“Owner-operators hoping to purchase a truck likely will now face new hurdles, as lenders in recent weeks have begun stiffening credit standards for equipment purchases, especially for one-truck operators, says Rob Misheloff, founder of equipment leasing and finance brokerage SmarterFinanceUSA.” – According to the article in overdriveonline.com and its author James Jaillet

“Lenders’ moves are the latest shift amidst a cooling truck market, with 2019 ushering in a freight slowdown and cheaper rates, especially on the owner-operator-heavy spot market. What’s more, some analysts predict that the Class 8 sales market is nearing a cliff, coming after record-setting order numbers in 2017 and 2018.” – Jaillet also wrote in his article.

In our opinion, the trucking industry is slowing down and there are signs of it everywhere. Trucking companies bankrupting one by one, truck and trailers sales declining rapidly, freight rates are almost at the lowest level since 2016.

As the economy doesn’t appear to be slowing down, the trucking industry is certainly in trouble.

Read the full story HERE

Source and credits:overdriveonline.com / James Jaillet / itrucker.com/news/