Truck and Equipment Financing
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When financing a truck or trailer, many dealers will offer their own in-house
financing. Be sure to do your homework and be prepared to provide proof of insurance. Your dealer may be a great place to get truck financing.
Talk to your local bank and see what lease and loan rates they offer. Often smaller banks who know you
may be able to provide more flexible financing than a large commercial bank who runs by
the numbers. On the other hand, established commercial banks understand small
businesses and are typically better prepared to ansewer your questions. These lease institutions usually
have a history of established lease
processes to ensure all customers are treated fairly when leasing or financing equipment or semi trucks.
Talk to other truckers and get feedback on their experiences and who they have financed there semi truck
with successfully. We have partnered with DIRECT CAPITAL CORPORATION, a
leader in on-line lending who is fully capable of providing a large variety of truck and
trailer, equipment and commercial financing. It is important
to perform some due diligence to see which leasing or financing company suits your situation.
It is also crucial that you understand your credit rating and the impact this may have on
your rates. Get a copy of your free credit file disclosure, commonly called a credit
report. ANNUAL CREDIT REPORT.com is a
central site allows you to request a free credit file disclosure, commonly called a credit
report, once every 12 months from each of the nationwide consumer credit reporting
companies: Equifax, Experian and TransUnion.
The goal of financing is to provide you with stable equipment or semi truck, allowing you to earn, save
and pay it off to become debt free. If your deal does not help you do this, you may want
to shop some more. If a deal sounds too good to eb true it probably is. If you do not
understand completely the contract, ask and get answers before committting to it. Your
business and life are too important to be left to misunderstandings.