OOIDA offering generator, APU financing

| 10/26/2007

Cutting costs and staying comfortable don’t always go hand-in-hand in the trucking industry. But auxiliary power units and generators have changed a lot of that.

As time goes on, using a generator or APU is turning into more than just a smart business move. More and more states, counties and even cities are popping up with anti-idling regulations – with little regard for the impact on the truckers having to turn off their trucks in below-freezing or scalding hot temperatures.

The problem for many truckers has been that the up-front cost can be tough to swallow, even though you can recoup your money in a year to 18 months in fuel savings alone.

The Owner-Operator Independent Drivers Association now offers financing for generators and auxiliary power units through its Finance Department.

“We now have a lender available who will finance the APUs and generators for us,” said Margo Fries, supervisor of OOIDA’s Truck Finance Department. “It’s very exciting. We’ve looked long and hard for this type of lender. There’s very few out there. So now we finally have someone out there to do this for us.”

The addition of the APU and generator financing program came to be as a direct result of member requests.

“It has been a daily request for the past two or three years,” Fries said. “We keep getting the questions from employees and members asking if we have people available to do this, and when we will be able to do this.

“It’s something I’ve been searching for and it took a little bit of time, but it’s finally here.”

The program offers rates from 8.36 percent to 10.36 percent and covers both the actual cost of the unit and installation of the unit. There’s a set dollar limit on how much can be financed through the program. The program allows financing terms from 12 to 60 months and does not include early payoff penalties.

For more information on the financing program, click here or call the main OOIDA phone number, 1-800-444-5791, and ask for the Truck Finance Department.

– By Jami Jones, senior editor