Wednesday, December 31st, 2008
Can everyone qualify for a commercial trucks and construction equipment lease? Whether you have bad credit, little money or no down, a startup business or a business with little time in business, we are going to discuss how to get financing no matter what the situation is.
In today’s economy, lenders have changed their lending requirements as times have become worse. Many Americans are struggling to stay afloat with their normal bills and salaries and wages that aren’t rising. Additionally, many people have been laid off or fired because of employers either cutting back or going out of business. The blue chip companies of yesterday, Ford, Gmc truck, General Electric have seen their stock prices fall to new lows. High flying companies such as Starbucks are closing old non producing stores and reevaluating their future expansion plans. Federal back government agencies such as Freddie Mac and Fanny Mae have financial problems due to eroding lending portfolios and are now being assisted by the Federal Reserve…What does this all mean to getting financed in the commercial vehicle and construction industry….
Because banks recognize first hand that the U.S economy is in trouble, they have tightened their lending requirements in all industries. Many lending programs that were available yesterday are gone or changed dramatically that many potential customers will not qualify. Rates of interest charged by these lending institutions have jumped and more down payment money is required to start any lending program….The seasoned and startup business now must look at other alternatives in obtaining financing. Today, very few people have A+ Credit and must adjust their thinking based upon the times.
One of the unique facts that has occurred during this economic recession is the large number of repossessions and foreclosures. Banks are taking back homes, commercial trucks and heavy construction equipment back by the droves. These lending institutions must recondition these foreclosed and repossessed items and get them back into revenue income producing stream ASAP. Every day that these items that are sitting on the financial institutions they are losing money..
Obviously as financial institutions have tightened up their lending requirements for normal business, many people will not qualify for a new loan/or lease. As lenders have absorbed huge volume of repossessions, they have come up with alternative financing to get them back into their revenue stream.
For Americans that don’t have good credit, very little money available for a down payment or little or no time in business, these bank repossessions have created an opportunity for many. Prior Bankruptcies within seven years for many lenders are no longer a major stumbling block for the potential customers as long as credit has been reestablished. Today, lenders will look at Customers that have credit as low as 600 and into the 500s with special provisions. The market place today will offer customers as low as nothing down to deferred payments for 60-90 days on selected inventories.. Some lenders will even ignore the credit scores as long as the customer has healthy cash balances in the bank or a story to tell to explain past problems away. If you have terrible credit and very little money available down, some lenders will consider a financing arrangement as long as you have adequate additional collateral to put up such as other equipment, vehicles or real estate. Time in business and other mitigating factors that precluded you from a prior opportunity are now eliminated.
The types of items to be get financed in the above paragraphs are the following:
Dump trucks, garbage and water trucks, day cabs, over the road and semi trucks, boom trucks, box vans, bucket trucks, articulated trucks, concrete and cement trucks, fuel trucks, excavators, backhoes, bulldozers, forestry equipment, concrete pumps and concrete equipment, tow trucks, septic trucks, end and bottom dump trailers, flatbed and dry van trailers, etc
There are many alternatives in the market place to buy truck for sale, once you understand that normal lending probably isn’t your answer. In the repo market, credit is always important but not always the answer to everything. You have the ability to shop price and financing. Startup as well as seasoned businesses have any opportunity to acquire commercial trucks, heavy equipment and commercial trailers. The down payments, financing length, regardless of age, and terms may be more flexible than you think.
This is possibility a win-win situation both for the lender and the potential customer, whether startup or seasoned.
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Wednesday, December 3rd, 2008
The General Motors Corporation, formerly known as GMC Truck is a name that is very well known throughout the world. In 2007 this company was GM’s second largest selling vehicle division coming in close behind Chevrolet. GMC was originally dubbed the Rapid Motor Vehicle Company by Max Grabowski when he established the company in 1901. This was when some of the earliest commercial trucks for sale were designed. By 1909 the company was turned over to General Motors which then formed the basis for General Motors Truck Company.
Since that time GMC has been manufacturing trucks that are used throughout the world. Thought their personal and smaller vehicles are very popular, the trucks from this company are highly appreciated by truck drivers around the world. A book was released by GMC in 2002 that details the company’s history, their ups and downs and the process by which General Motors acquired the truck division.
