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 Elite Veteran
Posts: 982
  
Location: On the back of a horse | We are looking at purchasing a truck and trailer and are looking for recommendations on where to finance them through? It’s been years since we have had to finance anything and our plan is for it to be short term. |
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Married to a Louie Lover
Posts: 3303
 
| Best IMO is to start with your own bank and go from there. |
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Location: in the ozone | For truck, I would see if the dealership or truck company (like General Motors, Chrysler Corp) have any special deals & then your local CU too. For trailer, some dealerships have special financing. Otherwise, Internet Bank of IN is GREAT. (I know, suspicious sounding name, LOL). They do financing for many trailer dealerships and will do for private (as in buying a used unit) deal too. They do auto/truck loans too so you might even be able to get a jam up rate on 2 loans if you have good credit - their rates are usually very competitive too. |
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Meanest Teacher!!!
Posts: 8552
Location: sunny california | as far as the trailer goes... if you have another vehicle that is paid off and worth as much as the trailer then i would go to the crdit union and get a loan against the car. way better rates. that will lock you into the car, though. you said short term so not a bad option. even better if you can trade the car in with the load attached to get the truck LOL |
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Elite Veteran
Posts: 883
Location: Southern Indiana | I had a bad experience with Indiana Internet bank (Southwest Financing). I had newer credit though, but they still made me mad and it just wasn't a good experience. I won't ever even try to go through them again. My local bank gave me no issues.
Your best best is your local banks/credit unions. Talk to a real person that will actually help you. You can usually get a discounted rate if up have a checking account with them. Just call around and ask what their current rates are. |
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Elite Veteran
Posts: 695
Location: Windoming | We were trying to decide whether to get a new SUV or a new pickup, the SUV won because of the .9% financing thru the dealer. Why is there NEVER good financing on a diesel, crewcab dually!!!!! Anyway, I never see any. We did only pay 3.7% on our last pickup, but that was years ago. |
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Location: Not Where I Want to Be | Run specials all the time for 0% for 72
I just bought an '18 Laramie, super great rates, 1 easy payment and 0%
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 Half-Eaten Cookies
Posts: 2075
Location: Fort Worth / Springtown | TheDutchMan01 - 2018-05-22 9:05 AM
I had a bad experience with Indiana Internet bank (Southwest Financing). I had newer credit though, but they still made me mad and it just wasn't a good experience. I won't ever even try to go through them again. My local bank gave me no issues.
Your best best is your local banks/credit unions. Talk to a real person that will actually help you. You can usually get a discounted rate if up have a checking account with them. Just call around and ask what their current rates are.
I had a good experience with Indiana Internet Bank (Southwest Financing)
Certainly not disputing your experience, though :)
My Bank - Wells Fargo - has NEVER been able to help me with anything except a high interest rate credit card (I think that is why I went through Southwest, that one time, because WF, for the second time, was unreasonable in their requirements.
On a used truck, one time, we got a check through Capital One- at the time, our credit was decent, but not great -- that was soooo nice, though, to be able to shop for a truck at a dealership and already have your financing secured. I can't stand the car salesman game. |
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 Born not Made
Posts: 2931
Location: North Dakota | kwanatha - 2018-05-22 8:15 AM as far as the trailer goes... if you have another vehicle that is paid off and worth as much as the trailer then i would go to the crdit union and get a loan against the car. way better rates. that will lock you into the car, though. you said short term so not a bad option. even better if you can trade the car in with the load attached to get the truck LOL
This is what I did when I bought my trailer. It saved me a ton on of money on interest because they automatically tack on 2% (I think it was) extra for a horse trailer. But since I "sold the bank my car", then I got a normal auto loan which was easy, then took the cash and bought the trailer outright. |
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Elite Veteran
Posts: 695
Location: Windoming | 1DSoon - 2018-05-22 9:45 AM Run specials all the time for 0% for 72
I just bought an '18 Laramie, super great rates, 1 easy payment and 0%
Never in my life have I seen 0% financing on a diesel crewcab dually. We must live in the wrong part of the country. |
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Elite Veteran
Posts: 883
Location: Southern Indiana | Its 0% for 36 months. For those who have a large down payment or like huge monthly payments lol
I would not say all the time...its a pretty rare occurrence.
Edited by TheDutchMan01 2018-05-22 11:49 AM
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Location: Not Where I Want to Be | Silly Filly - 2018-05-22 12:12 PM 1DSoon - 2018-05-22 9:45 AM Run specials all the time for 0% for 72
I just bought an '18 Laramie, super great rates, 1 easy payment and 0%
Never in my life have I seen 0% financing on a diesel crewcab dually. We must live in the wrong part of the country.
you must because I bought 5 of them that way last year for business |
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Elite Veteran
Posts: 883
Location: Southern Indiana | txbredbr - 2018-05-22 10:50 AM
TheDutchMan01 - 2018-05-22 9:05 AM
I had a bad experience with Indiana Internet bank (Southwest Financing). I had newer credit though, but they still made me mad and it just wasn't a good experience. I won't ever even try to go through them again. My local bank gave me no issues.
