Truck|truck-infosource.com
Jun
21
Filed Under (Tools And Equipment) by truck
Peter Gitundu asked:
If you are into the business of plowing snow it is important to know the right kind of materials that your plow truck will need. Plow trucks are usually found in city streets especially after a heavy session of snow. What is important to note that the plow truck is just an ordinary truck with a plow attached to it!
The decision to what kind of snow plow your truck should have is yours; however you must choose the right kind of plowing materials wisely because it would mean you coming back to buy new materials every time or just a one time buy.
When buying the snow plowing materials it’s always wise to look for sturdy materials such as the kind that Meyer’s offers or boss plow does. The blade of the plow must be strong and the coating on it must be the kind that does not get corrosion or need repainting or shining all the time. The plow must be able to withstand the impact of hitting a boulder or a tough, hard surface without shattering or breaking. Make sure your machinery is easily maneuverable and can be operated without any fuss. Another added bonus would be if it is able to cut through ice without any problems.
Plow trucks are many especially during the winter season, so if you have to be ahead in the game it is best that you do good work and the only way you can do that is if you put the right stuff on your plowing truck that will do the job right and have the city calling you back for more plowing jobs.
NOEL
If you are into the business of plowing snow it is important to know the right kind of materials that your plow truck will need. Plow trucks are usually found in city streets especially after a heavy session of snow. What is important to note that the plow truck is just an ordinary truck with a plow attached to it!
The decision to what kind of snow plow your truck should have is yours; however you must choose the right kind of plowing materials wisely because it would mean you coming back to buy new materials every time or just a one time buy.
When buying the snow plowing materials it’s always wise to look for sturdy materials such as the kind that Meyer’s offers or boss plow does. The blade of the plow must be strong and the coating on it must be the kind that does not get corrosion or need repainting or shining all the time. The plow must be able to withstand the impact of hitting a boulder or a tough, hard surface without shattering or breaking. Make sure your machinery is easily maneuverable and can be operated without any fuss. Another added bonus would be if it is able to cut through ice without any problems.
Plow trucks are many especially during the winter season, so if you have to be ahead in the game it is best that you do good work and the only way you can do that is if you put the right stuff on your plowing truck that will do the job right and have the city calling you back for more plowing jobs.
NOEL
Jun
19
Filed Under (Maintenance & Repairs) by truck
Heather B asked:
I woke up this morning looked outside and my truck and trailer had been spray painted overnight! I was able to scratch some of it off my hood with my fingernails but you could still see the outline, and I wasn’t that lucky with the sides of my truck or the license plate. As for my trailer I wasn’t able to get any of it off. I have an 04 Jeep, does anybody have any ideas of getting it off without ruining the paint?
AL
I woke up this morning looked outside and my truck and trailer had been spray painted overnight! I was able to scratch some of it off my hood with my fingernails but you could still see the outline, and I wasn’t that lucky with the sides of my truck or the license plate. As for my trailer I wasn’t able to get any of it off. I have an 04 Jeep, does anybody have any ideas of getting it off without ruining the paint?
AL
Jun
19
Filed Under (Loans) by truck
Rick Reed asked:
There are many alternatives in obtaining dump truck financing. Whether you are a start up or a seasoned business, the first logical place to investigate your financing is at your local bank. This may be pleasurable experience if you have many contacts at your bank but most people usually don’t have these types of connections. The seasoned business must have at least mid 600s on their personal credit scores and be prepared to go through a lengthly paper process. Prior year income tax returns may be required, current personal financial statments needed and various other requests. The start up business must have a credit score properly 680 or higher and will have a much smaller success rate in obtaining bank financing. The business start up is a high risk factor and must adhere to higher lending standards.
Most banks and financial institutions offer loan and/or lease programs. The difference is that the loan programs transfers title at the end of the payment obligation, whereas the leasing component 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 monies required upfront to acquire a loan are higher and eliminates many candidates. The Leasing arena requires anywhere from usually first and last payment to approximately 20% down of the dump truck cost.
