{"id":230,"date":"2023-03-16T00:30:16","date_gmt":"2023-03-16T00:30:16","guid":{"rendered":"https:\/\/yourfinancepartners.com\/?page_id=230"},"modified":"2023-03-16T00:53:35","modified_gmt":"2023-03-16T00:53:35","slug":"big-rig-lending","status":"publish","type":"page","link":"https:\/\/yourfinancepartners.com\/loan-services\/commercial-truck-loans\/big-rig-lending\/","title":{"rendered":"Big Rig Lending"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"230\" class=\"elementor elementor-230\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-615d3609 e-flex e-con-boxed e-con e-parent\" data-id=\"615d3609\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-7cfec458 e-con-full e-flex e-con e-child\" data-id=\"7cfec458\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-615566f1 elementor-widget elementor-widget-image\" data-id=\"615566f1\" 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 - 25-04-2024 *\/\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\/jeremy-bishop-2sLLWHi-4Mw-unsplash-scaled-e1634832793657-1.jpg\" class=\"attachment-large size-large wp-image-232\" alt=\"\" srcset=\"https:\/\/yourfinancepartners.com\/wp-content\/uploads\/2023\/03\/jeremy-bishop-2sLLWHi-4Mw-unsplash-scaled-e1634832793657-1.jpg 800w, https:\/\/yourfinancepartners.com\/wp-content\/uploads\/2023\/03\/jeremy-bishop-2sLLWHi-4Mw-unsplash-scaled-e1634832793657-1-300x150.jpg 300w, https:\/\/yourfinancepartners.com\/wp-content\/uploads\/2023\/03\/jeremy-bishop-2sLLWHi-4Mw-unsplash-scaled-e1634832793657-1-768x384.jpg 768w\" 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-3fc9e629 e-con-full e-flex e-con e-child\" data-id=\"3fc9e629\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3194d4ec elementor-widget elementor-widget-heading\" data-id=\"3194d4ec\" 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 - 25-04-2024 *\/\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\">Big Rig Lending<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-580c5ad0 elementor-widget elementor-widget-text-editor\" data-id=\"580c5ad0\" 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 - 25-04-2024 *\/\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>A commercial trucking business involves transporting goods to different locations. You\u2019ll need big rigs to keep running the business and generate more revenue. The number of trucks required depends on your business\u2019s size and how many clients you intend to work with.<\/p><p>\u00a0If you are in the market for big rig lending, Your Finance Partners can help make the process quick and painless and choose the right finance options for your business. Your Finance Partners have the expertise to guide you through the process and help your business grow.\u00a0<\/p>\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-47ac21b e-flex e-con-boxed e-con e-parent\" data-id=\"47ac21b\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4cb73e45 e-con-full e-flex e-con e-child\" data-id=\"4cb73e45\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1d9c967d elementor-widget elementor-widget-heading\" data-id=\"1d9c967d\" 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 it Works<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-21685ac1 elementor-widget elementor-widget-text-editor\" data-id=\"21685ac1\" 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>Acquiring a commercial truck loan can help you expand your business or conserve cash flow. How it works is \u2014 a commercial lender can extend the loan to help you purchase big rigs, but the truck serves as your collateral. Should you run out of money to pay for your loan, the lender reserves the right to seize your vehicle.<\/p><p>Just like other commercial loans, you will need to meet all the requirements required by the lender. Having a good credit score can also significantly help you get approval. The higher your credit score, the more likely you are to get approved with lower interest rates.<\/p><p>Upon submission of the docs, the lender reviews your application, including the business\u2019 financial statements. They may also check the value of the truck, company, and ownership history, as well as your current income situation.<\/p><p>While it\u2019s ideal for applying to banks, they may not be the best option, especially for those who want to get quick approval. Banks take several weeks to approve commercial loans, but thankfully there are other options available for you.<\/p><p>So long as you meet the criteria, private lenders can extend commercial truck loans with quick approvals. Make sure you review all the documents needed and, if possible, consult with a professional to ensure that you get approved.<\/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-43f885a3 elementor-widget elementor-widget-heading\" data-id=\"43f885a3\" 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\">Tips for Faster Big Rig Lending Approval<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5a706b7d elementor-widget elementor-widget-text-editor\" data-id=\"5a706b7d\" 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>As soon as you decide what truck to purchase for your business, ensure that you have all the documentation needed for the application to increase your chances of getting approval.<\/p><p>Below are some tips to help you:<\/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-6147284a elementor-widget elementor-widget-text-editor\" data-id=\"6147284a\" 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><b>Find a Reputable Big Rig Lender<\/b><\/h3><p>Your Finance Partners will help you choose the big rig loan that is best for what you need. These professionals know the differences between different lenders. For example, when you go with banks, the processing of your commercial loan could take several weeks, whereas, with a private lender, it may only take as little as 48 hours. So long as you have all the documentation needed, you should get quick approval from a private lender.<\/p><h3><b>Work on Your Credit Score<\/b><\/h3><p>Remember that you\u2019re acquiring a commercial loan, and one of the requirements is to have good credit scores. As much as possible, check your credit scores beforehand, so you have enough time to settle any disputes or other issues with your credit scores. Look for ways to improve your credit score to increase your chances of getting approval from a lender.<\/p><p>Also \u2014 it\u2019s imperative to have a good credit score to help you get a lower interest rate for your big rig loan. Borrowers with not-so-good credit loans may still get approved (depending on the lender) but with higher interest rates since they are considered \u201chigh risk.