Finding financing for your heavy truck purchase can be just as hard or harder than finding the truck itself. Although financing options can be difficult to navigate, following some simple steps can help make the process easier. Here’s how to get the best semi truck financing.
Determine Eligibility for Semi Truck Financing
Lenders often require you to meet certain qualifications. For example, having a good credit score and money for the down payment usually make you more likely to qualify. However, requirements vary, so if you have poor credit then look for a lender that offers options to low credit buyers.
Gather Information for the Application
Take time to gather the documentation you’ll need for the application process. Again, this varies by lender but it’s likely to include things like your commercial drivers license, proof of your business, and any required certifications.
Look for the Right Used Truck for Sale
Check out used trucks for sale to find one that fits your needs. Remember that if you get financing, the lender may also have requirements the truck needs to meet like being less than a certain number of years old or having fewer than a certain number of miles.
Find Insurance and Truck Maintenance
Showing proof of proper insurance is also helpful in closing a loan, so look for good insurance for your heavy truck. This is also a good time to find a semi truck maintenance shop so you’ll be prepared when you need semi truck maintenance.
Fill Out an Application
Once you have everything in order, all you need to do is apply for semi truck financing and get approved for your loan.
Getting financing to purchase used trucks for sale doesn’t have to be complicated. At Calgary Heavy Truck & Collision our expert team is here to help. Contact our team today to get the best rates with no hassle