Four Ways to Get Truck Repair Financing
There are certain equipment leasing companies, that in addition to leasing equipments for a certain period of time, also fund truck repairs. Here, for security purposes, the equipment leasing/financing company will hold on to the truck, while the repairs are being done as some form of collateral. This is only possible if there is no other type of debt held against the truck and the owner is in a condition to use the truck as leverage. The credit that is charged will depend on the repair costs and most companies will allow it to be repaid over a period of months or years depending on the amount. However, leasing companies will demand to see proper equity and will then make use of liquidation or auction values, as well as ask for early repayments. This might prove to be difficult for a starting company.
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