Commercial Truck Finance
With the big rigs costing mega bucks, commercial truck finance is the only way most private carrier truckers can ever afford to make their dream of an independent life on the road a reality. A brand new rig with a trailer can easily cost almost one hundred and fifty to two hundred thousand dollars, depending on the bells and whistles on the cab, and so few drivers are able to make it without a sizable loan to get started. Until recently, getting a load from a commercial truck finance company may not have been an awful thing because the men and women driving the big rigs actually made a pretty good living doing the six days out and home for two day adventure. Some private carriers made over one hundred thousand dollars a year working that kind of schedule.
Of course, when a person thinks about commercial truck finance, the immediate thought would be about the big rigs on the Interstates, but companies that exclusively deal with truck finance deal with many types of truck purchases, such as dump rigs, concrete rigs, excavators, flat bed trailers and tank trailers and practically any large, heavy commercial vehicle used to generate income. When thinking about going into debt for so much money in a very unstable economy, many first time buyers would opt for leasing a big rig vehicle, no matter what kind the rig may be. Leasing presents a real tasty option because the buyer is only renting a portion of the truck's life. Leasing plans may or may not ask for a huge out of pocket first payment, which means that the trucker leasing the vehicle has more money available for fuel and other daily expenses. Just as in car sales, many drivers can perhaps buy bigger and more comfortable rigs by leasing rather than buying.
Now what can a fuel crisis for the American trucker mean for commercial truck finance and related businesses? The cost of filling up a rig for the private carrier guys and gals is over one thousand dollars every couple of days now, when just a year ago the cost was seven hundred dollars and five years ago was a mere four hundred. For the commercial truck finance world, the crisis means having to work all the harder to find lower cost finance money from investors who know the trucking business is still a gold mine. Frankly, the entire country depends on two things to keep it running: CHEAP OIL AND THE BIG TRUCKS TO CARRY THE GOODS TO EVERY PART OF THE COUNTRY. By the year twenty fourteen, the American Trucking Association estimates that there will be a shortage of twenty thousand drivers across the country, and that figure could grow to a hundred thousand by twenty twenty.
The dream of many men and women is to answer the call of the open road and not be tied down to an eight hour shift day in and day out. The semis of the twenty first century offer all the amenities of home life, including air ride driver's seats, king sized beds in some rigs, satellite television, microwave ovens, Internet connections, bathrooms, a few have showers and many other unheard of luxuries just a few decades ago. For many adventurers, the call of the road means no responsibilities of home ownership, no supervisor breathing down a person's neck and the ability to stop and smell the roses anytime one desires. Of course, the smelling of the roses can hurt a deadline delivery and maybe the bottom line for the week, but the freedom is there. For many single men and women and for married couples with empty nests, truck driving is the answer to cabin fever. But commercial truck financing will be a major part of these dreams coming true for all but a few very fortunate drivers who can afford to buy the rigs outright. "So men ought to love their wives as their own bodies. He that loveth his wife loveth himself." (Ephesians 5:28)
But commercial truck finance needn't just be about new equipment with all the chrome intact. Many trucking finance experts are encouraging drivers to look at the used side of the market when it comes to buying equipment. There are two ways the used truck business is going today, and much of it depends on what part of the country a potential buyer is in. First, there is an overall steep decline in new truck sales everywhere. This means that fleets and private carriers are keeping the old equipment and just shoving in new parts. On the other hand, there are some very nice rigs for sales because many drivers are getting out of the business because of the high cost of fuel and may be willing to sell at fairly reasonable prices. Commercial truck finance for used vehicles may see a huge upturn as the fuel crisis deepens.
If a person can put himself or herself in the place of many people who really want to follow the call of the road, it is not hard to see how much these potential warriors of the road sweat out the commercial truck finance issues. But that is true about any large loan someone is waiting on. No doubt, millions of people have sat by their phones, if not literally than figuratively, waiting on the call from the bank with a yes or no on the loan for that dream house. People without a close relationship with God always view the company that they work for or the bank that provides the loan as the source of all good things. For Christians, getting to know God intimately means that He can be trusted for all needs being met even if the bank or the loan company says no way.