LOUISVILLE, Ky. — Kenworth and PACCAR Financial Corp. have introduced the Kenworth Equity Accelerator option to help truck buyers overcome rising operating costs and depressed used truck values.
Part of Kenworth’s “Three-Point Play” Program, the Equity Accelerator allows buyers to take advantage of a falling interest-rate environment, while not taking any risk if rates rise in the future. This enables buyers to lock in today’s favorable interest rates and still take advantage of any future decline in the Prime Rate.
“Equity Accelerator is a variable rate loan with the rate capped and payments calculated at (7.5 per cent in Canada),” says Tony McQuary, Kenworth assistant general manager for sales and service. “If the Prime Rate falls at any time over the loan’s life, the customer’s rate also goes down. If rates go up, the rate will never go higher than the initial (7.5 per cent).”
Under the “Three-Point Play” Program, Kenworth offers two additional attractive options on purchase of an eligible new 1999, 2000 or 2001 Class 8 dealer inventory now through May 1, 2001.
A Fuel Cost Relief option helps offset high fuel costs with $2,400 of finance incentives during the first year. The truck buyer simply strikes the best finance deal with their Kenworth dealer, then Kenworth and PACCAR Financial will pay the first $200 on each of the monthly loan payments for a year.
The Over-Allowance Financing option assists buyers who feel as though they are “upside down” in their current truck loan. This special over-allowance financing, available for credit worthy buyers, can help get them out of their old truck and into a new Kenworth.