Is Long-Term Truck Financing Crazy…or Viable?

Others only finance to get the best deal, which is unfortunately the way things go these days.

“I financed the last one for two weeks to get the 1K rebate, cost me 20 bucks,” said jnphobe. “I will do 12 or 24 months on the new one because the bank says I don’t have verifiable credit. And here I thought CASH was king.”

LiquidSteam also rightfully points out that interest rates matter in cases like these. And if you’ve got stellar credit, borrowing for car loans is often dirt cheap.

“It depends on the interest rate. Obviously, if you can finance for a rate lower than your money can earn somewhere else, then finance for as long as possible. I financed for 1.9%. I can get a guaranteed 3.5% rate of return on my annuity, so it would be stupid to pay off the truck.”

All of which are fantastic and valid points about truck financing. But we still want to know what you think! Head over here and check out the pages of awesome information, then add your own thoughts to the mix!

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Brett Foote

Brett Foote has been covering the automotive industry for over five years and is a longtime contributor to Internet Brands’ Auto Group sites, including Chevrolet Forum, Rennlist, and Ford Truck Enthusiasts, among other popular sites.

He has been an automotive enthusiast since the day he came into this world and rode home from the hospital in a first-gen Mustang, and he's been wrenching on them nearly as long.

In addition to his expertise writing about cars, trucks, motorcycles, and every other type of automobile, Brett had spent several years running parts for local auto dealerships.

You can follow along with his builds and various automotive shenanigans on Instagram: @bfoote.