Get Competitive Terms and Rates for Commercial Trailer Financing
Trailer Financing & Leasing Solutions
Considerations for Financing Used Commercial Trailer Equipment
Leasing vs. Buying
Leasing: Lower initial costs, ability to upgrade to newer technology, and tax benefits. Leasing companies may offer flexible terms.
Buying: Higher initial costs but ownership of the asset, potential for better long-term savings, and possible depreciation benefits.
Loans and Financing Options
Bank Loans: Traditional financing through banks with competitive interest rates and terms.
Equipment Financing Companies: Specialize in commercial trailers and equipment leasing and equipment loans, offering tailored financing solutions like equipment finance agreement.
Vendor Financing: Many Trailer manufacturers offer in-house financing options to make purchasing their equipment more accessible.
When it comes to commercial trailer lease financing, Liberty Capital Group, Inc. offers several advantages over traditional lenders:
v Corp-Only Availability: We cater exclusively to corporations, providing tailored financing solutions for businesses. Corp-only doesn’t apply to start up. Corp-only doesn’t substitute for having bad credit. Corp-only doesn’t automatically apply because your company is corporation or LLC.
v Up to 120% Equipment Cost Coverage: Our financing options can cover not only the equipment cost but also associated soft costs.
v Flexible Funding Amounts: Access financing ranging from $250,000 with a simple one-page application to $5,000,000 with financial statements.
v Quick Approval Process: Benefit from next day funding approval, ensuring minimal downtime for your operations.
v Approved Equipment Vendors: We work with approved packaging equipment vendors, streamlining the acquisition process for our clients.
v Lowest Industry Rates: Enjoy competitive rates for qualified borrowers, reducing the overall cost of financing.
v Eligibility for New and Used Equipment Financing: Whether you’re purchasing new or used equipment, we’ve got you covered.
v Minimal Impact on Personal Credit: Our equipment financing solutions do not appear on personal credit reports, preserving your personal credit history.
v No Early Payoff Penalties: Enjoy the flexibility of paying off your equipment financing or leasing early without incurring early payoff penalties.
Understanding Equipment Lease Agreements
Carefully review the lease agreement before signing is critical make sure you’re not signing an FMV Lease when the salesperson says dollar buyout. Key components to check include:
Ø Payment Terms: Understand the monthly payment amount and due dates.
Ø Maintenance and Repairs: Determine who is responsible for maintenance and repairs.
Ø End-of-Lease Options: Know your options at the end of the lease, such as purchasing the equipment, renewing the lease, or returning the equipment.
Ø Early Termination: Be aware of any penalties for early termination of the lease.
Ø Advance Payment: First and Last, security deposit or down payment might be required. Check your equipment lease agreement to make sure you are aware of any money upfront to consummate the lease financing agreement.
Equipment financing is a type of loan also known as “equipment lease” that enables businesses to acquire equipment without paying the full equipment cost upfront. This type of financing is crucial for industries that rely on heavy equipment and machinery, heavy duty commercial trucks and trailers., healthcare or technology to operate. The financing can cover a wide range of equipment, from construction machinery and manufacturing tools to medical devices and IT Infrastructure.
Definition: Equipment financing is a form of business financing for commercial trailer and trucking industry, where you acquire equipment for a specific term rather than purchasing it outright using working capital. At the end of the lease, you may have the option to buy the equipment, renew the lease, or return the equipment if there’s a buyout.
Benefits of Commercial Trailer Equipment Financing
Ø Lower Initial Costs: Financing reduces the need for large upfront capital outlays.
Ø Cash Flow Management: Helps maintain cash flow by spreading costs over time.
Ø Access to Up-to-Date Equipment: Allows you to upgrade to the latest equipment more frequently.
Ø Tax Advantages: Lease payments may be tax-deductible as operational expenses.
Covers many types of new or used commercial trailers and equipment
Easier to get than a traditional business loan
Less paperwork
Fast processing time
Less stringent requirements for qualifying
No collateral needed, the equipment is the collateral
May require less credit score for you and your business as well
Commercial Trailer Financing Application Only up to $250,000
Budgeting for Financing
v Initial Costs: Some leases require a down payment or initial fees. Factor these into your budget.
v Monthly Payments: Ensure your cash flow can comfortably cover the monthly lease payments.
v Additional Costs: Insurance, delivery, sales tax and other additional warranty or services that might be included in the equipment financing purchase.
