Wednesday, August 30, 2017

How to Recognize Quality Truck Financing Companies?

track your finances
Any company driver dreams of breaking free from their employer’s shackles and setting off on their own path of being an owner-operator. Not only is the pay better, you get to be your own boss, make your own rules and go wherever the road takes you.

That’s why you became a trucker in the first place, isn’t it?

Now is a perfect time to take this step. Why? Well, the truck driver shortage hasn’t gotten any better in the past couple of years. You can learn more about it here:

And it’s bound to get worse!

There are only a few months left before the ELD mandate is finalized and all truckers are forced to switch to the electronic bookkeeping. This is bound to force older drivers into early retirement and make the shortage even worse while all that cargo just sits there waiting to get hauled.

But starting your own trucking business is not easy. Not many truckers are in a position to buy a truck up front. Most of them turn to financing companies for help. But big banks and huge financing corporations usually turn a blind eye to owner-operators, choosing to work only with established trucking companies. That’s where specialized truck financing companies like Go Capital come in.

They are only one of many companies offering financing or leasing services to truckers of all age, experience and credit score. But there are weeds even among them. To root out the good companies from bad, here are some of the most important traits to look for in a truck financing company.

Experience in the Field

Experience is everything in the trucking industry. Because of this big banks can never rival an experienced truck funding advisor in a small financing company. The staff at a quality truck financing company is skilled with finances and has a knowledge of how the trucking industry works. That means they can recommend the right insurance agencies, help you with rounding the paperwork and licenses up and give you advice on any other related matter. The only way a good agent can help you pick out the right truck is if they actually take the time to look into different types of trucks, equipment and trailers.

Size of the Company

A big bank can make you feel insignificant. If you ever visited a bank looking for a loan, you know what I’m talking about. Did you notice how the agent was anxiously waiting for their break while you poured your heart out talking about your dream of starting your own company? To a big bank, you are just a number. Another head in the queue. You can rest assured that you’ll never be treated like that in a genuine truck financing company.


A company may offer great terms and trucks for lease, but that does not mean anything if you have to travel across several states to get to their office. Look for a company that has branches in your state, or at least offers an online consultation. This is important both for new businesses and established ones that may need to relocate to a different state.


Friendly service and accessible offices are nothing if the company does not have results to back them up. When looking for a truck financing company, be sure to look their business up on the internet. Visit sites like Better Business Bureau, Yelp, go through blogs and forum or simply Google them. If they deliver results people are bound to share their success stories. If they don’t, people will be even more vocal about it. This eliminates the risk of signing a bad deal that could cost you your dream.

If you are looking for a quality truck funding partner contact Go Capital at:
2485 McCabe Way, Irvine, CA 92614, USA

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