The main commercial vehicle distribution is in vans, light duty and medium duty trucks although fire trucks, ambulances and heavy duty trucks and buses have been manufactured under the GMC Truck name in the past. Although GMC and Chevrolet trucks are virtually the same they do have some distinctive differences that have survived throughout the years. The trim, engine options and typically the price are a few of the differences that are very evident between the two. Once the production of the quad headlight designs were halted, the two truck brands became even more similar, much to the point of confusion for many drivers.
Of course serious truck drivers will know the difference immediately. While Chevrolet trucks for sale have a distinct look about them today, GMC commercial trucks will always bear the same quality that has endured form more than 100 years. Drivers who choose this brand of truck are typically not easily swayed to other models. With features ranging from standard power outlets and cruise control on the inside to heated and lighted mirrors, running lights and roof mounted air deflectors on the outside, General Motors is producing top of the line trucks that all drivers are proud to sit in and drive. From the smaller personal sedans and SUVs to the heavy duty freight haulers, these trucks have withstood years of history to become one of the top chosen truck brands for truck drivers everywhere. It is not completely surprising that the GMC name has become somewhat synonymous with commercial driving.
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Wednesday, November 5th, 2008
All transportation companies need an operating authority issued by the former Interstate Commerce Commission (ICC) which is now maintained by the Department of Transportation (DOT). You as a trucker also need this operating authority. For commercial trucking and commercial truckers it is an unavoidable permit or authority. When you carry commodities over different state lines, you need this ICC authority along with truck Insurance and Cargo Insurance. While getting the ICC authority check with your home state rules and regulations. Your home state may have some regulation regarding loading and unloading of the items. For truckers an ICC authority means you have a permit to carry different items and goods within state and interstate.
Now instead of the ICC, ICC authority applications are handled by two agencies under the USDOT. To get ICC authority, you do not need any experience; you just need to apply for it. ICC authority decides which companies are permitted as truckers/carriers. It also decides the service that these companies will offer and the charges that they can take from the customers.
ICC authority means Operating authority. ICC refers to Interstate Commerce Commission. ICC authority now means federal operating authority that looks after the rules governing transport companies for hire across the different state lines.
ICC authority is a term used to mean a legal permission or a business license. This is granted by a federal or state transportation governing agency. This permit or license is needed by the for hire transportation agency or the truckers.
According to the law, if you are a trucker, you should have a ICC operating authority. If you are operating new or used commercial truck might be Ford commercial trucks, Kenworth commercial trucks, Peterbilt commercial trucks, GMC commercial trucks etc without the ICC authority, then you are really taking a big risk.
It is better not to operate till you get the authority. When you, as a trucker, operate within a specific commercial zone then you can operate without such authority but if you plan on going beyond this zone then make sure that you have the authority to.
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Monday, October 20th, 2008
Getting the right deal on your Truck Insurance has improved thanks to the Internet. You can now get commercial truck insurance and truck insurance quotes anytime and any place. The Internet caters to your needs 24/7. The accessibility of getting truck insurance U.K based means that any truck driver can have their vehicle insured quickly and safely. Whatever your need to have any truck insurance quotes, from commercial truck insurance for haulage and smaller vans to specialised fields such as recovery truck insurance. You will find all the policies available online and you will get the Truck Insurance policy that is right for you.
Why should you take out HGV Insurance? The advantages of being out on the road and knowing that your vehicle is insured is a great comfort. You can have your truck insurance U.K work for you whenever there is an accident and can protect your business from undue harm.
There are over 250,000 road traffic accidents on our roads each and every year. So you will be glad that you have commercial truck insurance if it happens to you. You’ll be even happier to know that the driver of any recovery truck insurance keeps them safe as well. Their insurance protects your vehicle from damage. Truck Insurance is a lifeline and a great support for any road user who drives a truck might be a heavy duty, light duty, pick up, Ford truck, GMC truck, Peterbilt truck, Isuzu truck etc. You must have the right truck insurance quotes for policies that fit your needs and you can do it all with the click of a mouse.
