Rejected

| December 20, 2008

Before he parked his 10-year-old Peterbilt, Smith had it outfitted with bypass filtration and a lubricity-enhancing system. Smith kept the system well-tuned and installed an Idlebuster auxiliary power unit.

Keeping an old truck running efficiently is a smart choice many have to make in today’s credit environment. “We’ve got to get as much out of this equipment as we possibly can,” Smith says.


Getting your credit report
Yesterday’s acceptable credit score might not cut it in today’s market. You can stay current with your rating by checking before you ever contact a lender.

The Fair Credit Reporting Act requires consumer information-gathering and reporting agencies to provide a free copy of your credit report once a year.

Maintaining a good credit report generally requires on-time payment of all bills, including personal ones, low short-term debt levels and other sound financial practices. With your free credit reports, the rating agencies also offer, for a small fee, your credit score. If it’s above 700, that’s typically considered to be good – in the high 600s, however, is often good enough to get relatively favorable loan terms.

To obtain a copy of your credit report, contact:

Equifax
(800) 525-6285
www.equifax.com

Experian
(888) 397-3742
www.experian.com

TransUnion
(800) 680-7289
www.transunion.com


A lean year coming for new trucks
The industry has had plenty of speculation about the extent of a 2009 pre-buy that might precede the introduction of new emissions technology in the 2010 engines. Now, given the tight credit market and slowing freight, little pre-buy can be expected, says Eric Starks, president of FTR Associates. Reports showed the economic chaos had put a huge damper on September orders from manufacturers.

Transportation analyst Jay Thompson characterizes the long-term rise in new-truck sales as an investment bubble that peaked with the 2006 pre-buy in lieu of the new technology in 2007 engines.

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