Commercial Truck Finance - Frequently Asked Questions
My credit is "less than stellar" can I still get approved?
At Valley Freightliner we deal with a variety of different lenders, which allows us the unique ability to match your credit situation with a lender. We have several different banks we deal with that are more than willing to work with us to get you that coveted "Approved" letter.
What can I finance?
We can finance the truck, incomplete chassis, tractor, body, equipment, and even certain line items for Municipalities that are included in the budget such as trash containers!
Can I finance the body I am upfitting?
One answer: absolutely! We are able to finance bodies upfitted to chassis.
Do I need previous Commercial Finance experience?
Although it is preferred, it is not required. We work with several lenders that offer First Time Buyer's Programs to ensure you can get your business started off on the right foot. Purchasing a truck is an exciting new venture, and at Valley, we are here to get your started!
What is the credit approval process?
After finding your next truck, fill out a credit application, either online or call our Finance Department at 888-560-8782. Depending on your needs we will direct you to the correct application. From there, we work with you and the lender to ensure that your needs are met with regard to term, money down, and trade. Typically, we are able to get credit approved in less than 24-hours barring no additional documentation required.
Why finance my equipment?
The ability to take advantage of historically low interest rates allows you to use your cash for more productive means. Financing or leasing will enable you to pay a lower finance amount allowing you to invest elsewhere whether it be in your truck or your business.
What is Guaranteed Asset Protection or "GAP"?
GAP comes in to play if a total loss occurs, the claim is settled on an Actual Cash Value basis by the physical damage carrier. This could leave a balance due from the customer on the loan. GAP will apy a potion or all of the net outstanding balance owed on the finance contract after an insurance settlement is paid for the total loss of a vehicle.
What is Physical Damage Insurance?
Physical Damage Insurance covers physical damage to the insured truck or trailer, throughout the U.S. and Canada in the event that collision, overturn, hail, earthquake, theft, wind, fire, tornado, flood, or vandalism occur. We offer this coverage with zero deductible!
What is Non-Trucking Liability?
NTL provides liability coverage for non-business use of a truck, such as for personal or non-economic purposes with bodily injury and property damage liability coverage of up to $1,000,000.
If you have any further questions- contact our Finance Department today at (888)560-8782!