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Peterbilt Truck And Big Rig Purchasing & Financing

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Peterbilt Truck And Big Rig Purchasing & Financing

Written by Bryan Daly

Peterbilt Truck And Big Rig Purchasing & Financing

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Peterbilt Truck Truck Financing

Although the industry is always evolving, trucking is an essential service for many people and businesses across Canada. Luckily, there are plenty of different truck brands and models to choose from in every province and territory, no matter how far you’re planning to drive or what type of cargo you’re hauling. 

One of the most popular truck brands that come to mind is Peterbilt, who produce a number of models and cargo options. Check out the article below to find out why Peterbilt might be the right truck manufacturing company for you and how to find the best financing to purchase a Peterbilt truck.

Who is Peterbilt?

As mentioned, the Peterbilt Motors Company is one of the most popular commercial trucking brands in Canada and the United States. In fact, they’ve been producing trucks of various classes for over 80 years. Although they started as a logging transportation company in Oakland, California, their main manufacturing plants are now located in Denton, Texas (headquarters) and Sainte-Thérèse, Quebec.  

Since their creation in 1939, Peterbilt has produced 60 different vocational, medium-duty, and on-highway truck models, 11 of which are still in production. While they may not be as luxurious as Volvos or Daimlers, Peterbilt trucks have a reputation for being fairly priced, having a decent resale value, and being reliable. 

Learn more about the best semi-truck brands in Canada.

Who Manufactures Peterbilt Trucks?

In 1958, Peterbilt became a subsidiary of the PACCAR Inc Fortune 500 company, who are also the owners of Kenworth, DAF, and Leyland Trucks and are currently the 8th largest commercial truck manufacturer in the world. 

As such, all Peterbilt trucks are outfitted with the PACCAR Powertrain, which is renowned as one of the most reliable, dynamic, and fuel-efficient powertrain systems available on the market. While there are lots of other popular truck brands out there, many truckers prefer Peterbilts (and Kenworths) over any other make or model specifically because their PACCAR engineering makes them so dependable.

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What Do Peterbilt Trucks Excel In?

Although their PACCAR engineering is one of their biggest selling points, there are plenty of other reasons that many choose Peterbilt for their commercial transportation needs. For instance, Peterbilt is also known for manufacturing high-quality school buses and coaches. Other areas where Peterbilt excels include but aren’t limited to:

  • Resale Value – Another major advantage to buying a Peterbilt vehicle is that it may have a much better resale value than many other makes or models. Even trucks and buses with a lot of mileage can be easily resold, simply because they’re built well and made to handle all kinds of road conditions. 
  • Variety – Peterbilt is also known for their versatility, especially when it comes to their trucks. Whether you need a day cab model for medium-sized short-haul deliveries, a sleeper cab model for larger or longer ones, or to use your truck for vocational purposes, such as construction, Peterbilt has something for you.
  • Features – While some models are more basic than others, most Peterbilt vehicles are equipped with tons of special features, such as remote diagnostics technology and ergonomic infotainment systems. To reduce their environmental impact, Peterbilt has even begun production on several fully electric models. 

What Types of Trucks Does Peterbilt Produce?

There are currently 11 on-highway (heavy duty), vocational, and medium-duty Peterbilt trucks in production:

On Highway (Class 8) Vocational
(Class 8)
Medium Duty (Class 5-8)

389 – PACCAR MX or Cummins ISX engine

579 – PACCAR MX or Cummins ISX engine

365 – (Engine Options)
– PACCAR MX
– Cummins ISX
-Cummins Westport

367 – PACCAR MX or Cummins ISX engine

520 – (Engine Options)
– PACCAR MX
– PACCAR PX 
– Cummins ISX 
-Cummins Westport

567 – (Engine Options)
– PACCAR MX
– PACCAR PX
– Cummins ISX
– Cummins Westport

220 – PACCAR PX engine

325 – PACCAR PX engine

330 – PACCAR PX engine

337 – PACCAR PX engine

348 – PACCAR PX engine

Should you finance or lease your next truck? Find out here.

What Features Do Peterbilt Trucks Have?

When buying a Peterbilt, the features it comes with will depend on what model you’re looking at. While some of these perks and technologies may come standard, they are many you can pay extra for when customizing your truck. That said, here are the 4 main features that Peterbilt trucks offer:

Technology

Peterbilt trucks come with all sorts of innovative technology, including but not limited to:

  • SmartLINQ Remote Diagnostics – This system helps the operator and/or fleet manager monitor their truck’s functionality and can alert them to various mechanical or electrical issues. Their advanced Reasoning Engine technology can also give service recommendations to qualified Peterbilt technicians. 
  • SmartAir No-Idle Climate System – Available for the 567 and 579 sleeper cab models, SmartAir keeps the operator comfortable while improving the truck’s fuel efficiency. In fact, the system uses 70% less fuel than most diesel-powered auxiliary units and charges in 25% less time than other no-idle batteries. 
  • SmartNav On-Board Intelligence – This versatile infotainment system is available for any present-day Peterbilt interior and is even a standard feature of the Platinum Interior package. Each system comes complete with Bluetooth and WiFi capabilities, GPS navigation, and diagnostics monitoring right on your dash.

