Can you finance an equip. trailer?

[Oxjockey]

Hi all,

I was considering buying a car hauler/equipment trailer, but I was wondering if financing is commonly available for these things? They run $2000-$4000 new, but I'm just curious as to payments, etc. If I can finance a PC, I should be able to finance a trailer!



Bryan

 

[TboneMan]

Lending institutions would likely consider this under a "personal loan". These loans typically carry a higher interest rate than autos, RV's or other capital goods.





I bought a large garden tractor with some attachments several years ago (in the $7000 range). I'd hope the instution would treat this like a boat/motorcycle/snowmobile, but they didn't. I ended up paying the high personal loan interest rate. :{

 

[Morphious]

It depends on who you deal with I guess... . I have my 26' gooseneck financed by my back through my farm. But I also know that the trailer dealerships can do financing as well. You will just have to shop around and see what you can find and if they do financing.



Morph.

 

[paesan]

I financed my Wells Cargo ($7900) trailer thru my bank (Centura) who gave me a year ago 7. 49 . Wells Cargo wanted 7. 99 . A highly believe that a trailer is like a car, since they wanted insurance for it and they hold the title.

Lots of trailers company have many financing options you might wanna look around.

 

[Oxjockey]

That sounds good. I'm sure if I go looking, I'll find one I can't quite afford, so we'll have to see how they work it. Of course, I could always try and find a used one.



I don't see why, if it's titled, they wouldn't use it as collateral. We'll have to see.



Thanks folks! #ad




Bryan

 

[bighammer]

Put a tent on it and call it 2nd home. Get creative.



We'll be right behind you.

 

[jimk]

I usually shop for rates just like you shop a truck. The better you credit rating is the better the rate. Dont let the bank bs you. I allway get the best rates or I go else where. Although not a good idea can you borrow against your savings at work. I bought a car once on a credit card with the a year interest free. Right before the end of the year I payed the car off. I have a credit cards all the time and I DONT carry a balance. However if you wont a interest free loan that might be a way to go, just dont get caught in the trap. Jimk

Originally posted by Oxjockey

Hi all,

I was considering buying a car hauler/equipment trailer, but I was wondering if financing is commonly available for these things? They run $2000-$4000 new, but I'm just curious as to payments, etc. If I can finance a PC, I should be able to finance a trailer!



Bryan

 

[Oxjockey]

So far, I've found that you can finance Featherlites for 1 to 6 years. I'm looking at other steel trailers and can only assume that financing is available. I'll keep you posted.



Bryan

 

[GFoley]

Oxjockey,



You're likely to need 1(-)6 years to pay off a Featherlite. I think the name came about because they can make your pocketbook feel "feather-light". I lived in MN and was looking for an enclosed trailer. I looked at Featherlite, Wells Cargo, Haulmark, and others. The Featherlites were not lined and had aluminum floors. This was too thin skinned on the sides and made for a slippery floor. By the time I was able to spec out an alluminum unit w/ a 10,000# rating it weighed as much as a steel framed trailer. I would up w/ a 26" Haulmark Elite II. The floor, wall, and ceiling members were all 16" O. C. Something the others were not.

In the end I financed it w/ my credit union. I was handled like an RV trailer at the appropriate APR. I liked it and would look at them again if I ever need one again. The only advantage I could find w/ an aluminum Featherlite would be its ability to fight rust. That alone was not enough to justify the additional cost and its unlined walls.



GLF

 

[Oxjockey]

The rough price I got on a Featherlite was not that much more than other trailers. I'm not looking for something enclosed, and the price he through out was $4000. Really not bad, but this was at a county fair, not in his showroom really talking numbers. I was suprised to say the least, and if it's within $1k of a steel trailer, I'd have to go with the aluminum one.



I didn't think about it being slippery, though, that's a good point.



Bryan