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Interest in purchasing Peterbilt trucks is growing in the city of Kitchener, Ontario. Peterbilt trucks are very popular, as these versatile vehicles can be used for a wide variety of medium-duty and heavy-duty tasks – including equipment support, transportation, haulage, and many other miscellaneous jobs, particularly in the city’s booming construction and manufacturing industries.
With Peterbilt on-highway trucks also needed daily for shipping and warehousing, there is always demand for this brand – and individual owner-operators and companies in Kitchener depend on their Peterbilts because of their high quality and reliability.
Here at Smarter Loans, we work with some of the country’s most trusted truck financing companies to help you identify your financing options, to aid in the purchase of your new Peterbilt. Whether you are searching for a new or used truck, we can help you to locate Kitchener’s best deals for Peterbilt truck financing.
Below you’ll see a list of companies that specialize in Peterbilt truck financing. If you have already found a Peterbilt truck in Kitchener to purchase, then you can apply for your loan immediately, using the “Apply Now” button next to the company of your choice. Or pre-apply with us, so we can help you find the best loan option for your circumstances.
Over 11,000 people work as transport truck drivers in the Kitchener area. The majority of work is in the following sectors:
As so many of Kitchener’s trucking jobs are related to trade and manufacturing industries, the job market is quite sensitive to economic conditions, within the province and across Canada as a whole.
The current construction boom in Kitchener means that vocational vehicles operated by construction firms dominate the newer trucking landscape, but the area also depends heavily on Peterbilts utilized in the transportation sector.
Kitchener truck drivers in the transportation and warehousing sector prefer Peterbilt truck model 579, available from 2012 to present. This highly efficient Class 8 heavy truck can be powered by either a PACCAR MX or a Cummins ISX engine. It is styled a little differently from other Peterbilts to increase its fuel efficiency and performance on the open highway, making it ideal for long-haul transportation. The 389 (available from 2006 to present) is also a popular Class 8 heavy truck for the highway, with more traditional styling but the same engine choice as the 579.
Kitchener truck drivers are choosing Peterbilt truck models 365, 367 and 567 (and their precursors). The 365 and 367 have been available since 2007, and the 567 since 2015. Each of these rugged vocational trucks can be adapted to almost any construction task, from equipment support to providing raw materials to construction sites. All three of these Peterbilts are offered in set-back or set-forward front axle configurations for maximum flexibility.
Working as a truck driver in Kitchener means relying heavily on the manufacturing and transportation industries, which employ the majority of local drivers. So, as economic conditions ebb and flow and affect the health of these industries, demand for qualified drivers also ebbs and flows. Currently, drivers are in demand in the following roles in Kitchener:
To qualify for a commercial truck driver’s license (Class A or Class D) in Kitchener, you must follow the same procedure as elsewhere in Ontario. To be eligible for a license, you must:
To receive an unrestricted license, you must also:
While Kitchener does not have its own official Peterbilt dealership, there is an authorized dealer less than ten minutes down the road. This location is the best place to buy new and used Peterbilt semi-trucks in Kitchener, as it will have the full range of models available. The proximity of Kitchener to major transportation routes means that buyers have a plethora of other options too; there are many other heavy truck dealerships in the area who may have a catalogue of pre-owned Peterbilts for sale. And lastly, there are multiple online marketplaces where you may find Peterbilts for sale in Kitchener, with both sales and auctions.
Peterbilt truck maintenance in Kitchener is primarily available at the nearby official dealership. This location can offer the full range of Peterbilt parts and services, and is staffed with Peterbilt-trained technicians and specialists. They will give you expert advice on every aspect of maintaining your Peterbilt vehicles. Other third-party heavy truck service centres in the area may also deliver Peterbilt service in Kitchener; however only official dealerships for Peterbilt or its sister brand Kenworth will be able to provide the Peterbilt special service plans, like TruckCare or TruckTech+, which help with roadside assistance in the event of breakdowns and remote truck health monitoring.
New and used Peterbilt trucks are available in Kitchener at costs comparable to the rest of Canada, thanks to online marketplaces flattening regional variations. Kitchener also benefits from being close to several major urban centres, making the used market particularly robust.
The price of a new Peterbilt starts from around $185,000, but can increase to over $500,000 for higher spec models. The 389 and 579 Class 8 heavy trucks for example, both popular in Kitchener’s transportation sector, lie at the higher end of this range. It is worth noting though that high end Peterbilt trucks hold their value well, as they provide years of hassle free use.
The used market has plenty of options for buyers interested in finding a bargain, and this is a very viable option for many businesses, as Peterbilts are known for their longevity. Prices do also fluctuate here as well, depending on model, age and condition. For example, the 389 mentioned above can be found on the used market for as little as $80,000, for a 6 year old vehicle. A 10 year old 367 vocational truck, a model often found on Kitchener’s construction sites, can be purchased for just $45,000. Clearly, availability of specific models will vary, but Kitchener’s Peterbilt buyers do benefit from being so close to other urban centres.
Financing options in Kitchener are broadly similar to those found throughout Canada, with the default option for many being the financing offered by the dealership from which you are buying your truck. Dealerships work with a range of financing companies (like banks and credit unions) to aid their customers, and each of these companies will have their own terms and conditions, interest rates, and eligibility requirements. The variety of options means that you may be faced with a range in possible rates and loan amounts.
However, this is not your only option. More and more truck buyers are seeking pre-approval online to finance their truck purchase. This is a convenient route, as it means you can do a lot of the paperwork from home. Seeking financing online also means you can access the many companies that specialize in truck financing, rather than just the few your dealership is connected with. This also means access to companies that focus on bad credit loans or on financing fleets, which may result in better loan terms or higher approval rates than working solely with standard lenders found through your dealership.
It is definitely possible to get financing for a fleet of trucks. There are companies that specialize in truck financing, and which are familiar with buyers seeking to purchase multiple vehicles at once. They offer a variety of loan options to drivers in Kitchener and across Canada, regardless of fleet size. The types of loan and amounts that are available to you will depend on the lender, as well as your business’s circumstances. If you are looking to expand your fleet and want to understand your options, inquire with a local Peterbilt dealer, or check online with one or several of the truck financing companies.
It is possible to get Peterbilt truck financing with bad credit, though it may mean higher than average interest rates. For anyone with a credit score of less than 600, obtaining approval through a traditional lender may prove tricky. But there are plenty of companies that work with borrowers with low credit scores to make truck financing available. Be sure to check online for your financing options, but remember that a low credit score may mean more punitive loan terms from the lender, to offset their increased risk.
Qualifying for Peterbilt truck financing in Kitchener starts with passing some basic eligibility criteria. This usually includes stipulations that you must:
After meeting these requirements, there are then lender-specific hurdles that borrowers must clear, and these typically relate to:
While a solid financial history means access to preferable loan terms, borrowers with poor credit still have truck financing options available to them.