Your best best is your local banks/credit unions. Talk to a real person that will actually help you. You can usually get a discounted rate if up have a checking account with them. Just call around and ask what their current rates are.
I had a good experience with Indiana Internet Bank (Southwest Financing )
Certainly not disputing your experience, though : )
My Bank - Wells Fargo - has NEVER been able to help me with anything except a high interest rate credit card (I think that is why I went through Southwest, that one time, because WF, for the second time, was unreasonable in their requirements.
On a used truck, one time, we got a check through Capital One- at the time, our credit was decent, but not great -- that was soooo nice, though, to be able to shop for a truck at a dealership and already have your financing secured. I can't stand the car salesman game.
The lady told me that I needed to keep opening credit cards and in a few years I might be able to get a loan. Very bad advice in my opinion. This was for a small trailer loan. She was very wrong...I got the loan somewhere else.
I have an auto loan through Wells Fargo dealer services. I didn't have any issues. Weird how that works lol
I agree. I don't like how they will run you through too many creditors if your not careful. |
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Elite Veteran
Posts: 695
Location: Windoming | 1DSoon - 2018-05-22 10:52 AM Silly Filly - 2018-05-22 12:12 PM 1DSoon - 2018-05-22 9:45 AM Run specials all the time for 0% for 72
I just bought an '18 Laramie, super great rates, 1 easy payment and 0%
Never in my life have I seen 0% financing on a diesel crewcab dually. We must live in the wrong part of the country.
Probably cheaper for a business than for personal. No way could we afford 3 year payments on a $70,000 pickup, with no trade. |
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 Expert
Posts: 2457
| 1DSoon - 2018-05-22 11:52 AM
Silly Filly - 2018-05-22 12:12 PM 1DSoon - 2018-05-22 9:45 AM Run specials all the time for 0% for 72
I just bought an '18 Laramie, super great rates, 1 easy payment and 0%
Never in my life have I seen 0% financing on a diesel crewcab dually. We must live in the wrong part of the country.
CASH speaks volumes  |
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 Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | lindseylou2290 - 2018-05-22 1:51 PM 1DSoon - 2018-05-22 11:52 AM Silly Filly - 2018-05-22 12:12 PM 1DSoon - 2018-05-22 9:45 AM Run specials all the time for 0% for 72
I just bought an '18 Laramie, super great rates, 1 easy payment and 0%
Never in my life have I seen 0% financing on a diesel crewcab dually. We must live in the wrong part of the country. CASH speaks volumes
Wait, you mean if you buy it outright, they don't charge you interest? Who knew? |
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Half-Eaten Cookies
Posts: 2075
Location: Fort Worth / Springtown | TheDutchMan01 - 2018-05-22 11:57 AM
txbredbr - 2018-05-22 10:50 AM
TheDutchMan01 - 2018-05-22 9:05 AM
I had a bad experience with Indiana Internet bank (Southwest Financing). I had newer credit though, but they still made me mad and it just wasn't a good experience. I won't ever even try to go through them again. My local bank gave me no issues.
Your best best is your local banks/credit unions. Talk to a real person that will actually help you. You can usually get a discounted rate if up have a checking account with them. Just call around and ask what their current rates are.
I had a good experience with Indiana Internet Bank (Southwest Financing )
Certainly not disputing your experience, though : )
My Bank - Wells Fargo - has NEVER been able to help me with anything except a high interest rate credit card (I think that is why I went through Southwest, that one time, because WF, for the second time, was unreasonable in their requirements.
On a used truck, one time, we got a check through Capital One- at the time, our credit was decent, but not great -- that was soooo nice, though, to be able to shop for a truck at a dealership and already have your financing secured. I can't stand the car salesman game.
The lady told me that I needed to keep opening credit cards and in a few years I might be able to get a loan. Very bad advice in my opinion. This was for a small trailer loan. She was very wrong...I got the loan somewhere else.
I have an auto loan through Wells Fargo dealer services. I didn't have any issues. Weird how that works lol
I agree. I don't like how they will run you through too many creditors if your not careful.
It IS funny how that works.....but you know someone mentioned her about using a current vehicle as collateral. Well, we MIGHT try that next time with WF - we didn't have any at the time.
I guess there are different types of criteria for different banks. I remember not being able to get a loan because I had no credit -- this was about 20 years ago and I paid $250 for a credit card with a $250 limit - it helped me establish at least some type of credit....although probably not much use for a home mortgage loan. |
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Location: in the ozone | txbredbr - 2018-05-23 7:39 AM
TheDutchMan01 - 2018-05-22 11:57 AM
txbredbr - 2018-05-22 10:50 AM
TheDutchMan01 - 2018-05-22 9:05 AM
I had a bad experience with Indiana Internet bank (Southwest Financing). I had newer credit though, but they still made me mad and it just wasn't a good experience. I won't ever even try to go through them again. My local bank gave me no issues.
