Financing A Commercial Truck
Commercial trucks help form a vital part of the shipping industry, so owning one opens up a lot of business opportunities. But they can be a pretty big investment, so instead of purchasing one outright, consider financing one! We here at California Truck Centers know that times have been tough lately, so we’ve put together some tips for financing a commercial truck. To learn more, or to see the commercial trucks we have for sale, contact our stores across the great state of California!
Overview
Financing a commercial truck can be similar to a personal auto loan, but don’t get the two confused. For one thing, interest rates for a commercial truck can be significantly higher, since banks see trucking as a risky investment. Luckily, our in-house financing with Lee Financial Services specialize in loans for trucks, which can help cut down those extra costs.
Total Cost
Before you start hunting down specific loans, try to figure out the total cost of the truck’s purchase and make sure you can afford anticipated monthly payments. You’ll need to factor in interest rates, application fees, credit check charges, and appraisal fees meant to evaluate the market price of the truck in question. Ask us about the annual percentage rate of the loan to find the true cost, which will include all fees, and make sure you understand all the terms and your obligations before you sign anything.
Your Options
When it comes to financing a commercial truck, you’ve got a few options, whether you're a small business owner, independent contractors, or large corporation. Our Lee Financial Services team is here to help customize the best option for you and your truck/fleet.
We hope this helps you finance the truck of your dreams! If you have any questions, or you’d like to talk to our financing department about the options we have available, contact us at California Truck Centers. We proudly serve the people of the great state of California—let us serve you today!