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semi truck bad fuel filter symptoms

The Semi Truck Bad Fuel Filter Symptoms You Need To Know About

semi truck bad fuel filter symptoms
Your semi-truck fuel filter may be a simple part, but it’s also one of the most vital parts in the healthy operation of your engine. This is why it’s so important to know what semi-truck bad fuel filter symptoms look like.

If something is wrong with your fuel filter, catching the problem early results in an easy fix. If you leave it too late, the issues might involve more intensive and expensive semi-truck repairs.

So, if you’re wondering how to know if the fuel filter is bad on a semi-truck, then this guide has all the answers you need. We’ll also cover some of the most important maintenance tips for keeping your semi-truck in the best possible condition.

Semi Truck Bad Fuel Filter Symptoms

Much can wrong with your semi-truck fuel filter system. To help you stay on top of these issues, here are some of the most common semi-truck bad fuel filter symptoms you should look out for.

The Truck Won’t Start Easily

One of the most obvious semi-truck bad fuel filter symptoms is your truck struggling to start. If you can hear that the battery is still strong, but the engine won’t start when you turn the ignition, then there’s a good chance there’s something wrong with your fuel filter or fuel delivery system.

At first, it might take a bit longer than usual to start. Eventually, the semi-truck might not start at all.

Rough Idling

Another one of the most common semi-truck bad or dirty fuel filter symptoms is if the truck idles roughly, or even backfires on a regular basis.

Yellow and black truck on road under blue sky

 

This might happen because your fuel filter is dirty, preventing the fuel injectors and fuel tank from sending enough gas to the engine.

Clean fuel filters help the engine maintain a steady and smooth idle thanks to a continuous fuel supply. If you notice this issue, you might be able to easily clean the fuel filter. Sometimes it’s just a matter of knocking off gathered dust. If you leave this for too long, you may need to replace the fuel filter completely.

Stalling

If your semi-truck stalls randomly, this is a definite sign that something is wrong. In most cases, your vehicle stalling comes down to a dirty or clogged fuel filter. Again, this is because the engine isn’t being fed enough fuel, causing the engine to stall at any given moment.

Failures in Your Fuel System

A semi-truck fuel system is complex with many different parts. If you find that a component of your electric fuel pump isn’t working, then it could be due to a bad fuel filter.

This is because electric fuel pumps could fail while trying to push fuel through a clogged fuel filter. This is one of the worst semi truck bad fuel filter symptoms because it means you’ll have to replace the fuel filter, as well as fix the broken components of the electric fuel pump.

Normally, your check engine light will go on if this is the issue.

Unusual Noises

If you hear any strange, loud noises coming from the engine, it could be a sign that your fuel filter needs replacing.

Commercial Fleet Vehicle Financing

Loud noises are always a tell-tale sign something is wrong with your engine, and if these noises can be narrowed down to the fuel pump, there’s a good chance a restricted fuel filter is causing the issue.

Top Semi Truck Care Tips

Knowing how to identify semi truck bad fuel filter symptoms is important, as a clogged fuel filter can quickly escalate into a more serious issue if it’s not taken care of quickly.

When it comes to taking care of your semi-truck, there are many small things you can do that make a big difference. As buying a semi-truck is such a major investment, you’ll want to make sure that you take great care of it.

From your fuel system to your semi-truck in general, here are some of the best semi-truck care tips you should always follow.

Regularly Check Your Fuel Filter

On the topic of semi-truck failing fuel filter symptoms, one of the easiest ways to avoid this is by simply checking your fuel filter and keeping it clean.

This is important if you drive the truck on dirt roads, or in very dusty environments. Dust can easily make its way into your fuel filter, causing a blockage.

Luckily, this can be an easy fix, simply requiring a thorough dusting off. However, if you leave it too late, you may need to replace the fuel filter completely.

So, regularly checking and cleaning your fuel filter is a simple job that can help your semi-truck avoid various other issues.

How Hard Is It for Minority Truck Drivers to Obtain Financing
Check Your Oil Level

Keeping your oil at a healthy level is one of the most important jobs in maintaining a happy engine.

Your semi-truck engine consists of many different parts. You need oil to keep all of these different parts moving and functioning properly.

While oil may not seem overly important, not keeping your oil level up can have some seriously damaging effects on your engine in the long run.

