YOUR COMPANY IS LOOKING FOR TRUCK / TRAILER LEASING!
TRUCK LEASING SOLUTIONS IN CANADA
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Financing & Cash flow are the biggest issues facing business today
ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT BUSINESS FINANCING OPTIONS?
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EMAIL - sprokop@7parkavenuefinancial.com
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Rolling stock financing in Canada requires specialized focus and knowledge, hefty trucks, transport, trailers, etc. How can the business owner/ manager or truck operator take advantage of the right methods to finance their asset, including heavy duty trucks and vehicles across Canada? Let's dig in.
UNDERSTANDING MARKET VALUE AND RESIDUAL VALUE OF TRUCKS / ROLLING STOCK
Knowing the techniques involved in truck finance puts you well ahead of the game. Because of the high ' residual value ' of these types of vehicles, the actual economic useful life, as well as the wear and obsolescence issue, is key in any truck / rolling stock financing. 
It's not always about the purchase price! Truck leasing prices are one factor in your decision to finance, but not the only one.
TRUCKS AND ROLLING STOCK HAVE LONGER LEASE TERMS / LOWER MONTHLY PAYMENTS
While a typical lease term for many assets is 2-3 years, most heavy trucks have significantly longer amortizations - in some cases, up to 7 years for the right asset. Larger truck and transportation firms might also want to consider operating leases' on their vehicles - this allows the business owner/ manager or owner/operator of the vehicle to address capacity issues in their company or business.
MAINTAINING ASSET VALUES
Knowledgeable maintenance is a key part of rolling stock/transport financing. Having the ability to provide key data on original purchase amount, mileage, key repairs etc., is critical and will allow you to maximize full financing value - especially when it comes to used assets.
REPAIRS AND OPTIONS CAN BE EASILY FINANCED
For acquisition and future financing of trucks, maintenance is absolutely critical. In most cases, a lessor or lender will often finance major repairs to the vehicle/ vehicles in question to maintain value. It goes without saying (but we will say it!) that proper insurance documentation is always required, naming the lessor as a party to the insurance policy.
Licensing and registration must also, of course, properly be documented re ownership, bills of sale, etc.
3 KEY ASPECTS OF TRUCK LEASE FINANCING
The key parts of a truck lease are not really fundamentally that different from any other asset you might wish to finance. Those factors include :
Value of the asset,
Creditworthiness of the borrower/operator,
Estimated future value of the asset in question.
INTEREST RATES
Market financing rates vary in this asset category. They will depend on the type of firm you are dealing with, their ' credit appetite ' and your ability to produce a basic loan package application covering the fundamentals.
HOW ARE ASSETS SECURED IN LEASE FINANCING
Lessors and other lenders collateralize their financing via a PPSA registration (Personal Property Security Act), varying a bit by province. It is simply a central finance filing system used by lenders in Canada. It prioritizes the lender over the asset they are financing, such as truck / rolling stock, trailers, etc.
Note that in some cases, some lessors and lenders actually use GPS devices on their financed trucks to track location, usage, etc.
CONCLUSION
If you're looking for proper company truck leasing of heavy trucks, pick up trucks, trailers, etc., seek out and speak to 7 Park Avenue Financial, a trusted, credible and experienced Canadian business financing advisor who can assist you in your truck lease requirements.
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Stan Prokop
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