Dump Truck Financing

Written by James McNee
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Dump truck financing allows for individuals or businesses to obtain a dump truck without paying the full amount upfront. There are two financing methods to choose from, and they are a lease or a loan. Leasing is similar to renting because you will pay for the truck, but return it after a designated period of time. A loan allows buyers to purchase ownership on a dump truck and to make monthly payments instead of paying a lump sum.

Dump Truck Financing Considerations

Before considering dump truck financing, you must consider the best possible model of dump truck for your business. This will depend on the intended purpose of the dump truck. It will also depend on the climate of your location. For instance, you may need a truck that can work with cooler conditions, rainfall, and the effects of this weather on what you will be hauling if you reside on the East Coast.

Articulated Dump Trucks, or ADTs, are a great alternative to standard dirt-hauling trucks. Standard trucks have a rigid frame that joins the cab and dump body together. This design is appropriate for most conditions, but the frame can twist and weaken over time if you are operating over rough terrain or with extremely heavy loads. ADTs are more durable in rough conditions because the body and cab move separately from each other which allow the ADTs to flex in uneven terrain.

When considering dump truck financing, you may want to initially lease a truck to test it out. If you are satisfied with the performance of the truck, you can purchase it after the lease period has ended. This is a good idea because sometimes buyers will choose a truck that is not right for the business and will not realize it until after the purchase has been made. Leasing gives truck buyers more flexibility and allows them to test different vehicles before buying.

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