The good news is that it’s incredibly easy to check and maintain your oil levels. This should be something you do each time you fill up your semi-truck.

Check Your Tires Regularly

Semi-truck tires are incredibly important for the overall well-being of the truck. If you don’t keep your tires well cared for, all kinds of issues could arise. For example, incorrect tire pressure could cause problems with your suspension system, which can become a major issue.

Worn tires are also dangerous to drive on, which is of course something you want to avoid. And even simply keeping your tires at the right pressure will help make your semi-truck more fuel efficient.

As truck tires can be seriously expensive, it’s important to always check and maintain your tire pressure. Try to do this each time you fill up with fuel. It’s easy and can save you a lot of money and effort in the long run.

Schedule Regular Truck Services

There are many different complicated parts to a semi-truck. While it’s important to understand the basic functions of how your semi-truck and engine work, you never know what hidden issues you might miss. This is why the best thing you can do is send your truck in for regular services.

man maintaining truck

Your semi-truck is far too valuable not to take proper care of. So, scheduling regular services with an experienced mechanic will help you identify any issues before they become major problems. This could cover anything from a bad filter to more serious engine issues.

Of course, regularly servicing your semi-truck is also important for maintaining its value if you ever want to sell it.

Final Thoughts

If you’ve invested in a semi-truck for your business, then you need to make sure you keep the truck in the best possible condition. This will involve identifying common issues with the fuel filter, as well as maintaining the truck’s most important parts.

With the right habits in place, good truck maintenance is easy. Get it right, and it will help you get more miles out of your truck, and more value from your major semi-truck investment.

If you’re looking to finance a semi-truck, reach out to Mission Financial Services today.

 

how to tell if semi truck shocks are bad

How to Tell if Semi-Truck Shocks Are Bad

how to tell if semi truck shocks are bad
So, how can you tell if your semi-truck shocks are bad? This is something every professional truck driver should know.

Your semi-truck shocks play a vital role in your suspension system. They keep your truck driving properly and safely. Without them, you’ll struggle to drive smoothly – something that’s essential for any kind of trucking business. Of course, any issues with your shocks can result in even greater problems developing in other areas of your vehicle.

Bad shocks are a fairly common issue with semi-trucks, so it’s important to be able to identify these issues straight away. To help you out, here are some of the main signs and causes of bad shocks on semi-trucks.

How To Tell if Your Semi-Truck Shocks Need Some Love

Bad Driving Quality

Wondering how to tell if your semi-truck shocks are bad? The first, and most tell-tale sign, is if your truck’s driving quality has decreased.

When shocks wear, the semi-truck will be a lot bumpier to drive and more difficult to control. You might scrape a speed bump, experience excessive bouncing while driving, or have difficulties with the steering stabilizer. The steering wheel might move a lot more, giving you a hard time keeping the vehicle stable.

Whatever the case, semi-truck shock absorbers are essential for managing the vehicle’s weight. If your semi-truck is offering a bad driving experience, you need to replace the shocks.

Uneven Tire Wear

Having uneven or unusual tire wear is often a clear indicator of worn shocks.

cars on road

While your tires will wear down over time, when you have bad shocks you’ll notice a much faster, and more drastic, wear and tear on your tires.

With properly functioning shocks, your tires will wear down gradually on both sides. But with bad shock absorbers, one side will wear down far quicker. In some cases, uneven and accelerated tire wear can be pronounced enough to cause swerving. You might also notice vibration or humming when driving your semi-truck, which happens from shock absorber tire wear.

Leaking Fluid

Shock absorbers are filled with oil, which is essential for their dampening ability. The oil is held in the shock absorber with a seal.

If you notice a lot of oil covering and leaking from your shock absorbers, this is a sign that you have fluid leaking around the seal. If the leak persists, the shocks will start acting up and might stop working completely.

While it’s normal to have very slight oil leakage around your shock absorbers, the oil leak will become a lot more prominent in semi-trucks with bad shocks. If you feel like your semi-truck is driving differently and is having a harder time handling, then be sure to check for leaking fluid.

Physical Damage to the Suspension System

Many factors can damage your semi-truck’s suspension system: dents, cracks, or corrosion to name a few.

