Frequently Asked Questions
What is your minimum credit score?
We don’t have one. At Capital Solutions we work with people with less than perfect credit so we expect a low score. Our approvals are based on equity in the form additional collateral or large down payments
What is your “turnaround time”?
From application to funding a typical deal takes about a week. Deals backed by real estate average two to three weeks. In short, we can go as fast as you can (in most cases)
What age of trucks do you work with?
Depends on the equity (additional collateral/money down). Typically we prefer trucks that are 2002 or newer. That can go up or down depending on the truck. Dump trucks, car haulers, and some other types of trucks can be older. Want to run something by us give us a call.
Can I buy from a private party?
Yes, you can purchase the truck from anywhere. We don’t sell trucks so you won’t be tied down to our inventory. You also don’t need to have a truck picked out in order to apply. Most people will come to us to get prequalified so they know how much truck they can purchase.
Can I pay this off early?
Yes, we allow for an early payoff without a penalty after nine months. You are also allowed to make larger payments each month, which you can do from the beginning. This way you can pay off the loan quicker and avoid some of the financing cost.
What’s the interest rate?
We write these up as lease purchases so there isn’t an interest rate. We do this so you can expense the entire payment off your tax returns each month. In most cases this is the preferred accounting method when purchasing income generating assets.
Can I buy a truck from one dealer and a trailer from another?
Yes, we can cut two checks at time of funding to pay each seller. The transaction would still be approved under one deal so you would still only have to make one payment per month.