Wholesale Used Dump Truck Specials For Sale, Quad, Tri, Tandem and Single Axles, Off Lease and Repos, Dealer Financing. Part 2

Wholesale Used Dump Truck Specials For Sale, Quad, Tri,Tandem and Single Axles, Off Lease and Repos, Dealer Financing.Part 2

There are many alternatives in

obtaining wholesale used off lease and repodump trucks, quad, tri, tandem and single axles, for sale with special dealerfina

ncing. Whether you are a start up or a seasoned business, the first logical place to investigate your financing is at your local bank. The seasoned businessmust have at least mid 600s in their credit scores and be prepared to go through alengthy paper process. Prior Year Tax Returns may be required, current personalfinancial statements needed and various other requests.The start up business must have a credit score properly 680 or higher and willhave a much smaller success rate in obtaining bank financing. The business startup is a high risk factor and must adhere to higher lending standards.Most banks offer loan and/or lease programs. The difference is that the loan program transfers title at the end of the payment obligation, whereas the leasingcomponent offers a rent type environment during the course of the lease with a buy out option at the end of the lease period to take title. Usually, the moniesrequired upfront to acquire a loan are higher and eliminates manycandidates. The Leasing arena requires anywhere from usually first and last payment to approximately 20% down depending on the type of industry financing is requested for.On the loan and lease programs for a dump truck applicant, the applicant mustinvestigate whether the bank and/or financial institution considers this a qualifiedasset which they will lend on. Most lenders like this type of asset but others mayspecialize in other industries such as medical and transportation such as limos,limo buses, ambulances etc. Some Lenders will only lend up to ten years basedupon the age of the truck where others may extend beyond this parameter. Loansand leases usually run anywhere between 36 -60 months based upon the age of the dump truck.

USCCLG

U.S. Corporate Capital Leasing Group Inc.

The front money to commence the lending vehicle, the monthly payments and the buyout clauses at the end of the lending instrument, if there is one, is paramountin making a prudent business decision. The amount of paperwork and hoops to jump through to get to end of the financing process are considered in thetotal evaluation process.As we discussed above, there can be a lengthy paperwork process to obtain your financing. Recently, some of the lenders have changed their computer qualification models and require application only programsThis means there are no income tax returns required, time consuming personalfinancial statements needed, and other key documents either prepared and /or requested. This program is usually geared for the seasoned business. Theseapplication lending programs run as high as $50,000.It is important for the dump truck applicant to check out all the lending programsavailable. The collateral is the dump truck and usually no additional collateral isrequired. The minimum credit score required for all dump truck applicants mayrun as low as 600 for conventional financing.

The last thing you should be aware of is dealer/financing inventoryprograms. What this means, the lender has repos and/ off lease inventoriesthat they want to move for cash flow purposes. This financing arrangementis geared to the start up as well as seasoned business and may offer the dumpapplicant an excellent buying and financing opportunity.

As of April 10, 2010 the economy is still in a contraction mode and lenders havetaken back dump trucks repossessions back by the droves. Lending in thefinancial markets has become very tight and the qualifications for prospectivecustomers extremely difficult. The repo dump truck market offers the startup andseasoned business an excellent opportunity. Cash buyers have the bestopportunity to acquire a dump truck at the lowest price….

W

hen you are shopping for dump truck financing, consider the following, thefront money, the monthly payments, what collateral is required, and what the buyout clauses mean. Also, make sure you have a good source of incomecoming from a contract and/or other methods.Happy hunting for your quad, tri, tandem, single axle dump truck and its relatedfinancing..

www.cclgequipmentleasing.com/dumptrucks.htm

BELOW IS A PARTIAL LIST OF SEVEN, SIX, QUAD, TRI AND SINGLE AXLE DUMPTRUCKS FOR SALE, CALL 800-760-6863 FOR DETAILS \

2003 PETERBILT SEVEN AXLE DUMP TRUCK …………$55,000/Dealer Price…Call

STOCK NUMBER C- 66442003 PeteCAT C 15Eaton fuller 18 speed18 foot Aluminum bed18,000 front axle(4) pusher axle at 11,00044,000 rear axle429,930 miles Location.........Missouri