Best Comprehensive Guide to New or Used Flatbed Truck Financing
Introduction to Flatbed Trucks and Their Importance
Flatbed trucks are essential utility vehicles utilized in various industries. They serve distinct purposes, with flatbed trucks providing a safe platform for personnel to work at heights, transport heavy loads. Flatbed typically work hand in hand w/ a forklift to load and unload any weights it carries. Flatbed and Forklift Equipment can be packaged as one when it comes to getting it financed so you don’t have to have multiple payments even if you’re buying it from multiple vendors. They’ll lump all the cost and provide one monthly payment.
Challenges During Supply Shortages
Supply shortages, exacerbated by events like the COVID-19 pandemic, have driven up prices for commercial trucks, making it less affordable for small businesses to acquire new or used flatbed trucks and used equipment. Trucks and Equipment Financing becomes crucial to manage cash flow effectively.
Benefits of Financing Used Equipment
Financing used flatbed allows businesses to convert operating capital into valuable assets without significant upfront costs. This approach retains liquidity while enabling immediate access to functional business equipment. Furthermore, commercial truck loans can be an inflation buster.
Understanding Flatbed Truck Configurations for Business Owner
Flatbed trucks come in various configurations suited to different applications: Each type serves specific industries and tasks, providing versatility and efficiency.
Here are ten common types of flatbed trucks and their typical use cases:
- Telescopic Flatbed Trucks:
– Use Case: Ideal for tasks requiring long reach both horizontally and vertically, such as construction projects, material handling at warehouses, and infrastructure maintenance.
- Articulating Flatbed Trucks:
– Use Case: Suited for navigating tight spaces or reaching around obstacles, making them valuable for urban construction sites, landscaping projects, and building maintenance in congested areas.
- Knuckle Flatbed Trucks:
– Use Case: Well-suited for loading and unloading cargo, handling materials in confined spaces, and performing logistics operations in industries like construction, forestry, and transportation.
- Flatbed Trucks:
– Use Case: Combining features of both flatbed trucks and aerial platforms, they are utilized for maintenance, installation, and repair work at elevated heights, such as utility maintenance, signage installation, and building exterior maintenance.
- Aerial Work Platforms (AWPs) on Flatbed Trucks:
– Use Case: Equipped with aerial work platforms instead of traditional crane flatbeds, they provide a stable working area for tasks at height, such as painting, window cleaning, and maintenance of high-rise buildings.
- Utility Flatbed Trucks:
– Use Case: Customized for utility companies and municipal services, these trucks are used for tasks like repairing power lines, streetlight maintenance, and telecommunications infrastructure maintenance.
- Flatbed Tow Trucks (Wreckers):
– Use Case: Essential for towing disabled vehicles, recovering vehicles from accidents, and transporting vehicles to repair facilities, making them indispensable for towing companies and roadside assistance services.
- Flatbed Roll-off Trucks:
– Use Case: Designed for transporting and dumping large containers or bins, they are commonly used in waste management, construction debris removal, and recycling operations.
- Heavy Haul Flatbed Trucks:
– Use Case: Equipped with heavy-duty capabilities, they are utilized for transporting oversized or overweight loads, including construction equipment, machinery, and industrial components, often used in heavy haulage and specialized transportation.
Each type of flatbed truck is tailored to specific industries and applications, offering versatility and efficiency in their respective use cases.
What Industries Rely Heavily on Flatbed Trucks?
Several industries heavily rely on flatbed trucks due to their versatility and ability to transport a wide range of goods and equipment. Some of the industries that use the most flatbed trucks include:
- Construction: Flatbed trucks are essential for transporting construction materials such as lumber, steel beams, concrete blocks, and heavy machinery to and from construction sites. They are also used for hauling equipment like excavators, bulldozers, and cranes.
- Transportation and Logistics: In the transportation and logistics industry, flatbed trucks play a crucial role in the movement of goods, particularly oversized or irregularly shaped items that cannot fit into enclosed trailers. They are commonly used for transporting machinery, vehicles, construction materials, and oversized cargo.
- Manufacturing: Manufacturing facilities often require flatbed trucks to transport raw materials, finished products, and large machinery between different locations within the facility or to distribution centers. Flatbed trucks are also used for delivering goods to customers or suppliers.
