How to Get a Trucking
Lease
The trucking industry is a competitive one. It is a high
cost, high labor industry that has you logging thousands of
miles to be self employed, and isn't that what it is all
about? The freedom to be your own boss and earn your own
rewards. At Truck Finance Pro, we understand this, and we
know that you deserve the best, most honest, upfront
trucking leasing experience to get you on the road.
We have put together this guide to help you get the process
rolling, whether that means you are adding to your fleet or
just starting with your first truck. Following the steps
below can help minimize the stress and maximize the
trucking finance options available to you.
* Credit Score - This is quite possibly your biggest
ally when it comes to trucking financing. Think of this
score is a compilation of you as a consumer. Data
concerning your credit has been compiled since you
opened your first credit card or took out your first
loan. The better your credit interactions have been,
the higher the credit score, which in-turn means you
will qualify for more money at a lower interest rate.
If you have been negligent with your credit - paying
bills late or defaulting - you will have a low score.
If you have a low score you may not qualify for any
trucking loans. To determine your score contact all
three credit bureaus or we can find it out for you when
we process your application.
* Income - In order to qualify for trucking loans you
need to establish that you have a viable source of cash
flow. To a lender, this means you must have an income.
If you do not have a job or contracts you will not
qualify for any of the trucking finance options
available.
* Financing - Once you have established a positive
credit score and solid income you need to seek trucking
financing. Do not pick out the truck prior to getting
financing. You should use the trucking loans you
qualify for as bargaining tools when you go to pick out
your rig. Typically the best option for financing is
the trucking lease. This will enable you to write off
the cost of the truck and give you lower down payments.
* Details - The devil is in the details, as they say,
and there is no exception here. When you settle on a
truck, you need to be very aware of the additional
costs you will accrue. One of the most costly is the
insurance. You may need to provide this at the time of
purchase or simply be able to obtain it, but be
fore-warned that it is a necessity. The other detail
that people lose sight of is season. You must be able
to make your trucking lease payments in the off season.
At Truck Finance Pro we want to make your experience
obtaining trucking leases a positive one. We work quickly -
getting results in as little as two days - and we know that
we can work with you to get you the trucking loans you
need. So what are you waiting for? Fill out the form on the
side of the page and we can get you on the road.
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