Commercial Truck Financing Guide
Financing a commercial vehicle is different from a conventional car loan, making it a challenging buying process for business owners. A commercial truck loan calculator can help, and so can our truck financing experts. Our Bayshore Ford finance team wants to ensure business owners are prepared to buy or lease a commercial truck - here's what you need to know.
What Is Commercial Truck Financing?
Businesses choose commercial truck financing when they find the right commercial truck for their business from our selection of new Ford work trucks.
Commercial truck financing is different from traditional vehicle financing. First of all, a traditional truck loan requires lenders to know your credit score, business revenue, and time and time in business.
Commercial vehicle loans can also be used to lease new or used trucks and to repair commercial trucks they already own. Commercial truck finance loans can also cover the following:
- Semi trucks
- Tow trucks
- Dump trucks
Commercial Truck Loans Available
There are various commercial loans available for business owners. Owner-operator and small businesses use commercial truck loans to finance commercial vehicles. Different types of loans include:
- Equipment Loan
- Small Business Administration (SBA) Loans
- Business Lines of Credit
- Working Capital Loans
- Merchant Cash Advance
- Business Term Loan
- Accounts Receivable Loans
- Revenue-Based Financing
Leasing a Commercial Truck
Leasing a commercial vehicle is the same as leasing a car. You own the car for a set length of time and return the vehicle to our Ford commercial dealership at the end of the lease term. This car financing option offers a lower monthly payment to buying a commercial truck.
Try the Bayshore Ford Commercial Truck Loan Calculator Today
Before you decide to pay us a visit, we recommend you go online to get pre-approved online financing before visiting. This will aid you in making a budget, and it'll make choosing a new commercial truck easier with the help of our truck payment calculator.
Do you want to know more about financing a commercial truck? Our Bayshore Ford finance experts will happily answer your questions. Plus, we can help you find the best Ford finance options to make your commercial truck buying experience easier.