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, GM, 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 books 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.

The types of items to be get financed in the above paragraphs are the following:

Dump trucks, mack 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.

Many lenders have application only programs that don’t require financial statements, tax returns or bank statements. These financing programs could lend as much as $250,000 for seasoned businesses. Available credit on other repo programs could run as high as $100,000 for a startup business. Some lenders may require full documentation packages which shouldn’t be a hardship for a person that can now get into the financing arena.

There are many alternatives in the market place, 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. Startup businesses have a good opportunity to enter this market and not have to put 20-30% down, regardless of credit.

This is possibility a win-win situation both for the lender and the potential customer, whether startup or seasoned.

The struggle with maneuverability large trucks have makes them prone to accidents. In accident situations, they have trouble with avoidance, often being unable to stop or swerve in time to escape contact. This is why it is of utmost importance to maintain a safe following distance behind a semi truck. Because of its large size, an automobilist cannot see around and view what hazards might lie on the road ahead. Following too closely puts a motorist in danger of anything that might arrive in an instant. Because of the added height and power of a semi truck, it is able to run right over many things an automobile cannot. Construction materials such as two by fours, traffic cones, chains, and other debris are no danger for a high-riding truck. An automobile, however, can lose control when striking many of these unexpected objects. A good distance to maintain behind a semi truck can be gauged by the ability to see the driver’s mirrors. If you can see the driver’s mirrors you are much safer, because this means he or she can see you as well. Remember, a rear ender with a high-riding truck is much more dangerous because your front bumper and its rear will not match up. A car is most likely to run up under a large semi, leaving the auto driver vulnerable to a caved-in windshield due to the force of impact. A good rule of thumb for a safe following distance behind a tractor-trailer is at least six seconds. This gives you as an automobile driver an ample amount of time to swerve and avoid accident situations should they arise.

Knowing how to follow safely behind an eighteen-wheeler can help protect you in an accident situation. Should an accident occur, every motorist needs to protect their rights, and acquiring a lawyer who will make sure you receive due compensation is very important. Safe driving protects you before an accident; a personal injury lawyer’s job is to protect your rights after one.

Nissan’s commercial vehicles will compete with the likes of the Ford commercial trucks (E-series), Chevy Express, Dodge Sprinter, and other light- and medium-duty trucks. In 2007, Dodge, Ford, Chevy, and GMC sold 325,744 full-size vans, a drop of 8.4 percent from their 2006 sales.

Dominique states that Nissan’s light commercial vehicles will range from “full-size vans, small vans, different pickup truck variations, ambulances. It could be buses in the future.” Because the Canton plant currently produces the Nissan Titan pickup truck, Nissan will have Chrysler LLC develop and assemble the next-generation Titan. Once production of Nissan’s new commercial vehicles begin, Nissan and other interested dealers will be signed up to sell the vehicles within the next four months.

Dominique says that Nissan light commercial truck sales are strong in Japan and Europe and are growing in China. In Japan and Europe, the commercial vehicles are branded the Atlas and Atleon. With a strong base out of Japan and Europe, “the U.S. is one of the last untapped markets for Nissan,” according to Dominique.