Frequently Asked Questions
Q. Rent to buy – What does it mean to “rent to buy” a commercial truck?
A. Our rent-to-buy program provides the commercial truck as rental equipment with the option to purchase after 1 year at fair market value. For over 20 years, this program has allowed transport companies to own their truck without the need for good credit or finance-ability.
Q. What is approval fee for?
A. The approval fee is the first step to qualify for the rent to buy program. A program specialist will get you qualified in less than an hour. Once you are approved,you will be passed on to a truck specialist who finds the truck to meet your needs and wallet.
Q. Do I have to have insurance before leaving with the truck?
A. Yes. Our compliance team will assist you in making sure you have the correct coverage upon closing.
Q. Do we run your MVR?
A. Yes, your MVR must be ran before leaving in the truck.
Q. Can I have my own authority?
A. Yes. If you have your own authority we need proof of liability insurance and DOT filing needs to be active and current.
Q. Why do we ask for motor carriers EIN #? (tax id)
A. This is required by state law for registration purposes in order to verify that the company you are working for meets the federal guidelines.
Q. What forms of payment do we take for downs?
A. Cash, cashiers check, and bank wire.
Q. When do payments start?
A. Payments start immediately after closing unless indicated differently in contract.
Q. Can I pay monthly?
A. Yes, as long as you pay in advance. If you do not, late fees will be applied.
Q. Can I pay off the truck early?
A. Truck can be bought out after the first year or continue in program until end of contract term.
Q. Do my rental payments go toward the buyout of the truck?
A. The first year it is rental status only.
Payments begin to be applied to cost of truck after renter has been in truck for over 1 year.