20th Anniversary Commercial Truck Financing Solutions
As Liberty Capital Group, Inc. commemorates its 20th anniversary, it symbolizes two decades dedicated to empowering businesses with innovative financing solutions. Evolving from its origins as a commercial truck financing broker, Liberty Capital Group now offers a diverse range of loan types, including crucial fast cash working capital a necessity for business survival.
The Commercial Truck Financing Program stand out among its offerings, serving as essential tools for companies within the transportation industry seeking to expand their fleets or acquire new vehicles for local delivery service companies.
Commercial Truck encompasses an wide range of vehicle types such as box trucks, lift truck, reefer trucks, bucket truck, boom truck, crane truck, garbage truck, tow truck and many more. These services cater to a broad spectrum of clients now including the new last-mile delivery emergence of independent drivers utilizing Uber, Walmart Spark, and Door Dash delivery services.
In today’s landscape, characterized by the instant gratification mindset of the Gen Z demographic, the growth of last-mile delivery services is paramount. This trend is particularly pronounced in metropolitan hubs like Honolulu, Hawaii, New York, San Francisco where reducing reliance on personal transportation ownership is increasingly unpopular.
For residents of such cities, foregoing personal transportation can translate to significant monthly savings, including expenses related to car payments, insurance, and the hassle of parking. Embracing alternatives of personal transport frees up disposable income.
This newfound financial flexibility aligns with the preferences of the new generation.
“Liberty Capital Group, Inc.” proudly celebrates 20 years of empowering small business owners from 2004 to 2024.
As your trusted small business funding lender and broker based in California, we’re dedicated to your success. Your success is our success. Whether you’re a startup or an established business, we offer fleet financing solutions that’s affordable with lowest rates, including new or used trucks where for financing, leases or loans. Specialty equipment like lift truck financing, restaurant equipment, box truck, medical equipment, and heavy assets can easily qualify for a “monthly business loans”.
No credit? Bad credit? Not a problem. But you must have been in business over 2-years if you have bad credit, for startup you need good credit.
We specialize in supporting businesses of all sizes. Equipment loans for manufacturing business.
Start-up ok but must have a good credit. Startups can qualify for Commercial Truck Financing Program offered by Liberty Capital Group. are indispensable assets for businesses operating in the transportation sector. These tools are particularly essential for companies aiming to expand their fleets or procure new local- to long-haul tractors and dry van trailers.
The Backbone of Commerce: Commercial Trucks
Commercial trucks are the backbone of commerce, facilitating the movement of goods across vast distances and ensuring timely delivery to businesses and consumers alike. However, acquiring these essential vehicles often presents a significant financial hurdle for many businesses. Providing tailored financing options designed to meet the diverse needs of trucking companies, logistics firms, and independent owner-operators.
Tailored Financing Solutions
Recognizing that every business is unique, Liberty Capital Group offers flexible financing solutions that cater to various budgets and requirements. Whether it’s financing for a single truck or funding to expand an entire fleet, businesses can rely on Liberty Capital Group to deliver personalized financing packages with competitive rates and terms.
Key features of Liberty Capital Group’s Commercial Truck Financing Program include:
- Fast Approval Process: Time is of the essence in the transportation industry. Liberty Capital Group understands this urgency and streamlines the financing process to ensure quick approvals, allowing businesses to acquire the vehicles they need without unnecessary delays.
- Flexible Payment Options: Liberty Capital Group offers flexible payment options, including fixed or variable rates, tailored to suit the cash flow dynamics of each business. This flexibility empowers businesses to manage their finances effectively while investing in their growth.
- New and Used Truck Financing: Whether businesses prefer to purchase new trucks or opt for cost-effective used vehicles, Liberty Capital Group provides financing options for both, enabling businesses to make strategic decisions based on their budget and operational requirements.
- Special Financing programs
- $0 Down
- 1 Advance Payment
- 90-day deferred payment
- $0 buyout, no prepayment penalty
- Monthly payment up to 5 years
Fleet Leasing Solutions
In addition to traditional financing, Liberty Capital Group offers comprehensive fleet leasing solutions designed to optimize efficiency and minimize operational costs for businesses with larger vehicle fleets.
Key benefits of Liberty Capital Group’s Fleet Leasing Solutions:
- Cost Savings: Leasing allows businesses to acquire the latest trucking equipment without the hefty upfront costs associated with purchasing. With Liberty Capital Group’s leasing solutions, businesses can conserve capital and allocate resources more efficiently.
