Get Approved for financing

Leasing a truck can be confusing, especially for first-time professional drivers. If you are just starting out, there are a few things you need to know before you lease for the first time. In order to get approved for leasing your truck, follow these simple steps and you will be ready to hit the open road!

• Proof of Business. In order to get approved, you need to first make sure that you can acquire proper proof of your business. This could include an official record of your business online, your first year of taxes showing business income, or you can apply for an EIN or DBA on the IRA website. You may also need to demonstrate your authority as an official owner-operator, which can be done through a USDOT number or MC number.
• Boost your Credit. Now, it is time to take into consideration your personal credit score. This score may have significant influence over whether or not you are approved for truck leasing or financing. Consider using a credit repair company, or ask a professional for advice on boosting your score before you attempt to finance.
• Good Condition. The condition of your truck may also alter your chances for getting approved for financing. Make sure you acquire a truck that is less than ten years old, and has less than 700,000 miles. This way, you can demonstrate to a lender that your truck is in mint condition and is a good investment. Be sure to check the make and model, year and mileage, condition report and check to see if it has been used before.
• Truck Insurance. More than likely, your lender will want to see proof of your truck insurance as well. Try to remember that your vehicle is ultimately your business, and therefore you should attempt to protect it as much as you can. If you hire out to a carrier, that carrier could cover your insurance needs, but don’t count on it.

If you need assistance or advice regarding getting approved for financing, contact Crossroads Leasing & Finance, LLC or visit https://www.crlease.com/credit-application.htm.