Frequently Asked Questions
How long does the truck financing process take?
For transactions involving other trucks or equipment for collateral the time from application to funding usually takes about a week. For deals involving real estate it takes about two weeks to allow time for the title work on the property
What is the interest rate?
We write the transaction up as a lease purchase agreement so you can expense the monthly payment off your tax returns. Because of the lease purchase there isn't an interest rate. This will allow for substantial tax savings.
What is the minimum credit score?
We don't have one! Because we get additional collateral we can work with people with very low scores.
Can I buy from a private party?
Absolutely. We encourage you to find the best deal you can whether from a dealer or private party.
Can I buy from an auction?
Again, we want you to get the best deal you can on your equipment. We suggest getting pre-approved a week before the auction so you have the financing in place before you go.
What happens if I can't make a payment?
Call us. 90% of our transactions are in the trucking business. We know that motors fail, contracts get lost, divorce, the list goes on. As long as you keep in communication with us we can work with you to resolve the matter. Think of us as your partner. We are in this for the long haul.
Can I pay this off early?
Yes, you can pay the entire balance without a penalty after nine months. Or you can do what many of our clients do which is pay extra each month and pay it off early that way. The extra amount goes towards principle.
How is the truck registered?
You are listed as registered owner. Our bank is listed as lien holder
How do I get started?
Just fill out our online application. Someone will get back to you right away.