On the loan and lease programs for a dump truck applicant, the applicant must investigate whether the bank and/or financial institution considers this a qualified asset which they will lend on. Most lenders like this type of asset but others may specialize in other industries such as medical and transportation such as limos, limo buses, ambulances etc. Some Lenders will only lend up to ten years based upon the age of the truck where others may extend beyond this parameter. Loans and leases usually run anywhere between 36 -60 months based upon the age of the dump truck. Another factor to consider in the financing area, many dump trucks are what they call conversions. The chasis of the dump truck and./or the road truck may be given a new dump box. Obviously this dump box is new but the chasis could be as old as ten years old. Lenders are particular in this area and may not accept a converted dump truck. Obviously, please check with your lender to ascertain their lending guidelines.
The dump truck applicant is seeking a relationship with the lender no matter whether it is a start up or seasoned business. 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 paramount in 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 the total evaluation process.
As we discussed above, there can be a lengthly paperwork process to obtain your financing. Recently, some of the lenders have changed their computer qualification models and accept application only programs. This means there are no income tax returns required, time consuming personal fianancial statments needed, and other key documents either prepared and /or requested. This program is usually geared for the seasoned business but there are start ups applications programs available as well. These application lending programs usually run from $20,000 to $250,000. It is important for the dump truck applicant to check out all the lending programs available. The collateral of the financing is the dump truck and usually no additonal collateral is required. The minimum credit score required for all dump truck applicants may start as low as 575.
The last thing you should be aware of is dealer/financing inventory programs. What this means, the lender has repos and/of a off lease inventories that they want to move for cash flow purposes. This financing arrangement is geared to the start up as well as seasoned business and may offer the dump applicant an execellent buying and financing opportunity.
When you are shopping for dump truck financing, consider the following, the front money, the monthly payments, what collateral is required, and what the buyout clauses mean. Also, make sure you have a good source of income coming from a contract and/or other methods. Remember, whatever lending program you select, there is more than likely a personal guranatee required.
Happy hunting for your dump truck and its related financing…..
QUINTIN
There are many alternatives in obtaining dump truck financing. Whether you are a start up or a seasoned business, the first logical place to investigate your financing is at your local bank. This may be pleasurable experience if you have many contacts at your bank but most people usually don’t have these types of connections. The seasoned business must have at least mid 600s on their personal credit scores and be prepared to go through a lengthly paper process. Prior year income tax returns may be required, current personal financial statments needed and various other requests. The start up business must have a credit score properly 680 or higher and will have a much smaller success rate in obtaining bank financing. The business start up is a high risk factor and must adhere to higher lending standards.
Most banks and financial institutions offer loan and/or lease programs. The difference is that the loan programs transfers title at the end of the payment obligation, whereas the leasing component 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 monies required upfront to acquire a loan are higher and eliminates many candidates. The Leasing arena requires anywhere from usually first and last payment to approximately 20% down of the dump truck cost.
On the loan and lease programs for a dump truck applicant, the applicant must investigate whether the bank and/or financial institution considers this a qualified asset which they will lend on. Most lenders like this type of asset but others may specialize in other industries such as medical and transportation such as limos, limo buses, ambulances etc. Some Lenders will only lend up to ten years based upon the age of the truck where others may extend beyond this parameter. Loans and leases usually run anywhere between 36 -60 months based upon the age of the dump truck. Another factor to consider in the financing area, many dump trucks are what they call conversions. The chasis of the dump truck and./or the road truck may be given a new dump box. Obviously this dump box is new but the chasis could be as old as ten years old. Lenders are particular in this area and may not accept a converted dump truck. Obviously, please check with your lender to ascertain their lending guidelines.
The dump truck applicant is seeking a relationship with the lender no matter whether it is a start up or seasoned business. 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 paramount in 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 the total evaluation process.