If you suspect you might have worn out shocks, then take a close look at your suspension system and pay attention to each component. You might notice visible damage or wear and tear on the system, which would call for replacement shock absorbers.

truck driver

One common issue is corrosion or damage to the bushings, which are located at each end of the shock absorber. When they wear out, the shocks won’t be cushioned from the suspension, which can result in a lot of noise and noticeable suspension movement.

Rattling Noises

If you have loose or worn shocks, then they’ll probably start to make loud rattling or knocking sounds. This could be because the bushings are worn or damaged, because the shock is loose and rattling, or because the shock has lost its oil.

Whatever the case, damage to these components of your shocks will need immediate attention. If left for too long, they might cause more serious issues in your suspension system.

If you hear noises coming from your shocks, be sure to also check your semi-truck tie bar, ball joints, or sway bar, These are all parts of your truck’s OEM shock absorbers that could get damaged and need replacing.

Rear-End Squat

When your shocks and struts wear, the cabin of your semi truck might feel like it suddenly shifts backward when you accelerate. This is one of the earliest symptoms of worn shocks, and it could be a clear indicator to check your suspension system.

When this kind of rear-end squat during acceleration is not especially dangerous in terms of handling, it can lead to further issues if you don’t get your shocks and struts fixed as soon as possible.

truck

Getting a Repair Loan for Your Semi-Truck

When semi-trucks need surprise repairs, things can get expensive very quickly. But if you don’t do the repairs, then your truck may suffer even more severe damage as time progresses.

This is why having access to easy semi-truck repair loans is so useful. With a commercial vehicle repair loan service like Mission Financial Services, getting your semi-truck fixed becomes a lot more accessible.

Professional truck drivers can easily apply for repair loans, and you can get accepted for these loans even if you have a poor credit history. This can be an absolute lifesaver for truck drivers that face a sudden need for repairs!

This is especially important if your semi-truck shocks are bad. Worn shocks are relatively simple to repair, and won’t necessarily hold your business back much. But if you leave them to get worse, they could trigger all kinds of other issues in your semi-truck. This could result in a serious, and far more expensive, repair job.

Conclusion

So, how to tell if your semi-truck shocks are bad? There are many different signs to look out for.

One of the most important parts of owning a semi-truck is understanding how the different parts of the truck work and knowing how to troubleshoot issues. This can help you keep the truck in the best possible condition, which is important if you don’t want to spend a fortune on semi-truck repairs.

However, if you do need to take out a semi-truck repair loan, there’s always a convenient option available with Mission Financial Services.

semi truck repair loans

All About Semi Truck Repair Loans

semi truck repair loans

Truck repairs are a necessary business expense if you’re a truck driver or owner-operator.

When your vehicle needs some TLC, semi-truck repair loans can make a big difference. Repairs can be expensive, and sometimes you won’t have the budget for fast maintenance!

Let’s talk about what semi-truck repair loans are below. We’ll also discuss your options and show you how to apply for these loans, even with bad credit.

Semi Truck Repair Loans: What Are They?

Semi-truck repair loans are a type of commercial vehicle financing solution that helps cover the increasing costs of truck repairs.

Most lenders will use your commercial truck as collateral to give you the money you need to pay for truck repair jobs upfront. You then repay the loan amount plus interest over some time. This way, you can keep your truck’s downtime to a minimum and get back on the road fast.

The interest rates and terms of semi-truck repair financing vary from lender to lender. But you’ll always have to make regular payments to repay your loan, based on a daily or monthly payment model.

Owner-operators and fleet owners use truck repair financing when they need major repairs for their commercial trucks. But there are truck repair loan options for small repairs, including common truck problems like wheel bearings issues.

Understanding how various types of semi-truck repair financing options work will help you choose the right one for your needs.

Types of Truck Repair Financing

Here are a few common types of truck repair loans:

1. Title Loans for Commercial Truck Repair

You can use commercial vehicle title loans to fund semi-truck repairs. They are one of the best truck repair financing options for those who own their semi-truck and have less-than-perfect credit.

The lender uses your commercial truck’s realistic market value to give you the money you can use for repairs and other business expenses. Generally, commercial vehicle title loans have higher interest rates than other loans.

2. Personal Loans for Semi-truck Repair

If you’re a professional truck driver, you can get a personal loan to pay for your truck repair needs.

These loans come with an attractive interest rate and flexible repayment terms, especially if you have good credit. But, the money you get from personal truck repair loans can be less than what you get with title loans.

