Truck Financing Guide

Semi-trucks can be used to transport cargo of all kinds, making them an asset for both private owner-operators and major organizations. Of course, they’re also a major investment. If you’re having trouble acquiring the funds necessary to purchase your own semi-truck, financing can help. If you’re interested, this guide from DeLand Truck Center has everything you need to know about applying for truck financing.

Prep

Before you apply for a truck loan, you need to do a bit of research. While the bar to qualify for truck financing isn’t very high, a better credit score or debt-to-income ratio might net you benefits like lower interest rates. Even a few basic steps towards raising your credit score can result in an improved truck financing experience. 

Budget

Just because you’re applying for a truck loan doesn’t mean that you shouldn’t create a budget. Most truck loans are secured, which means that the vehicle will be repossessed if you repeatedly fail to make your payments. Paying more per month will normally result in you paying less overall. However, you don’t want to pay so much that these payments start to become a burden. Extra costs like insurance and truck maintenance should also be accounted for in your budget. Forgetting about these extra fees can throw off your budgeting efforts and result in you paying more per month than you thought you were going to pay. 

Get your truck financed at DeLand Truck Center in DeLand, Florida. We also offer servicing, parts ordering, trade-ins, financing, and test-drives. We’re proud to serve communities like Orlando and St. Augustine, Florida.