- Maintenance and Service Packages: Liberty Capital Group’s fleet leasing solutions often include maintenance and service packages, relieving businesses of the burden of managing vehicle upkeep. This proactive approach helps minimize downtime and ensures that vehicles remain in optimal condition, reducing the risk of unexpected repair costs.
- Upgrade Flexibility: As technology evolves and business needs change, flexibility is paramount. Liberty Capital Group’s fleet leasing solutions offer businesses the flexibility to upgrade their vehicles at the end of the lease term, ensuring that they always have access to the latest innovations in trucking technology.
- Asset Builder: As you pay off these assets over the life of the term, you balance sheet assets will increase as these will be free and clear and fully amortized that if you decide to liquidate you have asset, business capital you can use to leverage for other business funding.
- Cashflow management: You will save on cash rather than paying them upfront over a life of a term w/ a monthly payment will be best for cashflow management. Dollar-Buy out leases will have your equipment ownership at the end of the term.
Celebrating 20 Years of Empowering Businesses
As Liberty Capital Group commemorates its 20th anniversary, it reaffirms its commitment to empowering businesses across industries. Through its Commercial Truck Financing Program and Fleet Leasing Solutions, Liberty Capital Group continues to be a trusted partner for businesses in the transportation sector, providing the financial support and expertise needed to navigate the road to success.
Whether it’s helping a small trucking company acquire its first vehicle or assisting a large logistics firm in expanding its fleet, Liberty Capital Group remains dedicated to driving the success of its clients, one truck at a time.
In the dynamic world of commerce, where every mile counts, Liberty Capital Group stands ready to fuel the journey towards prosperity, today and for the next 20 years and beyond.
Not ready to apply? Get a quote, see your payment and prequalify instantly.
Should You Lease, Rent or Finance Your Next Commercial Trucks?
If you need to get a new commercial truck for your business, you have the option of renting, leasing or financing the vehicle. While all these methods require you to make monthly payments while you get your truck on the road, there are a few differences between them which can help you choose between these alternative methods.
Commercial Truck Lease
Going for the lease option for a commercial truck is quite similar to renting an apartment. You can start using the truck immediately but with some rules till the end of your lease. Similar to renting an apartment, the person who has leased the truck to you would be responsible for the maintenance and repairs of the truck unless the damage has been caused by the misuse or neglect by the user.
The user makes monthly payments, like you would pay rent. Most of the times, the commercial truck lease is for at least three to five years, according to the terms of the lease. The leasing company usually buys the truck and then allows the user to make use of the vehicle.
There is also the possibility that once the lease for the commercial truck is over, the user may have the option of buying the truck from the owner rather than returning it back to them. The purchase price of the truck would be the residual value determined by the original documents of the truck lease. The whole idea is that the price of the truck should be much lower than buying it outright, like having a rent-to-own contract.
Commercial Truck Financing
Financing commercial trucks or a commercial truck loan allows the user to make payments on a monthly basis for a particular period of time, similar to the commercial truck lease. The main difference between them is that when you are financing a commercial truck, you are actually making payments toward the actual value of the truck. As soon as the terms of the loan are complete and the user has made all payments properly, they will become the owner of the truck.
Difference Between Lease and Rent
Lease is an instrument or a contract that transfers the right to use a property or an asset to another person for a specific period of time. Rent is a periodic payment made to the owner of a property or an asset for using that particular property or asset as determined by the rental agreement.
The length of the agreement for the lease is usually between six and twelve months, but it can also be set for any other length of time on which the two parties agree upon in the lease agreement. On the other hand, a rental agreement ends every month and can be renewed if that’s what both parties want. This renewal can even be automatic.
When it comes to renting, there is also the rental purchase option which combines the convenience and flexibility of a rental transaction with the ability to own that asset. This means you can see if the asset works for you and buy it later if you prefer.
How to Decide Which Option to Choose
The questions you must ask yourself before deciding whether you should rent, lease or finance your next commercial truck are as follows:
- How long do you need the truck for?
- What is the intended use of the truck?
- What are the long-term goals of the business?
- What is the current tax situation?
- What is the state or condition of your existing trucks?
- What is the creditworthiness of the business?
- How is the cash flow situation like?