3. Small Business Loans

Small business loans are great for financing semi-truck repairs. But, you require an established business plus a good minimum credit score to qualify. You’ll get the funds you need fast, usually within the same day of application, and you can repay these over several years.

4. Equipment Financing

Many trucking business owners use equipment financing to cover repair costs for their commercial trucks. It is a short-term loan readily available from online lenders and equipment leasing companies.

5. Business Line of Credit Financing

If you’re a fleet owner who deals with expensive repairs often, consider this type of truck repair financing. It lets you borrow exactly the amount you need and pay interest on it. You can also use the credit again whenever you pay back your loan, so you’ll always have money for repairs ready.

6. Business Credit Cards

Business credit cards are among the best semi-truck repair financing options for owner-operators who want to earn rewards while covering truck repair costs. The approval process for these cards is also the least strict of all truck repair funding options.

7. Working Capital Loans

These truck repair loans operate almost the same way as small business term loans. You get the money you require on the same day. The main difference comes from the payment model.

With working capital loans, the lender deducts money from your account daily, for example from Monday through Friday. But, for small business loans, you can make small monthly payments over a period to pay the loan.

How To Apply For A Semi Truck Repair Loan

The application process for semi-truck repair loans is simple. You can do it online with just a few clicks!

Different lending institutions will request various details and certified copies of documents.

With Mission Financial Services, you’ll need to provide the following information:

  • Contact details: These may include your name, phone number, email, residential address, driver’s license or commercial driver’s license (CDL), and social security number.

  • Financial details: These include information about, for example, your credit history.
  • Commercial truck details: Provide the vehicle identification number, make, model, engine transmission type, actual mileage, and accessories.
  • Sales price details: These include all applicable fees and taxes.

Once you’ve gathered the necessary information, the rest of the application process should take a few minutes:

  • Go to the credit application page.
  • Click the ‘get preapproved; button.
  • Fill in the information as required and click next to proceed until you reach the last page.
  • Confirm that you’ve provided all the necessary details, then click submit.

We’ll reach out after reviewing your application.

Repair Loans and Bad Credit

You might be wondering whether you can get truck repair financing if you have less-than-perfect credit. The answer is yes. But, it largely depends on the lender.

Most lenders require a minimum credit score to offer truck repair financing. Mission Financial Services doesn’t consider your credit score.

Other factors also contribute to the truck repair loan you qualify for and the loan terms you can get. Some can include your records of on-time payments toward other loans and clean accounts of repossession or bankruptcy.

semi truck repair loans

Do You Need A Truck Repair Loan To Grow Your Trucking Business?

In short – no. You don’t need a truck repair loan to grow your business. However, truck repair loans have several benefits, especially for professional truck drivers, owner-operators, and fleet managers.

Apart from being able to pay for your repairs fast, you can keep enough cash flow for other business operations. Also, paying off your repair loan helps you build credit for your commercial truck business. It may come in handy whenever you need more financing to expand your venture.

Final Thoughts

Overall, truck repair financing is a good idea for all stakeholders in the trucking industry. You’ll keep your truck moving and have the cash flow to expand your business when you’re ready.

If you have poor credit, choose financing companies with specific programs for individuals with bad credit scores. Contact Mission Financial Services today to find out how we can help!

What to Consider When Rebuilding Your Diesel Engine

FAQ: Restoring vs Buying New

Every day, all across the country, heavy-duty trucks travel thousands of miles delivering products and keeping our economy flowing. Those miles can be taxing on diesel engines, and without proper care and maintenance, you could find yourself in need of a new one. However, there is another option.

Instead of buying a new engine, you may be able to salvage the one you have by rebuilding it. While the quality of your rebuild depends on the parts and mechanic skills you have, it’s a much cheaper option than purchasing a whole new engine—especially as costs continue to rise.

Is restoring an old engine better than buying a new one?

While it may seem more cost-effective to replace your worn engine with a brand-new one, the fact is rebuilding your engine could save you hundreds of dollars and help you avoid mechanical hurdles.

Overall, it is less expensive to obtain a small repair loan and complete an engine overhaul than it is to finance a new truck. When you buy a new semi, you will be met with a minimum five-year payment plan, eventual repair costs, and more. Repairing/rebuilding your engine will buy you more time with your tried and true truck and save you money in the long run. 