\u201d<\/p><h3><b>Gather Relevant Information About Your Business<\/b><\/h3><p>You may need some financial information about your business and how long you have been in operation. Ideally, you should be operating for at least two years. Don\u2019t get discouraged if you\u2019re still a startup; while established businesses are likely to get approved, that doesn\u2019t mean that new businesses don\u2019t get approval for the loan. Do make sure you have the other documents with you upon application.<\/p><h3><b>Prepare a Downpayment<\/b><\/h3><p>Ensure that you have the required downpayment and maybe more. It wouldn\u2019t hurt to provide proof that you have working capital to cover the loan payment and repair in case of emergency.<\/p><p>Also, you may have to get truck insurance as that would assure the lender that in case there are accidents, they will get compensation for it.<\/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-59a68eb0 elementor-widget elementor-widget-heading\" data-id=\"59a68eb0\" 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\">Semi Truck Financing<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6be5b97f elementor-widget elementor-widget-text-editor\" data-id=\"6be5b97f\" 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 trucking industry has in recent years been seeing an increase in growth and truckers all over will have the potential to see a significant economic gain if they are able to own their own truck. In being an owner, they will be able to create equity without making payments that they will never see again. Instead, the payments go towards what they will end up owning after all the payments end. It is estimated that with semi truck financing, you will be able to pay off your loan in 5-7 years, however your rig will last much longer than that, at least 15 years. This means that eight to ten years worth of work will just go towards profit without having to make a payment again. After 15 years, you could still sell your rig for anywhere from 15 thousand to 100 thousand. It would be wise to then sell and upgrade. In the long run, owning something at the end of the payments is always worth it to have something that holds value, however every person\u2019s situation is unique and different. Here are some things to consider before buying.<\/p><p>Benefits to semi truck financing<\/p><ul><li aria-level=\"1\">Gaining equity<\/li><li aria-level=\"1\">Investing in something that holds value<\/li><li aria-level=\"1\">Will have an asset at the end of making payments<\/li><li aria-level=\"1\">If something does not go right, you can sell<\/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-af7a2aa elementor-widget elementor-widget-text-editor\" data-id=\"af7a2aa\" 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>Things to consider before financing a semi truck<\/p><ul><li aria-level=\"1\">Do you have enough money up front<\/li><li aria-level=\"1\">Do you have good enough credit for a great rate<\/li><li aria-level=\"1\">Is your trucking job stable\u00a0<\/li><li aria-level=\"1\">Do you plan to keep your trucking job for at least the amount of time it takes to pay of the loan<\/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-efb73e0 elementor-widget elementor-widget-text-editor\" data-id=\"efb73e0\" 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>Lending Vs Financing<\/h3><p>There are pros and cons to both financing and lending. It is important to understand the difference between the two, because depending on the situation you are in, one option will be better suited for you.<\/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-e860a3d elementor-widget elementor-widget-heading\" data-id=\"e860a3d\" 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\">Is Big Rig Lending Right For Me?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c9820cb elementor-widget elementor-widget-text-editor\" data-id=\"c9820cb\" 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 intend to grow your business with one or multiple big rigs, and are confident you have the resources to attract and retain clients, then we recommend that you consider getting a commercial truck loan to help with purchase costs. However, you do need to evaluate your business\u2019 financial situation first. Your Finance Partners can help you assess which loans would best grow your business through acquiring big rigs. Take the stress out of business finance, and contact Your Finance Partners today.<\/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-1e064b99 elementor-widget elementor-widget-heading\" data-id=\"1e064b99\" 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-6a10c07e elementor-widget elementor-widget-text-editor\" data-id=\"6a10c07e\" 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 a big rig loan 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-564c09e3 e-con-full e-flex e-con e-child\" data-id=\"564c09e3\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-78621072 e-con-full e-flex e-con e-child\" data-id=\"78621072\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1de76448 elementor-widget elementor-widget-global elementor-global-160 elementor-widget-html\" data-id=\"1de76448\" 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-f5aac4 elementor-widget elementor-widget-global elementor-global-163 elementor-widget-html\" data-id=\"f5aac4\" 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-6896d7e0 elementor-align-justify e-transform elementor-widget elementor-widget-global elementor-global-47 elementor-widget-button\" data-id=\"6896d7e0\" data-element_type=\"widget\" data-settings=\"{&quot;_transform_scale_effect_hover&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1.03,&quot;sizes&quot;:[]},&quot;_transform_scale_effect_hover_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_scale_effect_hover_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/yourfinancepartners.com\/apply\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply 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>Big Rig Lending A commercial trucking business involves transporting goods to different locations. You\u2019ll need big rigs to keep running the business and generate more revenue. The number of trucks required depends on your business\u2019s size and how many clients you intend to work with. \u00a0If you are in the market for big rig lending, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":224,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/pages\/230"}],"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=230"}],"version-history":[{"count":0,"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/pages\/230\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/pages\/224"}],"wp:attachment":[{"href":"https:\/\/yourfinancepartners.com\/wp-json\/wp\/v2\/media?parent=230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}