As we discussed above, there can be a lengthly paperwork process to obtain your financing. Recently, some of the lenders have changed their computer qualification models and accept application only programs. This means there are no income tax returns required, time consuming personal fianancial statments needed, and other key documents either prepared and /or requested. This program is usually geared for the seasoned business but there are start ups applications programs available as well. These application lending programs usually run from $20,000 to $250,000. It is important for the dump truck applicant to check out all the lending programs available. The collateral of the financing is the dump truck and usually no additonal collateral is required. The minimum credit score required for all dump truck applicants may start as low as 575.
The last thing you should be aware of is dealer/financing inventory programs. What this means, the lender has repos and/of a off lease inventories that they want to move for cash flow purposes. This financing arrangement is geared to the start up as well as seasoned business and may offer the dump applicant an execellent buying and financing opportunity.
When you are shopping for dump truck financing, consider the following, the front money, the monthly payments, what collateral is required, and what the buyout clauses mean. Also, make sure you have a good source of income coming from a contract and/or other methods. Remember, whatever lending program you select, there is more than likely a personal guranatee required.
Happy hunting for your dump truck and its related financing…..
QUINTIN
Jun
17
dale j asked:
Im a truck driver (cdla) by trade. I drive locally in the Cape Cod and south shore area of Massachusetts. My dream is to work as a truck driver in Europe. Does anybody know how I can find a truck driving job in Europe?
ELISEO
Im a truck driver (cdla) by trade. I drive locally in the Cape Cod and south shore area of Massachusetts. My dream is to work as a truck driver in Europe. Does anybody know how I can find a truck driving job in Europe?
ELISEO
Jun
05
Filed Under (Maintenance & Repairs) by truck
jbird21 asked:
I see diesel trucks often the shoot black smoke out of there pipes or stacks. I was wondering how they get their trucks to do that. I do know that they can somewhat do it when they want. Dont know much about trucks. So….How do i get my diesel truck to shoot black smoke out of my stacks?
DUDLEY
I see diesel trucks often the shoot black smoke out of there pipes or stacks. I was wondering how they get their trucks to do that. I do know that they can somewhat do it when they want. Dont know much about trucks. So….How do i get my diesel truck to shoot black smoke out of my stacks?
DUDLEY
May
29
Filed Under (Loans) by truck
theloandude asked:
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.
MOHAMED
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.
MOHAMED
May
22
Filed Under (Insurance) by truck
MatthewPawlina asked:
Truck insurance protects the owner and vehicle from harm. Owners who purchase their own truck insurance get the most competitive rates but there are many ways to reduce premiums even further by reading articles and tips given on the internet written by insurance specialists.
Factors that do affect truck insurance premiums are: driving records, age of driver, age of equipment, commodities hauled, location of activities and areas of operation, losses incurred in running and so on.
Here are a few things to keep in mind:
1. Keep safety in mind at all times and ensure that the truck, its mechanics, and tires are kept in prime condition. A well maintained truck means lowered insurance premiums.
2. Find out what the Department of Transportation inspection entails and make sure the truck will pass the inspection with flying colors.
3. Keep a blemish free driving record. Your driving record will affect the insurance premiums. Insurance companies will consider how many years you have driven trucks and what trainings you have chosen to undergo.
4. Take a comprehensive insurance ask about cargo insurance.
5. Insurance companies will ask about previous truck insurance policies and the reasons for discontinuing. Keep records carefully and give honest answers to questions.
6. Make a financial plan and pay the maximum possible deductible. The greater the deductible the lower the premium payable.
7. Adopt all recommended safety features like warning stickers.
8. Undergo recommended safety programs and trainings. This will reduce truck insurance premiums greatly.
9. Buy truck insurance from a leading company. Look for online offers and discounts. Very often insurance bought online is more cost effective than policies bought through agents.
10. Do a comparison by using online quote tools and getting a quote from three different companies.
11. Find out whether the company that covers your home and health sells insurance for trucks. Often companies offer better rates to people who buy multiple coverage from them.
Truck insurance is sold by leading insurance companies as well as smaller players. Always check the credentials and financial standing of the insurance company. Points to consider are: the number of years experience in the trucking business; financial standing; coverage offered; the company’s standing with the Better Business Bureau; coverage offered.
