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Re: Seeking "good" Advice On Financing Bucket Truc


Credit score is low for financing or leasing to be honest with you. At a minimum, you need to have a score of about 689 or higher for any chance of approval for any of the companies you've listed or any bank or lender. Also for financing, you need to show a consistent profit of at least 3-6 months of bank records or 1-2 years of good tax returns.

Altec Global has the best rates if you're trying to lease specifically a cable placer, but last heard they have none available. Nesco (which is now merged with Custom One Source) is probably the most expensive, and I can tell you now that they have no availability either. Another thing to consider is that for most rentals (and especially for the ones you listed), you'll need an inland marine, and add them to your commercial auto, workers comp, and general liability with an umbrella excess of up to $5mil for some companies. That all can get expensive when you add your rental rate of $3-5k a month. 

My advice to you would be to try and find a rental company that doesn't require a credit check. If you can't, then your best bet would be to try to work on your credit and build business credit. There's a lot of recourses online that can help you achieve this and take the right steps. In your position, it's not impossible but it may require more time and work to build yourself up to an approval. 

This is CABL.com posting #386861. Tiny Link: cabl.co/mbMNR
Posted in reply to: Seeking "good" Advice On Financing Bucket Truc by jaypaul101685
There are 3 replies to this message
Re: Seeking "good" Advice On Financing Bucket Truc jaypaul101685 12/10/2021 4:24:23 PM
Re: Seeking "good" Advice On Financing Bucket Truc jaypaul101685 12/10/2021 4:23:54 PM
Re: Seeking "good" Advice On Financing Bucket Truc jaypaul101685 12/10/2021 4:23:21 PM