Recommendations for Financing Big Trucks

Recommendations for financing big trucks can be many. The road to financing big trucks can be a tricky one to navigate.  Whether you’re looking to finance a single truck or an entire fleet, the road can certainly be bumpy.  Therefore, if you’re in the Transportation field and looking at options for financing big trucks, check out the suggestions provided below, as they can make your journey a bit easier:

Most profitable lenders

Select a lender that informs you about all products/options that can maximize your productivity and profitability. Seek out companies whose financing programs are most beneficial to you, such as low rates, generous payment schedules, etc.  It’s always a good idea to research different companies and then choose your lender carefully.

Good Quality Service

Select a lender that offers quality customer service. Competitive programs and low rates are important, but so is customer service. A company that works with you, addresses your questions and concerns promptly, and guides you through the application process can make the process much easier.

What You Need

Decide on the type of trucks and transportation classes that you wish to finance. Thinking of financing a warehouse vehicle (refrigerated, dry, or specialty)?  Perhaps you need a construction vehicle to handle materials or vocational or livery vehicles (motor coaches and passenger buses).  You should know the exact requirements when financing any type of class.

Be prepared

To expedite the application process, collect all documentation required to apply for financing.  As a rule, lenders require the following information for financing – legal business name and address, Tax ID, Dealer’s Invoice, Serial and VIN numbers, number of years at your current residence. Also, whether you rent or own the residence, as well as the number of years in business and in the Transportation industry.

What To Keep In Mind

It’s also important keep in mind that lenders’ requirements vary depending on the size of a loan.  For example, for loans up to $100,000, the application is often the only documentation requested.  If you’re seeking a loan between $100,000-$750,000, two years of financial statements and six months of bank statements are usually required.  Loans up to $10 million generally require six months of bank statements.

These are recommendations for financing big trucks . It’s crucial to research the lenders that you’re considering.  National Advance Group is a premier lender that offers fair packages while helping you through application process.  Give us a call to see the difference!

National Advance Group

1 Linden Place Suite 404

Great Neck, NY 11021

Tel 516-482-3210

Fax 516-482-3221