Sometimes the word used can have a negative connotation. People think it means old, dubious or unsafe. However, when faced with a cash shortage, FedEx used trucks can be a business saver.
With new FedEx trucks costing $50,000-$80,000, a FedEx used truck for less than $40,000 is quite a bargain. But first, you need to know where and how to get financing.
What Are the Benefits of Purchasing FedEx Used Trucks Instead of Buying a New One
When you are a FedEx independent contractor, you must be focused on issues like inventory, employee relations and route management. Then there is also truck maintenance and purchasing. If your business is growing or you are having frequent breakdowns, it’s time to buy more FedEx trucks. Deciding whether you should purchase new or used trucks will have a significant effect on your business.
You may have to give up more than $700 a week to lease a FedEx truck. While this may represent a quick solution to an immediate problem and reduce downtime, most FedEx contractors cannot maintain these payments in the long term.
Also, you might discover that it’s difficult to find new trucks that are ready. They may have to be retrofitted, redesigned and ready to be delivered to you quickly. There could also be tax advantages and savings to be made by purchasing.
Does Anyone Offer Financing for FedEx Used Trucks
Over the last five years, Financing Solutions (www.financingsolutionsnow.com) has been the largest provider of financing for existing FedEx contractor businesses. Often, this financing is used for the purchase of used FedEx trucks that cannot be financed the traditional way.
The process is simple. Existing FedEx contractor companies contact Financing Solutions to put a line of credit in place. After filing out a simple 2 minute application on line you will receive a decision in a few hours or less and once approved, we can have your line in place in about 48 hours.
This financing can help with truck repairs, purchasing of used trucks or other unexpected expenses. The value of Financing Solutions line of credit is that it costs nothing to put in place and you are only charged when you use the line. Therefore, it makes the line an excellent backup plan for when you are facing a cash shortage. It makes sense for every FedEx ground contractor to have a line of credit, just in case.
What You Need to Know about Purchasing FedEx Used Trucks
- You can’t purchase just any used truck, slap the logo on the side and use it for your business. The FedEx parent company has specific rules for the use of cargo vans, tractor trailers and straight trucks.
- You need to understand factors like plates and permits. For example, while FedEx supplies permits that allow the truck to operate in the U.S. and Canada, base plates are typically the responsibility of the FedEx owner operator.
- You can get financing for FedEx used trucks from Financing Solutions. If you are considering purchasing a route or used truck, give them a call first to arrange the right amount of FedEx funding.
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.