Finding the right lender who thinks beyond a banker's approach of relying on lending guides to establish loan values for commercial trucks is important. The current credit climate is challenging and understanding what your options are can be confusing when in many cases it is the lender whose situation has changed more than yours. An example of this is when GE Capital, one of the biggest names in commercial lending essentially ran out of money to lend in the last few months of 2008.
A lender who understands the value of the truck or equipment that you use to make a living in your business is not tied in his thinking to "Blue Book" values. He understands that a good used truck that can do the job you need done for the period of his loan is just as, if not more important than the assets value. An example of this is a hardly used 2000 E450 Spartan Body KUV with a 7.3 diesel and 47k original miles we sold recently. A business with great credit tried to get his bank to finance it for 3-4 weeks, the truck is not even in the blue book and if it were it would be valued at about half of what we sold it for. We found the right lender for him & it was done within a few days. A truck like this has much more value sometimes than what guides suggest and sometimes you need lenders who understand that.
We have a variety of financing to fit most business needs. As an example we are proud to offer programs through Hitachi Credit and locally Vantage West Credit Union along with a number of other companies that cater to a variety of businesses and financial situations. Even if you have your own sources of finance it never hurts to have more options to choose from.
Here you can use our online form to get a quick and accurate response on financing your next commercial vehicle. Your financing information is encrypted in a super-safe digital format and is never sent through E-Mail.