Jump to content
  • Come join the TowForce community.

    Sign in to get started and to receive Tower Down Notices.

INSIDER SECRET: What is the “Real” Interest Rate on My Truck Loan?


Recommended Posts

Most non-bank finance companies are not required to disclose the Annual Percentage Rate “APR” on your loan.  This is not meant to mislead you, but to streamline the paperwork.


Sadly, the less trustworthy lender(s) will actually tell you a rate that is not true, or will tell you the “simple interest” rate (no need for finance class here, but it is a meaningless and misleading rate).  This past week, a buyer was told they were getting 17% when the actual APR was 27.8%.  Personally, this upsets me greatly which is why I am writing this post.


So, how do you determine the APR on your loan?  You could pay $149 for the software program.  Or, just call, email or message me and I will tell you the “real” interest rate you are paying.  I need to know the following:


Purchase Price (with sales tax if applicable)
Down Payment (if any)
Monthly Payment
Term (number of months)
# of payments upfront
$ amount of security deposit (if any)
$ amount of balloon payment at the end (if any)


I will be happy tell you the “Real” APR.  If it is good, no harm done.  If not, I usually can beat it and have an answer for you in less than 2 hours after taking your application during a 5-minute phone call.


At Balboa Capital, we provide fast, fair and flexible financing and are the preferred finance company for Allstate Roadside Services, Road America and TowPartners.com.  We will get you in the truck you need at the payment you want!  Call Mark Johnston at 773-793-7725 or email mark.johnston@balboacapital.com.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Unfortunately, your content contains terms that we do not allow. Please edit your content to remove the highlighted words below.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Create New...
Please Sign In or Sign Up