Financing

We offer competitive finance terms and with credit approval up to a 60-month term loan, O.A.C, you can be in your truck with $0 down O.A.C. TCI works with multiple lenders that specialize in all types of credit, and financing options are available to CDL drivers with at least two years driving experience. So, whether you’re a first-time buyer, overcoming past credit challenges, or have excellent credit, we’ll work hard to get you approved for a loan.

Financing Basics

If you’re new to purchasing used equipment, there are 5 basic things that you should understand about attaining financing that will be helpful for you in making the necessary preparations.

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The Finance Application Process

As with any form of financing, certain documents are required, and the more documentation provided, the more likely you’ll be approved and given better interest rates and terms.

In addition to your credit score being a key factor, the following information will be beneficial to you as well:

  • A less than ideal credit score may require a cosigner.
  • Provide records of existing loans and lines of credit.
  • Proof of CDL driving credentials and experience
  • Tax returns and payroll or income documents.
  • Proof of insurance.
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Know Your Credit Score and How It Affects Loan Options

We do everything we can to help customers acquire the equipment needed, but ultimately your credit score will affect the down payment required, length of the loan, and interest rate. Generally, a score of 600 or better is required and the higher your score, the better rates you’ll qualify for. Check out our available finance programs.

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Basic Qualifications for Financing

Congratulations on your new business endeavor! The following qualifications are required for first time buyers and new truck owners/operators to be considered for our in-house financing:

  • 2 or more years CDL driving experience
  • Financing $10k or more
  • 10% down payment
  • Credit score of 670+ (first time buyer) or 700+ (new owner/operator)
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Working on Rebuilding Credit or New to the CDL Driving Experience?

Whether you’ve suffered financial setbacks that damaged your credit and are working to rebuild it, or you recently acquired your CDL and have less than two years driving experience, if you can meet the following requirements, we may be able to help!

  • Less than two years CDL driving experience
  • Financing $10k or more
  • 20% down payment
  • Credit score of 550+
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If You’re an Experienced Driver with Average Credit

If you hold your CDL and have 2+ years driving experience along with a credit score of 650+ to 700+, our in-house financing department can likely offer you an exceptional plan.

  • 2 or more years CDL driving experience
  • Financing between $10k – $15k, depending on your credit score
  • Zero down payment
  • Potential 90-day deferred payments

Bottom line, at TCI, we will work hard to help you find the perfect truck and get you approved for financing that is beneficial to you and your professional future.