- Farming and Agriculture: Flatbed trucks are utilized in agriculture for transporting crops, livestock, farm equipment, and supplies. They are essential for tasks such as hauling hay bales, transporting livestock trailers, and delivering agricultural machinery to farms.
- Utilities and Infrastructure Maintenance: Utility companies and municipal services use flatbed trucks for maintaining infrastructure such as power lines, telecommunications equipment, streetlights, and water pipes. These trucks are equipped with specialized attachments or platforms to perform maintenance and repair work at elevated heights.
- Oil and Gas: In the oil and gas industry, flatbed trucks are used for transporting drilling equipment, pipes, pumps, and other heavy machinery to remote drilling sites. They are also utilized for hauling supplies, chemicals, and materials needed for oil and gas exploration and production activities.
- Forestry and Logging: Flatbed trucks play a crucial role in the forestry and logging industry for transporting timber, logs, and forestry equipment. They are used to haul harvested wood from forests to sawmills, processing facilities, or distribution centers.
- Waste Management and Recycling: Flatbed trucks are employed in waste management and recycling operations for transporting dumpsters, roll-off containers, and recycling bins. They are also used for collecting and transporting bulky waste, construction debris, and recyclable materials to recycling facilities or landfills.
- Landscaping and Outdoor Services: Landscaping companies utilize flatbed trucks for transporting landscaping materials such as soil, mulch, plants, and rocks to job sites. These trucks are also used for hauling landscaping equipment, lawnmowers, and gardening supplies.
- Emergency Services and Disaster Relief: During emergencies or natural disasters, flatbed trucks are utilized by emergency services, disaster relief organizations, and government agencies for transporting supplies, equipment, and temporary shelters to affected areas. They are essential for rapid response and recovery efforts.
These industries rely on flatbed trucks for their transportation needs, making them indispensable assets for various operations and sectors.
How To Get Financing for Flatbed Trucks for Your Business?
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) available.
Here are the benefits to financing your next used Flatbed trucks.
- Up to 110% on New Truck Financing
- Master Agreement up to $5,000,000
- Loc Doc, Fast Approval and Funding
- 12 – 72-month fixed payment terms
- No down payment required for well qualified borrowers.
- Lowest Rates in the industry for qualified borrowers
- Eligibility for all new and used flatbed truck financing.
- Will not appear on personal credit reports.
- No pre-payment penalties – Discount for Early Payoff
- Off-balance sheet financing – Fair Market Value, 10% Buyout
- Lease – $1 buyouts – No Balloon Payment
- Equipment Finance Agreement
Comprehensive Guide to Roll-Off and Garbage Truck Financing
- $99 for the first 6 months: Requires only $99 to start.
- 90-day Deferred Payments
- $0 Down Equipment Financing
- Off balance sheet financing – Fair Market Value, 10% FMV
- Capital Lease – $1 buyouts
- Equipment Finance Agreement
- Lease Rental Purchase Option (RPO)
Liberty Capital's Used Flatbed Financing Solutions
Liberty Capital offers comprehensive financing solutions tailored to businesses’ needs, including dollar buyout leases, equipment financing agreements (EFAs), and fair market value leases. Certain equipment has no age restrictions on used flatbed trucks. Due to the second market of used trucks, most lenders offer flexible terms with minimal down payments.
Financing and Leasing Options
Equipment financing typically involves two primary options:
– Used Truck Financing: Allows businesses to spread equipment costs over time, making it more manageable.
– Used Truck Leasing: Provides off-balance sheet financing with options such as Fair Market Value (FMV) leases, offering flexibility at the end of the lease term.
Truck Financing Promotions and Benefits
Advantages of Financing with Liberty Capital
Fast online application processes, next-day funding, competitive rates, and diverse truck loan programs make Liberty Capital a preferred choice for new or used equipment financing. Financing options won’t impact personal credit reports, providing further flexibility. While you build asset you also benefit from the tax advantages.
How to Apply for Used Flatbed Financing?
Securing Flatbed 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 equipment, but Liberty Capital can get you approved for your Used Flatbed Trucks or any other business equipment no matter your credit or business history. We can do used flatbed truck financing for startups as well. We can have you running your Flatbed 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, and upload 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, you’ll be assigned an experienced funding manager. You’ll be able to discuss your options, discuss the process and how to get funded fast. Apply today and unlock the funding you need for growth and efficiency.