Follow this guide to see if semi truck financing is right for you. Also look at our 2nd Chance Financing Programs page.
Get Back on the Road Again With Semi Truck Financing
Is the right equipment the only thing holding your business back from success? You don’t have to sweat it – there are options out there for you. Choosing semi truck financing is an excellent way to get your business up and running or give it the boost it desperately needs.
Whether you’re stuck in a rut, don’t have enough trucks or trailers necessary for your team, financing can help you get them.
Is Semi Truck Financing Right for You?
This kind of financing could really help you, but first, follow this step-by-step guide to make sure it is the right choice for you and your business:
The Benefits of Semi Truck Financing
Some of the benefits of financing a semi truck instead of buying one are:
- Saving money every month
- Business Tax benefits
- Earn more with your own trucks
- Quick and easy funding
- Convenient repayment schedule
- Get on the road faster
Learn more about the benefits by clicking here!
Know your credit score, but don’t let it define you.
While credit scores are important in business, having previous bankruptcy or bad credit doesn’t mean you have to give up. While it can be tough to get lenders to accept your financial requests, it is not impossible. There are programs out there for people with all kinds of credit histories!
In fact, Axe Business Funding offers bad credit semi truck financing with our 2nd Chance Finance Programs.
If you have ever applied for insurance, a loan, a credit card, or a job, you should know that Consumer Reporting Agencies (CRAs) collect information about you in order to provide credit history to the companies where you apply for credit. This information allows lenders to assess risk – how likely it will be that they will receive a return on their investment. Your credit score is the first impression you give of yourself and your business when applying for a business loan. So if you need construction equipment or a semi-truck, you’ll want to make sure it shines as much as possible! But bad credit doesn’t mean it’s impossible to get a loan or financing.
If you’ve got bad credit or a rocky credit history, don’t give up on your business dreams! There’s still a way to get semi truck financing if you need it. If you need financing and have credit problems, click the button below to learn more about how to get the financing you need for your business.
Look at Your Budget
Small business owners typically don’t have the money necessary to purchase a semi truck outright. Semi truck financing makes truck ownership possible for these business owners. An initial down payment of about 20% of the total cost is assessed for challenged credit deals. Then you make affordable monthly payments after that until you pay it off. These “chopped up” payments save you money right now, allowing you to use the rest to run your business. Therefore, semi truck financing is perfect for the budget-conscious business owner.
Don’t forget that you will need to pay for gas, insurance, tolls, and road taxes, too! It’s important to remember to include these when calculating your semi truck financing budget. The right program for you may not be the right program for someone else!