Financing Harder to Get for Used Trucks

HOWEY-IN-THE-HILLS, Fla. — Financing, once plentiful, is becoming more difficult to obtain for buyers and sellers of used trucks.

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A little over a year ago, financing was easy to get and terms were good. But the ensuing year has seen fuel prices and insurance costs rocket skyward while a growing oversupply of used trucks forced values down.

The result has been to make everything about buying and selling trucks more difficult.

“If we don’t try to minimize our risk,” Paul Heiss of Federal Assurance Corp. told a group gathered for the convention of the Used Truck Association Oct. 26-28, “we’re not going to be around next year.”

For the full story, see the Nov. 6 print edition of Transport Topics. Subscribe today.