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Lender. Loan type. Top features. Bank of America. Equipment loan. Available for commercial vehicles over 2.5 tons. Fixed interest rates as low as 6.75%. Loan terms up to 5 years
Key takeaways. Semi-truck financing can be easier to secure than other business loans, even if you are a new business or have bad credit. Businesses can take advantage of depreciation and the ...
SBA loan program. Loan amount. Details. Standard 7(a) loan. Up to $5 million. Repayment terms up to 10 years. Interest rates between 11.50% to 16.50% depending on whether it is variable or fixed
Penske truck with loading ramp down. Penske Truck Rental is an operating unit of Penske Truck Leasing that has more than 2,500 consumer truck rental locations across the United States and Canada. Penske rents commercial semi-trucks, straight trucks and semi-trailers to businesses that haul freight. Its truck rental fleet has more than 85,000 units.
Spot delivery (or spot financing) is a term used in the automobile industry that means delivery a vehicle to a buyer prior to financing on the vehicle being completed. [9] Spot delivery is used by dealerships on the weekend or after bank hours to be able to deliver a vehicle when a final approval cannot be received from a bank. [ 9 ]
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Budget Truck Rental, LLC is the second largest truck rental company in the continental United States, with around 2,800 locations and 32,000 trucks across the country. Budget Truck Rental is owned and operated by Avis Budget Group , which was spun off from Cendant .
Origination fee. A fee charged when the lender disburses the loan funds, usually 0.5% to 8% of the loan amount. Application fee. A fee charged when you apply for the loan.
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