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Capital Solutions Commercial Truck Financing

An established equipment financing specialist with a collateral-based approach, enabling clients to build their credit score faster by paying their dues on time, while focusing on providing the best services in the industry.

The company was created in 1977 to help its clients with bad credit receive the financing they require to help them expand.

Maya Friedman The company was created in 1977 to help its clients with bad credit receive the financing they require to help them expand.
Maya Friedman
July 8, 2022

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Capital Solutions is an established equipment financing specialist that helps clients receive loans to finance their commercial trucks. The company uses a collateral-based approach, which means it approves deals without relying on credit scores. The borrower applies for a loan against the security of an asset like a deposit, insurance, or land. 

Since the borrower has provided security for the lender, this entails receiving the needed financing at much lower interest rates than those obtained when applying for an unsecured loan. Financing firms usually require the collateral to be of at least 80% of the loan value, which means borrowers are more likely to access large loan amounts. 

The approach adopted by Capital Solutions also enables clients to build their credit score faster by paying their dues on time. Since a credit score determines how likely one is to not default on a loan, completing timely payments increases one’s credit score and makes one eligible to acquire more financing in the future easily.

Many people wonder how Capital Solutions provides financing for bad credit, and the answer is quite simple. They add value when they receive collateral to increase the equity in the deal. This allows for the issue to be overlooked while they can focus on providing you with the best services in the industry.

Types of Commercial Truck Financing

Semi-Truck Financing

Ever since its establishment, Capital Solutions have provided truckers the opportunity to finance their semi-trucks. Since the firm is in the trucking industry, it understands how it works and does not require much to receive financing.

Capital Solutions understands that borrowers are not defined by their credit score and allows them to quickly access a financing deal that suits them since no minimum credit score is required to receive funding. 

Capital Solutions does not sell trucks, allowing borrowers to pick where they want to finance their vehicle, whether through the dealer or a private auction. Most lenders will typically limit their buyers to receive their trucks from their network of dealers. 

On the other hand, Capital Solutions provides its clients with a lot of flexibility. Not limiting the buyer to specific locations allows them to find better deals on the commercial truck they are trying to finance. 

Another reason why Capital Solutions is the number one destination for truckers seeking financing is the company allows borrowers to finance used semi-trucks depending on the age, type, and condition of the truck.  Most lenders are hesitant to provide funding for used trucks. This is because older trucks are more likely to break down and require maintenance. 

However, Capital Solutions allows trucks like Freightliner, Volvo, and International to be funded up to a decade old. They can go even further with Peterbilt and Kenworth since they are infamous for reliability; however, all financing deals depend on the truck’s condition. 

Trailer Financing

Capital Solutions understand business owners from the trucking industry are reliant on their fleet of trucks to succeed in the business. It should come as no surprise their fleet is what drives their business. 

Most lenders offer multiple solutions for financing trucks; however, one of the essential aspects of the industry is overlooked. Whether hauling cars, making deliveries for clients, or transporting freight nationwide, a good trailer is crucial for the truck to run efficiently. 

Trailers are very affordable to transport many goods from one place to another compared to other options. Without a trailer, individuals would have to rent a large vehicle which is expensive and time-consuming.

Capital Solutions offers financing solutions to all types of trailers since each industry has a unique requirement for the kind of trailer it requires. Semi-truck owners will need a conventional semi-trailer or tractor-trailer, commonly known as the tractor. The weight on a semi-trailer is supported by a tractor unit and its size usually is  48–53 ft x 8.5 ft. 

The perishable goods industry requires reefer trailers to maintain a specific temperature throughout the journey. These air conditioned trailers ensure the client’s cargo stays fresh during its trip through the country. Flatbed trailers are the most commonly used trailers and are highly versatile. They allow freight to be quickly loaded onto the bed and can carry up to fifty thousand pounds of cargo.

 Another commonly used trailer is a dry van designed to protect cargo from outside elements. This type of trailer is typically used in the non-perishable goods industry like textile, beverages, construction, and machinery. Dump trailers are usually used in the construction industry and are versatile, allowing them to carry cargo such as sand, trash, and barrels.

The minimum value of a trailer that Capital Solutions will finance is $8,000 unless the vehicle is a used dry van or in the trucking industry. Capital Solutions offers financing solutions with maximum flexibility for the trailers stated above since individuals with bad credit are eligible to apply. 

The company knows small businesses’ struggles during their initial stages, and many do not get access to commercial trailer financing. However, Capital solutions are devoted to helping small businesses who may need the required funds to help them cement their grounds in the industry.

Dump Truck Financing

Capital Solutions offer numerous packages for businesses seeking to finance their dump trucks. A dump truck is used for transporting materials like sand, coal, and construction material to the required destination. Dump trucks usually have a hinged open box bed connected to hydraulic rams which allow the box to be lifted and the material dumped onto the ground quickly.

The company offers its dump truck financing to numerous businesses, including new businesses. This is also provided for businesses that provide debris removal services. When buildings are demolished, they usually leave behind a large chunk of debris that cannot be lifted in conventional trucks. Capital Solutions offers its dump truck financing to firms to facilitate the transport of demolition debris. 

