What Is A Class 8

Class 8 vehicles are defined as any vehicle with a gross vehicle weight rating of anything above 33,000
lbs, including most tractor trailers. According to Ward's Auto July 2014 report, nearly all Class 8 brands
“enjoyed double-digit gains as their sales jumped 17.8% to 18,793 units, compared with 15,340 a year
ago. The report noted that Mack led all brands by scoring a 45.2% gain and driving its share up to
10.0% from 8.1%, compared to the year before. It was also reported that both Kenworth and Peterbilt
as well showed “solid gains” of 23.9% and 17.2%, respectively. ACT Research reported that sales of
used class 8 trucks was up 2% in July month over month, though down 5% year over year. Still, overall
sales for 2014 are expected to climb by 10%. This makes the prospect of financing a class 8 vehicle
enticing to many saavy businesses. Financing a class 8 vehicle can be an intimidating experience, yet a
necessary one when it comes to expanding your fleet, updating equipment, or launching a new business
endeavor. In order to make the most prudent decision, it helps to work with a financing company that
has the experience and knowledge base to guide you through the financing process, and ensure that you
are aware of all of your options. Financing a class 8 vehicle can allow you to maintain a competitive
business edge, while protecting cash stores, especially with some commercial vehicle costs soaring
upwards of $250,000. This fact is also what makes financing a used class 8 vehicle so attractive for
businesses and owner operators. Of course, every scenario is unique in terms of the type of class 8
vehicle necessary for operations, and the dollar amount allocated to the expenses of adding vehicles to
the fleet. Some companies are able to meet their needs within a lower budget, with less technology
necessary to meet their goals. Other companies find that the demands of business are so great that they
need the most cutting edge features a commercial vehicle can offer to stay ahead of competitors. This is
what makes flexibility so important when it come to class 8 vehicle financing. One size does not fit all,
and it takes a certain amount of finesse on the part of the lending company in addition to a strong
partnership with the client to arrive at the best possible financing solution. Identifying the priorities of
the business is half the battle. Some operators of class 8 vehicles are exceedingly dedicated to the
environment, necessitating a certain amount of due diligence in researching vehicles that can offer
fewer emissions, fuel efficiency, and perhaps even alternate fuel or hybrid capabilities. Other
businesses find that longevity is their bottom line for grueling projects and demanding work
environments. Sometimes, it can be difficult to tease out these important needs, which is something an
experienced financing company should be able to help with. Based on this framework, narrowing down
lending options can be as simple as completing the application process, running the numbers, and
working out monthly costs.