Buy a truck insurance that costs the lowest but also consider the terms, conditions, and extent of coverage. Don’t choose low premiums by compromising on coverage. Always check the A.M. Best company rating this will tell you about financial strength and claim settling ability.
Ensure that the truck insurance covers: primary liability coverage; physical damage coverage; and cargo coverage. In addition do consider: accident insurance, general liability; and garage liability.
In order to be a successful trucker you will need to protect your truck by taking comprehensive insurance and make sure that the premiums are always paid on time.
WALTON
Truck insurance protects the owner and vehicle from harm. Owners who purchase their own truck insurance get the most competitive rates but there are many ways to reduce premiums even further by reading articles and tips given on the internet written by insurance specialists.
Factors that do affect truck insurance premiums are: driving records, age of driver, age of equipment, commodities hauled, location of activities and areas of operation, losses incurred in running and so on.
Here are a few things to keep in mind:
1. Keep safety in mind at all times and ensure that the truck, its mechanics, and tires are kept in prime condition. A well maintained truck means lowered insurance premiums.
2. Find out what the Department of Transportation inspection entails and make sure the truck will pass the inspection with flying colors.
3. Keep a blemish free driving record. Your driving record will affect the insurance premiums. Insurance companies will consider how many years you have driven trucks and what trainings you have chosen to undergo.
4. Take a comprehensive insurance ask about cargo insurance.
5. Insurance companies will ask about previous truck insurance policies and the reasons for discontinuing. Keep records carefully and give honest answers to questions.
6. Make a financial plan and pay the maximum possible deductible. The greater the deductible the lower the premium payable.
7. Adopt all recommended safety features like warning stickers.
8. Undergo recommended safety programs and trainings. This will reduce truck insurance premiums greatly.
9. Buy truck insurance from a leading company. Look for online offers and discounts. Very often insurance bought online is more cost effective than policies bought through agents.
10. Do a comparison by using online quote tools and getting a quote from three different companies.
11. Find out whether the company that covers your home and health sells insurance for trucks. Often companies offer better rates to people who buy multiple coverage from them.
Truck insurance is sold by leading insurance companies as well as smaller players. Always check the credentials and financial standing of the insurance company. Points to consider are: the number of years experience in the trucking business; financial standing; coverage offered; the company’s standing with the Better Business Bureau; coverage offered.
Buy a truck insurance that costs the lowest but also consider the terms, conditions, and extent of coverage. Don’t choose low premiums by compromising on coverage. Always check the A.M. Best company rating this will tell you about financial strength and claim settling ability.
Ensure that the truck insurance covers: primary liability coverage; physical damage coverage; and cargo coverage. In addition do consider: accident insurance, general liability; and garage liability.
In order to be a successful trucker you will need to protect your truck by taking comprehensive insurance and make sure that the premiums are always paid on time.
WALTON
May
10
Filed Under (Loans) by truck
Chris Fletcher asked:
Dump trucks are one of the largest road vehicles and are obviously needed to carry dirt, debris etc from one place to another. They are essential for sanitation companies, landscape companies, construction businesses and so on. Since the dump trucks offer multiple functions, they are pricey. Hence, dump truck financing is often called for.
There are various types of dump trucks. Articulated dump trucks help in transporting stones, gravel and other building material from one location to another. They can carry loads and dump them in any place required. The articulated dump truck has some special features like strong design and ability to work on all terrains. Due to the specialized nature, they cost high and articulated dump truck financing is the best option to acquire them.
Off road dump truck is yet another type which is important in mining work. It can carry heavy loads like rocks and dump them wherever they are needed. They are rugged and strong and their tires are larger than a person. They are indispensable for pulling and dumping heavy dirt and rocks. They are extremely expensive and so the companies look for dump truck financing to get them.
Super dump truck helps in carrying heavy loads to the maximum of 32 tons. This truck has longer distance between its rear and front axles in order to spread out the total weight. It is bigger in size and is useful in various operations. However it is quite pricey and dump truck financing is one of the best options to avail it.
