SIMPLE GUIDE TO DUMP TRUCK TO FINANCING & LEASING
At Liberty Capital Group, Inc. Group, Inc., we offer new or used dump truck financing to all industries who qualify. Pre-approval is free. We never charge application fee. We work with private and dealers. Our finance and leasing programs improve cashflow and liquidity while preserving capital, and benefiting from tax advantages equipment financing brings and provide predictable, affordable low fixed monthly payments.
We’ve been financing in the trucking and construction industry for 20 years.
Here we’ll guide you on how to get Dump Truck Financing and Leasing.
Dump Trucks have become synonymous within the Construction, building demolition and dirt hauling. It’s have always been a vital equipment no matter what country. Construction would struggle without the help of Dump Trucks for constructions. Companies that specialize in the construction of roads, buildings, and other projects will need specialized workload requires the need of the like of dump trucks, belly-dumb trailer, crane trucks, and more heavy equipment. A lender like Liberty Capital can help you lease your next new or used dump truck or trailers.
Dump truck financing makes it possible for heavy construction businesses to succeed with dump truck financing. As the market goes through different economic stages and seasons, it’s not uncommon for construction companies to take a hit during a slow period in the market. But, when the building expansions happen, you can count on dump trucks to keep its resell value.
Does it make sense to Finance or Lease a Dump Truck?
There are two types financing agreements – Lease or Finance. When choosing the right financing for your next dump truck, you have options. It’s critical to your business to pick the right one. Your preference is based on your specific needs.
- First, is the “Dollar Buy Out” lease. “Fair Market Value” is the other form of equipment lease.
- You can structure your dump truck loan as Equipment Finance Agreement, where lender is just a lienholder and you’re the owner from day one.
- You can structure it as a TRAC Lease. A terminal rental adjustment clause lease (TRAC Lease) combines all the advantages of dump truck leasing while retaining the option to purchase the equipment at the end of the lease term at a predetermined residual agreed to when the lease starts. This is a great way to dump truck lease to own.
- Dump truck finance agreements and “$1 buyout leases” give you ownership just as you would have when paying cash but gives you the cashflow benefit of not having to come out of pocket for the full cost of Dump Truck.
- Building equity of the ownership can enable you to build assets for your business. Upside proceeds gained from the sale of Dump Truck.
Dump Truck financing will give you lower monthly payments which will result in improved cash flow. Financing allows you to upgrade your dump truck. It can benefit your balance sheet with off-balance-sheet financing. Full tax deductibility. The IRS code allows the dump truck company to maintain the “full deductibility” of a true/operating dump truck lease. It’s only best to factor by choosing financing for your next dump truck.
7 Different Types of Dump Trucks You Can Finance.
- Standard Dump Truck: This is the most common type, featuring a truck chassis with a dump bed mounted on the frame. It typically has a hydraulic piston system to lift the bed for dumping.
- Articulated Dump Truck (ADT): ADTs have a pivot joint between the cab and the Dump Box, allowing for better maneuverability on rough terrain. They are commonly used in construction, mining, and earthmoving applications.
- Transfer Dump Truck: Also known as a “slinger” or “slingers,” these trucks have separate trailer units with individual Dump Beds. They can deposit materials precisely and are commonly used in highway construction and paving projects.
- Super Dump Truck: Super dump trucks feature an additional axle at the rear, allowing for higher Payload capacity while maintaining maneuverability. They are often used for transporting heavy loads over long distances.
- Side Dump Truck: Side dump trucks have hydraulic cylinders on either side of the bed, enabling the load to be discharged by tilting the bed to the side. They are ideal for dumping materials in tight spaces or alongside obstacles.
- Off-Road Dump Truck: Also known as “haul trucks” or “rock trucks,” these vehicles are designed for use in rugged off-road conditions, such as mining and quarrying operations. They have large, heavy-duty tires and high ground clearance to navigate rough terrain.
- Semi-Trailer End Dump Truck: These trucks consist of a tractor unit pulling a separate trailer with a Dump bed at the rear. They offer high maneuverability and are commonly used for hauling and dumping aggregate materials on construction sites.
Startup Credit Requirements for Dump Truck Leasing.
- Online Application
- Driver license, Business license or active business entity with the secretary of state
- Personal guarantees required from all owners.
- Minimum 650 credit score
- No bankruptcies in the last 7 years
- No unresolved tax liens
- No application fees.
Call 888-511-6223. Liberty Capital today get approved for financing and leasing new or used dump trucks.
How to Become a Preferred Equipment Finance Vendor.
If you’re a dump truck dealer, you want the best leasing company, the best broker or the best direct lender, but not all have the same expertise when it comes for financing new or used Dump Trucks. Vendors who offer our Vendor Financing and Leasing, usually find it very helpful when selling large ticket items like dump trucks, trailers and construction equipment.
