Commercial Truck Financing – Five Things You Need to Know When Applying For Financing

There used to be a saying in the commercial truck financing business which went something like this, If the applicant can fog a mirror they will be approved. These days nothing could be further from the truth. Like other segments of the economy commercial truck financing has gotten very tight. At one time anyone with a credit score higher than 625 could easily be approved. As a financing company that specializes in people with bad credit we are seeing people with credit scores at 675 indicating they are not getting approved through the main stream companies. So what is a truck driver to do? There are some things you can do to better your chances of getting approved. Here are some ideas:

Current or Future Contracts. Informing the financing company or dealer of any contracts you have that support the fact you will keep the truck working. If you can give them a copy of the contract that helps the financing company get a better understanding of your financial health. They want to loan money to people that have the cash flow to service the debt. You would be surprised of how many people want to purchase a truck that have no place to put it to work. They might rely on load boards or brokers they don’t have a relationship with to get loads, etc. Not a good way to run a business. A contract tells a financing company that you are established and have worked lined up.

Past References. Have you financed a commercial vehicle before? The potential financing company wants to know about it. Most credit applications have a section for trade references. Bringing in letters from past creditors showing your good credit history goes a step further in establishing you as a good credit risk. Just call your previous financing company a week or two before applying elsewhere to give them time to send you something.

Seek Out a Recourse Dealer. This requires some homework. A recourse dealer is a dealer who is held responsible if a deal goes in default. The manufacturer will look to them to remarket the truck and make the manufacturer “whole”. To find a dealer that is on recourse simply ask the salesman. A dealer that’s on recourse will be more willing to sign off on an application when sales are down. Work the slow economy in your favor.

Explanations of Past Credit Problems. Have a bankruptcy, repo, etc. Write up an explanation of why it occurred along with any supporting documentation. This puts the blemish in it’s best light and can put a potential creditor at ease. Here’s a good example. We had a customer with a foreclosure on his credit bureau. Not a good thing to have when applying for credit. Turns out his ex-wife got the house in the divorce. The court ordered her to make the payments which of course she did not resulting in his credit problem. When we got the explanation it turned it around for us and we approved him. Bankruptcies due to medical bills are another example of a good explanation.

Bring Something Else To The Party. If you are well aware of your bad credit offer the financing company something to compensate it. A cosigner is common to help get around minor credit issues. If you have major problems offer additional collateral. This is a very common strategy to get around bankruptcies, repossessions and other major credit problems.

As you can see there are ways to better your chances of obtaining financing if you go into it prepared. Open communication with the potential creditor is a must. Being honest and forthright upfront will help put your situation in the best light. Good luck to you.

Have You Been Refused a Mortgage? Owner Financing May Be the Way to Do It!

There are many of us who do have a good enough source of income and wish to buy property; however, we do not qualify for a loan. There may be many reasons for the same. You may have been denied loan because you started a new business or are going through a divorce. You can even be disqualified for a bank loan if you have changed your job or have moved to a new location. Do not be worried by it. Now you have the option to avail owner financing! Yes, owner financing can help you buy property without having to go to the bank. Owner financing is a new form of financing that allows the owner of a property to provide partial or total finance to the buyer.

Therefore, if you have existing mortgages and have been disqualified for a bank loan, check out with the owner of the property you wish to buy and see if you can avail this type of financing. With a substantial income, this type of financing is always better as you can pay off the loan in a shorter period of time without filing an application with the bank for a loan. Closing costs are also considerably lowered with owner financing. As a buyer, you also get the benefit of keeping your personal and financial history in complete secrecy with this financing.

If you are serious about buying the property of your choice through owner financing, it is suggested that you search the Internet or the yellow pages for a good real estate agent who can show you property that is available owner financed. A good real estate agent is just the one who can help you with all the financing queries and get you a nice property in a great location. Believe it or not, owner financing is an incredible concept today and has earned lot of fame in the real estate industry.

What Makes Dental Equipment Financing So Popular?

With the prolific use of modern science and technology used in every branch in the field of medicine and health, dental clinics, associations and institutions are relying more on the latest and most sophisticated of equipment to treat patients. Since the technology is relatively new, there is a very high price that these organizations have to pay. Thus, Thus, dental equipment financing is given a lot importance in this sector. is given a lot importance in this sector. Because, these instruments and gadgets are so marvelously technologically advanced one can reliably invest in them and that can help them build their clientele and success. So dental equipment financing is well sought after and gaining immense popularity.