- How is the ability of the business to manage the maintenance of the asset?
When Should You Rent
Commercial truck or commercial vehicles should be rented when your transportation needs are for the short term, such as for a couple of months. If the needs are for the long term, the best thing is to consider a lease for the commercial vehicles.
Renting can be a good solution if the business is seasonal or if there has been a sudden increase in demand, like new customers who may require additional fleet, but the business does not consider the demand or requirement to sustain for a long duration. Renting may also be considered if the commercial vehicle requires too much maintenance or will be outdated for the business soon.
Like many other fleet and service trucks, tow truck companies don’t have the luxury of testing out the equipment like you would if you want to rent a BOX TRUCK or VAN or a Trailer from Herzt or Penske Truck Rental.
When Should You Lease?
Leasing has become quite a popular option in recent years due to the changing technology in most industries. There are various options in terms of equipment leasing or new or used commercial truck leasing. Leasing proves to be an inexpensive method in the short term as compared to the ownership option since you are only paying for using the vehicle. When it comes to leasing, it also requires less upfront cost and there are less credit restraints of the purchase.
There are certain benefits of a commercial truck lease. For example, the monthly payments for a lease are lower as opposed to financing the truck because in a lease, you are not paying for the cost of the truck. The lease does not require a down payment either, so you would not need to give a lump sum in one go. Moreover, a lease agreement avoids a person getting into debt and gives the user the option to upgrade to a better or new vehicle when the terms of the lease are complete.
Leasing should be considered as a viable option when the cash flows of the business are slim and the margins being made on the particular project are tight. Leasing can also be considered if your business is growing fast and you need to invest cash in other areas. Leasing through a company like Enterprise Rental gives you wide variety of option and the convenience without having to worry about your personal credit to access truck rental.
When Should You Finance (Buy)?
The most obvious advantages of equipment financing or vehicle financing are the tax considerations and depreciation of the asset, where a business can save money through taxes. There are, however, ownership costs which must be considered.
When you are buying a commercial truck or vehicle, especially if it is on credit, you are building up equity in your books. This means that you have the ability to trade that vehicle for a newer one if you find that there is a need to upgrade. This option, however, also exists when it comes to leasing.
The biggest advantage is that at the end of the term, you would be the owner of a truck.
When you finance an asset, there are other costs involved as well, which you have to bear as the owner, such as the management and maintenance of the commercial truck.
Advantages and Disadvantages
- Ideal if the need is only seasonal.
- There is no financial commitment involved.
- Businesses can determine which type or model of commercial truck works for them.
- Eliminates the need to take care of the maintenance of trucks.
- You can have the latest fleet of commercial trucks.
- You do not own the truck.
- You end up paying more over the long run.
- You have to be extra careful.
- No down payment.
- Lease payments may be deducted from taxes.
- Lower monthly payments.
- You can have access to a brand-new truck.
- You can transition into a new truck every few years.
- You do not own the truck at the end of the term.
- Your mileage may be restricted to the number of miles.
- You may end up paying more over the years.
- You may have to pay additional wear and tear costs.
- Tax benefits or depreciation.
- You do not have to worry about returning the truck.
- You can modify it however you want.
- You do not have to worry about any damage.
- There is more flexibility as you can sell the car as and when you want.
- Higher down payment.
- Monthly payments are higher than lease payments
- You will have cash tied up in the car.
Ask About Our Financing Promotion:
Liberty Capital accommodates clients with to financing options that will yield very little working capital outlay.
Here’s our current promotion to save on cashflow.
- $99 for the first 6 months: Requires only $99 to start
- 90-day Deferred Payments
- $0 Down Equipment Financing
What you get when you finance equipment with Liberty Capital.
Fast simple online application. No financials up to $250,000. Corp-only (no personal guarantee).
Here are the benefits to financing your next commercial trucks.
- 120% equipment cost
- Up to $5,000,000 with financial statements
- Next-day funding approval
- 12 – 72 month fixed payment terms
- No down payment required for qualified borrowers
- Lowest Rates in the industry for qualified borrowers
- Eligibility for all new and used equipment financing
- Will no appear on personal credit reports
- No pre-payment penalties
- Other off-balance sheet financing – Fair Market Value, 10%
- Lease – $1 buyouts
- Equipment Finance Agreement
Types of Commercial Truck Financing and Leasing
- Off balance sheet financing – Fair Market Value, 10% FMV
- Capital Lease – $1 buyouts
- Equipment Finance Agreement
- Lease Rental Purchase Option (RPO)
How to apply
Securing commercial truck financing is crucial for business growth and success, especially when traditional banks are not an option.
