In many cases, a trucking company operation simply cannot move forward without having the right equipment on hand to satisfy customer demand. Having the right equipment such as a fleet of trucks is an essential part of your business that you just can’t get around. There is no doubt that such equipment comes with a hefty price tag, but your small business shouldn’t be deterred by that fact. There are ways of obtaining equipment financing which will provide you with the modern equipment you need, and offer terms which you can afford on an ongoing basis.

Equipment Financing and Leasing

There are a great many alternative lenders who are willing to work with you to help you acquire the trucks you need for your fleet. They will also collaborate with you to ensure that you can afford monthly payments so that your business isn’t crippled under the weight of a heavy repayment burden. Equipment financing can take two different forms, one of which would be a loan so that you can purchase more trucks, and the other being a leasing arrangement where you could lease those vehicles.

There are pros and cons to each of these arrangements, and you’ll have to decide which setup works better for your trucking company. By purchasing the vehicles outright, you then become the owner and you’re responsible for all maintenance. You would also be stuck with those trucks as they age and experience more frequent maintenance and breakdowns.

By leasing the vehicles, you would leave ownership in the hands of the lessor, and would not be responsible for any kind of maintenance. At the end of the leasing period, you would then have the option of renewing the lease, purchasing the equipment, or walking away from the lease entirely. You’ll need to consider these two basic options, and then find an alternative lender who specializes in that particular financial arrangement.

Does Your Trucking Company Need Equipment Financing? 

When you have all the essential equipment you need for your trucking business, you’ll have a better chance of prospering. Contact us at Commercial Capital Finance to discuss terms for beneficial equipment financing.