Truck Insurance is easy to access with the Internet and their are hundreds of insurance firms and brokers who are willing to help you get the best deal on your truck insurance quotes. Any specialised insurance details, like if you need recovery truck insurance, can also be obtained and there are many different policies to suit.
Commercial truck insurance providers are mainly for the large fleet vehicles and businesses that require a larger amount of comprehensive cover for all company vehicles. This doesn’t mean that smaller businesses will be left without Truck Insurance, you just have to find the right policy. Getting the right HGV Insurance quote for your companies needs is easy to do if you take the advice of the professionals that work for the online Truck Insurance sites and the related brokerage firms. You can find that the online Insurance providers have done all the hard work for you and have compiled lists of over 450 individual policies that can be tailored to suit your commercial vehicle needs. Getting Truck Insurance has never been easier.
The contract of Truck Insurance will mean that both you and the insurance provider will agree to set terms for the eventuality of an accident, fire or theft. The insurer will specify how much you are to pay for your policy and in return they will provide you with a level of service.Truck Insurance protects you and other road users against risk. Getting the right deal can mean the difference between a growing business and financial strain.
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Friday, October 3rd, 2008
GMC earlier announced its intention to lure the medium duty truck market to go for gasoline engines instead of diesel units. In this regard, the automaker will be renaming a company website that touts medium-duty gasoline engines as an excellent alternative to diesel engines. However, critics in the industry are saying that the strategy seems so strange.
The change of domain name occurred when GM was battling the notion that it is behind the Toyota Motor Corp. and other auto giants with regards to production of eco vehicles. GM launched the website to pump up sales of its medium-duty gasoline engines, which cost anywhere from $6,000 to $15,000 less than its diesel counterparts.
The website gives reasons why people should shift to gasoline engines. For one, gasoline engines cost less than diesel engines. They are also more universally available, easy to service, have fast cab heater warm-up and a good solution for lower-mileage applications. Gasoline engines are also quiet in operation. The site also provides a calculator that suggests how much a customer could save in purchasing a gas engine over a diesel.
GM is capitalizing on the difference to sell more gasoline engines over diesel for commercial trucks. The website touts gasoline engines used in dump trucks, ambulances, some large trucks, and U-Haul moving vans. It also offers potential customers a coffee mug worth $10 if they ask information about gas engines.
GM is currently working in a partnership with other companies like QUANTUM Technologies, Inc. and General Hydrogen to further its engines, strut mount and other auto parts. Automakers are continuously upgrading their auto parts and accessories. Toyota, the world leader in hybrid manufacture is entertaining more innovations. Auto parts like Volvo and Ford engines are also showing different levels of sophistication. Hence, GM, as the leader in the field must be cautious about the mounting competition.
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Thursday, October 2nd, 2008
With the current drop in new pickup truck sales and the steadily north moving gas prices finding and buying a used pickup truck for sale has never been easier for you. All makes, models, and versions of used pickup trucks have suddenly glutted the market for second-hand trucks.
So, you have a wide choice of pickups like Ford trucks, GMC trucks, Chevrolet Trucks, Dodge trucks etc to choose from and you can even effectively bargain the amount that you need to pay for it. All in all it has now become a buyer’s market, whereas not so long ago it was entirely in favor of the sellers.
It would seem to you as if the sellers are simply jettisoning their pickup trucks at whatever costs they are able to sell them at. However, they all have good enough reasons to do that. Moreover, different categories of Americans have different reasons for putting up their used pickup truck for sale.
Extremely rich Americans have resorted to selling off their first hand pickup truck simply to buy the latest new pickup truck that they have taken a fancy to. Skyrocketing gas prices can never seem to have an effect on them and neither does the amount of money they get back as the sale value. They are too rich to harp on such minor matters. They do not even baulk at having to sell their used pickup trucks at hefty discounts.
For some of the gas price conscious first hand pickup truck owners, selling is a decision they have taken because they never actually needed a pickup truck. They had bought pickup trucks because they thought these vehicles can potentially serve multiple needs. They used their pickup trucks mainly as a car, but earlier they could afford the high amount of gas the vehicles consumed because gas prices were then much lower.
