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Peterbilt trucks are a popular business, as these versatile vehicles can be used for a wide variety of medium-duty and heavy-duty tasks – including transportation, haulage, mixing, equipment support, rigging and winching, and many other miscellaneous jobs. In Edmonton they are extensively used in the oil services and oil support sectors, as well as in the ever busy construction and transport sectors.
Individual owner-operators and companies in Edmonton depend on Peterbilts because of their high quality, reliability, and longevity, and many seeking new Peterbilts for their business rely on financing to fund their truck investment. Whether you are searching for a new or used Peterbilt truck, finding the appropriate financing for your needs and circumstances is made simpler with Smarter Loans.
At Smarter Loans we work with some of the most reputable Peterbilt truck financing companies in Edmonton to provide you access to a wide range of possible financing options.
Below you’ll see a list of companies that specialize in Peterbilt truck financing, together with their information and typical rates. You can choose a lender from this list, or pre-apply with us so we can help you determine the best loan option for you. And if you have already found a Peterbilt truck in Edmonton to purchase, then you can apply for your loan immediately, using the “Apply Now” button next to the company of your choice.
Over 14,000 people work as transport truck drivers in the Edmonton area, making it the largest job market for truck drivers in the province. The majority of work is in the following sectors:
As the coal industry is in decline in Alberta in general, many of the new trucking jobs in Edmonton and surrounding areas are in the growing oil sector, which has been a spike in truck transport use because of pipeline restrictions.
As a major east-west transportation hub and centre of Alberta’s oil industry, Edmonton hosts a range of trades that rely on different models of Peterbilt truck. These include:
Edmonton truck drivers in the warehousing and transportation industry choose 579 and 389 Peterbilt truck models. The Peterbilt 579 and 389 are Class 8 heavy trucks powered by either Cummins ISX or PACCAR MX engines. The main difference between these 2 models is in their styling; the 389 maintains a classic Peterbilt look while the 579 is more aerodynamic, for better fuel efficiency suited for long-distance transportation.
Edmonton construction sector uses mixer trucks, cranes, dump trucks, flatbeds and others based on the vocational Peterbilt 567 (available from 2015 to present) which is extremely adaptable for a variety of tasks, or the medium-duty 348 (available from 2009 to present) which is customizable for both Class 7 and Class 8 configurations.
The oil and gas sector uses specialized Peterbilt heavy trucks for various tasks related to extraction and transport. Companies in Edmonton use Peterbilt vacuum trucks, tanker trucks, swab rig and winch trucks, all of which are based on Peterbilt models 348, 367, 357. These are all adaptable and reliable trucks, usable in any conditions.
Finding work as a truck driver in Edmonton means relying on one of just a few main industries: construction, short and long-haul transport, warehousing, or oil. As these sectors wax and wane in demand, so too do the available jobs. Currently, truck drivers are in demand in the following areas in Edmonton:
To obtain a commercial truck driver’s license (Class 1 or Class 3) in Edmonton, you must follow the same procedure as everywhere else in the province. To be eligible for a license, you must:
The primary place to buy new and used Peterbilt semi-trucks in Edmonton is the official Peterbilt dealership, which has a location downtown as well as full service locations in nearby cities. These carry the full line of Peterbilt trucks, accessories and services. You may also find used Peterbilts for sale in Edmonton at the variety of other heavy truck dealerships in the city; however, as they are not official dealers, their inventory may be incomplete. Buying heavy trucks online has also been growing in popularity, and there are a selection of companies offering both sales and auctions of Peterbilt vehicles.
Peterbilt service in Edmonton is primarily provided by the authorized Peterbilt dealership, which is staffed with Peterbilt licenced technicians who can offer you the best repair and service possible. They can offer Peterbilt parts and truck maintenance for your entire Peterbilt fleet. There are a few other parts suppliers in Edmonton, and many independent companies which will be able to supply Peterbilt trucks maintenance. However, only the official dealership can provide you with official Peterbilt special service plans, such as TruckTech+, which allows for constant monitoring of the health of your vehicle or your fleet, so that tailored preventative maintenance can be performed – saving you money in the long run.
New and used Peterbilt trucks are available in Edmonton at costs comparable to the rest of Canada – partly thanks to the growth of online marketplaces for the purchase of trucks. The price of a new Class 8 Peterbilt starts from around $185,000, but can increase to over $500,000 for more versatile or higher spec models (for example models 389 and 579, which are popular in the Edmonton transport sector).
The used market offers many bargains, especially as Peterbilts are known for their long-term reliability. For example, in Edmonton, a 5 year old 367 costs from around $150,000, while similarly-aged 348s are available from $240,000. Both of these models are used in Edmonton’s oil and gas sectors, but their price differential reflects the differences in model and condition. It’s worth noting that high end Peterbilt trucks hold their value well, assuming constant maintenance, as they provide years of hassle free use.
If you are buying or leasing a Peterbilt truck from an Edmonton dealership, you may be able to access truck financing through them. Dealerships work with a range of financing companies (like banks and credit unions) to aid their customers in obtaining financing. Your approval with these companies will depend on a few factors, including the type of provider, their company policies and requirements, and your own personal financial and business circumstances. The variety of options means that you may be faced with a range in interest rates and loan amounts.
Increasingly, truck buyers are seeking pre-approval online to finance their impending truck purchase. This is a convenient option as it means you can do a lot from the comfort of your own home, and access the many companies that now specialize in truck financing, rather than just the few your dealership is connected with. It’s also a worthwhile route if for any reason you are unable to access financing through your dealership, as the availability of non-standard loans will be greater online.
It is possible to get financing for a fleet of trucks, thanks to the companies that specialize in truck financing. They offer a variety of loan options to buyers in Edmonton and across Canada, including loans for the purchase of multiple trucks or trailers. If you are looking to expand your fleet and want to understand your financing options, inquire with a local Peterbilt dealer, or check online with one or several of the truck financing companies. The types of loan and amounts that are available to you will depend on the lender you apply with, their eligibility criteria, and your business’s circumstances.
It is possible to get Peterbilt truck financing with bad credit, though it may mean higher than average interest rates or other restrictions in the loan terms. Many people find hunting for bad credit options difficult and time-consuming, but there are plenty of companies that work with borrowers with low credit scores (for example, a score of less than 600). These companies exist to make truck financing available, based on special loan terms.
At approximately $26.3 per hour or $54,704 per year the average salary of truck drivers in Edmonton is one of the highest in Canada. This salary is above the average truck driver salary of $26 in the Province of Alberta and of $22.9 per hour across Canada.
Qualifying for Peterbilt truck financing in Edmonton usually starts with meeting some basic eligibility criteria. You typically must:
After meeting these requirements, borrowers must also pass through some lender-specific hurdles, relating to:
While a solid financial history means access to preferable loan terms, borrowers with poor credit or a chequered financial past still have truck financing options available to them.