Repairs can be even cheaper (and in some ways easier) if your rig is older. Newer trucks often have computerized systems and components that are expensive and hard to obtain due to the current microchip shortage. However, the parts and labor needed for older semis are relatively easy to get and manage.

To top it all off, older diesel engines are more reliable in some ways. When it comes to your used engine, you know what to expect and prepare for in terms of issues, efficiency, and performance. Plus, engines that have been around for a long time have proven to be longer-lasting, whereas newer engines don’t come with a proven track record.

What you need to know about rebuilding your engine

As previously mentioned, performing proper care and maintenance on your diesel engine ensures optimum performance and longevity. Eventually, you will need to rebuild your engine to improve your truck’s mileage and extend its lifespan. 

When it comes time to rebuild your engine, there are a few things you ought to know. Here are some frequently asked questions and answers to help.

Q: How do I know if my diesel engine is bad?

The most common ways of detecting a bad diesel engine include:

  • Increased oil consumption
  • Strange sounds coming from your engine
  • Increased fuel consumption
  • Issues with engine braking
  • Loss of power/Truck won’t start

–> How to identify when a clutch is failing

Q: When should you rebuild a diesel engine?

Typically, engine rebuilds are performed every 12,000 to 15,000 hours. However, you could extend time in between rebuilds with proper care and maintenance.

Q: How do I know if my engine needs to be rebuilt?

You need to rebuild your engine if:

  • A knocking or buzzing sound is coming from the engine’s bearings.
  • Oil burns on gasoline/Your exhaust smoke has a white hue.

Q: How long will a rebuilt diesel engine last?

If done correctly, an engine rebuild should last more than 100,000 miles. This will depend on the type of engine, however.

Q: What mistakes should I avoid when rebuilding?

The main mistakes to avoid when rebuilding include:

  • Not taking proper measurements of bearing clearances, crankshaft, cylinders, ring end gaps, etc.
  • Not having a clean and organized workstation.
  • Not recording as you dismantle your engine.
  • Using old or worn fasteners or other supplies.
  • Rushing through the process of the rebuild.

Q: Are rebuilt diesel engines reliable?

Yes! It has been proven that engine rebuilds are more reliable, safe, and effective than replacement engines.

Q: How much does an engine rebuild cost?

Engine rebuilds can vary in cost. Everything from the engine’s make to the level of the rebuild can impact the amount you’ll spend. However, the average overhaul cost ranges from $20,000 to $40,000.

–> How to save on diesel emissions repair costs

How a commercial repair loan can help

When your truck engine breaks down or needs parts and repairs, your income and livelihood are put on hold until fixed. And if the repairs or parts required aren’t within your budget, you could be facing quite the predicament. Fortunately, Mission Financial Services can help by offering specialized commercial vehicle repair loans that assist in covering the cost of repairs and help get your rig back on the road. 

To obtain a commercial vehicle repair loan, you will need to complete and submit three online forms, including a credit application, vehicle spec sheet, and sales order.

Get Started Today

How to Identify When a Clutch is Failing

5 Signs of a Bad Clutch

For heavy-duty trucks, the clutch plays a crucial role in the rig’s full functionality. The mechanical piece acts as the link between your engine, transmission, and driveshaft and allows drivers to shift between gears while hauling freight. The clutch also optimizes your engine’s performance, maximizes your rig’s fuel economy, and helps drivers achieve top-notch safety, when properly maintained.

While most clutches are designed to withstand long hauls and excessive use, these mechanical links are not indestructible. The fact is, at some point in your driving career, you’re guaranteed to replace a clutch or two. How often you replace them depends on several factors, including how well you operate the equipment and the amount of maintenance you put into it—but you’ll still replace the piece, eventually.

Signs of a failing clutch and how you can fix it.

As previously mentioned, the life of a clutch can vary depending on the application, hauling frequency, and the weight of your cargo; even the amount of traffic you face can have an effect. And while some modern rigs offer a maintenance light for the clutch, older rigs don’t have the luxury. So, how do you determine a failing clutch before it becomes a dangerous problem?

Here are the most common indicators to listen and feel for when determining the state of your clutch:

1. The engine is running fast, but the rig is moving slow.

When it feels like your engine is running faster than your rig, you may be experiencing “clutch slippage.” This issue occurs when the clutch’s ability to generate friction is compromised. 

