Find a reputable company to finance your equipment purchases.
Equipment finance companies specialize in lending capital for the purchase of additional trucks for your fleet. They are more familiar with financing truck purchase than a traditional bank. The financing companies lends money for the truck and the truck serves as the collateral for the loan. If you default on the payments or go out of business, the equipment finance company can recoup their capital buy liquidating the truck. Because these loans are backed by an asset, the loans often have low interest rates and long terms.
Selecting the right company to finance your equipment is one of the most important decisions a trucking company makes.