News roundup, March 31: Mack offers new financing options during COVID-19 pandemic

Updated Apr 1, 2020

Trucking news and briefs for Tuesday, March 31, 2020:

Mack offering special financing options during coronavirus pandemic
The truck financing arm of Mack Trucks, Mack Financial Services, is offering four finance options to help truck buyers during the COVID-19 pandemic. The programs are available until June 30.

Each of the four new programs extend the first payment date for qualified buyers. Programs are for model year 2019 and 2020 Mack Anthem, Pinnacle, Granite, LR and TerraPro models. All four programs include an engine plan and Exhaust Aftertreatment (EATS) purchased coverage, competitive financing rates and flexible payment options.

The Let’s Deliver Finance Program is for Mack Anthem and Pinnacle day cab models and extends the first payment for 60 days.

The Fully Loaded Highway Sleeper Finance Program is for Anthem and Pinnacle sleeper models and extends the first payment by 60 days.

For the Granite model, MFS is offering the Let’s Build America Finance Program, which extends the first payment for 90 days.

Finally, the Trash into Cash Finance Program is for Mack buyers in the refuse segment looking to buy an LR or TerraPro. The program extends the first payment 90 days and also includes a chassis purchased coverage, in addition to the engine and EATS coverage.

Dock 411 free during COVID
Dock411, a crowdsourcing service that allows truck drivers to post information about shippers and receivers, is offering its service to manufacturers, producers, food and medical suppliers and other shippers for free through May 15.

Shippers can use Dock411 to create a facility profile that lists information about their location, including hours, special restrictions, best approach route to the facility,and other details to ensure trucks get in and out quickly and efficiently.

During the COVID-19 pandemic, the free access for shippers and others will allow them to update their profiles with any special procedures or policies in place due to the coronavirus.

Diesel prices hit lowest mark since August 2017
Diesel fuel prices across the U.S. hit another two-year low during the most recent week ending March 30, falling to $2.586 per gallon nationwide, according to the Department of Energy’s weekly update.

Prices have been on the decline for 12 consecutive weeks, falling a total of 48.58 cents since the slide began during the week ending Jan. 13.

The latest price update is down 7.3 cents from the previous week. The most recent week’s price is the lowest since the week ending Aug. 7, 2017, when prices were $2.581 per gallon across the country.

During the most recent week, prices fell in all regions with the most significant increase being seen in California, where prices dropped by 15.7 cents.

California continues to hold the nation’s most expensive fuel at $3.395 per gallon, followed by the the Central Atlantic region at $2.866 per gallon.

The cheapest fuel can be found in the Gulf Coast region at $2.363 per gallon, followed by the Midwest region at $2.432 per gallon.

Prices in other regions, according to DOE, are:

  • New England – $2.793
  • Lower Atlantic – $2.514
  • Rocky Mountain – $2.592
  • West Coast less California – $2.798

ProMiles’ numbers during the same week saw fuel prices fall by 7.6 cents to $2.498 per gallon nationwide. Chris Lee with ProMiles says this is the first time prices have been below $2.50 per gallon nationwide since July 2017.

According to ProMiles’ Fuel Surcharge Index, the most expensive diesel can be found in California at $3.327 per gallon, and the cheapest can be found in the Gulf Coast region at $2.368 per gallon.

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