Truck Financing Guide

A truck is a huge asset to have, whether you’re a major organization or a private owner-operator. However, obtaining the funds to purchase a truck isn’t always as easy as it sounds. That’s why many prospective truck owners turn to financing. If you’re interested in learning more about truck financing, check out this guide from the experts at DTI Trucks.  

Prep

We recommend doing some prep work before applying for a truck loan. True, the requirements to qualify for truck financing aren’t very stringent, but having a better credit score or a lower debt-to-income ratio can result in lower interest rates and other benefits. Taking a few basic steps to improve your credit score can go a long way toward improving your truck financing experience.

Budget

While financing can help make purchasing a truck more affordable, that doesn’t mean that you should skip out on budgeting. Most truck loans are secured, meaning that your truck can be repossessed should you fail to make your payments too many times. While paying more per month is usually the better option, the last thing you want is for those payments to become too much of a burden. It’s also important that you don’t forget to account for extra costs like insurance and maintenance in your budget. Many prospective truck owners have paid the price when they forget to include these additional fees in their budget calculations. 

For more information about truck financing or to view our inventory of trucks for sale, check out DTI Trucks at either of our dealership locations, including Denver and Wheat Ridge, Colorado. We also offer truck parts, servicing, transportation, fabrication, towing, and rentals.