How does this type of financing help dental clinics and organizations?

There are a host of utilities in the clinic that make use of this kind of financing. Here is a short list of them and how this type of financing aids clinic in getting them.

1. Air and Vacuum System:

These gadgets help in keeping the patient’s mouth clean. They are powered by compressed air systems. Previously, these were two separate systems suing two separate equipments. However, now they have been fused into one machine that makes it more compact. But on the other hand, these are quite costly and dental equipment financing is required.

2. Dental chairs and tables:

One needs a place for the patient to sit and have his or her mouth examined. This is done on a dental chair. With an adjustable height it is sturdy enough for patients of all sizes and weights. You also have features like overhead lights, hydraulics, patient sinks and adjustable levers, etc. these fancy features make the chair an expensive commodity. Performing related functions of that of a dental chair, dentals tables are very useful, especially in veterinary clinics. It is a difficult affair placing pets and animals on chairs and that is how these tables come very handy is reviewing the dental condition and health of animals. But then again, you have to pay quite a price and thus clinics need the services of Dental Equipment Financing for both dental tables as well as dental chairs.

3. Lighting System:

Now, we all know how difficult it is look at things without proper lights. Now imagine how difficult it is look inside a patient’s mouth without a proper lighting system. The service provided by lighting systems is priceless. Thus, having this equipment is a must, despite its price tag. So we have Dental Equipment Financing to the rescue.

4. Examination Room:

These rooms are very expensive to set up. You need different kinds of equipments to help you examine the patient better. Some of them are LCD screens. Dental chairs, overhead lights, furniture and upholstery, etc. Thus it is essential to get hold of Dental Equipment Financing from companies one can trust.

Financing Companies Offering Dental Equipment Financing and The Process

You shall find quite a few of these companies who deal with dental financing matters and can offer loans at a relatively low interest rate. You can apply for them via the Internet f the need be. Processing the application is quick at their end and you have shall have the approval soon enough. Thus, the whole process is hassle free and a good deal for investing in dental equipments. After all, no clinic can run without them

Finance Data – Where to Get It

There is information on finances in many areas you just have to know where and how to look. Finance data helps you keep up-to-date on matters that deal with money. When looking for information, it is advisable that you check online. Here you will have numerous options available to you and all you have to do is sift through and get what you think is important. Financial experts can also give you information on various aspects of finance that can help you when making decisions regarding your money.

They will also give you facts and statistics about investment opportunities that you may be interested in. These experts are there to make the whole finance mystery easier for you to understand. You can also visit your local library and look up books on finances. In addition, there are many magazines and publications with a lot of financial data that has been written by qualified experts.

The information that you gather from these sources guides you when you want to make certain decisions regarding your finances. When dealing with personal information regarding your finances it important that it is protected so that it does not fall into the wrong hands. This is because the information contained is sensitive and it is not a good idea if too many people know about your finances.

You should store your data in a secure yet accessible location. If you do not have a safe place in mind you can acquire the services of a financial firm that you feel can take care of your financial portfolio. Your data also gives you an idea of how you are progressing financially and will let you know where how to improve.

Search Finance – Tips You Must Follow to Succeed

When you are looking for sources or information on finance, it is advisable that you conduct thorough research so that you have all the accurate facts. There are various sources where you can search finance. One of best places to start is the Internet. You will have access to various alternatives and get a lot of information that will cover all the aspects of finance. You need to have a reliable Internet connection and know how to use the search engines to your advantages.

When you want to do research on finance, all you have to do is go to the Google website and type in specifically what you are looking for. When you do this, you then get a list of the different aspects of your topic. It is now up to you to choose the one that matches your search closest since each one of them have a brief description of the topic.

So if for example you are looking for finance firms, you will get a list of the firms that are available. You can also look for information regarding where to get funding for a business that you want to start or even where you can get money to buy a home. The Internet will offer you a variety of choices that will help you get a deal that works best for you.

You can also learn about the different investment choices that are available and how to invest wisely in the short and long term. If you are not too keen on the Internet, you can also choose to access finance information in finance magazines and books. There are experts here who can give you great advice on how to make wise decisions in regards to your finances. Depending on your need to search finance ensure that you get all the facts so that you are able to make informed choices.