“Rock Truck Lease Financing For New And Used Rock Trucks”
New rock truck leasing and financing typically is provided by the manufacturers that produce these types of units.
The manufacturer’s also tend to have a strong dealer net work so in the event of a borrower or lessor default, they have the ability to easily market the assets held for security for resale in order to repay the amount owing.
While that may not be incredibly important to someone looking for financing, having the ability to liquidate used equipment provides lenders or financing company with a stronger basis to work from when considering applications for credit.
Outside of manufacturers, there a significant number of lenders that would also consider transportation equipment leasing for rock trucks for many of the same reasons.
However, due to the high ticket price of most rock truck units, the are going to be less interested financing parties compared to items that carry smaller capital amounts.
Used Rock Truck Leasing With Largely Depend On The Remaining Useful Life Of The Asset
Because most new rock trucks get financed through manufacturer direct or sponsored financing or leasing programs, the majority of financing requests we see for this type of asset is for used rock truck purchases or acquisitions, or refinancing actions.
The good news here is that there are a few of our financing sources that are prepared to finance used rock trucks, even ones that are fifteen years old or slightly older.
Because of the long term potential use and durability of the asset, providing financing on a used rock truck is still considered a good financing invest by those financing companies that lend on heavy equipment.
The key to getting a used rock truck financed through a loan or lease is to have all the truck specification information readily available to the lender as well as a detailed service log that identifies when major repairs were made to the motor and transmission.
The remaining useful life of a rock truck is going to be a combination of age, operating hours, and condition. As long as the asset has been well maintained, older units can still get financed.
And financing can include both acquisition as well as the refinancing of existing equipment that you already own and want to leverage to inject cash back into the business.
If you require rock truck lease financing, I suggest that you give us a call so we can quickly assess your requirements and provide equipment leasing options for your immediate consideration
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