Transportation Equipment Financing
Transportation Equipment Leasing for road licensed vehicles covers a very large number of asset types, makes, and models.
To give you a better idea of just want can be financed in this equipment class, the following is a brief list of the more common forms of transportation equipment that are pre approved for equipment financing by Canadian based lenders and leasing companies.
- Step DeckTrailer
- Super B Train
- Tank Trailer
- Van Trailer
- Refrigerated Trailer
- Float Trailer
- Tanker Trailer
- Dry BulkTrailer
- Transfer Trailer
- Dump Trailer
- Livestock Trailer
- Scow
- Shuttle Bus
- Transit Bus
- Front End
Loader Truck- Side Load
Garbage Truck- Rear Load
Garbage Truck- Recycling Collection
Truck- Crane Truck
- Boom Truck
- Flat Bed Truck
- Articulated Dump
Trailer- Low Boy Trailer
- Light Duty
Trailer- Long Trailer
- Box Trailer
- Flatbed Trailer
- Reefer Trailer
- Hiboy Trailer
- Bottom Dump
Trailer- Curtain Side
Trailer- Cherry Picker
Truck- Fire Truck
- Panel Van
- Emergency Vehicle
- Sanitation Truck
- Ambulance
- Truck Tractor
- Panel Truck
- Cube Van
- Single Axle Van
- Tandem Axle Van
- Tandem Dump
Truck- Tank Truck
- Single Axle
Tank Truck- Highway Tractor
- Highway Tractor
Trailer- Tractor With
Sleeper- Tractor Without
Sleeper- Service Truck
- Snack Truck
- Welding Truck
- Tow Truck
- Tour Bus
- Motor Coach
- Bus
When it comes to business financing for the transportation industry, equipment financing is by far the largest single form of capital that is available to transportation service companies due to the intensive use of on road assets.
Because of the large market demand, there are also several financing companies that primarily focus on transportation equipment financing and still others that provide capital on smaller scale specialty equipment.
The leasing companies that have transportation financing programs will usually consider both new and used transport equipment. The used market also has a large number of regional players that tend to be closely linked with auction houses, liquidators, and equipment vendors for disposing of any equipment they may acquire through operating lease or operator payment default.
Because of the strong and liquid resale market, operating leases tend to be more prevalent in the transportation industry than other industries operating in Canada. The choice of capital versus operating lease is really a business decision to align with whatever equipment replacement strategy a particular company is following.
Outside of the larger transport companies, equipment finance companies also provide lending and leasing programs to owner operators. Some of the major credit requirements for smaller operators include home ownership and a reasonably solid credit profile.
At the same time, there are financing programs for all levels of credit, keeping in mind that lower forms of credit will not only be harder to come by, but will have higher financing costs and faster repayment requirements which will be more difficult to cash flow.
If you require transportation equipment financing, please give us a call so that we can quickly review you situation and outline your options.