Company offering trailer loans

[Raymond01]

Hi,

Does anyone know this company offering trailer loans in London? I am a professional in the transportation industry and I want to buy a dry van in the coming month.

I have been working mainly for the medical industry and want to buy a 53 Air Ride Refrigerated Van. I am planning to take a loan for the same and in my search, I came across some companies. I want to know the formalities to be followed to get approved for a loan and the best companies offering loans at a reasonable rate.

If anyone has any experience with any of the companies in Ontario, kindly let me know the details at the earliest. Thanks in advance.

 

[mddorange]

:welcome:
TO the TBN forum. We are glad that you joined.

I can't help with that but I am sure there are people on here who can.

 

[frugalangler]

From what I can tell from their site, they are a 'broker' not a 'lender', and if such is the case, they will take a cut somehow to pay their costs/profits. If you are not able to search for lenders on your own, or it's significantly different in Canada than the US, this may be acceptable, but going directly to the lender (bank, S&L, credit union, etc) would likely be lest costly in the long term.
Now, if you're financing a piece of equipment that is difficult to get financing for (some lenders are not familiar with heavy equipment lending) then using a broker may be the best choice. It just wouldn't be my first choice.

Good luck with your endeavors, I hope it works for you.