{"id":224,"date":"2023-03-16T00:24:06","date_gmt":"2023-03-16T00:24:06","guid":{"rendered":"https:\/\/yourfinancepartners.com\/?page_id=224"},"modified":"2023-03-16T00:53:07","modified_gmt":"2023-03-16T00:53:07","slug":"commercial-truck-loans","status":"publish","type":"page","link":"https:\/\/yourfinancepartners.com\/loan-services\/commercial-truck-loans\/","title":{"rendered":"Commercial Truck Loans"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"224\" class=\"elementor elementor-224\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-42641f04 e-flex e-con-boxed e-con e-parent\" data-id=\"42641f04\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-7b1bfe8b e-con-full e-flex e-con e-child\" data-id=\"7b1bfe8b\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-713619b8 elementor-widget elementor-widget-image\" data-id=\"713619b8\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 30-04-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/yourfinancepartners.com\/wp-content\/uploads\/2023\/03\/seb-creativo-3jG-UM8IZ40-unsplash-scaled-e1634832846708-1024x512.jpg\" class=\"attachment-large size-large wp-image-226\" alt=\"\" srcset=\"https:\/\/yourfinancepartners.com\/wp-content\/uploads\/2023\/03\/seb-creativo-3jG-UM8IZ40-unsplash-scaled-e1634832846708-1024x512.jpg 1024w, https:\/\/yourfinancepartners.com\/wp-content\/uploads\/2023\/03\/seb-creativo-3jG-UM8IZ40-unsplash-scaled-e1634832846708-300x150.jpg 300w, https:\/\/yourfinancepartners.com\/wp-content\/uploads\/2023\/03\/seb-creativo-3jG-UM8IZ40-unsplash-scaled-e1634832846708-768x384.jpg 768w, https:\/\/yourfinancepartners.com\/wp-content\/uploads\/2023\/03\/seb-creativo-3jG-UM8IZ40-unsplash-scaled-e1634832846708-1536x768.jpg 1536w, https:\/\/yourfinancepartners.com\/wp-content\/uploads\/2023\/03\/seb-creativo-3jG-UM8IZ40-unsplash-scaled-e1634832846708.jpg 2000w\" sizes=\"(max-width: 800px) 100vw, 800px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2f660c10 e-con-full e-flex e-con e-child\" data-id=\"2f660c10\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6132b4eb elementor-widget elementor-widget-heading\" data-id=\"6132b4eb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 30-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Commercial Truck Loans<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3fb998d8 elementor-widget elementor-widget-text-editor\" data-id=\"3fb998d8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 30-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>If you are in any business that requires a commercial truck and are weighing the option to either own or loan your vehicle, thorough research is imperative to the success of your business. If not done right, it can prove to be costly without a significant capital investment. Finding the right finance partner is possibly the most important aspect of ensuring your business prosperity. In this article, we will discuss:<\/p><ul><li aria-level=\"1\">What are commercial trucks?<\/li><li aria-level=\"1\">Difference between financing and lending<\/li><li aria-level=\"1\">Food truck financing<\/li><li aria-level=\"1\">Big rig lending<\/li><li aria-level=\"1\">Finding the right finance partner<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-40590723 e-flex e-con-boxed e-con e-parent\" data-id=\"40590723\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-2d396626 e-con-full e-flex e-con e-child\" data-id=\"2d396626\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6a4f7a7 elementor-widget elementor-widget-heading\" data-id=\"6a4f7a7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are Commercial Trucks?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b2cda77 elementor-widget elementor-widget-text-editor\" data-id=\"b2cda77\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Commercial trucks cannot be categorized as one specific type of truck but refer to trucks that are used for various commercial or business purposes. Vehicles that are used by businesses in the day-to-day course of their work, or used to carry commercial goods, inventory or to deliver commercial services, is known as a commercial truck.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3cae069a elementor-widget elementor-widget-heading\" data-id=\"3cae069a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is the difference between financing and lending?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e8f6882 elementor-widget elementor-widget-text-editor\" data-id=\"5e8f6882\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h3><strong>Financing<\/strong><\/h3><ul><li>A financial loan to a business for the purposes of buying assets the business may need<\/li><li>Paid back over an agreed period<\/li><li>Once the loan is paid off the business fully owns the asset<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e8ad58a elementor-widget elementor-widget-text-editor\" data-id=\"5e8ad58a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Ownership of your own assets gives you a competitive advantage in whichever industry you may be in.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ae32992 elementor-widget elementor-widget-text-editor\" data-id=\"ae32992\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h3><strong>Lending<\/strong><\/h3><ul><li aria-level=\"1\">Renting an asset in return for monthly payments<\/li><li aria-level=\"1\">The lease agreement is over an allocated time frame, typically one to three years, but can be flexible.<\/li><li aria-level=\"1\">No ownership at the end of the agreement<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f97ee56 elementor-widget elementor-widget-text-editor\" data-id=\"f97ee56\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>This is an option to consider if you have been struggling to get approval for a substantial loan amount, or if you do not want to worry about depreciating the assets of vehicles.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4138c6e0 elementor-widget elementor-widget-heading\" data-id=\"4138c6e0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Food Truck Financing<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-41bdf0fa elementor-widget elementor-widget-text-editor\" data-id=\"41bdf0fa\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>A business trend that has grown exponentially in the past five years is food trucks, influenced by the significant surge in gastronomy in the United States.<\/p><p>Financers have differing criteria to qualifying businesses for loans but there are some universal guiding principles, such as:<\/p><ul><li aria-level=\"1\">The business should have been operating for a minimum of 6 months<\/li><li aria-level=\"1\">Should have a minimum monthly revenue of $10,000 or more<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3217a72 elementor-widget elementor-widget-text-editor\" data-id=\"3217a72\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In some instances, particularly if your credit score does not meet the minimum requirement, between 550 and 640 as a minimum, you may need to provide cash or some form of collateral for a down payment. Alternatively, you could get a co-signer with good credit.