The best thing you can do for yourself when you are looking to obtain financing for a semi truck is to raise your credit score. But it is probably not for the reasons you think. In the world of semi truck financing, your credit score is used to determine your monthly payment amount, not to determine if you qualify for a loan or not. Though, if you have a low credit score, you will have trouble obtaining a loan. There are many different things you can to do increase your credit score in a relatively short time. Here are a few of them:

1. Verify the limits on your current credit cards – Obtain a free copy of your credit report, which you are entitled to once a year under The Fair Credit Reporting Act. Then review the report for accuracy. Make sure the limits you have for each credit card is listed accurately on your credit report. If not, it looks like you are maxing out your credit cards each month and this is not a good situation to be in when you are trying to obtain financing to buy a semi truck. If you do find that your limits are not portrayed accurately on your report, simply call up the credit card company and ask them to update it.

2. Raise your current credit card limits – Call your current credit card companies and ask them to raise your limits. But, and this is important, don't increase your spending habits. The key is to have a credit utilization ratio of 30% or less. A credit utilization ratio is the ratio of your card balances to credit limits. It is calculated by diving your card balance by your limit and then multiplying the results by 100.

3. Negotiate current card payoff amounts – If you have debt remaining on an unused or unwanted credit card, it's time to take care of it. Write a letter to the credit card company and request a "good will adjustment." You can also ask to settle your account for a lesser amount than what you actually owe, as long as they report on your credit history that the bill was "paid as agreed." Better yet, ask them to remove the item from your credit history all together. And always make sure you have agreement with the credit card company before you send them any money.

4. Get credit card if you don't already have one – If you don't current have a credit card, now is the time to get one. If you are having trouble getting approved for a traditional card, then get a secured credit card that reports to all 3 major credit bureaus, which are Experian, TransUnion, and Equifax. In order to get your credit score up quickly, you must pay your monthly bills on time and don't charge more than your limit.

When you are ready to purchase your own semi truck, you need to be aware that obtaining financing for this type of vehicle isn't the same as when you are buying or leasing a new car. Since semi trucks are much more expensive, financiers are usually stricter about whom they give loans to. Also, your credit score and financial history plays a different role in obtaining semi truck financing than it does in the world of regular cars and trucks. If you utilize these 4 tips, you will raise your credit score and increase your chances of getting a loan to buy a used semi truck. If you have any questions, call your local semi truck financing company or visit a site like http://www.arrowtruck.com/.