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March 14, 2002 9:57 AM, EST

Slumping truck sales and a glut of used equipment are giving truck buyers great bargains, but a rising number of defaults and repossessions has also made it more difficult for truckers to get financing.

Truck dealers say lenders are more selective about whom they lend money to and have been slow to respond to a turnaround in prices in recent months for certain models of low-mileage used trucks.

“We’ve seen a 7% to 10% increase in prices,” said Ron Lipman, used truck manager at Truck Enterprises in Harrisonburg, Va.

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