Your Guide to Bucket Truck Financing
Bucket truck or used equipment can be an investment and an asset builder for most small business owners. Instead of tying up working capital or operating capital into buying a fixed asset that can pay for itself, utilize your working capital for other expensitory types of spending.
Financing and leasing can give ownership with a free and clear title upon completion of the financing term. With flexible low monthly give your business the flexibility to use working capital for other business related expenses. Once owned, it can liquidate or sell to gain access to capital if you are no longer using the equipment. Bucket Truck Financing is the best way to gain asset without having to put out money upfront. It retains its value. You can let the equipment pay for itself.
Equipment Financing Bucket Trucks can come with many benefits. Some of them passes their amortization life therefore, you still have cash behind it as long as it has a market for it, but knowingly, bucket trucks falls under heavy equipment or commercial trucks which typically has a secondary market. For lender to resell leased returned trucks or repossessed trucks give them some of their initial investment back.
Your Monthly Payment Financing Options for Bucket Trucks
Features | Business Term Loans | Equipment Leasing | Equipment Financing |
Ownership Requirements | 50% | 100% | 100% |
Initial Costs | $0 (orig fees) | Low to moderate | Varies |
Monthly Payments | Monthly, Daily, Weekly | Monthly | Monthly |
Credit Minimum: | 550 | 600 | 650 |
Fund Disbursements | Client | Vendor | Vendor |
New/Used Equipment | n/a | Yes | Yes |
Maximum Term | 24 months | 60 months | 60 months |
Time in Business | 3+ years | Startup OK | Startup Ok |
Interest Rates | Moderate | Low | Low |
Application Only | $150K | $250K | S250K |
Funding Time | Same Day Funding | 1-3 days | 1- 5 days |
Compare Business Loans, Equipment Financing and Merchant Cash Advance
| Business Loans | Equipment Finance | Merchant Cash Advance |
Application Only | Up to $150K | up to $250k | up to $250K |
Underwriting Difficulty | Median | Median | Basic |
Pre-Credit Docs | Application, Tax Returns, Statements | Application, invoice, bank statements | Application, bank statements |
Credit Minimum | 650 | 600 | 500 |
Time in Business | 2 years | Start-up Ok! | 6 months |
Min Monthly Revenue | $50,000 | Pre-revenue OK! | $5,000 |
Needed To Fund | VC, DL, proof of ownership | Vendor invoice, VC, proof of ownership | VC, DL, proof of ownership |
Maximum Term | 3-7 Years | 5 Years | 24 Months |
Bucket Truck Financing Solutions Typically will involve two primary options:
With bucket truck financing, Liberty Capital can help you get the right financing fast and affordable. Whether you take dollar buy out lease, equipment financing agreement (EFA) or fair market value, these types of commercial truck financing assure you get the approval you need. Some banks or equipment lenders won’t finance used bucket trucks that are over 10 years old, or 5 years old, but with Liberty Capital, we have no age restriction on used bucket truck financing. Even with over 10 years old, Liberty Capital can still offer you term up to 5 years, with monthly payment and with very little down payment.
Feature | Equipment Loan | Equipment Leasing | Equipment Financing |
Ownership | Yes, after loan repayment | No, unless purchase option is used | Varies |
Initial Costs | Moderate to high | Low to moderate | Varies |
Monthly Payments | Fixed | Fixed | Variable |
Tax Benefits | Interest & depreciation deductions | Lease payment deductions | Depends on tax structure |
Risk of Obsolescence | High | Low | Varies |
Maintenance Responsibility | Yes | Sometimes included | Varies |
Long-term Costs | Potentially lower | Potentially higher | Varies |
Flexibility | Moderate | High | High |
Ask About Our Bucket Truck Financing Promo!
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 Bucket Trucks with Liberty Capital.
Fast simple online application. No financials up to $250,000. Corp-only (no personal guarantee).
Here are the benefits to financing services your next bucket trucks.
- Up to 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 not 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 Used Bucket 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)
Dollar Buyout Equipment Lease for Bucket Trucks: Dollar Buyout leases allows you to own the truck at the end of the term. Depending how old your bucket truck, you can lease it from 3 to 5 years. You can make low monthly payment. Have ownership at the end.
Equipment FInancing Agreement is like an equipment loan. There is no buyout and you have the ownership.
Both financing and leasing options offer benefits such as preserving cash flow, avoiding large upfront costs, and providing flexibility in of consistently predictable payments, tax benefits as well. Additionally, financing and leasing solutions may include all soft costs into the agreement like maintenance, installation, delivery and service agreements, furthering, your cashflow savings. It’s an inflation buster strategy.
Overall, bucket truck 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 years.
Should I buy from an Equipment Vendor or Private Seller?
Both have advantages from the pricing and accessibility standpoint. However, for equipment loan lenders, buying from a dealer give them the ease knowing that there’s a dealer who looks out and does the proper inspection to make sure used truck or equipment being sold is running to last at least the full term.
However, buying from a private seller is riskier for both the buyer and the lender. Most small business will have to make concession with the lender to accommodate for truck that’s not operational especially if costly to fix, a salvage option might be wise decision.
There are pros and cons to buying from a dealer or private seller. Liberty Capital can offer you diverse of business loan products that’s to help and guide you through your bucket truck purchase. Are you an Equipment Financing Vendor?.
Can I still Finance Bucket Truck even with Bad Credit?
Have Bad Credit? No Problem. Yes, you can still get approved.
Financing for bad credit can be accommodated but it must be structured right to avoid a never-ending paper and unnecessary time wasted. Working with the right company is the key. Here are what you can do to get approved even with bad credit.
The three things you must have if you want to get approved with bad credit.
- Down Payment
- Security Deposit
- Collateral
Depending on what’s causing your credit to be low, some can’t be avoided such as collections, repossession, bankruptcy, liens, child support and judgments. Equipment financing is like a bank in terms of credit underwriting but there are many lenders who specialize with different credit appetite. So, the best is to contact Liberty Capital to discuss your situation. We don’t charge application fees. We don’t sell your information. We only do soft inquiry.
Yes. You can still finance bucket truck even if you have bad credit. Sometimes, you might have to come up with down payment, or additional collateral, or co-signer to strengthen your application. With out 95% approval rate, you have a high chance if you meet the requirement. If you don’t get approved for leasing, as long as you have revenue, there’s always a chance you get funded through merchant cash advance (MCA). You can take MCA to purchase equipment if all else fail. You just have to grind it out to term. You don’t really look at MCA to be a long-term solution but a gap for such case when you aren’t able to get traditional financing.
How to apply with Liberty Capital?
Securing bucket truck financing is essential for businesses to grow and thrive if you don’t have the banks to back you up. You know they’re not there because they don’t like to finance used bucket truck, but Liberty Capital can get you approved for your u, new or sed bucket truck financing no matter your credit or business history at competitive rates.
We can do used bucket truck financing for startups as well. We can have you running your bucket truck with very little out of pocket money, saving you and your business cashflow.
At Liberty Capital Group, we simplify the process to get you approved swiftly. To apply, simply submit your online application along with your invoice and recent bank statements.
With flexible terms and competitive rates, we help businesses of all sizes acquire the equipment they need to succeed. Apply today and unlock the funding you need for growth and efficiency.
Our one page application can get you pr-approved up to $250,000 without financials or tax returns.
Apply now to get pre-approved so you can shop for a bucket truck confidently. For a free consultation, call our toll-free 888-511-6223 to speak with our funding specialist. No obligation conversation on what types of used truck financing you can get approved.