<\/p><p>Should you have good credit, however, you may be required for a down payment of 5-20% of the loan amount.<\/p><p>Bad credit may not hinder you from getting financing for your food truck, though, you will be offered lower fees the higher your credit score is.<\/p><p>Building a good credit score is vital and if you can delay requesting finance to fix it, you will qualify for more manageable payment terms.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5db01da elementor-widget elementor-widget-text-editor\" data-id=\"5db01da\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li aria-level=\"1\">Do thorough research on the various options available for financing your food truck<\/li><li aria-level=\"1\">Get quotations from various financing companies before settling for a deal<\/li><li aria-level=\"1\">Include all the expenses you\u2019ll need to cover with your loan<\/li><li aria-level=\"1\">Consider padding your loans with a little extra in the event of unforeseen costs or emergencies.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8e81dfb elementor-widget elementor-widget-heading\" data-id=\"8e81dfb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Big Rig Lending<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f2746e0 elementor-widget elementor-widget-text-editor\" data-id=\"f2746e0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There are over half a million trucking companies in the United States, the trucking industry has grown exponentially in the last couple of years. If you have a trucking company, it goes without saying that you should familiarize yourself with big rig lending, and how it can work for you.<\/p><p>Big Rig lending typically consists of:<\/p><ul><li>The use of a truck that they\u2019re investing in as collateral for the loan.<\/li><li>A big rig is provided to a business for a specific objective or purpose, which is payable after a specified lending period.<\/li><li>The key objective for the lending is so the business can have access to the truck without the cost of buying it.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-50cc807 elementor-widget elementor-widget-text-editor\" data-id=\"50cc807\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The benefits of lending a big rig are:<\/p><ul><li aria-level=\"1\">You can trade in the initial model for an upgrade<\/li><li aria-level=\"1\">You don\u2019t have to worry about maintenance, if you find the right leasing partner, they can provide it for you. If you have bad credit, you may not be eligible for a commercial trucking loan<\/li><li aria-level=\"1\">Unlike a commercial trucking loan, you do not have to put down as large of a down payment<\/li><li aria-level=\"1\">You have options to expand on the services you provide to your current customers<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ca4810f elementor-widget elementor-widget-heading\" data-id=\"ca4810f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Finding the Right Finance Partner<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1566ff0 elementor-widget elementor-widget-text-editor\" data-id=\"1566ff0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Before settling for any option, it is of utmost importance to do research and ask relevant questions.<\/p><ul><li aria-level=\"1\">Which option better suits your business\u2019s needs?<\/li><li aria-level=\"1\">Will you be able to afford to repay the loan or lending installments?<\/li><li aria-level=\"1\">Can your business survive without it?<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b08a1e4 elementor-widget elementor-widget-text-editor\" data-id=\"b08a1e4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>If you have done your research and are looking to expand and just need extra liquidity to fulfill instant equipment payments then contact a company that has good reviews, history and connects your business to the financial lending institutions.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1ebd10cb elementor-widget elementor-widget-heading\" data-id=\"1ebd10cb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to Apply?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-433b34df elementor-widget elementor-widget-text-editor\" data-id=\"433b34df\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Applying for commercial truck loans is a simple 3-step process:<\/p><ol><li>Simply fill out a form to contact our consultants.<\/li><li>They will contact you to retrieve essential business information.<\/li><li>We connect you to suitable lenders with the lowest premiums and guide you through the process.<\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-587fb327 e-con-full e-flex e-con e-child\" data-id=\"587fb327\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-38436f14 e-con-full e-flex e-con e-child\" data-id=\"38436f14\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-38bea74d elementor-widget elementor-widget-global elementor-global-160 elementor-widget-html\" data-id=\"38bea74d\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"full-width-cta\">\n  <i class=\"fas fa-hand-holding-usd\"><\/i>\n  <h3>Ready to Grow Your Business?<\/h3>\n  <p>Take the first step towards securing the financing you need with Your Finance Partners.<\/p>\n  <a href=\"\/apply\" class=\"cta-button\" style=\"color:white !important;\">Apply Now<\/a>\n<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-754c0f6b elementor-widget elementor-widget-global elementor-global-163 elementor-widget-html\" data-id=\"754c0f6b\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"contact-info-cta\">\n  <i class=\"fas fa-phone\"><\/i>\n  <h3>Have Questions?<\/h3>\n  <p>Our team is here to help you with any inquiries.<\/p>\n  <p> <strong>1-702-468-9729<\/strong><\/p>\n  <p><strong>info@yourfinancepartners.com<\/strong> <\/p>\n<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2238cae0 elementor-align-justify e-transform elementor-widget elementor-widget-global elementor-global-47 elementor-widget-button\" data-id=\"2238cae0\" data-element_type=\"widget\" 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Now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Commercial Truck Loans If you are in any business that requires a commercial truck and are weighing the option to either own or loan your vehicle, thorough research is imperative to the success of your business. If not done right, it can prove to be costly without a significant capital investment. Finding the right finance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":114,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/pages\/224"}],"collection":[{"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/comments?post=224"}],"version-history":[{"count":0,"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/pages\/224\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/pages\/114"}],"wp:attachment":[{"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/media?parent=224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}