Used FedEx Truck Financing Being Done Through Financing Solutions
Fedex owner-operators are smart and resourceful. They often found creative financing options to buy their fedex home delivery company however financing a new or used Fedex truck maybe a bit tricker.
Many Fedex Route Independent Contractors are now buying used fedex delivery trucks or putting down payments on new trucks with the help of a Line of Credit from Financing Solutions. Financing Solutions Fedex ISP Line of Credit is also a perfect back up plan for when cash flow is down and other emergencies unexpectantly come up. The FS Credit Line costs nothing to set up, is easy to get in place, and is inexpensive when used.
Buying used trucks is often a problem because many companies will not provide financing whereas when buying new trucks, you are often required to put a 20% down payment.
Financing Solutions Fedex Ground Contractors Line of Credit Program
Financing Solutions Fedex Ground Contractors Line of Credit Program is a preapproved amount of money that you have access to at any time. You must be an existing Fedex Service Provider (ISP) to qualify.
Many Fedex Ground Contractors and linehaul trucking companies are using their credit line for financing commercial vehicles like step vans, cargo vans, fedex trucks, box trucks, straight trucks and other fedex vehicles.
Unlike a Bank Line of Credit, Financing Solutions Credit line requires no collateral and no personal guarantees.
Many Fedex ISP’s are also using their FS credit line for emergencies like truck repairs, hiring new employees during peak season, purchasing new required equipment, down payments on new ground routes, and even person expenses that require the owner to take some of their capital out of the business.
Line of Credit Costs
The FS Line of Credit costs nothing to set up and nothing until used. When the credit line is used it is inexpensive because it can be paid back at any time. Many Fedex ISP’s use their line for a short period of time. While others may not even use their credit line at all but have it, just in case. The key question to ask yourself is if you need an influx of cash where would it come from and how quickly/easy could you get it? The FS credit line is a great cash back up plan.
Easy to Get in Place
The credit application process for a Financing Solutions small business line of credit takes 2-minutes to fill out and is emailed back to you the same day. There is no obligation to move forward. The application is online and there is no credit check run for an offer letter.
After reviewing the offer letter, if you wish to move forward we will ask for a recent tax return and 4 recent bank statements. It is hassle-free to set up. If everything is in order, we will set up your line of credit in 48-72 hours. You will have access to our customer secure portal where you can request funds, see balances, and request payoff amounts. Fund requests can be wired same day and can be paid back at any time.
The Pros and Cons of Buying a Used FedEx Van/Truck
When you find yourself in need of a new FedEx van/truck, it can be either a happy or stressful occasion. If the need stems from business growth, that’s a good thing. On the other hand, if one or more of your trucks is in disrepair, this can be a traumatic time.
Some of your most important concerns will be where you should the truck, whether it should be new or used, and how you will pay for it. For some FedEx contractors, that means purchasing a used FedEx van/truck.
Purchasing a used FedEx van/truck can cost between $20,000-$40,000. This is a bargain when you compare that to the $50,000-$120,000 price tag for a new vehicle.
While you may find it hard to get an accurate maintenance history and warranty, there are numerous other advantages of a used FedEx van/truck.
Why Financing Solutions is the Best Choice for FedEx Van/Truck Financing
Often times existing FedEx ground contractors are looking to buy used vans or trucks but can’t find financing. These days, existing FedEx contractors are using a line of credit product from Financing Solutions to not only finance used vans or trucks but to address short term expenses like tires, maintenance and other everyday expenditures.
At Financing Solutions, they work with FedEx contractors and small business owners all the time. Therefore, they understand that when it comes to needing a new or used FedEx van/truck, time is of the essence. As a result, they offer a fast and easy application process and quick funding decisions.
With the line of credit, you can take advantage of opportunities to purchase additional routes or hire more drivers. Whether you need financing for uniforms, FedEx van/truck issues or making payroll, they can help you handle all your needs.
The Challenges of Being a FedEx Contractor
Many people may believe that it’s easy being a FedEx owner-operator. Those in the field know that this is far from true.
For example, they may think that you don’t have to go the extra mile to satisfy your customers because the parent company provides them. On the contrary, if the customers on your routes are not happy with your service, they can easily switch to a different delivery company. No customers mean a smaller route and you lose money. Instead, get in the habit of giving customers a choice of where you leave their packages. Also, become active in the communities you serve.
It’s also important to make sure your drivers are safe on the road. Traffic, weather and construction can wreak havoc on even the most organized schedule. Invest in the tools and technology to make it easier for your staff to be most effective.
Financing Solutions LLC is not endorsed by and is not recommended by Federal Express Corporation and Fedex Ground. Financing Solutions LLC is not sponsored by, is not approved by, is not associated with, and has no connection whatsoever with Federal Express Corporation or Fedex Ground.