• EFA & Leases up to $500K

  • Terms can range from 6-60 months

  • Additional Collateral is NOT required

  • Most transactions fund within 3 business days

  • Other fees such as; taxes, warranty, etc may be financed

 

  • App only submissions up to $100K

  • 0% - 25% Down payments are required

  • Approvals are valid for up to 10 business days

  • Fleet financing is available to those who qualify

  • A valid CDL is required and proof of hauling may be requested

IMPORTANT DISCLOSURE:

All approvals are subject to additional conditions you must provide or meet to the satisfaction of the Underwriter. You agree to provide the information we request in "good faith" and all information given to us are done honestly; without a deliberate intention to defraud the other party. The conditional approval will stand unless you fail to meet the stipulations the lender lays out. Our credit department will not be able to appropriately process your file if you fail to meet any of the conditions set forth. You may also face a denial if the lender is unable to verify any further data you've provided such as; employment, financials or do not meet their credit criteria. If you take too long to provide the documentation or other information requested, any changes in your income or credit history that have occurred in the meantime will be taken into account.

 

 

GOOD/FAIR CREDIT PROGRAM: 

Guarantors must have a minimum of 7 trade lines on their CBR with the oldest accounts reporting 3 years of payment history.

Guarantors with a substantial outstanding tax lien obligations, foreclosure proceedings, short sales, any reported open child / family support accounts, student loan defaults or guarantors that have accounts managed by a credit / debt management counseling service will not be considered

Guarantors with completed loan modifications and 12 months of subsequent, timely payments will not be considered. Miami, CO, CT, IA,, ND, NJ, NY, RI, SD, WV, WY are Restricted for this program.  Trucks with overhauled engines are restricted. Class 1-2 Vehicles (100K Mile Max) >>  Class 1 - 5  Vehicles  (15 Yr. Age Max)  >> Class 6 - 8  Vehicles  (10 Yr. Age Max) >> Class 3 - 5 Vehicles ( 250K Mile Max) >> Class 6 - 8  Vehicles (750K Mile Max) Reefers 6 Yr. Age Max, unless it has been retrofit. Trucks year 2010-2013 Navistar w/MaxxForce 13 Engines WILL NOT BE ACCEPTED due to their continuous mechanical issues. Older Trucks with higher mileage can be accepted, we would first need to get an approval on it before proceeding

 

 

CO-SIGNORS & HOW BANKRUPTCIES ARE VIEWED:

Many times the credit strength of an applicant can be enhanced with a spousal, parental or blood relative guaranty. We evaluate this potential additional guarantor on a case-by-case basis. Discharged bankruptcy over two years will be considered in instances when any guarantor has a firmly re-established credit history demonstrating depth and timeliness of payments. For applicants with less than 2 years since the bankruptcy.

 

 

BAD CREDIT PROGRAM: 
This program is for first-time buyers and borrowers with troubled credit with past bankruptcies (Derogatory credit history, & Foreclosures) there is no minimum FICO required. However, child support collections, repos/car charge-offs, current/dismissed bankruptcy and open tax liens over $10K will not be considered. You must have a valid CDL or a driver with a valid CDL will need to be added as an additional guarantor. Down payments are paid to the dealership in certified funds (cashier's check or wire transfer) and the remaining balance owed, will be wired into the seller's business account. A GPS device will be installed by a third party company prior to funding. Minimum 25% down payment (trade-in OK) 2008 or newer class 6 trucks (200,000 miles or less) 2008 or newer class 8 tractors (750,000 miles or less).

 

LEASE BUYOUT FINANCING SOLUTIONS 

Light - heavy commercial vehicle 

lease buyout solutions.

BREAKING A LEASE BUYOUT AGREEMENT

Certain conditions from a lease buyout contract may restrict you from hauling or working with whom you desire. The agreement may also require you to pay additional company fees in which can take away from your net profit. This may not be the case for everyone, perhaps you only need to finance the balloon payment owed in order to purchase the equipment.

  • Box Truck

  • Cargo Van

  • Bucket Truck

  • Daycab Truck

  • Dump Truck

  • Flatbed Truck

  • Garbage Truck

  • Cabover - Sleeper

 

  • Car Hauler

  • Cargo Trailer

  • Dump Trailer

  • Utility Trailer

  • Enclosed Trailer

  • Equipment Trailer

  • Gooseneck Trailer

  • Landscape Trailer

 

  • Tow Truck

  • Blow Truck

  • Grain Truck

  • Stake Truck

  • Reefer Truck

  • Moving Truck

  • Vacuum Truck

  • Sweeper Truck, etc..

 

GETTING APPROVED

We collaborate with an extended network of lending resources, that offer diverse financing options from; working capital loans, refinancing, debt consolidation, equipment financing & leasing. Business start-ups and borrowers with limited/poor credit may qualify for other financing programs, specifical design for their particular financing needs.

  • 90% approval rates with no multiple inquiries on your credit

  • You may choose the vehicle/trailer sold by any seller of choice

  • Business start-ups can apply (application only) for up to $50,000 

  • Established businesses can apply (application only) for up to $150,000

  • Terms can range anywhere from 12 - 60 months with no prepayment penalties

  • Down payments can range from $0 due at signing to 25% down of the total cost

  • Equipment year & mileage requirements vary (depending on) the financing program

  • Other expenses may be financed such as sales tax, warranties, transporting fees, etc

  • Most transactions are funded within 2 business days from receiving the completed docs

  • Transactions may be structured into loans, EFA, TRAC leases, FMV leases and $1 buyouts

APPLICATION PROCESS

complete a credit application online or 

you may download an application here

and return it to credit@truckerspost.com

 

PAYMENT OPTIONS

within 24 hours  of completing a credit

application an experienced finance

specialist will email you payment options

 

FUNDING PROCESS

if approved & the terms are agreeable, the

deal will be funded once the documentation

package has been completed & returned

 

A lease buyout (lease purchase) is a contractual agreement between the carrier or driver (yourself) and a transporting company. These programs are designed to give an equal opportunity for carriers and drivers to get into the equipment needed to start or expand their business without any credit checks. However, stipulations must be met as part of the agreement.

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