I recently got a call from a trucker in Alabama that said he was shocked when his local credit union wouldn't finance a truck for him because he was a startup. If it is your first time using commercial financing, many banks won't consider your application.
What is required for first time tractor/trailer buyers? The easiest answer is: bring a good down payment to the table, have good credit, and buy a truck with less than 500k miles; but a rare few hit all these marks. Luckily there are a few finance programs for startup companies that can allow exceptions. In all cases some money for a down payment will help the lender take a risk on a new owner operator. You may be surprised at one of our newest programs that lets you finance your first truck for $2k-$3k down. Click the button below for our current startup programs, expected payments, and down payments.
-Spencer
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