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Tow Truck

Saturday, April 24th, 2010

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Used Tow Truck Financing

Tow Truck Financing | Call us at 800-778-2073

Is your company looking for tow truck financing? At IFS Equipment Financing we have been offering financing and leasing on tow trucks for over 10 years.

There are several tow truck financing plans available. These are the most common tow truck financing programs available, and they all can be done with 12, 24, 36, 48 or 60 months depending on the age of the equipment:

1. Simple-Interest Loan: Most customers today, unfortunately, go to their local bank to obtain a simple interest loan for the tow truck financing they need. Normally, it is quick and easy to obtain this type of loan but the customer doesn't realize that they might be tying up funds or loans they may need in the future from that bank.

2. $1.oo-out Lease: One of the most common types of tow truck financing done today is called the $1.00-out lease. In this case, the customer intends to own the equipment at the end of the lease term and doesn't want to pay anything extra (residual) at the end of the lease. 3. 10 % or 20% Residual Lease: This is another highly common form of tow truck financing available to customers. The goal is to keep the equipment at the end of the lease term but to keep monthly payments at a minimum. At the end of the term the customer usually has the option to pay the 10% or 20% residual (buy-out), finance it, or give the equipment back.

4. FMV Lease: In this form of tow truck financing, the customer has no interest in keeping the equipment at the end of term and the main goals are to keep the monthly payments as low as possible and to write-off each payment as leased, or rented, equipment. If the customer does want to keep the equipment, this is the riskiest and most expensive option they can choose.

Whether you are purchasing a new or used tow truck from a dealer, a company, or from a private individual, we can help you with any of these types of tow truck financing. We work with most types of credit and equipment, so there's a good chance we can get something done for you. Call us with questions on leasing or to compare quotes on what you are already receiving. We look forward to helping you with any of your tow truck financing needs.

About the Author

Have been offering equipment financing to companies since 1986. Use my experience to get you approved for an equipment loan today.