What Are the Benefits of Owner Operated Truck Financing? (Part 2)

There are many benefits of owner-operated truck financing, with the most significant being that financing allows you to build the career you dream of, with the financial freedom that follows. Whether you’re upgrading from a current truck, buying an additional unit, or looking for a trailer, financing makes sense. Here are some of the reasons why:

Financing Has Never Been Easier

With 10-4 Financing, the process of financing a truck is simplified. We offer competitive truck financing rates and our underwriters look at your complete financial picture, which means credit issues, foreclosures, and bankruptcies aren’t automatic disqualifiers. That said, if you do have good credit, you might be approved for rates as low as 9 percent and no down payment. You’ll get a same-day approval so you won’t have to wait around for an answer.

The process is easy. Fill out the form on our website or give us a call. One of our underwriters will prequalify you and identify your truck. You will be issued an approval and discuss terms. Test drive the truck, sign your documents, and we’ll provide the financing.

Financing Lets You Make the Move From Truck Driver to Owner-Operator

While driving a truck can be lucrative on its own, being an owner-operator is much more rewarding for many of our customers. Finally, they can truly work on their own terms, setting their own schedule and rates. As an owner-operator, you’ll be your own boss and all of the profits you make are yours to keep. Eventually, you may even decide to expand your fleet further so you can run your own small trucking business.

Of course, few people have the financial means to take that leap from driver to owner-operator without assistance. 10-4 Financing empowers you to build a business without having strings attached, like leasing. Once you’ve paid off your loan, you will own your truck outright.

Financing Lets You Build Equity

Related to that last point—financing allows you to build equity. Semis and trailers don’t depreciate as quickly as cars do, so it makes more sense to purchase a truck with financing than getting a lease. Should you ever decide to leave the business or sell your truck, you’ll get some of your investment back; if you decide to upgrade to another truck, you’ll be able to cash out that equity to roll into a down payment on your new one.

Financing a Truck Allows You to Build a Stable Future

The past year has been one full of volatility in the economy, with unemployment skyrocketing. Many sectors of the economy have been suffering, and others may even become obsolete, but there’s always a need for truckers to transport goods and cargo from one location to another. If you are concerned about the economy, you can have some peace of mind knowing that you’re in a field that is fairly stable. 

Learn More About Owner-Operated Truck Financing

If you’d like to discuss how 10-4 Financing can help you finance a truck, contact us today to speak with one of our representatives.