Buying a Used Semi Truck with Challenged Credit

Many trucksPurchasing a used semi truck can be the beginning of a lucrative and successful career in the trucking industry. Many individuals aspire to owning their own truck and running their own business. But how do you start to make this dream a reality if you have credit issues or a lack of capital? It is possible. It just takes some thought, planning and action to make it a reality. Here are some ideas on steps you can take to obtain approval for used truck financing. 

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How does a Truck Dealer get financing for First Time Owner Operators?

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Loans for a commercial truck and trailer are different than a typical auto loan for a personal vehicle; your local bank won’t offer them. Even banks that advertise their services to small businesses typically refuse to finance trucking companies — trucking has a notoriously high failure rate for new businesses, and banks don’t like risky investments.

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