Now that they have factored in the current gas price increases, they find they can no longer afford to use the gas guzzling pickup trucks. They have deduced that in the current situation, shifting to a car would cut down on gas costs and not take away anything from a usage point of view. This category of sellers can also be coaxed by you into selling at substantial discounts.
The other category of gas price conscious first hand pickup truck owners comprise those who actually used their trucks mainly as a pickup rather than as a car. However, gas prices having reached new highs, they are constrained to sell off their trucks even at a discount, because they can no longer afford to pay the cost of the fuel.
However the despondency in the new pickup truck sales together with the high gas consumption costs should make you, as a buyer of a used pickup truck for sale, wary of gas guzzlers. You need to focus your purchase on the really fuel efficient models.
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Tuesday, September 30th, 2008
The pickup truck has long been a mainstay of American byways and highways, and GMC has been there from day one. Originally used and respected by farmers, construction workers and small-business owners, GMC’s hauler was a basic workhorse known for its reliability and longevity. More recent times have seen GMC’s full-size truck adopt the name Sierra, which was previously an upscale trim level.
As with its rivals, the modern-day GMC Sierra 1500 full-size pickup is available with a wide variety of body styles, powertrains and trim levels. Thanks to this flexibility, the half-ton Sierra pickup is just as adept at serving as the weekday family car as it is at transporting home-improvement supplies or towing a boat on the weekends.
Older versions of the GMC Sierra 1500 pickup have been praised for their strong work ethic, but soundly criticized for their bland, often overly plastic-endowed cabins. With the current model, fit and finish has improved to the point where the Sierra now stands proud in that area. Of course, there are other choices in the full-size pickup truck market, but the half-ton GMC Sierra remains a solid pick no matter what the intended use.
The current GMC Sierra 1500 truck for sale, is much improved over the past version in terms of cabin materials and build quality. Where there was once an abundance of lackluster design, hard plastic and uneven panel gaps, there’s now richly grained upholstery, softer materials and precise fitments. The lineup offers three body styles (regular, extended and crew cabs) and trim levels ranging from no-frills “Work Truck” to ultra-plush Denali. The most popular trim is the midlevel SLE, which provides most features people want as standard, including air-conditioning, full power accessories and a CD player. A recent addition to the lineup is the rugged “All Terrain,” which is essentially a fancier version of the Z-71 Off-Road package.
Past GMC Sierra 1500 models :
Most of these pickup trucks considered by used-vehicle shoppers will be the previous-generation truck, which was sold for the 1999-2006 model years. Underneath the handsome styling, a family of new V8s debuted, ranging in size from 4.8 to 6.0 liters. They offered output ranging from 255 hp with the smallest 4.8-liter, to 345 hp from the high-output 6.0-liter V8 in the Sierra Denali. A base V6 was also available, but as expected, most Sierras came fitted with one of the V8s. A unique four-wheel-steering option (called QuadraSteer), came on-line about midway through this generation and cut the truck’s turning circle down to 37.4 feet — around 10 feet less than a typical full-size pickup. Unfortunately, QuadraSteer was discontinued for 2006, as buyers were put off by the high cost of this option.
Consumers more interested in function than flash should be happy with a half-ton Sierra from this era. The truck offered plenty of performance and work capacity, but was hampered by a dated cabin design fraught with cheap materials and below-average fit and finish.
The previous generation of GMC Sierra 1500 pickups ran from 1988-’98. Standard cab and extended cab body styles were offered, as was a crew cab, though the latter was actually from the previous 1981-’87 generation. Although six-cylinder and diesel V8s were offered, chances are strong that most GMC trucks from these years will have either a 5.0- or 5.7-liter V8 mated to a four-speed automatic. In keeping with tradition, one could choose either rear-wheel drive (indicated by a “C”, e.g. “C1500″) or four-wheel drive (indicated by a “K”). Trim levels for these C/K1500 trucks include the bare-bones Special, base SL, midlevel SLE and top-line SLT. Strengths of these new and used trucks include powerful, durable powertrains while weaknesses center on sketchy build quality and subpar materials within the cabin.
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