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Trademark Capital Finance - experiences?

Discussion in 'Canadian Truckers Forum' started by gokiddogo, Jul 25, 2016.

  1. Jul 25, 2016 #1
    gokiddogo

    gokiddogo Road Train Member

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    Ontario Canada
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    Anyone have experience with Trademark Capital Finance out of Markham, ON? I have never financed the title through any other than a bank, where the truck was titled in my name but the bank had a lien on it. Would it stay in the finance company's name until the last payment is made, at which point it would be transferred into my company's name?
     
    gokiddogo, Jul 25, 2016
    gokiddogo, Jul 25, 2016
    #1
    shreemike Thanks this.
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  3. Jul 25, 2016 #2
    gokiddogo

    gokiddogo Road Train Member

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    Second question. When I bought my first truck with a bank loan not a finance company loan - the bank did all the searches for liens on equipment - how do I go about this if I pay cash?
     
    gokiddogo, Jul 25, 2016
    gokiddogo, Jul 25, 2016
    #2
  4. Jul 26, 2016 #3
    Bike rider

    Bike rider Bobtail Member

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    We work with Trademark, they are a finance broker, the funds will come from a finance company that they have a relationship with. Yes, the ownership will stay in the finance company's name until the last payment is made, this is quite normal.
     
    Bike rider, Jul 26, 2016
    Bike rider, Jul 26, 2016
    #3
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  5. Jul 26, 2016 #4
    Bike rider

    Bike rider Bobtail Member

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    As for your second question, it depends where you are buying the truck, if its a private sale then you can always do Carfax on your own with the complete VIN, but if you are buying from a dealer they will do a lien check on their own before they bought the truck, you could request a copy if you are worried about a lien, they might show it to you and they might not. Make sure you do a lien check in the province that you think the truck was registered in, As an example Trimac plates all of their trucks in Alberta, even if you are operating out of Mississauga; so run a Carfax in Alberta.
     
    Bike rider, Jul 26, 2016
    Bike rider, Jul 26, 2016
    #4
    gokiddogo Thanks this.
  6. Apr 20, 2018 #6
    shreemike

    shreemike Bobtail Member

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    Yes. Not a good experience.
     
    shreemike, Apr 20, 2018
    shreemike, Apr 20, 2018
    #6
  7. Apr 20, 2018 #7
    shreemike

    shreemike Bobtail Member

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    Not a good experience
     
    shreemike, Apr 20, 2018
    shreemike, Apr 20, 2018
    #7
  8. Apr 20, 2018 #7
    shreemike

    shreemike Bobtail Member

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    Apr 20, 2018
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    Not a good experience.
     
    shreemike, Apr 20, 2018
    shreemike, Apr 20, 2018
    #7
  9. Apr 20, 2018 #8
    shreemike

    shreemike Bobtail Member

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    You got to be careful with them. Stay out of them if you can.
     
    shreemike, Apr 20, 2018
    shreemike, Apr 20, 2018
    #8
  10. Apr 24, 2018 #10
    Newfie82

    Newfie82 Bobtail Member

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    Apr 24, 2018
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    Can you expand on your experience
     
    Newfie82, Apr 24, 2018
    Newfie82, Apr 24, 2018
    #10
  11. Apr 24, 2018 #10
    gokiddogo

    gokiddogo Road Train Member

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    Ontario Canada
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    I found my own family financing. Rather give the interest to the family than a bank. If I die, they get the asset and can sell for repayment.
    I owe my own bank for my trailer. Rather go through what I know than new sources. The way I have it worked, I will never owe more than the asset is worth. Everybody happy.
     
    gokiddogo, Apr 24, 2018
    gokiddogo, Apr 24, 2018
    #10
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