What is Bad Credit Trust Loan?

By  //  March 9, 2023

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Individuals with a commercial driver’s license (CDL) can make a living by trucking while also working for their own businesses.

Existing businesses may need to purchase a fleet to expand their operations. However, trucks can be very costly.

A new truck can cost around $80,000. It is, therefore, not affordable for all businesses. They turn to a financial advisor who is familiar with the industry. If they don’t know where or how to search, those with poor credit histories may not be eligible for funding.

National Truck Loans believes that past financial problems should not prevent you from getting financing for truck loans or truck leasing. Leasing trucks and getting truck loans can help you build a business. We are committed to finding the best truck financing deals for all our clients, regardless of their financial situation.

Leasing a truck

If you approach them correctly, commercial truck loans and leases don’t have to be difficult. Loan centers that are specialized in non-conventional financing can provide truck leases and truck loans for bad credit. Non-conventional financing is when They go beyond traditional financial institutions and lenders to find every financing option. The National Truck Loans will not consider your credit history, past repossessions, slow payments, bankruptcy filings, or other factors that could influence your decision to get a loan or lease. These loan centers do not even require financial records or tax returns. Whatever your circumstances, They will do everything they can to help. They will pursue any lead that They can and use all the tools They have to help you obtain a truck lease or loan.

Who is eligible for truck loans with bad credit?

  • Start-ups
  • Owner-operators
  • Existing hauling businesses
  • Private party and dealer sales

What equipment is available to be loaned?

  • Heavy duty tractors and trailers
  • Tow trucks
  • Trucks of all sizes and types

Qualifications for a truck loan for people with bad credit

The first step in getting a loan to finance a commercial truck is to identify the type of truck you are looking to finance. There are two types: Transport vehicles, or trailers, as well as vocational trucks like dump trucks and cement trucks. Depending on the type of truck you have and its intended use, it all depends. This will determine the financing option (truck loan or lease) that you choose.

Each truck type has a slightly different process. Before granting you a loan, the loan center will also consider what your vehicle is used for and its age before approving you for a bad credit loan.

Are you a new company?

A credit score is not good.

Are you an owner-operator?

Purchase from a private entity

Purchase an old truck

Low cash reserves

You can find a loan center that will help you find the loan that is best for you, regardless of whether you are self-employed, have poor credit, had defaults, have your assets repossessed, or have poor documentation.

Solutions that fit your needs

Rapid approval and application

Leasing for new and used trucks

Solutions for second chance loans

While some loan centers will offer you a loan with very strict terms, you can get solution-based financing that allows your trucking company to grow or start.

Can I lease a truck if I have bad credit?

If you go to a lender who specializes in helping those with low credit scores, you can find the best solution for truck loans with bad credit with National Truck Loans. They understand that having bad credit can hinder your ability to grow your business. They feel it unfair that financial history should not be a barrier to business owners moving up and forward. They work closely with you to find lease options that can get you hauling as quickly as possible then if you are looking for loans for truckers with bad credit, contact them.