Finance Your Tow Truck With The Right Lender

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Tow Truck Financing

Loans for commercial Tow Truck Financing.

When it comes to towing, having the right tow truck can make all the difference. Whether you’re a roadside assistance provider, a towing company, or an individual in need of towing services, choosing the best tow truck is crucial. In this comprehensive guide, we will explore the top tow truck manufacturer brands in the market, their key features, and their towing capabilities. From Ford and International to Freightliner, we’ll cover it all. So, let’s dive in and discover the best tow truck manufacturer brands that can meet your towing needs.

Documents You May Need For Equipment Financing

Some additional requirements may include a copy of the invoice for the equipment you wish to purchase and photos of the equipment.

Business License

You will need to provide evidence that you own a legally registered business. This can be your LLC or article of incorporation

Bank Statements or Proof Of Income

Bank Statements Or Proof of income – Proof of income is a requirement for almost all lenders and loan types. This is proof your business is able to repay the loan

Tax Returns

Some lenders may require you to provide tax returns to further proof of healthy business financials. This is more common with SBA and term loans

What are my other funding options?

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SBA Loans

Startup Loans

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Business Term Loans

Why consider Tow Truck Financing?

There are numerous reasons why towing companies might consider financing a tow vehicle as opposed to acquiring it all together. These are a few of the most important advantages of tow truck financing:

Access to capital: Funding a tow truck enables firms to acquire or replace important equipment with the capital necessary. This is especially advantageous for startups and small enterprises who lack the funds to purchase a tow truck entirely.

- - Easy cash flow: By spreading the expense of the equipment out over time, financing a tow truck can assist businesses in managing their cash flow. This can assist firms in avoiding cash flow problems and ensuring they have sufficient finances to handle other business needs.
  - Tax advantages: financing a tow truck can provide businesses with tax advantages. In many instances, the business can deduct the interest paid on the loan from its taxes, so reducing its overall tax burden.
  - Improving credit score: Over time, financing a tow truck and making on-time payments can assist businesses in enhancing their credit score. This can provide future access to better funding conditions and interest rates for firms.
  - Keep up with technology: The towing industry is continually evolving, and new solutions to improve efficiency and safety are being developed. Funding a tow truck enables businesses to keep up with the most recent innovations and equipment, which can provide them a competitive advantage in their sector.

Types of commercial trucks

In addition to comprehending tow truck finance, it is essential to be familiar with the many types of tow trucks available in the market. Below are the most frequent tow truck types

Flatbed tow trucks

Flat beds are the most prevalent tow truck type in the industry. In the back of the vehicle is a flat, open bed that can be lowered to the ground. The towed car is either driven or hauled onto the bed and fastened. Tow trucks with flatbeds are perfect for towing automobiles, vans, and compact trucks.

Wheel lift tow trucks

These are similar to flatbed tow trucks, except instead of a flat platform, they include a hydraulic lift that lifts the vehicle’s front or rear wheels off the ground. After attaching the lift to the wheels, the vehicle is pulled behind the truck. Tow trucks with wheel lifts are appropriate for hauling automobiles with front- or rear-wheel drive.

Recovery tow trucks

Recovery tow trucks are designed to recover vehicles that have been involved in accidents or gotten stranded on tough terrain. They have a boom with a winch and can be outfitted with additional equipment such as airbags, winches, and cranes to assist in the recovery of automobiles in challenging situations.

Popular Tow Truck Models

1. Dodge Ram 5500

Meet the pickup with enough capability to get any job done – the Dodge Ram 5500. With highlights like:

Best-in-class 35,150 lb max diesel towing to pull the biggest loads
Class-leading 12,550 lb max gas payload rating
Available potent Cummins turbo diesel with 1,000 lb-ft of torque

The Ram 5500 rules with maximum strength, performance and durability. Its commercial-grade fully-boxed frame, robust suspension and powerful Cummins engine equip this pickup to conquer the most demanding hauling jobs out there. Whether you need to pull a 20,000 lb fifth wheel trailer or carry 2 tons of cargo in the bed, the Ram 5500 has the muscle to handle it with confidence.

Drivers who rely on their truck day in and day out will appreciate the Ram 5500’s utilitarian design and function. At the same time, modern features like the intuitive Uconnect infotainment system, leather seats and cargo camera make driving this capable workhorse comfortable and convenient. The Ram 5500 is in a class of its own – the heavy-duty hero skilled tradesmen and fleet managers need.

2. Ford F650

Built to tackle any workload, the Ford F650 is the heavy-hauler truck that pulls its own weight and then some. With a powerful .3L 2V DEVCT NA FPI V8 Gas engine delivering 335 horsepower and 468 lb-ft of torque, this truck has the muscle to get the job done.

The Ford TorqShift® HD 6-Speed Automatic transmission offers smooth, efficient shifting while the Mitsubishi Extra Heavy Duty alternator keeps you powered up at 210 amps. Ready for the long haul, the F650 comes equipped with the Ford Oil Maintenance Minder to help track preventative maintenance needs.

If you need a workhorse that will rise to meet every challenge, the Ford F650 has the brute force and brains to take your business where it needs to go.

3. International (MV Series) Tow Truck

When heavy duty towing and recovery demand the best, unleash the raw power of the International MV Tow Truck. This heavy hauler combines high-torque diesel engines, robust transmissions and versatile chassis configurations to conquer tough jobs.

Powerful Cummins B6.7 or L9 turbo diesel up to 350 HP
Automatic, automated manual, and manual transmissions
Extended and crew cab options give you more room
Up to 54,600 lbs GVWR and 6×4 axles for max capacity
Rugged frame accommodates wrecker bodies and equipment

With an International MV Tow Truck in your fleet, no job is too difficult. The custom chassis and spacious cab provide ultimate capability and comfort to improve productivity all shift long. When failure is not an option, trust the MV series to deliver results. It’s built for the demands of heavy towing and recovery professionals who know quality matters.