Beginner’s Guide to Semi Truck Financing: How to Negotiate With Truck Salesmen

You’ve already consulted the internet regarding the size, weight, type, fuel spending, gearing ratio and mobility of a truck. You have the budget you are willing to spend on a truck and a trusted semi truck financing company by your side. You know the monthly expenses, including both repaying the loan or your monthly lease payment, plus running costs, insurance and maintenance. The next logical step is to visit truck salesmen and find the perfect truck for you.

Get Informed!

Explore the market and compare the prices of new and used trucks. You need to know how much any of these options would cost you, including how much money you are going to have to deposit, can you trade in your current truck, how much the repayments on your truck financing are going to be and for how long you are going to have to meet them. Compare wholesale prices online to the prices the dealership offers after they’ve added their margins. You have to know that the truck with the best price is not always the perfect deal. Learn how much the price of your truck will drop when it becomes second-hand.

Think Big!

When you have acquired all of the necessary information, it’s time to visit the truck dealers. It is highly recommended that you start with the biggest and most reputable salesmen, as they have a larger variety of trucks to offer. They are also more flexible as their business is bigger, leaving more room for negotiations. Because they are a larger company they can operate on much smaller profit margins that their smaller competitors as they have more purchasing power. Have two or three dealerships in mind so that you can be sure that you are looking at all the available options.

Set Your Own Terms!

Upon visiting the dealership look around as much as you can: open truck doors, have a peek at the insides, test out if the driver’s seat feels comfortable, inspect the designs and wait until you are approached by a salesman. Since you’ve already ensured your truck finance, you have the advantage here. Let the salesperson know that you can buy right away, but that you want to check all of your options first. Don’t let them know how much you are willing to pay right away and ask for the best offer and start the negotiations from there. You will have better options and can move downward as the price they pitch first will not be their best as well, which you can use to counter-offer.

The truck salesman has to work a deal so that both the dealership and the agent earn as much as they can. In order to get the best deal you need to do the opposite. Don’t refrain from walking away if you are not satisfied with the offer, and remind the salesman that you can buy right away if the deal suits you. As they have to sell the truck but you don’t have to buy it from them, you have all the advantage. Be unyielding in order to work out the best deal!

Financing a Semi Truck Has Never Been Easier!

At Go Capital, we help business owners achieve their goals and get the best truck financing across 50 states. We take pride in being a long-term financial partner to most of our clients. We care about the success of your business and we offer our expertise in trailer and semi-truck financing at the best rates. Contact us for any inquiries at (855) 396-3600 or through our website form.

Posted in Owner Operator Tips, Semi Truck Financing Tagged with: ,

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