How to Finance your Bucket Truck

Here at I-80 Equipment, we pride ourselves on providing our customers with top-notch trucks and service. It’s what we’ve been doing since our inception. Part of our commitment to outstanding service is providing financing options that make it easy for you – our valued customer – to get the right truck at the right price. If you’re wondering how to go about financing your truck, this blog post has an overview.

Consider Your Trucking Business’ Expenses

Your business will incur two types of expenses, initial (non-recurring) and continuous (operating). Once your business is up and running, you will always need enough capital on hand to pay for employee salaries, fuel, rent and inventory, to name a few. Additionally, you must consider the cost of acquiring equipment outside of your actual truck. This includes things like office furniture, computers, phones and printers. As you can see, there are quite a few expenses that come with owning and operating a business that depends on a reliable commercial truck.

Truck Financing 101

One of the most common questions that trucking business owners ask themselves is, “should I buy or finance my truck?” There is no right or wrong answer to this question; it is a personal choice based on the business’ individual trucking equipment needs and financial situation. Purchasing your truck with cash requires a significant up-front payment, and this can dilute your business’ savings. Here are some of the key benefits of truck financing and truck equipment leasing:

Allows for 100% Financing
Prevents Truck “Obsolescence”
Flexibility for Truck Upgrade
Budget Saving Payment Plans
Preserve Cash flow and Credit Lines
Simple One-Page Credit Application
Tax Advantages

I-80 Equipment hopes you found this information about truck financing helpful. If you have any questions, or are interested in acquiring trucking equipment, please contact us today.

 

Altec AA755 MH- 2004 International 4300 Bucket Truck

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