Semi Truck Financing Requirements | Basic Requirements for Big Rig Truck Loans

🔥🔥🔥For more info about financing a semi truck:
Email -- Info@TheBroker.Finance or (714) 271-8524 (text or call)

In this video, I talk about Semi Truck Financing Requirements. Here's a brief recap.

First off, we function as a broker so we have a lot of different lenders that finance equipment. With that said, I'm guessing that you landed here because either A) You've tried to get semi truck financing from a dealer and you perhaps could not get financed OR B) you're looking to start a business and you're just wondering about the requirements.

So, I'll try to cover as I can in a short video here. We have so many lenders and they all have a different appetite, but I'm just going to highlight what it takes to get into a semi truck. Keep in mind that people that have been in business for five years and have a fleet of like 10 or more, they can just get financed at the dealership........they maybe don't even need financing, BUT they can get the best A rating, top tier financing at any semi truck dealership.

I'm here to help those that can't get big rig financing at the dealership.

First off, I can finance anyone if they have a 40% down payment. It can be a 40% cash down payment or it could even be secondary collateral. Let's say you have heavy equipment or another semi truck that's free and clear, then it can potentially be used as secondary collateral.

That's for start ups, pretty tarnished credit etc. We can pretty much finance anybody with a down payment of 40%. However, we don't necessarily want to have you put down that much because cash is king and you're going to need that cash for your logistics business. So, we're always looking to put your in the program that will require the lowest down payment given the particulars of your application.

What's that going to take. Let's say you've got OK credit and you've been around for 2 years, well you might be able to get down payment options ranging from 15% - 35% (again, depending on all the variables).

I have lenders that will do 0-10%d down, but you've got to be in business for 5 years, you have to have a fleet of quite a few trucks, you have to have perfect credit........there's just a long list of things required to get 0-10% down for a semi truck. For all else, if you can put down 15-35%, I've probably got a program for you (especially if you can do 20-35%).

Again, they (commercial truck lenders) they just look at all the particulars. So many things. They look at how long in business, credit scores, late payments, any similar credit. If you have credit cards, how much if available vs total limit. Do you have any business credit.? Any D & B rating?.....and on and on. There's about 15 different things these type of lenders look at.

🔥🔥🔥For more info about financing a semi truck:
Email -- Info@TheBroker.Finance or (714) 271-8524 (text or call)

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