truck financing - looking to refinance

Before you refinance have you had the finance company give you an all in total of any charges or fees in order to cancel your current contract. In some cases they may be too high to make up for them through a lower interest payment.

Very few banks will lend money on equipment as it is not their primary business. What you could look at doing, is try to secure the truck loan with a second position on your house to provide them with a more stable asset to borrow against.
You will have to call around to the equipment financing companies. How old is your truck, some companies wont finance used equipment as they expect resale value and remaining life to be lower and repair costs can be higher introducing more risk for them.

 

http://www.ooida.com/Benefits&Services/Services/Truck_Finance/truck_finance.shtml

 

Most credit unions charge simple interest. Most banks charge compound interest. The interest rate could be the same but you will pay a lower effective rate with the credit union. Some banks will not lend on class 8 equipment but may make a commercial loan using the truck as collateral. There are lenders that specialize in financing class 8 trucks. Paccar, International Harvester (Navistar), Mercedes Credit are three that do financing. There are others you may find by googling "equipment financing." If you can find a local bank it would likely save you money and be easier to deal with them.