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18
May

Equipment Financing vs. Leasing: What’s the Difference?

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Difference between financing and leasing

If you are thinking of taking out a truck loan, then you probably have some questions concerning the differences between equipment financing and leasing. The biggest difference between leasing and equipment financing is in the ownership. That is, when you lease a piece of equipment, then a vendor will allow you to rent it in exchange for monthly payments. This means you will not own the asset during the duration of your lease. Conversely, equipment financing serves as a collateralized loan that will provide you with the option to purchase the piece of equipment outright. In other words, once the…

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10
Feb

Benefits of Leasing Trucks

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Benefits of Leasing Trucks

Within the transportation industry, there is a constant question as to whether companies should buy or lease vehicles. If you find yourself wondering whether there is a leasing truck benefit for your business, this blog could be of interest to you. At Truck Loan Center, we make transportation our business by helping companies like yours. Whether you need help securing a loan or finding the appropriate equipment to grow your brand, we can help. It’s important to note that leasing a commercial truck is very different from leasing a family sedan. There’s also the overall cost to consider. Buying a…

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3
Feb

Which is Better for You: A Line of Credit or Term Loan?

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Which is Better for You: A Line of Credit or Term Loan?

Within the trucking and transportation industry, there are two options to get started. Whether you’re looking to engage a single unit or a fleet, you can either rely on a line of credit or invest in a term loan. At Truck Loan Center, we like a credit loan better. However, there are pros and cons to both. If you’re at a crossroads and trying to determine how to finance your transportation, here are a few things to consider. What is a line of credit? Like a personal line of credit used to buy a car or finance a house, a…

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