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Our Location
  • 9131 Keele Street A4 Suite 120 Vaughan, Ontario L4K 0G7.
Email
  • info@torontotruckloan.ca
Opening Hours
  • Monday - Friday
  • 09:00 AM - 06:00 PM

If you have any questions or need help, feel free to contact with our team.

416 743 0006

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Reach out and send a message. Our team will get back to you as soon as possible.

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Frequently asked questions

What is lease financing?

Lease financing is a highly prevalent financing solution for businesses seeking to acquire equipment. This option enables the repayment of the equipment cost to be spread over several months, while also offering tax-deductible benefits.

How does lease financing work?

Lease financing is very simple. The purchaser chooses the equipment and the vendor, and fills out a one-page credit application form. A follow-up is conducted within 24 hours, and a final decision is issued shortly thereafter.

What are the advantages of lease financing?

There are five key advantages to leasing equipment

  1. A straightforward and fast financing application and approval process.
  2. Protection of your working capital, as monthly rentals are typically lower than the total cost of the equipment, allowing you to preserve your line of credit.
  3. Preservation of your borrowing capacity from banks, which can be reserved for financing options that only they can provide.
  4. Tax deductibility of your monthly rentals.
  5. Exemption from sales taxes when acquiring equipment.
What factors determine the interest rate for a truck loan?

Interest rates for truck loans are determined by a variety of factors, including your credit score, business revenue, length of time in business, and the type of truck being financed. Generally, the better your credit and the more established your business, the lower your interest rate will be.

Can I get approved for a truck loan if I have bad credit?

Yes, it is possible to get approved for a truck loan with bad credit. However, you may be required to provide a larger down payment or pay a higher interest rate due to the increased risk associated with lending to those with poor credit.

Are there any restrictions on how I can use the funds from a truck loan?

No, the funds from a truck loan can be used for any business-related purpose, including purchasing new or used trucks, financing repairs or upgrades, or covering other business expenses.

How long does the truck financing process typically take?

The truck financing process can vary depending on the lender and your specific situation. Generally, the process can take anywhere from a few days to several weeks. It's important to gather all necessary documents and information beforehand to help speed up the process.

If I have questions, where can I find answers?

With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company as often

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Get the best truck financing deal in Toronto and call us today!
Book an Appointment
  • If you have any questions or need help, feel free to contact with our team.
  • 416 743 0006
  • 9131 Keele Street A4 Suite 120 Vaughan, Ontario L4K 0G7
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Toronto Truck Loan Ltd. is a Toronto-based financial agency that offers loans and equipment leasing solutions to businesses of all sizes
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