Term Loans: Traditional loans where the borrower receives a lump sum and repays it over a fixed period with interest.
Equipment Financing: Specifically tailored for purchasing trucks and trailers, with the vehicle itself serving as collateral.
SBA Loans: Small Business Administration loans may offer favorable terms for eligible businesses, including those in the transportation industry.
Operating Lease: Similar to renting, where the lessee pays to use the truck or trailer for a specified period. At the end of the lease, the vehicle is typically returned unless there's a buyout option.
Finance Lease: Structured like a loan but with lower monthly payments. The lessee may have the option to buy the vehicle at the end of the lease term for its residual value.