If you’re starting the process of acquiring a tow truck for your business, whether it is your first, or if you’re adding to your fleet, the options in front of you can seem vast and overwhelming. There are many different online sellers with a ton of listings to sift through, like Commercial Truck Trader and Equipment Trader, and you still need to figure out how you’re going to pay for it. You know you want to finance the tow truck but are worried it may take a long time if you haven’t chosen the exact model you want to move forward with. You may even be asking to yourself “Will I qualify?” These are all understandable concerns, and we see them every day with the various customers we communicate with here at American Equipment Financial Services. We’ve developed a solution that has been incredibly helpful for anyone looking to get financing for a tow truck: Pre-Qualification.

Traditionally, many commercial lenders have had a standard practice of leading you to their credit application for you to complete, and would then ask for various items, including anything from bank statements, to tax returns, personal financial statements and more, to analyze your credit profile. Once these steps have been taken, they would then pass along a quote that may not even be close to your expectations, and now you have spent valuable time on an avenue that you aren’t wanting to pursue.

We have flipped the script on this process and aim to get you quotes BEFORE running your credit or asking for any additional items. Using our extensive data over years of operating in the commercial lending industry, we have developed a Pre-Qualification form that can accurately place you in one of our programs, and give you quoted term and payment options within minutes so you can start getting a better idea of how to proceed in your search for a new tow truck. You can even get a quote and use that for any similar unit, so that you’re not tied down to one item.

There are other articles on tow truck financing that put the ball in your court to figure out if you need to find lenders that are more credit-based, collateral-based, cash flow-based, and more, but let us be the first to tell you, there are a lot of options out there, and your search could take you down a lot of avenues that, again, may elongate the process of getting the funding you need to start making more money with better, or additional equipment. We have programs for all of the above, and have specified questions that will help us identify where you stand and how we may best be able to find an approval for you. Time is valuable, and we want to make sure we’re saving you time so you can focus on your business.

So, apart from saving you time, how can Pre-Qualification make tow truck financing easier? Once you are Pre-Qualified, you can generate a Pre-Qualification letter as you shop around to show to dealers that you have been in conversations with a commercial lender and have been quoted a payment you’re happy with. Having this letter can be a huge benefit during your search, because it shows lenders that you are serious about buying and have already taken steps to move forward. Rather than being a “window shopper”, you’re saying “I’m ready to go!” Don’t you think equipment sellers will respond a bit better to a more serious shopper?

All in all, if you’re ready to move forward with getting Pre-Qualified for tow truck financing, we have an asset-specific page you can visit to get started. This will get you paired up with a rep who will be in tune to your tow truck needs. You can find our form to get Pre-Qualified at: https://towtruckfinance.com/