Sample of All FAQs (Helpie FAQ)
Helpie FAQ
- What information do you need for the Credit Application?
It is best to be as transparent as possible when filling out our Credit Application. The more you disclose about your personal lending and financing history, the better we can help you with your financing options. Complete the form to the best of your ability and fill out all applicable information.
Information you may need provide include: Identification, Income, Credit History, Employment, Collateral/Equity and more. Read an in-depth explanation as to what specific type of information you may need to provide and why. - How much of a down payment is required?
The amount of money you put down is based on multiple factors: credit history, lender requirements, and the vehicle being finances. If you are a first-time borrower, you may need to put down a minimum of 20%.
- How long is the loan application process?
The duration of getting your credit approval and loan rates can take anywhere from 30 to 90 days. Credit approvals typically come within 1 to 4 business days. You may need to provide information such as bank statements, tax returns, and other financial documentation. The sooner all of the requirements are submitted and met, the quicker the decision is to be made.
- What credit score do you need to qualify for a Commercial Vehicle Loan?
The credit score required to qualify for a commercial vehicle can vary depending on the lender and specific terms of the loan. Some general guidelines can be found in our Credit blog.
For additional information about financing with Coopersburg & Liberty Kenworth, contact our Finance Manager, Jeff Saul. - Do I need a CDL for a Commercial Loan?
Yes, most drivers do need a Commercial Driver’s License (CDL) in order to begin the process of securing a commercial vehicle loan. Learn how to get your CDL with these steps.
- Why should I finance as opposed to paying cash?
Financing instead of paying cash helps establish credit. By making regular payments, you can strengthen your business credit and improve your chances of securing future financing. Learn how to build your credit with our financing tips.
- Do you have a history in financing commercial vehicles?
Having a history in financing a commercial vehicle can make it easier to secure a commercial vehicle loan compared to first-time buyers. Lenders prefer to see a positive, solid borrowing history. The ideal scenario is being a borrower who has successfully held and paid off a commercial vehicle loan for at least 3 years. For first-time or less experienced borrowers, lenders may require a larger down payment amount. Learn more information about how to build your fleet as a first-time borrower.
- Simple FAQ
Simple FAQ Content
- Simple FAQ - 2
Simple FAQ Content – 2
- What trucks do you finance at your dealerships?
We finance all new and used years, makes, and models of trucks on our lots and incoming inventory.