The issue is, the clutch relies on this friction to turn the flywheel, and without it, the clutch has to work harder to produce less energy, resulting in the engine running harder than your truck. This could also cause your engine to be noticeably louder when accelerating.

So, what causes slippage, and how do you fix it? Generally, slippage is caused by wear and tear on the clutch or heat damage from “burning the clutch.” The problem can also be due to an oil or transmission leak, or occur when the pressure link is damaged or does not transmit adequate force due to a blockage or rust damage.

2. When the clutch pedal is pressed, you hear a squealing or chirping.

If your clutch pedal is squealing or chirping, it’s likely due to an issue with the throwout or pilot bearing. To avoid this problem, regularly check the parts and keep them well-lubricated to avoid frequent rubbing.

3. The pedal is noisy, sticky, spongy, or loose.

If you notice the pedal making any abnormal noises or feeling sticky/spongy, you may be looking at an issue with the clutch fork. This problem can be due to inadequate lubrication or general deterioration and can be determined/fixed by a technician.

If the pedal squeaks or feels loose, you may need to replace the pedal’s spring or another ill-fitting component.

4. The clutch won’t engage.

A few different things could cause this issue of a sticky or unresponsive clutch. For starters, there may be an issue with the clutch pedal not being compatible with a specific part or component. However, you could also be looking at a problem with the clutch disc or pressure plate. 

The possibilities for this problem are somewhat endless, so it’s best to have a technician run further diagnostics tests to determine the cause and solution.

5. You hear a grinding noise.

This grinding noise is often called a “dragging clutch.” While this could result from an issue with the pressure plate or throwout bearing, it’s typically a problem with the release mechanism. 

When you press the clutch pedal, your clutch should release so you can change gears without grinding them. However, if there’s a problem with the release, the gears will create a grinding sound and, in turn, damage your transmission.

You will most likely need a new clutch assembly to resolve this problem, but you should have a technician inspect your pedal to ensure all components are correctly installed.

If you notice any of these signs, it’s vital to make an appointment with a trusted mechanic or service technician. They will be able to diagnose your clutch’s issue properly and determine which parts and/or repairs you may need.

How to optimize the life expectancy of your clutch.

Whether you’re replacing parts of your clutch system or replacing the entire mechanism, every truck driver will eventually be forced to replace their clutch. However, with proper maintenance and regular inspections, you can optimize the life and performance of your clutch and keep on trucking. 

Below are the best ways to keep your clutch in top shape: 

1. Don’t ride the clutch.

You’ve probably heard this statement before, but it’s essential for a long-lasting clutch. After a long haul, it can be easy to rest your foot on the clutch pedal or leave it halfway down to make changing gears more manageable. But, in the long run, the minimal amount of comfort you will achieve is not worth the excessive amount of damage to your clutch and transmission.

Bottom line, when you aren’t shifting gears, keep your foot off of the clutch. Instead, use the dead pedal or the floor.

You should also avoid using your clutch as an alternate brake or as a way to prevent your rig from rolling back on hills.

2. Be sure to shift gears properly.

To properly change gears, only shift after you’ve fully engaged the clutch and keep the pedal down until you’re in gear. Once you’re where you want to be, come off of the pedal quickly and smoothly.

It’s vital to the longevity of your clutch to make decisive changes. And while a few modulations may be necessary when coming out of first gear, it’s essential to not leave your clutch in between the “engaged” and “disengaged” positions for too long.

3. Always park in neutral.

When parking your heavy-duty truck, be sure to park while in neutral. To do so, put your transmission in neutral, then apply your parking brake. After that, shift into first gear if facing uphill, or reverse if facing downhill. Following these steps will not only prevent your rig from rolling away but will also ensure that there is no excess pressure on your clutch.

How a repair loan can help.

When your truck breaks down or needs parts and repairs, your income and livelihood are put at risk. And if the repairs or parts required aren’t within your budget, you could be facing quite the predicament. Fortunately, Mission Financial Services can help by offering specialized commercial vehicle repair loans that assist in covering the cost of repairs and help get your rig back on the road. 

To obtain a commercial vehicle repair loan, you will need to complete and submit three online forms, including a credit application, vehicle spec sheet, and sales order. 