Mining truck is another type of dump truck which is highly useful in mining industry. It can haul heavy loads and dump them wherever required. It is strong and rugged and the size of its tire is bigger than that of a human being. Since it has strong design that carries any heavy loads, the cost of mining truck is more. Hence many businesses often find dump truck financing profitable.
Side dump truck performs the same function of carrying loose material and dumping them anywhere required. However it can dump the loads at the right or left side. It is highly useful in transporting sands, gravel and other heavy dirt materials. It has a strong design and helps in saving time in the process of unloading. Its high cost requires dump truck financing from any of the reliable financing companies.
Transfer dump trucks are useful in transferring loads. They have certain advanced features of maneuverability and extra payloads. Due to their specialized nature, they are extremely expensive. Hence many companies prefer dump truck financing to acquire them.
Since dump trucks do not play a direct role in generating revenues, many companies consider seeking the help of financing companies to acquire them. The reliable financing companies have experience in truck financing and so they can understand the need of dump trucks by companies. Hence they provide financial assistance without any tedious procedures. A simple application form is enough to get approval for the required amount. Normally the financing companies directly finance the vendor specified by the companies. The companies can then repay the amount in easy monthly installments.
WYATT
Dump trucks are one of the largest road vehicles and are obviously needed to carry dirt, debris etc from one place to another. They are essential for sanitation companies, landscape companies, construction businesses and so on. Since the dump trucks offer multiple functions, they are pricey. Hence, dump truck financing is often called for.
There are various types of dump trucks. Articulated dump trucks help in transporting stones, gravel and other building material from one location to another. They can carry loads and dump them in any place required. The articulated dump truck has some special features like strong design and ability to work on all terrains. Due to the specialized nature, they cost high and articulated dump truck financing is the best option to acquire them.
Off road dump truck is yet another type which is important in mining work. It can carry heavy loads like rocks and dump them wherever they are needed. They are rugged and strong and their tires are larger than a person. They are indispensable for pulling and dumping heavy dirt and rocks. They are extremely expensive and so the companies look for dump truck financing to get them.
Super dump truck helps in carrying heavy loads to the maximum of 32 tons. This truck has longer distance between its rear and front axles in order to spread out the total weight. It is bigger in size and is useful in various operations. However it is quite pricey and dump truck financing is one of the best options to avail it.
Mining truck is another type of dump truck which is highly useful in mining industry. It can haul heavy loads and dump them wherever required. It is strong and rugged and the size of its tire is bigger than that of a human being. Since it has strong design that carries any heavy loads, the cost of mining truck is more. Hence many businesses often find dump truck financing profitable.
Side dump truck performs the same function of carrying loose material and dumping them anywhere required. However it can dump the loads at the right or left side. It is highly useful in transporting sands, gravel and other heavy dirt materials. It has a strong design and helps in saving time in the process of unloading. Its high cost requires dump truck financing from any of the reliable financing companies.
Transfer dump trucks are useful in transferring loads. They have certain advanced features of maneuverability and extra payloads. Due to their specialized nature, they are extremely expensive. Hence many companies prefer dump truck financing to acquire them.
Since dump trucks do not play a direct role in generating revenues, many companies consider seeking the help of financing companies to acquire them. The reliable financing companies have experience in truck financing and so they can understand the need of dump trucks by companies. Hence they provide financial assistance without any tedious procedures. A simple application form is enough to get approval for the required amount. Normally the financing companies directly finance the vendor specified by the companies. The companies can then repay the amount in easy monthly installments.
WYATT
Apr
21
Filed Under (Finance) by truck
Kris Koonar asked:
Truck factoring is a business that has caught on and is also one that is very beneficial to all truck owners. It is different from a bank in terms of rate of interest and disbursement time. Believe it or not, but most of the freight factoring companies do disburse 90% of the amount within 24 hours to 48 hours only. This is really great for the truck owners, who normally face a crunch for money. And that is usually due to the credit line with their customers or clients. Normally, it is advisable to check with known people or colleagues about any freight factoring company before signing up. This is important for the safety of your business.