Gravel pit and rock companies are also provided this facility to allow them to finance new dump trucks for transporting large amounts of gravel, sand, and rock away from the pits to their facilities.

Capital Solutions offers to finance a variety of dump trucks, including quad, tri-axle, and tandem vehicles. Tri-axle dump trucks are usually more lightweight compared to quad-axle dump trucks. 

Their weight allows them to be more fuel-efficient at the cost of having lower operating weights. A quad-axle dump truck has two powered axles and non-powered axles. They can carry longer and heavier payloads than tri-axle dump trucks and are usually the better choice for longer hauls. 

On the other hand, a tandem dump truck has one axle in the front and two in the back, distributing weight evenly across its bed. This allows the vehicle to carry a heavier payload safely and efficiently.

They also offer financing for articulated dump trucks, commonly known as dump haulers. These mammoth dump trucks are heavy-duty trucks that transport a large payload primarily through rough terrain.  

An articulated dump truck consists of two units; the front section is called the tractor, and the rear is the dump body. The vehicle has all-wheel drive and is steered by pivoting the front with the back by hydraulic rams, allowing it to be an incredible off-roader.

Moreover, Capital Solutions offers to finance transfer dump trucks. This truck consists of the typical dump truck pulled by a separate trailer with a container that can be loaded with construction, sand, wood, and other materials. They can haul up to 30 tons of cargo and generally carry four loads per day.

Commercial Truck Leasing

With the current state of the economy, obtaining a lease for a commercial truck is a highly tedious process. The process is worse for business owners with bad credit since banks, dealers, and equipment financiers are hesitant to provide them with the necessary financing. In this case, borrowers are left with few options.

Capital Solutions aims to bridge the gap between financing solutions and business owners with bad credit. It offers commercial truck leasing regardless of credit. Commercial truck leasing provides business owners a safe alternative to purchasing a commercial truck. 

There are numerous benefits of leasing a truck over buying one. Firstly, it offers business owners financial flexibility. Since borrowers can obtain a lease through Capital Solutions with low or no down payment, businesses are left with more cash to spend on other operations. Borrowers need to pay Capital Solutions a fixed monthly fee making their spending more predictable. This allows companies to strategize their budgets better since they can benefit from better cash flows. 

On the other hand, purchasing a truck would mean the buyer would have to pay a large sum of cash in one transaction, limiting their options. Capital solutions have lower monthly payments with creative lease structures that assure clients get the best deal for their dream truck.

Leasing also lowers the cost of owning a commercial truck. This is because a lease does not always lead to vehicle ownership, which means the borrowers are protected against hidden costs such as the depreciation of the commercial truck. Also, some leasing packages may include the cost of maintenance and repairs, administrative operations, and substitute vehicles if your commercial truck breaks down. Since business owners do not have to worry about their commercial trucks, they benefit from having more time to focus on expanding their business.

Another benefit of leasing a vehicle through Capital Solutions is that it allows a company’s fleet to stay up to date. Since the borrower is not claiming ownership of the vehicle, they may opt to renew their lease with new vehicles. Business owners do not have to worry about maintaining and disposing their vehicles as Capital Solutions will handle that. 

This reduces maintenance costs as new trucks are less likely to break down when compared with older used trucks. Finally, business owners can also claim a tax write-off since leasing a commercial truck allows taxpayers to be exempted from certain taxes.

Semi-Truck Repair Financing

If you're a business owner who relies on a commercial truck for deliveries, repair bills can be expensive. Not to worry - Capital Solutions offers financing for repairing a semi-truck. They understand that your truck needs to be operational as often as possible, so they offer flexibility regarding repayment terms.

Regularly maintaining your truck is the best way to prevent vehicle downtime, but sometimes unexpected repairs are unavoidable. That's where Capital Solutions comes in – it offers financing for all types of repair work, large or small. So, whether you need to fix a flat tire or overhaul the entire engine, they can help.

Capital Solutions offers repair financing for semi-trucks with a market value of over $15,000. Equity in the truck is used as collateral to secure the funding, and no minimum credit score is required. 

Financing amounts can range from $3,000 to $30,000, making it easy to cover the cost of repairs and maintenance. Capital Solutions makes it easy to keep your truck on the road with flexible repayment options and quick approval times.

“The company is very flexible with its loan requirements, and willing to work with bad credit scores”

Who should apply for Commercial Truck Financing with Capital Solutions?

When it comes to financing a commercial truck, a few different options are available to applicants. Some of the most popular methods include bank loans, leasing, and using a truck finance company. However, Capital Solutions has often considered the best option out of all the possible choices.

There are several reasons why Capital Solutions is a good choice for truck financing. First off, the company is very flexible with its loan requirements. They are willing to work with bad credit scores, which can be helpful for those who may have difficulty obtaining a loan from a traditional bank. 