Get Started Today

How to Keep Your Truck on the Road

The Importance of Semi-Truck Repair Loans

Recently, the trucking market has taken a nosedive due to the severe vehicle and parts shortage that has been wreaking havoc since 2020. With the current inventory not meeting industry demands, the market for these vehicles has become insanely competitive. In fact, in July of this year, Class 8 vehicles and other heavy-duty trucks sold rapidly while their prices spiked at a year-over-year rate. According to the ACT, unit sales went up by 26.6% compared to last year’s numbers and prices of Class 8 vehicles increased by at least $77,000. Unfortunately, due to the current state of the world, there’s no guarantee as to when inventory or prices will balance back out.

Those who already have a running rig have an advantage over the new drivers entering the buying and selling arena. However, if your truck breaks down and is in need of parts or a serious repair, you may find yourself in the same situation as green truckers. 

→ Everything You Need to Know about Annual Semi-Truck Maintenance

The truth about used truck repairs

On average, a single truck driver travels anywhere from 45,000 to 100,000 miles per year. And with working hours and delivery demands regularly increasing, it can be easy to forget about scheduling regular or preventive maintenance. However, for used trucks, care is crucial for keeping your rig on the road, especially amid the current inventory shortage.

It’s also important to prepare and plan for the inevitable repairs that come with owning a used or older truck. As an owner/operator, it’s vital to keep essential tools in your cab so you can solve common repairs on the fly and stay on schedule. 

The most common used truck repairs include:

If you want to be extra careful, be sure to prepare your vehicle for the various seasons and the weather conditions that come with them, like high temperatures in the summer and icy roadways in the winter.

→ 5 Most Common Truck Problems and Repairs

The impact of the vehicle shortage

As previously mentioned, since the start of the COVID-19 pandemic, automotive manufacturers and parts manufacturers have been battling a labor decline and production delays brought on by the effects of the coronavirus. These obstacles eventually caused a massive vehicle and parts shortage that still affects dealers and consumers globally. Once cases declined and businesses began reopening, manufacturers assumed they’d be able to ramp up production and compensate for the lack of product. However, they did not anticipate their suppliers being hit by a wave of various natural disasters, further causing more closures and setbacks. Dealers saw no end in sight and began offering extreme incentives and personalized financing plans to move stagnant inventory, not realizing they’d be left with virtually nothing in the way of new and used stock. This move ultimately solidified the shortage that companies and consumers are still battling to this day.

Unfortunately, this shortage has had a significant effect on the trucking industry. Newer truck production is still moving at a snail’s pace due to a large raw materials shortage, and truck dealers are experiencing drops in sales of up to 0.6% month-over-month. Under these circumstances, drivers could sell their used rigs and receive top-dollar, but it would be unwise if they plan on using that money to buy a new or used truck, seeing as how neither really exists at the moment. Shippers are also continuing to pay higher premiums for transportation due to the disruptions in the supply chains. The DAT suggests that spot and contract rates are higher than they’ve ever been while freight volumes decreased by about 8%. To top it all off, drivers are experiencing port congestion, unloading delays, a tighter intermodal capacity, and more freight than the commercial trucking industry can handle, especially as the holidays move in.

→ Where Did All of the Trucks Go?

How semi-truck repair loans can help

As a truck driver, your vehicle is your lifeline. When it breaks down or needs parts and repairs, your income and livelihood are on the line. And if the repairs or parts required aren’t within your budget, you could be facing quite the predicament. Fortunately, companies like Mission Financial Services can help by offering specialized commercial vehicle repair loans. These loans assist in covering the cost of repairs and help get your rig back on the road. 

With older or used vehicles, you’re more likely to face frequent, costly repairs than newer trucks, especially if you’re operating at a higher capacity. That’s why it’s crucial to have a personalized repair loan at the ready to protect your investments and income. 

For added protection, companies like Mission Financial Services offer a multitude of specialized loans and financing offers, including:

  • Repair loans
  • Commercial vehicle title loans
  • Personal loans
  • And refinancing options

→ What are your options to cover the cost of semi-truck repairs?

Why wait?

To obtain a commercial vehicle repair loan, you will need to complete and submit three online forms, including a credit application, vehicle spec sheet, and sales order. You will provide your contact information, your past and present employer, income specificities, and any previous financing information for your credit application. The vehicle spec sheet will require information like make, model, vehicle I.D. number, and mileage so you can obtain the best loan that fits your exact needs. The sales order will show the sales price of your commercial vehicle as well as its taxes and fees.

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