Please cross check and confirm all that you need to know about a particular vendor in advance. Not everyone can be trusted, even though there are plenty of genuine factoring companies out there who have very good customer care back up. This is necessary as they are the ones that collect payments from your customer and your customer is ‘Boss’. You wouldn’t want your relations with your customers or clients to be strained, right? It is the factoring company that gives you business and keeps your trucks on the road. Hence, you need to be rest assured that it remains that way. You cannot have a demanding or rude factoring agent. So do ask around and get as much essential information as you can.
If they do have provision for a short term contract, then go for it. Just in case you are not satisfied, you can always discontinue your contract and look elsewhere. But long term agreements tie you down and keep you in an arrangement that is detrimental to the success of your trucking business. And nobody wants that to happen. Your business is your baby and you wouldn’t want some joker ruining everything for her, right!
So choose one that is good for your business and also has a positive impact on the growth aspect. And having a great vendor is better than going to the bank as the amount of cash you receive is against your invoices (sale of assets) and hence it is not a loan. It is your own money, just being given to you earlier. This money in turn helps you to pay for fuel, salaries, and other expenses that may crop up. It is a perfect ‘arrangement’ if only the vendor is the right one.
Most contracts last a year, after which they are renewable unless you would like to give sufficient notice and discontinue the same. Most truck factoring companies do not enlist small trucking companies and hence, it is a little more difficult to find a company if you have a small business. But don’t lose heart there are quite a few companies that do extend credit. If you have a bad payment record, it is possible that you might get rejected for that. So please ensure that you have a great financial track.
JAMEL
Truck factoring is a business that has caught on and is also one that is very beneficial to all truck owners. It is different from a bank in terms of rate of interest and disbursement time. Believe it or not, but most of the freight factoring companies do disburse 90% of the amount within 24 hours to 48 hours only. This is really great for the truck owners, who normally face a crunch for money. And that is usually due to the credit line with their customers or clients. Normally, it is advisable to check with known people or colleagues about any freight factoring company before signing up. This is important for the safety of your business.
Please cross check and confirm all that you need to know about a particular vendor in advance. Not everyone can be trusted, even though there are plenty of genuine factoring companies out there who have very good customer care back up. This is necessary as they are the ones that collect payments from your customer and your customer is ‘Boss’. You wouldn’t want your relations with your customers or clients to be strained, right? It is the factoring company that gives you business and keeps your trucks on the road. Hence, you need to be rest assured that it remains that way. You cannot have a demanding or rude factoring agent. So do ask around and get as much essential information as you can.
If they do have provision for a short term contract, then go for it. Just in case you are not satisfied, you can always discontinue your contract and look elsewhere. But long term agreements tie you down and keep you in an arrangement that is detrimental to the success of your trucking business. And nobody wants that to happen. Your business is your baby and you wouldn’t want some joker ruining everything for her, right!
So choose one that is good for your business and also has a positive impact on the growth aspect. And having a great vendor is better than going to the bank as the amount of cash you receive is against your invoices (sale of assets) and hence it is not a loan. It is your own money, just being given to you earlier. This money in turn helps you to pay for fuel, salaries, and other expenses that may crop up. It is a perfect ‘arrangement’ if only the vendor is the right one.
Most contracts last a year, after which they are renewable unless you would like to give sufficient notice and discontinue the same. Most truck factoring companies do not enlist small trucking companies and hence, it is a little more difficult to find a company if you have a small business. But don’t lose heart there are quite a few companies that do extend credit. If you have a bad payment record, it is possible that you might get rejected for that. So please ensure that you have a great financial track.
JAMEL
Eric, RI asked:
Is the training the same for truck and bus drivers?
Is the training the same for truck and bus drivers?
I am 24 years old.
I have been driving for almost a year.
My car has automatic transmission.
CLAUD
