How to Get a Hot Shot Truck Loan

Get a hot shot truck and trailer loan now!

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Hot Shot Truck Loan: Easy Steps and Tips

Steps and tips on how to get a hot shot truck and trailer loan. With a hot shot truck loan a driver can get a big rig tractor and trailer on the road.  Loans also include trailers such as gooseneck trailers, car haulers and semi -trucks.    Low credit scores may qualify and some start up options are available.

Does your Hot Shot Truck down need mechanical or body work? Use this program for:
Transmission repair
Body Work
Engine work

Get back on the road asap by completing the short Info form below now!

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Call us at Tel:  1-919-771-4177, or Question? Contact us here.

Estimated Cost: $0
Total Time: 1 Day
Supplies Needed:  time available.
Tools needed: Internet connection, phone, computer

 

How to get a hot shot truck loan

Step 1. Make a list of the trucks needed.

Include description, manufacturer, year and model numbers. Have your information on the hot shot trucks you need ready to go.

Have the description, manufacturer, year and model number ready for each tractor trailer truck and trailer.

Look for lenders that specialize in hot shot truck and trailer financing.

Step 2. Contact lenders that finance hot shot truck loans on trucks and trailers that you are looking for or already have.

Tip: Programs lend up to 95% maximum on qualifying trucks and trailers.
The vehicles and trailers must be free and clear. Have the information on the seller ready and whether the seller is a vendor or private party.
Ask about their approval requirements and program options including credit scores, down payment needed, documentation required, time in business and time to close.   Decide which programs are the best match for your business based on the requirements and your own profile.  Give the funder basic information on the trucks and trailers.   Ask what your chances of approval are and if they can pre-qualify you.

Call the lenders that specialize in this financing

Step 3. Provide income verification to strengthen your request.

List the stronger credit owner first because you will increase your chances for approval and also get higher offers.  If your credit score is low but you can make a higher downpayment, tell the lender.
TIP:Higher down payments increase the chance of approval and more favorable terms.

Step 4. Complete application for funding.

If you are approved,  review terms and conditions including down payment requirements, fees and time to close.   If you are not approved contact the lender to discuss available options.

Once you have matched the best program to your profile, complete the application.

Step 5. Request closing documents

Complete all closing stipulations and lender closing call with the customer.
Confirm the funded amount to you as well as when and how your business will receive funds.

Look over all terms and conditions on offers. Consider early payoff options and compare terms on multiple offers. If declined, then apply with other programs. Ask what the decline reasons are and whether your application can be reconsidered if you resolve any decline reasons.

Apply Securely Now

DocuSign Secure 15 Second Info Form Here.

Call 919-771-4177 for more info.

FAQ Frequently asked questions on how to get a hot shot truck loan

How can I get a hot shot truck Loan?

To get a hot shot truck loan, provide information on the vehicle and trailer. The year, manufacturer, model number, cost and amount you have down are needed to start. An invoice or bill of sale may be required.

Do I need a down payment?

You will need at least a 5% to 10% down payment. A lower credit score requires a larger downpayment. Newer business less than a year old and up to 5 years may need 10% down.
Credit scores over 650 and 2 years in business can make a lower down payment or two payments at closing.

Can I buy my semi truck from a private party and not a dealer?

Lenders prefer or require the purchase to be from a licensed dealer. Private party purchases are scrutinized more. Proof of the current value, purchase history, lien history and current condition will be closely looked at on private purchases.


Need other options?
Check here for other small business loans without vehicles.