Commercial Vehicle Loan

We are a full-service commercial finance company specializing in connecting businesses to loan options for all types of vehicles, including trucks and vans. We help our clients navigate complex loan processes and overcome obstacles, like low credit scores.

We know many businesses depend on reliable transportation for daily operations. We’re here to help you explore your options and find the best solution to successfully run and grow your business.

Several different lenders, including finance companies, banks, and credit unions, offer commercial vehicle loans. While commercial auto loans work similarly to consumer auto loans, they usually include a more considerable loan amount and require a different financing process. Companies can use the loan to purchase new or used vehicles.

We’re here to help you understand the requirements for each type of commercial vehicle loan.

Often, businesses don’t have the cash available to purchase vehicles. Business owners need a reliable option to finance their vehicle needs. A commercial auto loan provides many benefits.

• Flexible Terms – As an independent financial company, we work with a large variety of lenders. We give our clients access to flexible terms.
• Lower Interest Rates – The interest rate is typically lower than traditional personal car loans because there isn’t as much risk associated with the collateral for the loan.
• No Down Payment Required – In many cases, lenders do not require a down payment for business auto loans.
• Low Monthly Payments – With a commercial auto loan, monthly payments tend to be smaller than those made on personal loans.

If you need a business vehicle loan, contact JD Rowe Financial. We’ll walk you through the loan servicing process. Once we narrow down your lending options, you can shop for the right vehicle to fit your needs.

You can tailor your vehicle choice to the amount of financing available. Then, we’ll make sure you understand your monthly payment obligations. Securing funding for a commercial vehicle is often more straightforward than other types of commercial lending.

To answer this question, we first look at why a business would require financing. There are three main reasons a business owner purchases a vehicle:

• Replacement Vehicles – A business buys a replacement vehicle when needed due to normal wear and tear or vehicle damage. When replacing old cars, a company typically requires enough money to pay off the old vehicle plus finance the new one.
• Expanding Existing Fleet – Expansion refers to buying additional vehicles. For example, expanding operations by opening another location or new business growth may require more transportation options.
• Vehicle Purchases for a New Business – If a business needs to buy many vehicles, buying outright is usually cheaper than leasing. However, leasing may offer a better solution for a new company that only requires a small number of cars.

Regardless of the reason for purchasing a business vehicle, JD Rowe Financial can connect your business to the financing option that best meets your needs.