How to Lease a Box Truck with Bad Credit

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Leasing a box truck can be a great option for businesses that need to transport goods or equipment. However, if you have bad credit, you may be worried that you won’t be able to get approved for a lease. The good news is that it’s still possible to lease a box truck with bad credit. In this article, we’ll go over some tips on how to do so.

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Know Your Credit Score

The first step in leasing a box truck with bad credit is to know your credit score. This will give you an idea of where you stand and what kind of lease terms you can expect. You can get a free copy of your credit report from each of the three major credit bureaus once a year.

Shop Around

When looking for a box truck lease, it’s important to shop around. Don’t just go with the first company you find. Look at several different companies and compare their lease terms. This will give you a better idea of what’s available and what you can afford.

Consider a Co-Signer

If your credit is really bad, you may need a co-signer to help you get approved for a box truck lease. A co-signer is someone who agrees to be responsible for the lease payments if you can’t make them. This can be a family member or friend who has good credit.

Look for Lease-to-Own Options

Another option to consider is a lease-to-own program. This type of lease allows you to make payments towards owning the box truck at the end of the lease term. While these leases may have higher monthly payments, they can be a good option for those with bad credit who want to own a box truck.

Ask About In-House Financing

Some box truck leasing companies offer in-house financing for those with bad credit. This means that the company will finance the lease themselves, rather than going through a third-party lender. While this can be a more expensive option, it can be a good choice if you have been turned down by other lenders.

Be Prepared to Put Down a Larger Down Payment

If you have bad credit, you may be required to put down a larger down payment when leasing a box truck. This shows the leasing company that you are serious about making the lease payments and can help you get approved for the lease.

Don’t Give Up

Finally, don’t give up if you are turned down for a box truck lease. Keep looking for other leasing companies and explore all of your options. With persistence, you will be able to find a lease that works for you.