When running a company, you may need to purchase one or more vehicles for your activity. Whether it's a car, a truck, a trailer or a motorcycle, buying a vehicle is an important investment.
When it’s about running your company and staying safe, you have to think about the options in financing your vehicle.
> Pay upfront: It’s a solution, but not the best except if you need to spend some cash. Otherwise, it’s hard to pay for a vehicle upfront without creating cash flow problems.
> Rent / Long term renting: This could be a good solution if you don’t need to be the owner of the vehicle. If you rent it, the vehicle is not one of the company's assets.
> Business vehicle loan: This is a good solution if you want to manage your cash flow and have fixed monthly payment.
Business vehicle loans are standard term loans, easy to understand, with a fixed rate, a clear table of amortization and monthly payments. The vehicle can be used as collateral if requested by the lender.
You can use our business loan calculator to simulate your vehicle financing. The loan calculator will help you understand your payments and the cost of your business loan.
With our online partners, you can have an answer for your business vehicle loan request in less than 24 hours and get your money in 72 hours.
Comparelend helps you find the best lenders and offers for your commercial vehicle financing.
The cost of your car loan is defined by your loan's interest rate, the duration, the amount and the fees charged by the lender.
You can use our loan calculator to define the total cost of your vehicle financing.
> Dealer invoice with purchase price
> Business Income tax returns
> Business Financial Statements (Balance sheet, income statement, cash-flow, bank statements)
> Legal Documents (business licenses etc.)
> Car insurance information
Online lenders offer you the flexibility that your company needs. The process is online, so you can do it any day, any time. Here are the advantages:
> Faster loan – It only take 10 minutes to complete your business loan request
> Competitive pricing – Online lenders have very competitive rates and fees
> Transparency – Complete clarity concerning the loan. Update on status of the loan application at each stage.
If you own a small business, you probably know how complicated it is to get a business loan through traditional circuits. Through peer to peer lending however, some barrier to entry are suppressed. First of all, the requirements are lower investors being open to risk taking, and so securing a loan is easier, faster and cheaper. The process being entirely on line and very user friendly, it takes not more than 20 minutes to register on the platform, approximatively 48 hours to get accepted, and up to 3 weeks to receive the money. The interest rates are lower and usually no hidden fees added. Moreover, the online investors are welcoming for new borrowers as they are rather eager to support business owners, often locally.
CompareLend.com offers business owners a free, unbiased and immediate access to investors on peer-to-peer platforms. It helps business owners to choose the best financing opportunity from what the market has to offer. Getting financed is then easier, cheaper and faster.