How to Lease a Semi-Truck with Bad Credit. It’s Easy and Fast.
The flexibility of our truck leasing agreements is a feature that is appreciated by the owner-operators that we work with. There are various structure options for your truck lease. Ask your Account Manager which of these would benefit you most.
Down payments can be as little as $5000 or 15% of the equipment cost. While there are some exceptions to this, our goal is to make it easy for you to obtain access to your next truck, so you can get on the road and start making money.
Affordable payment options are available with Go Capital. Again, The value of the equipment is one of the factors in determining the payments required. We would advise owner-operators to understand the wholesale or auction value of the equipment they are looking to acquire and shop-around for the best price. If you need help selecting your truck or trailer or finding a dealer, we can assist you with this as well.
Lease terms range between 12 and 60 months. Selecting the right duration for your business is an important part of structuring your lease. The age of your truck or trailer may also impact your lease terms. Newer trucks and trailers are usually leased for a longer term. Your Account Manager will give you guidance on what is most suitable for your business and your desired payment.
Longer terms allow our clients a lower monthly payment whereas shorter terms reduce the total cost and increase your return on investment.
The length of the term also affects tax benefits. A longer term can help spread the benefits, and a shorter term will help you realize benefits sooner.
Why owner-operators prefer to rent a semi-truck or trailer
Tax savings can be secured if the structure of your lease qualifies as a rental agreement for tax purposes. Under this structure you have access to the necessary equipment and secure and added tax benefit. This lease structure is very popular among our clients.
Customers that prefer working with newer equipment make the most out of this option, because their overall costs are reduced and at the end of the term, and they can easily upgrade to new equipment.
End of term
Guaranteed ownership can ensure you are able to purchase the equipment for the price stated in the agreement once the term is over. This is beneficial in lines of work where equipment can be used for long periods of time and with relatively little maintenance.
Returning and re-leasing allows you to return the equipment and start looking for a newer semi-truck or trailer. After making all your lease payments as agreed, you simply return the Truck or Trailer and submit your application for the renewal on the new equipment. Once a new agreement is signed, the new equipment is funded and your old equipment is returned. This allows you to have access to newer trucks each time your lease matures.
Renewing the lease is best for those clients who are satisfied with their equipment and do not wish to change to something else. Your Account Manager should be notified of your decision, so that the agreement can be continued under the same terms for as long as you need.
Purchasing the equipment is always an available option if you do not wish to re-lease or renew the agreement. The purchase price can be stated in the agreement when it is first establish or can be negotiated at the end of the lease depending on your preference.
Returning and canceling the lease is the option for those clients who do not wish to prolong the lease, start a new one or purchase the equipment.