End-of-Lease Considerations
As the end of your lease term approaches typically within 6 months, you must inform the lessor that the lessee is intending to keep the equipment or do the following options:
v Purchase: If you’re satisfied with the equipment and it meets your long-term needs, consider purchasing it.
v Renew Lease: If the equipment is still in good condition and meets your needs, you may choose to renew the lease.
v Upgrade: If newer, more efficient models are available, consider financing the latest equipment.
v Sell the equipment and payoff the lender
Bank Hopping for Equipment Loans: Why It’s Time-Consuming and How Liberty Capital Can Help.
Searching for the right equipment lender especially if you’ve already been turned down by your bank, by hopping from one bank to another just trying to figure out whether they will approval you can be a time-consuming and frustrating process, especially if you have challenging credit. Each application involves time-consuming paperwork and potential rejections. If you get turned down, how many more lenders will you apply to before seeking better options from a loan broker?
Working with an equipment loan broker like Liberty Capital can streamline the process, saving you both time and money. Brokers have access to multiple lenders that can structure any credit profile specific to you, even if your credit is less than perfect. With their expertise and network, brokers can navigate the complexities of loan applications and increase your chances of approval. You may not know all the intricacies of equipment financing thus a loan broker will be able to help you navigate.
So why go through the hassle of bank hopping when Liberty Capital can do the work for you, ensuring you get the best possible deal?
What do I need to apply?
1. ONLINE APPLICATION: You can fill out our application, upload and authorized us to process. We do soft-inquiry, and our lender will do hard inquiries once you are approved.
2. Equipment Invoice or Quote for the truck or equipment you want to buy. Multiple vendors accepted. We’ll lump them into one monthly payment for you.
3. Banks statements (3-4 months) – Proof income, proof of banking, and proof funds availability in case down payment is needed and to match for ACH Payment Drafting – as an auto pay.
Equipment financing is vital for businesses that need expensive equipment to operate efficiently. Companies in construction, manufacturing, healthcare, and other heavy equipment-intensive industries benefit significantly from these financial solutions. Understanding the options and working with top financing companies can help businesses acquire necessary equipment while managing cash flow effectively.
What is Equipment Financing?
At Liberty Capital Group, Inc., we offer aggressive trailer financing programs designed to meet the diverse needs of our clients. Our solutions typically involve two primary options:
– Equipment Financing: Spread the cost of your trailers or trucks over time with fixed payment terms.
– Equipment Leasing: Opt for off-balance sheet financing with Fair Market Value (FMV) leases, providing flexibility at the end of the lease term.
Additional Financing Benefits Our financing options include:
– $99 for the First 6 Months: Start with minimal upfront costs.
– 90-Day Deferred Payments: Pay nothing for the first three months.
– Working Capital Loans: Access short-term cash flow solutions for immediate needs.
– Fast Approvals: Apply online for funding up to $250,000 with a Streamlined Process.
Preferred Leasing Vendors
Utilizing our extensive experience in commercial truck financing on trailers and trucks, we can assist you in finding reputable vendors for new or used equipment. Additionally, if you’re a vendor seeking financing for trucks, we’re ready to serve your needs.
Get Started Today!
If you’re seeking a reliable funding partner for your commercial trailer financing needs, apply online today or call our Funding Specialists at 888-588-4128 for personalized assistance. Let Liberty Capital Group, Inc. empower your business with comprehensive financing solutions tailored to your requirements.
Our small business financing experts are available to guide you through the funding Process.
Despite technological advancements, loans, especially in commercial trailer equipment financing, predominantly involve personal interaction with an underwriter to ensure as fraud prevention. Automation may not suffice, particularly when dealing with a third party like the vendor and the complexities of equipment purchase. In such scenarios, business owners are often better served by collaborating with a Business Loans Broker like Liberty Capital Group, Inc., who can steer them in the right direction.
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