Tilt tray truck financing is available for direct business use applications as well as for companies that are providing rental services that are delivered by a tilt truck asset.
These vehicles can be used to cars, trailers, heavy equipment, shipping containers, steel material and much more.
Some of the more common commercial applications include the floating of forklifts, bobcats, excavators, backhoes, bulldozers, and other related equipment.
When acquiring a tilt tray truck, you may have the truck and tilt tray already assembled into one unit, or you may have to purchase these two items separately and get the tilt tray installed.
Either way, we can likely come up with a equipment financing solution for you.
For used tilt trucks, as long as there is significant useful life remaining in the the asset, its very possible to get financing arranged for something that is over ten years old. The newer the asset, the better potential rates and terms that are potentially available. But for older units that are in good shape, we can still arrange financing for up to three year terms.
If you are an owner operator looking to start a float business and require tilt tray truck financing to get the initial asset you need to get operational, transportation equipment financing can be arranged provided that you have good credit, good personal net worth, 10% to 20% to put down, and a business plan that shows how you are going to be able to make the payments once the financing is completed.
For established operations that are looking to add one or more trucks, you may need to provide your last completed financial statements with the application package in addition to a signed application and vendor invoice for the assets you want to purchase.
Typically a company over three years in business with good credit and positive cash flow will have a good chance at qualifying for “A” equipment financing rates through banks, institutional lenders, and leasing companies.
If the operations are less than three years in business or do not have a strong financial and/or credit profile, there can still be “B” or “C” credit options available as well.
If you have located an asset you want to acquire, a submitted application will typically get a credit decision in 24 to 48 years with funding to follow immediately after for approved applications.
There are times when the seller of a tilt tray truck may be a private individual or business as apposed to a licensed dealer.
In those situations, we can still potentially arrange financing, but the application and approval process will take more time as all financing companies will require a search and waiver process to be completed to make sure that there are no outstanding liens against the asset.
If you has some specific cash flow or taxation requirements that you would like a potential financing facility to be congruent with, we can look at different forms of operating and capital leasing facilities that can provide flexibility in both the repayment structure and the accounting and tax treatment.
So regardless of what your tilt truck financing requirements are, the first step is to give us a call so we can quickly assess your situation with you over the phone, and then provide equipment financing options that meet your requirements.
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