As a dealer having an easy to understand CREDIT GUIDELINES will help you get your client pre-approved quickly and easily.
Get a reliable funding partner to make your vendor financing strong DOWNLOAD our EQUIPMENT VENDOR FINANCING
If you would like Liberty Capital to provide financing for your new or used dump truck buyers, let us get you approved today as vendor. Dump Truck vendors in your who offers Dump Truck Equipment are likely to have higher sales and happy salespeople. We fund nationwide truckers and construction companies.
Considering Renting or Financing a Dump Truck?
Dump Truck: Rent vs Lease.
People who can’t get traditional financing or leasing ends up renting. Renting is extensively more expensive than traditional equipment leasing.
If a bank isn’t willing to give you the funds to buy a dump truck, you could look for dump trucks to rent from other person or go through company like Penski organizations, or Enterprise, or U-Haul, which may offer Short-Term Rental or leases.
Dump trucks for rent can also be a great option for businesses are just starting out, or those who want to test the “construction industry.” Or, if your project is for short-term that doesn’t warrant long-term leasing. Or, if you want to avoid shelling out large amounts of working capital funding until they’ve developed better cash flow for unknown future projects. Leasing is always good to consider.
Getting a dump truck financing is a great way to gain access to a used dump truck or a new dump truck for your business without having to deal with capital outlay for heavy assets. This is especially important for businesses that are newer or don’t have very high Credit Scores yet. Dump Truck Financing can build payment history while benefiting from taxes and appreciation.
What are the pros and cons to lease a dump truck.
Whether you’re looking for dump trucks financing to lease, want to get a loan, or just want to rent one, make sure to understand the needs of your business so that you know which option will benefit you the most. Maybe your project requires one truck, but you need two, you can lease, rent or finance.
To get approved for dump truck financing, start shopping around for year, make and model that suits your budget.
If you are in need of dump truck financing for your business, we invite you to contact us toll-free at 888-511-6223 or Fill out our online application. One of our equipment leasing specialist will be ready to assist. Apply today.
Do You Need Good Credit to Get Dump Truck Financing!
If you have low, bad or no credit score, don’t fret. Our financing programs allows for all types of credit. Liberty Capital can help businesses gain access to the dump trucks they need through used or new dump truck leasing and financing for bad credit. Instead of relying on credit to get one funded, we can structure a financing for you company that meets your credit profile and credit risk. Simply get preapproved for a dump truck leasing today before you shop.
With dump truck Financing, construction businesses of all sizes, ages and credit profiles can gain access to dump trucks, service trucks and other construction trucks they need to build and sustain a thriving business. Make sure to work with dump truck leasing companies that knows how to structure such complicated financing.
Liberty Capital strives to provide you with an unparalleled dump truck Funding Experience. Whether you have good credit or bad credit, have been in business for years or just starting out, there’s a way to lease dump truck for everyone.
Simplified Dump Truck Financing
We know that your time is a valuable resource when it comes to running a company. Working with a reliable lending, Liberty Capital uses a simplified application process to get you approved for financing. Compared to Traditional Banks, our approval process is fast and less burdensome.
- 120% of the dump truck cost
- Up to $250,000 with a simple one-page application.
- Up to $5,000,000 with financial disclosure.
- Next-day dump truck approval
- 90-day deferred payment options
- No down payment requirements for well qualified truckers
- Simple application process
- New and Used Dump Truck Financing
- No pre-payment penalty
- Best dump truck financing rates in the industry
- Private seller, vendor, or dealers
How to get Approved for Dump Truck Financing?
Acquiring Dump Truck through Financing
It’s like buying a house, you want to get pre-approved first before shopping. Any big-ticket item that you’re planning not paying cash, you must get pre-approved first. Need to know the budget for any down payments that might be needed, typically look for a minimum of 5% to 40% depending on credit and business profile, industry, and net worth.
So, detail your project, and plan your purchase accordingly, equipment financing is a big move and a long-term liability with long-term consequences. When dump truck operator purchases a truck, but the job doesn’t last as the term, it’s imperative to understand your responsibility.
We invite you to contact us for a free consultation by calling our toll-free at (888) 511-6223 or Fill out the quick online application.
How to get approved for dump truck financing?
- Sign Application with Credit Authorization
- 3 – 4 months bank statements
- Invoice or Quote
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.
New or Used Dump Truck Financing Promotion
Apply to well qualified credit.
- 12 x $99 Promo: Customers pay only $99 for the first 12 months! This is a terrific way for customers to Deferred Payments – allowing equipment time to generate revenue.
- ZERO payments for 3 months – conserves cash.
- Competitive structures up to 84 months (about 7 years).
- $0 Down Payment for Equipment Financing
- Low Documentation and Admin Fee
- Quarterly, Annual or Semi-Annual Payments for Farmers
- Low Credit OK! Start Up OK