When you’re looking for tow truck leasing, it can be difficult for some businesses to get the funding they need to purchase or lease a tow truck. If you’re a newer business, you may have noticed it’s even more challenging to successfully apply for and receive outside leasing for a new tow truck.
Thankfully, it’s not impossible to get funding in most situations, as long as you know where to look and what you can do.
The first thing you need to consider, if you’re just starting out, is what kind of tow truck business you want to run or the services you want to provide where a tow truck is necessary.
If you’re already established, then you need to first ask yourself what your goals are for purchasing or upgrading a tow truck.
Try asking yourself some of these questions to get started:
Understanding or re-evaluating what the roles are for buying a tow truck can help you to make better buying decisions, whether you’re buying your first tow truck or trying to upgrade an existing fleet.
Below you’ll find most of the common types of tow trucks that you can use tow truck leasing for, which will make your buying decision and capability even easier.
Below you’ll find some of the most common types of tow trucks and different characteristis that make a tow truck unique. Know that this is not a complete list of tow trucks, but are among the most common you’ll see.
Above are just the most common types of components you’ll see on tow trucks, but with so many different needs out there and roles that a tow truck can fill, you’ll likely find a variety of different components and features for tow trucks, as well as different configurations through integrated tow trucks.
There are countless ways for a tow truck to be used. Below you’ll find some of the common roles, as well as a few less common roles that a tow truck could be used for in special scenarios.
Emergency vehicle recovery. Accidents can happen anywhere and a tow truck can be the solution to many wrecks. If a vehicle gets stuck in a ditch, or if a crash causes your vehicle to be immobilized, a tow truck can help to recover it, take it off site and deliver it to a repair shop.
Specialty service delivery. Tow trucks can also be used to deliver specialty services to drivers, emergency personnel, and more. For example, a tow truck can deliver fuel to a vehicle, unlock a vehicle’s doors, perform a jump start, or even make minor vehicular repairs on the spot.
High end vehicle delivery. For flatbeds especially, tow trucks don’t need to be restricted to removing damaged vehicles and delivering them to a repair shop. A flatbed can also be used to deliver a high end vehicle to a new destination. For some automobile owners, keeping the car in good shape and making sure the total mileage is kept as low as possible is important to them.
Regardless of what role your tow truck needs to fill, or the specific services your tow truck related business provides, tow truck leasing can help businesses of all sizes capitalize on opportunities to start or grow their business.
Tow truck leasing allows you to skip the waiting game of having to build up enough funds to purchase a vehicle outright. With tow truck leasing you’ll be able to start using any kind of tow truck you need, but stretch out its total cost and payments over a series of years.
Click here for a tow truck leasing calculator to calculate how much your tow truck leasing payments could be and how much of a tow truck you can afford to buy based on your monthly budget.
Where to get tow truck leasing
Tow truck leasing companies can offer the best choice on how you can finance your tow truck.
In fact, even the experienced tow truck owners will advise you to use tow truck loans because it can help you save a lot of money. Tow truck leasing companies will offer you to lease reliable trucks from trusted vendors.
If you are looking for tow truck financing companies that can offer you the best tow truck loan, look at companies like Trust Capital.
Trust Capital offers tow truck leasing with good credit. You can get a $150,000 worth of loan by just filling up a single page application on their website.
The best thing about their tow truck financing and leasing programs is that your application can be approved within 2-4 hours!
Their tow truck loan options are offered with flexible payment options such as no payments for 3 months or $99 for the first 6 months and they have better rates than banks for qualified borrowers.
Tow Truck Leasing Can Provide Huge Tax Savings
When you structure your tow truck lease on a $1 buy out lease agreement you get section 179 tax benefits. With the passage and signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond. The limit on tow truck purchases likewise has increased to $2.5 million.
Trust Capital can reccomend reputable tow truck vendors that have tow trucks for lease. Give Trust Capital a call to discuss your tow truck leasing needs at 866-458-4777 A tow truck leasing specialist can take your application over the phone.