Answering any financing questions!

I am new to this sites forums but here to answer anyones financing questions!

 

It kind of depends on the type of hauling you are doing and time in business. Typical down payment is first two payments up front and you should have no problem getting a 48 month term. Occasionally I have done 60 months on 2008 trucks. Rate depends on many factors-a good rule of thumb is between 6% and 9% though.

 

It can be put together as a lease or a standard finance agreement. WIth a finance agreement your last payment will pay the truck off and you will be the legal owner. A lease can be structured to have a 10-20% residual at the end or a buyout of $1. As soon as that last payment is made then you are the legal owner. And yes, with a finance agreement the bank would be listed as the lienholder and on a lease the bank would be listed as the legal owner.

 

Rontonio- Most banks would probably consider this to be a start up business. However, they would take into account your past experience so you would hopefully get more favorable terms. Either way, there are a handful of banks we work with that would consider this.

dance694u- Dispute it haha j/k. There should be a reference number reported on the credit report along with the tax lien. You should be able to reference this with the IRS to get record of it. It has worked before!