Liberty Capital, established 20 years ago this year, have seen many lenders, banks and investors come and go. You can always count on us to get you approved for your next truck financing regardless of your credit or business history. We offer financing for startups. With Liberty Capital Group, you can finance with minimal out-of-pocket expenses, preserving your cash flow.
Our process is straightforward to ensure swift approval. Simply submit your online application along with your invoice and recent bank statements. We provide flexible terms and competitive rates, helping businesses of all sizes acquire the necessary equipment. Apply today and secure the funding you need for growth and efficiency with Liberty Capital Group.
Commercial Truck Financing and Equipment Loans in America
As of January 2022, the number of truck drivers in the United States was estimated to be around 3.5 to 3.6 million. However, this number may have fluctuated due to various factors such as changes in industry demand, economic conditions, and shifts in workforce demographics. For the most accurate and up-to-date information on the number of truckers in the US in 2022, I recommend consulting recent reports from organizations such as the American Trucking Associations (ATA) or the Bureau of Labor Statistics (BLS). They often provide comprehensive data and analysis on employment trends in the transportation sector.
The trucking industry employs millions of people around the country, from warehouse workers to delivery truck drivers, and generates hundreds of billions of dollars annually. Trucks in all forms are the lifeline between producers and consumers; basically, there is no supply chain without the trucking industry. Transportation may come in many forms, but ultimately end-point in the supply chain is the delivery truck. Delivering goods remains dynamic, and what remains constant is the ever-increasing demand from consumers keeps trucking a vital industry.
Trucks do not last forever! Industry and regulations allow the engine renovation to flourish, forcing new technology to make the trucking industry not just mile efficient but also environmentally friendly. Typical diesel trucks emit carbon compared to the hydrogen or electric semi-trucks. These types of trucks are what the industry disruptors are focusing on when building the next fleet of heavy equipment like semi-trucks. Electric semi-trucks or hydrogen-powered semis give trucks more than the typical current mileage semi-trucks can operate without becoming a burden to operate—basically, 500,000 miles of life.
Lenders see semi-trucks over 500k in mileage to be worth less than those trucks that have less mileage. The average miles each truck travels per year are over 45,000 miles, and the average lifetime of a long-haul truck is 15-16 years. Cost prohibitive repair costs will make it easier to finance new trucks than giving loans to pay for repairs soon-to-be obsolete trucks with devalued asset value.
With regular maintenance and upkeep, most commercial trucks, small box trucks, and business short-haul trucks today can last for more than 100,000 miles. Their costs vary from $30,000 to $61,000 depending on if you need a refrigerator truck (cold) or just a delivery truck. Semi-trucks can vary from $80,000 to $150,000 or more. Trucks are a good portion of a business’s expenses and can use up cash-on-hand quickly.
Small Business Types of Financing for the Transportation and Trucking
To maintain cash flow, take advantage of write-offs and depreciation; most long and short-haul trucking companies either lease or finance their trucks. Equipment Finance Agreement is the recent form of equipment loan small business can obtain. The difference between equipment lease and equipment loan is that there is no balloon payment at the end of the term. Ownership start out right. Leasing with buyouts are still available but the popularity of the equipment loan has made it not only easy but convenient for lenders as they don’t have to deal with sales tax implications on some types of equipment leases including titling and DMV fees and taxes. They’re basically a loan is made to a trucking company with a lien to the vehicle with very little usage restriction. There are many different financing options for trucking companies, and a few of these options include:
Terms on alternative financing utilized for the transportation industry will be only 12 months to 24 months. Funding amounts can be as high as $5,000,000, and collateral is not always required for a traditional working capital loan, line of credit or term loans. If you go with a traditional bank, you will likely be required to put up additional collateral with bigger down payment than typical alternative lenders.
Alternative Merchant Cash Advance for Trucking Companies
When deciding to finance, you can start with our online application.
Overall, equipment financing and leasing solutions from Liberty Capital Group, Inc. will enable you to have the right funding partner. Liberty Capital Group, Inc. has served small businesses for over 20 year.