Secondly, Capital Solutions has an excellent customer service department that is always willing to help with any questions or concerns applicants may have.

Capital Solutions may be a good option if you're in the market for commercial truck financing. They offer a variety of trucks to cater to multiple industries, and they understand the complex business models of truck financing. 

To see if Capital Solutions is right for you, consider these factors:

1. What type of truck do you need? 

Capital Solutions offers a variety of trucks to cater to different industries. Whether it be dump trucks, trailers, or semi-trucks, they contribute to all vehicle financing requests.

2. What is your credit score? 

Capital Solutions offers financing for borrowers with good or bad credit. Since the company uses a collateral-based approach, it can overlook credit and focus on equity.

3. How much money do you need? 

Capital Solutions has amassed a pool of private funds to help finance the right commercial truck for your company. 

Capital Solutions Loan Application Process

Capital Solutions is a trusted provider of financing deals for commercial trucks. Obtaining a loan is fast and straightforward, with a response time of fewer than 48 hours. There is no need for a good credit score - Capital Solutions is here to help you get the truck you need, regardless of your credit history.  

Capital Solutions offers an online application form for an easy and convenient way to apply for a financing deal. The approval process is quick, and funding is released once the lender approves the truck.

The following steps will guide you through the loan application process:

1. Apply for a loan by calling Capital Solutions by phone or by completing the application on our website:

Capital Solutions allows its clients to apply for financing at their convenience. They may either fill out the form on their website or call them and speak to one of their qualified associates.

2. Expert financing associates from Capital Solutions will pre qualify you by sending you an email with the necessary information:

Once a client is prequalified, they are sent an outline of the proposal through an email. The proposal contains all necessary information regarding the deal, including financing, payment, and terms. 

If the client agrees to the terms, they may click the link in the email, redirecting them to the main application page, where the borrower will fill out the necessary information.

3. Submit the main application and submit it to the underwriter:

The underwriter is the actual decision-maker in this process. Their job is to approve a client’s loan once they have received the necessary information. Once the underwriter has received the application and has finished reviewing it, he will give the directions to proceed with the deal.

4. Get approved by the underwriter and pick out the truck you want to finance:

Capital Solutions does not provide trucks and is not in the business of selling trucks. Clients are highly recommended to decide on a truck before applying for commercial truck financing. 

Once a truck is picked, and Capital Solutions receives the relevant invoices, they will prepare the documents.

5. Sign the documents and complete the transaction

Finally, once the documents are approved, an email will be sent to the borrower for their signature.

“Capital Solutions have a unique approach to the interest rate, allowing the borrower to save a lot of cash”

Capital Solutions Commercial Truck Financing Interest Rates

Commercial truck financing interest rates depend on the applicant's credit score, the loan term, and the borrowed amount of cash. The interest rate you receive will also be impacted by the type of Commercial truck you purchase. For example, Personal vehicles utilized for personal travel will have a lower interest rate than those used for commercial activities.

The interest rates on Commercial truck loans can vary from 4% to 18%. As with most types of loans, the shorter the loan term, the higher the interest rate. Borrowers with a high credit score will usually qualify for a lower interest rate than someone with a lower credit score.

At Capital Solutions, they have a unique approach to the interest rate. It writes the interest rate up as a lease-purchase expense, so it virtually does not exist. This helps the borrower expense the entire payment from their tax returns, allowing them to save a lot of cash. 

Frequently Asked Questions

What is the minimum credit score required to apply for financing?

The most frequently asked questions at capital solutions include inquiries about the minimum credit score required to make a purchase, which does not exist. The people they work with are usually expected to have quite a low credit score. The approvals are made based on the equity in the form of additional collateral or large down payments that have worked out quite well.

How long does it take to receive financing?

Typically, the turnaround time is a week, however, deals backed by real estate average two to three weeks. The turnaround time can be as quick as the customer would like it to be in most cases.  

Once the client has submitted the necessary documentation, Capital Solutions expert financing ensures the customer receives timely updates on their application process.

Does the truck have to be new?

Many people have also inquired about the age of the trucks Capital Solutions often works with, and the answer is that it usually depends on the equity, including the collateral or down payment. Freightliner, Volvo, Peterbilt, Kenworth, and Mack trucks are preferred due to their reliability and may be financed for earlier models. 

This might move up or down depending on the vehicle, while older dump trucks, vehicle haulers, and other trucks are eligible for financing.

Does the truck have to be bought from Capital Solutions?

No, Capital Solutions does not sell trucks and do not bound their customers to purchase from their inventory. This ensures clients have flexibility in the vehicle they need allowing them to buy the truck anywhere. 

While it is not necessary, Capital Solutions clients are highly encouraged to choose a truck before applying for a loan. This allows them to get a better idea of their payments before committing to the deal.

What interest rate does Capital Solutions offer?

For businesses looking to write off their taxes, Capital Solutions offers to write the interest as lease purchases. This allows their clients to turn interest rates into an expense and helps them save money in taxes. Capital Solutions does not have an interest rate; instead, it offers lease-purchase fees.

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