9 Tips on How to Buy a Commercial Truck with Good or Bad Credit

You can get a new or used commercial truck to start your business, or upgrade the equipment you have in your existing business. It doesn’t matter whether you’re an owner operator or you work for a trucking company.

You are most likely aware that every commercial truck has different features in terms of: how it’s used, safety and price. Decide what kind of truck will work best for your business. Since used trucks are more affordable than new trucks the age of the truck and mileage can affect your ability to get financing.|

Set a budget, find the truck you want and fill out our application to get approved for financing.

Find Your New or Used Commercial Truck to Buy

  1. Look for used commercial trucks online. Reputable sites we recommend include: TruckPaper.com, UsedTruckListings.com, eBay Motors.com, RBTruckSales.com, DecaturTrkandTrailer.com and AllStateTruck.com. Our inventory page provides links to these resources as well.
  2. Search local advertisements online as well. You might find local dealers who have commercial trucks on Craigslist.com or through the sites run by local car and truck dealers. Many of them use some of the websites listed above as a portal for their available inventory. Trucks for sale by private sellers may make it more difficult to acquire financing.
  3. Talk to the dealer about what you are looking for and be sure to explain that you are interested in a used truck. Test-drive anything that you like. It is best to look for trucks that are 2007 or younger that also have 700 miles or less as this makes financing more available to you.
  4. Find out about commercial trucks for sale with truck rental companies. Many of them have trucks available that are well maintained and well cared for. Companies such as Penske, Enterprise, Ryder or Budget Trucks offer a good variety of quality trucks for sale.
  5. Decide on a truck that meets your business needs and has a good safety record. The dealer you buy the truck from is required by law to provide you with information on whether it has been in accidents or had extensive mechanical work done. A good reputable dealer will offer this information readily without being asked.
  6. Determine the value. Once you have decided on a truck to buy, research what it is worth before you make an offer. Look at similar trucks with similar mileage and features and get a good sense of the value. Find value estimates through Kelley Blue Book or NADA Guides. Use their websites to search for value by make, model and year. You can also use these resources to get information and customer reviews on the used truck you are buying. This is an excellent practice.
  7. When possible, have the truck inspected by a professional mechanic before you buy. You want to make sure it is safe and in good working order. Reconsider the purchase if significant repairs are needed or safety issues are brought out.
  8. Negotiate a price with the dealer or seller. Use the estimated value and the inspection results to get the best price for the used commercial truck you want to buy. Have the dealer give you a Bill of Sale (or in some states and Invoice) and a Spec Sheet for the truck you want to buy.
  9. Find truck equipment financing for your new or used commercial truck.

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