Efficiency & Uptime

Another area where Peterbilt stands out is the efficiency and uptime many of their models provide, so operators can make the most out of their drives:

  • Electric Powertrains – Peterbilt is now starting to design and test fully electric trucks, namely the 220EV, 520EV, and 579EV. Anyone of these upcoming models will ideally save the operator a lot of gas money, as well as reduce the amount of emissions the engine releases over time.
  • PACCAR Powertrains – Able to pump out 1850 lb.-ft of torque, the PACCAR Powertrain features one of the lightest automated 12-speed transmissions available. It also contains a Compacted Graphite engine block that can keep a well-serviced Peterbilt on the road for well over 1,000,000 km. 
  • EPIQ Technologies – When coupled with Peterbilt’s aerodynamic designs, as well as the PACCAR MX-13 engine and transmission, this software can improve your truck’s fuel efficiency up to 8% more than models without EPIQ. It can also help your dealer analyze and make recommendations for your particular truck. 

Quality & Design

Like their fuel efficiency, Peterbilt interiors and exteriors are always evolving to suit the times, many of which now feature:

  • All-Aluminum Cabs – Peterbilt cabs are made entirely of lightweight but highly durable materials. Not only does this add to the aerodynamic nature of the truck, but it also helps it hold up against all types of weather and road conditions.
  • Ergonomic Interiors – To improve the driver’s visibility, comfort, and safety, Peterbilts feature some of the most ergonomic interiors of any truck. Multiple trim levels and premium controls limit distraction without leading to a lack of options. 
  • Comfortable Sleepers – If you’re looking to do long hauls, Peterbilt offers a number of on-highway models that are outfitted with spacious sleeper cabs, complete with shelving units, storage compartments, and interior lighting. 

Safety

If safety is your concern, rest assured that Peterbilt trucks contain several key features, like:

  • Collision Mitigation Systems – Using camera and radar systems, medium and heavy-duty Peterbilts now come with powertrain integration, advanced software, and collision mitigation to maximize the driver’s safety, no matter the conditions. 
  • Headlamp Technology – Every Peterbilt cab also comes standard with High-Intensity Discharge (HID) lamps, which provide plenty of light, bulb life, and performance for the night or early morning operator. 
  • Maximized Visibility – Piloting such a large vehicle can be tricky, which is why Peterbilts come equipped with an optimal windshield and hood slope, as well as interior/exterior mirrors, giving the driver a better view of what’s around them.

Considering adding a box truck to your fleet? Learn more here.

What Kinds of Engines Do Peterbilt Trucks Use?

Remember, there are a few different engines you can find in a Peterbilt truck. While some vocational and on-highway models can be outfitted with the Cummins ISX or Westport, most truckers seek out the PACCAR MX or PX engines because they:

  • Are lighter and more reliable than other truck engine blocks
  • Allow for better fuel economy than other makes and models 
  • Have solid horsepower, torque, and payload capacity
  • Have a good resale value due to their durability and design life

Although you may find older engines in older Peterbilts, the most prominent PACCAR engine systems are the: 

  • PX-7: Light or medium-duty trucks (200-360 hp & 520-800 lb.-ft of torque)
  • PX-9: Medium or heavy-duty trucks (260-450 hp & 720-1250 lb.-ft of torque)
  • MX-11: Medium or heavy-duty trucks (355-430 hp & 1250-1650 lb.-ft of torque)
  • MX-13: Heavy-duty trucks (405-510 hp & 1450-1850 lb.-ft of torque)

What Are The Pros and Cons of Peterbilt Trucks?

Peterbilt is one of many commercial truck companies in Canada and there may be other makes or models that will better suit your needs. That said, there are also plenty of reasons why experienced truckers choose a Peterbilt above all other brands. 

Here’s a rundown of the main pros and cons of Peterbilt trucks: 

Pros 

  • Composed of lightweight, dependable parts (thanks to PACCAR and Cummins)
  • Most models have a good resale value, even with a lot of mileage
  • Better fuel economy and lower emissions than other trucks
  • A broad range of trucks available (11 models with different rear attachments)
  • Lots of interior and exterior options (amenities, infotainment, sleepers, etc.)
  • Cheaper base price and future costs than other trucks  

Cons

  • Some models may have fewer amenities and options as other trucks
  • May not be available outside of Canada or the United States
  • Maneuverability and visibility may not be as good as other trucks

How Can I Finance a Peterbilt Truck? 

While your Peterbilt truck (particularly a newer model) can be pricey at first, there are plenty of financial institutions, manufacturers, and dealerships in Canada where you can find an affordable financing or leasing plan. Before you sign any paperwork, be sure to compare several sources in your area, including the following:

  • Banks & Credit Unions – While not all financial institutions offer vehicle financing, you can apply for a personal loan and use it for a down payment or even buy the whole truck. You may also find better interest rates and security with a bank or credit union. However, it can be tough to secure a large loan if your finances and credit aren’t in great shape.
  • Alternative Lenders – If you’re denied by your financial institution, there are many alternative lenders that can offer you a truck loan or equipment loan with easier approval restrictions, wherein your truck will be used as collateral. Keep in mind that interest rates can be slightly higher here and you could risk your truck being repossessed if you don’t make payments on time.
  • Dealerships – There are also many truck dealers that can offer you in-house financing or leasing. They may even throw in extra perks, such as various warranty options and on-site repairs. That said, some dealerships aren’t as reputable or affordable as other Peterbilt financing or leasing sources and may try to sell you a truck that’s not worth the money. 
  • Manufacturers – If you prefer, you can finance your truck directly through a Peterbilt manufacturer. For instance, PACCAR Financial offers a wide selection of adjustable loan and lease options. You can also obtain a full-service rental or lease agreement through PacLease. There may even be fleet managers in your area that can offer you a pre-owned but well-maintained Peterbilt.

Looking to Finance or Lease a Commercial Truck? 

If so, you might want to consider a Peterbilt. After all, they’re reliable, affordable, and well known as one of the best commercial truck brands in North America. What’s more, Loans Canada can help you find the right financing to help you purchase a Peterbilt truck.

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