Your best best is your local banks/credit unions. Talk to a real person that will actually help you. You can usually get a discounted rate if up have a checking account with them. Just call around and ask what their current rates are.
I had a good experience with Indiana Internet Bank (Southwest Financing )
Certainly not disputing your experience, though : )
My Bank - Wells Fargo - has NEVER been able to help me with anything except a high interest rate credit card (I think that is why I went through Southwest, that one time, because WF, for the second time, was unreasonable in their requirements.
On a used truck, one time, we got a check through Capital One- at the time, our credit was decent, but not great -- that was soooo nice, though, to be able to shop for a truck at a dealership and already have your financing secured. I can't stand the car salesman game.
The lady told me that I needed to keep opening credit cards and in a few years I might be able to get a loan. Very bad advice in my opinion. This was for a small trailer loan. She was very wrong...I got the loan somewhere else.
I have an auto loan through Wells Fargo dealer services. I didn't have any issues. Weird how that works lol
I agree. I don't like how they will run you through too many creditors if your not careful.
It IS funny how that works.....but you know someone mentioned her about using a current vehicle as collateral. Well, we MIGHT try that next time with WF - we didn't have any at the time.
I guess there are different types of criteria for different banks. I remember not being able to get a loan because I had no credit -- this was about 20 years ago and I paid $250 for a credit card with a $250 limit - it helped me establish at least some type of credit....although probably not much use for a home mortgage loan.
Having good (established) credit can make a world of difference in approval, rates, and what a lending facility will do for you. When we wanted to buy the last LQ, they had it approved in less than 24 hours & the check mailed but my credit score is well over 800. Also - you mentioned Southwest Financial - so thinking you dealt with them directly, not Internet Bk of IN. I did not realize SWF went through IBI and had applied at both - SWF people were NOT very nice, IB folks were great |
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Elite Veteran
Posts: 883
Location: Southern Indiana | slipperyslope - 2018-05-23 10:23 PM
txbredbr - 2018-05-23 7:39 AM
TheDutchMan01 - 2018-05-22 11:57 AM
txbredbr - 2018-05-22 10:50 AM
TheDutchMan01 - 2018-05-22 9:05 AM
I had a bad experience with Indiana Internet bank (Southwest Financing). I had newer credit though, but they still made me mad and it just wasn't a good experience. I won't ever even try to go through them again. My local bank gave me no issues.
Your best best is your local banks/credit unions. Talk to a real person that will actually help you. You can usually get a discounted rate if up have a checking account with them. Just call around and ask what their current rates are.
I had a good experience with Indiana Internet Bank (Southwest Financing )
Certainly not disputing your experience, though : )
My Bank - Wells Fargo - has NEVER been able to help me with anything except a high interest rate credit card (I think that is why I went through Southwest, that one time, because WF, for the second time, was unreasonable in their requirements.
On a used truck, one time, we got a check through Capital One- at the time, our credit was decent, but not great -- that was soooo nice, though, to be able to shop for a truck at a dealership and already have your financing secured. I can't stand the car salesman game.
The lady told me that I needed to keep opening credit cards and in a few years I might be able to get a loan. Very bad advice in my opinion. This was for a small trailer loan. She was very wrong...I got the loan somewhere else.
I have an auto loan through Wells Fargo dealer services. I didn't have any issues. Weird how that works lol
I agree. I don't like how they will run you through too many creditors if your not careful.
It IS funny how that works.....but you know someone mentioned her about using a current vehicle as collateral. Well, we MIGHT try that next time with WF - we didn't have any at the time.
I guess there are different types of criteria for different banks. I remember not being able to get a loan because I had no credit -- this was about 20 years ago and I paid $250 for a credit card with a $250 limit - it helped me establish at least some type of credit....although probably not much use for a home mortgage loan.
Having good (established ) credit can make a world of difference in approval, rates, and what a lending facility will do for you. When we wanted to buy the last LQ, they had it approved in less than 24 hours & the check mailed but my credit score is well over 800. Also - you mentioned Southwest Financial - so thinking you dealt with them directly, not Internet Bk of IN. I did not realize SWF went through IBI and had applied at both - SWF people were NOT very nice, IB folks were great
Yes this is why I mentioned both because Southwest uses IN internet bank and they did the same to me. I did not like that. I 100% agree on the credit. I got a late start building my credit and that was part of the issue (it was good but new), but the lady I spoke to was not very helpful nor gave any good advice. This was a few years ago. I'm slowly but surely working toward 800+ it just takes time and several accounts to get there. |
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Truck and Trailer Financing