When applying for tow truck financing, your commercial lender will undoubtedly ask you a whole slew of questions? what?s your name, address, birthday, social security number, what kind of business do you have, etc. They may even ask you how you are doing, if you have kids, and where you grew up. What the commercial lending company should NOT ask you, however, is to pay an administrative or service fee BEFORE you have received an approval. ?Obtaining an approval from a commercial truck financing company should be free. If you have contacted a commercial financing company with the hopes of completing a tow truck financing application and obtaining tow truck financing and the financing company asks that you first pay an administrative or service fee? RUN! Do NOT work with that company. There are many disreputable companies that will take advantage of applicants and as a client you don?t want that to happen to you! Before going any further with that particular commercial financing company you should check the Better Business Bureau and see if anyone has ever filed a complaint against them. If not, don?t be shy to be the first! It is an industry standard that commercial truck financing companies WILL charge an administrative or service fee, but this is to be paid after an approval on your tow truck financing application has been issued, and most often it is paid when the tow truck financing documents are signed and returned to the commercial truck financing company. ?Remember, although your commercial truck financing company will ask you a lot of questions before approving your tow truck financing application, a reputable commercial truck financing company will not ask for you to pay a fee before you have received a service from them. When you apply for tow truck financing you will be asked for your banking information and require that you submit the last three months of your bank statements for verification. They will ask how long your company has been in business and require some sort of proof of that time, possibly tax returns for the last two years. They will ask for the nature of your business and whether or not you are a home owner. The finance company will ask for an invoice from the seller of your new tow truck. Your application will be processed, your credit ran, and your financial situation will be assessed. Sometimes, your representative will come back to you with even more questions or requests for more documentation before the assessment can be completed.? If you are found to be eligible for financing, an approval will be issued to you that will explain the terms and conditions of your financing and the structure of your tow truck financing. As you can see, there are many questions that will be asked of you when applying for tow truck financing, but one thing that should never be asked of you is to pay in advance for a service provided by your lender.
If you should have any questions, please call 877-233-1475 or email sales@trucklendersusa.com
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By , on December 5, 2012 at 4:40 am, under commerical truck finance. Tags: box truck financing, commercial leasing, commercial trailer finance, commercial trailer financing, commercial trailer leasing, commercial truck finance, commercial truck finance companies, commercial truck financing, specialty truck financing, tow truck financing. No Comments or leave a trackback: Trackback URL.rockies ashley judd second degree murders bobby petrino brian dunn vin scully petrino fired
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