Why Finance a Semi-Truck?

Buying a semi-truck can be a fairly expensive proposition. While these versatile vehicles can help you boost profits, you’ll first have to invest money into getting one, and that may be a challenge if you’re on a tight budget. This is where financing comes into play. Because of the hefty price tag of semi-trucks, many trucking companies and fleet operators utilize financing options to fund their purchases, paying back the loans over a period of time.

If you have any questions or you want to discuss various semi-truck financing options, contact the experts at Palmer Trucks at one of our 12 dealerships in Indiana, Ohio, Kentucky, and Illinois.

Low Upfront Cost

Expanding your business often requires you to make big purchases. While you may have enough cash to cover regular expenses, getting a loan is a great way to spread the costs of acquiring an expensive new asset, such as a semi-truck. When you decide to finance, you'll get the perks of a significantly lower upfront cost, fixed monthly repayments, and flexible loan terms ranging from a few months to 5-15 years. The total cost paid is usually higher than if one acquired the truck by cash, but the monthly payments are more manageable. This can be especially helpful for small businesses that can't afford a high initial investment and need more cash in hand.

Plenty of Options

There are several sources from where you can get a loan for your semi-truck, from banks to credit unions to lending institutions. Whether or not you use a particular bank for your personal or business financing needs, they can still help you obtain a loan. However, choosing a lender you already bank with tends to provide lower interest rates.

At Palmer Trucks, it’s our goal to make the financing process as simple and hassle-free as possible so you can get the semi-truck you need at the right price. Our knowledgeable and friendly staff at Dealer Services will be happy to assist you in finding the right vehicle and work with you to determine the best financing option for you. We have 12 dealerships across IN, OH, KY, and IL, so get in touch with us at your nearest location today! Check out our convenient, online truck financing application.