There was a time when buying a used semi-truck was simple. If the truck had fewer than 700,000 miles, no blow-by, clean oil, and no knocking, you could feel confident it was a good purchase. Chances were, you would get 1,000,000 to 1,500,000 miles out of it with little risk.
Those days are gone.
Modern trucks equipped with advanced emission systems simply do not last as long. If you are buying a truck with more than 500,000 miles today, you need to be prepared for an engine overhaul in the near future. Without planning ahead, this can quickly turn into a costly mistake.
How CAG Truck Capital Helps Owner-Operators
CAG Truck Capital is the nation’s leader in engine overhaul financing, recognized and recommended by more than 2,800 dealers and factory-certified facilities. The company is staffed with skilled diesel technicians and experienced Class 8 truck experts who guide owner-operators through both truck purchases and the complexities of engine overhauls.
Having financed thousands of overhauls, the CAG team has an unbiased understanding of which engines are most reliable, which tend to require overhauls sooner, and which models should be avoided.
When financing an overhaul, the CAG team carefully reviews the estimate to make sure all critical parts are replaced, no essential steps are missed, the warranty offered is the highest available, and that pricing and discounts are fair. This protection is vital because service writers at dealerships may not always be fully familiar with your specific engine manufacturer’s recommendations for overhauls and warranty coverage.
What CAG Looks For Before You Buy
Before you commit to a truck, the CAG team can help uncover potential risks by reviewing important factors such as:
- Vehicle Identification Number (VIN): Unlocks valuable details about the truck if you know where to look.
- Modifications: Has the truck been converted from factory specifications, such as a sleeper to day cab or dump truck?
- Region of Registration: Was it a southern truck, or one from northern climates where salt and cold weather cause excessive wear?
- Collision History: Has the truck been involved in accidents?
- Ownership Records: Frequent title transfers often indicate a problematic truck.
- Accident and Engine History: Through CAG’s network of more than 2,800 service shops, detailed records are available.
- Engine Specifications: Horsepower, torque, and fuel consumption must be appropriate for your application.
- ECM Report (Electronic Control Module): Reveals hidden fault codes and recurring issues.
This level of due diligence helps ensure you do not buy someone else’s problems.
Hours vs. Mileage
Mileage alone does not tell the full story. A truck with relatively low miles may still have significant wear if it spent thousands of hours idling in city operations or oil fields.
CAG verifies both mileage and engine hours to calculate an accurate wear ratio so you do not end up overpaying for a truck that only appears to be a good deal.
The Perfect Loan Structure
The number one reason owner-operators fail is not lack of work, it is being unprepared for catastrophic engine failure.
Modern engines often require a complete overhaul between 500,000 and 700,000 miles. If your loan is not paid off by then, you are in trouble. This is why the structure and length of your loan are just as important as the truck itself.
At CAG, loans are structured so that trucks are typically paid off before overhaul time. This gives you two smart options when the overhaul becomes necessary. You can trade the truck for a newer, lower-mileage model, or you can finance a certified engine overhaul with CAG. With the latter option, your truck receives a zero-mile engine that comes with a one to three year nationwide manufacturer’s warranty. You end up with a truck that is essentially like new for a fraction of the cost of replacement.
While many lenders push long loan terms to maximize their interest income, CAG takes the opposite approach. By aligning loan terms with the life expectancy of your engine and being ready to provide overhaul financing when the time comes, CAG Truck Capital puts owner-operators in a position to succeed.
The Bottom Line
Buying a semi-truck today is not as straightforward as it once was. With the right loan structure, expert guidance, and a financing partner who understands the realities of modern engines, you can protect your investment and build a successful business for the long haul.
CAG makes Semi-Truck Financing Simple. Easy truck financing with bad credit, great credit, and everything in between!
