If you’ve been wanting to grow your business but simply haven’t had the capital to invest in a company vehicle, commercial car finance from Credit Concierge is the solution for you!

Whether you’re a long-standing enterprise in need of a new fleet or are an aspiring entrepreneur ready to take your food truck venture to the next level, commercial car loans can be highly beneficial for your overall cash flow. With easy online applications and steady, affordable repayments, your business can continue to grow without the financial liability of unrealistic interest rates that ultimately hurt your cash flow and bottom line.

Give Credit Concierge a call today to start your auto loan application.

Prepare Before Applying For A Commercial Car Loan.

We know how excited you are to get those wheels turning and on your way to growing your business. However, it is best to be prepared to help your broker make the loan process as simple, easy and efficient as possible. Lenders typically require several documents from their applicants, so having these in order will surely allow for a speedy process.

  • Partnership/Trust agreements
  • Profit-loss statements
  • Tax returns
  • Bank statements
  • Driver’s license

Not all lenders will have the same requirements, but keeping these documents on hand will ensure you get your loan approved as quickly as possible. Once you’ve submitted all the necessary documentation, the lender will conduct a risk assessment to determine whether you are eligible for commercial car finance.

Who Owns The Vehicle?

One of the major questions around car loans is who holds ownership. Typically, the lender of your commercial car loan will be listed as a lienholder of the vehicle you purchase. So, if you miss a payment and the loan goes into default, the lender has the right to repossess the car.

Once you clear the full amount of the loan, including interest, within the agreed term, the vehicle’s title will be transferred to you, and you will have full ownership of it. You can either continue using it for business purposes, trade it in for a newer model, or sell it.

It may be worth noting that if you plan on using the vehicle for a long time, you may be able to write off the depreciation on your tax returns.

Giving your business the resources it needs to grow in a competitive market is a lot easier with the help of commercial car financing from Credit Concierge. Contact us today to learn more!