line in the sand, but I would take exception to the fact that you will finance a truck that is showing 748,579 on the clock, but not 752,689 unless it's been rebuilt. I'm maybe assuming too much here, but a truck with 650k can sh1t the bed just as fast as a truck with 900k, both having original engines. My opinion, I'd much rather spend my money on a '96 through '02, and plan on overhauling the engine in the next few years than take a chance on a 600k truck that more than likely is going to require an overhaul as well in a couple years, plus the added aggravation of emissions troubles and lost time in the shop.

Just an observation.

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.