If you’re ready to apply for financing now, fill out our secure online credit application here.
If you have general finance-related questions, call (801) 973-4040 to speak with our finance department.
Our finance team is dedicated to finding the best terms and rates for your semi-trailer, semi-truck, and yard truck financing. Unlike other dealers that may use their sales or accounting teams to handle financing, 1580’s finance team has decades of experience working on nothing but semi-trailer financing and general transportation equipment financing.
When you buy from 1580 Utility Trailer, our team of finance experts works on your behalf. We have relationships with banks and transportation industry finance companies across the United States, and we will work tirelessly to find the right fit for you!
Do I need a down payment?
Yes, a down payment of 5 to 25% is typical on a semi-trailer loan. A longer time in business, and stronger credit score are the key factors in getting the lowest down payment. Individuals and companies with 5 or more years of trucking experience can often get a 0 down payment on their loan.
How hard is it to get a loan for a semi-trailer?
We have and work with lenders for every credit situation. We want to find an excellent loan approval for all our customers. Having 2 years or more of driving experience, a strong personal credit score, and keeping your revolving debt (credit card) balances at less than 35% are key factors in credit approval and will always make your loan approval better.
What kind of credit score is needed to buy a semi-trailer?
Most lenders require a 680 or higher credit score, when offering the best approvals and lowest down payment options. We have several lenders ready to provide approvals for credit scores as low as 550. A higher credit score drives a lower down payment and rate on your loan approval.
Is it smart to finance a semi-trailer?
Buying your own trailer is a great choice. This allows you to maximize your revenue per mile and your tax deductions, while allowing you the freedom to take loads from various shippers on your time and schedule.
What is the interest rate on a semi-trailer?
Rates will vary according to your credit score, time in business, and payment history. Having 2 years or more of driving experience and prior commercial loans will help us find the best rate for you. A typical semi-trailer loan is between 7 to 15%. We work with our very best lenders to find the lowest down payment and rate, always.
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