Save Your Capital: Take Advantage of OTR Transportation Financing Instead!
As a full-time OTR truck driver, you are on the road an extensive amount of time. You want a rig that you are comfortable in, but also one that does not interrupt your cash flow. Whether you are contracting your truck for other companies or you are a company purchasing trucks for your drivers to share, it is important to get access to the latest equipment year-round without disrupting business.
Types of Loans Available to OTR Drivers
There are plenty of financing options available for OTR and vocational truckers. Just some of the financing options you could access include:
- Deferred payments. Because being a truck driver means living a life of uncertainty, you could enjoy deferred payment options for those times when you need a few extra weeks to catch up.
- Extended lease and loan programs. You can enjoy extended terms so that you have affordable equal payments for your equipment.
- Sales leaseback programs. These allow you to take the equipment you already purchased in cash and refinance it so that you have cash back into your reserves. This is especially beneficial if you just recently purchased a new truck or trailer and need access to cash.
- Engine repair financing Did the engine in your truck stop? Engine failure is a common occurrence in OTR transportation. With engine repair financing, you do not have to deplete your cash reserves to get your truck back on the road.
- Accessing accounts receivable financing. In most trucking companies, accounts receivable can be paid out from 30 to 90 days. Instead of waiting to access that cash, you can get a loan based on your pending accounts receivables, so that you can upgrade, repair and add to your fleet today.
Meet with the team at Money in Motion to explore your financing options or to discuss a lease program with our experts. We are here to help your trucking business succeed in this highly competitive field.
Fill out a credit application online today or give us a call toll-free at 1-800-461-8625 to discuss your financing options. Do not forget to check out our equipment leasing options available to OTR transportation companies and drivers. If you have questions or inquiries, please do not hesitate to contact us by filling out an online contact form.