When it comes to securing financing for a gooseneck trailer or any other type of construction equipment, you can do a few key things to make the process easier. A gooseneck trailer is an essential part of any construction business, so it’s important to have the right financing in place to purchase one. However, given the size of this equipment, it can no doubt get quite expensive. This blog will share some tips for securing gooseneck trailer financing, even with bad credit.
What Is a Gooseneck Trailer?
A gooseneck trailer is a type of flatbed trailer that is typically used to haul construction equipment or other large loads. They are called “gooseneck” trailers because of the unique hitch design that allows them to be attached to the bed of a pickup truck. This hitch gives the gooseneck trailer more stability and control when hauling large loads.
How Much Does a Gooseneck Trailer Cost?
The cost of a gooseneck trailer can vary depending on the size and features you need. However, you can expect to pay anywhere from $5,000 to $17,000 for a new gooseneck unit.
To give you an idea of pricing, here are the cost ranges for some of the top gooseneck trailer brands:
- Pro-Line: $5,395 – $13,995
- Lamar: $5,695 – $12,995
- PJ: $6,195 – $14,495
- MaxxD: $6,895 – $15,195
- Load Trail: $7,195 – $16,095
Factors that can affect the price of a gooseneck trailer include:
- The size of the unit
- The type of bed (aluminum, steel, wood)
- The number of axles
- The type of hitch (bumper pull, gooseneck)
- Additional features (ramps, winches, toolboxes, etc.)
Other options for acquiring this piece of equipment are renting and leasing. The advantage of renting is that you don’t have to worry about the long-term costs associated with owning a gooseneck trailer. The disadvantage is that you won’t have the trailer available when you need it most.
Leasing is another option that can be beneficial for business owners who don’t want to deal with the hassle of ownership. The biggest advantage of leasing is that it can be a more affordable option in the long run. However, the disadvantage is that you may not have the flexibility to make changes or modifications to the trailer.
As you can see, the cost of a gooseneck trailer can take a toll on your finances if you’re not prepared. This is why securing the right heavy equipment financing is so important. Financial brokers like Charter Capital can help you get the best financing options available so that you can purchase the gooseneck trailer you need without breaking the bank.
5 Tips For Financing a Gooseneck Trailer With Bad Credit
Can you get gooseneck trailer financing even if you have bad credit? The answer is YES, but it may not be as easy as someone with good credit. Here are some tips to help you get the financing you need:
- Get a cosigner: One of the best ways to get approved for gooseneck trailer financing is to have a cosigner with good credit. This will increase your chances of getting approved and can help you get a lower interest rate.
- Get a cosigner release: Once you’ve made timely payments on your gooseneck trailer for 12 to 24 months, you may be able to get a cosigner release. This means that your cosigner will no longer be legally responsible for the loan, and their credit will not be affected if you default.
- Get a cosigner with collateral: If you have bad credit, you may also want to consider getting a cosigner who is willing to put up collateral, such as a home or car. This will further increase your chances of getting approved and can also help you get a lower interest rate.
- Shop around: Don’t just settle for the first loan offer you get. Be sure to shop around and compare rates from multiple lenders. You may be surprised at the difference in rates and terms that you qualify for.
- Consider a niche lender: There are many lenders who specialize in gooseneck trailer financing. These lenders may be more willing to work with you even if you have bad credit.
Having bad credit is not a deterrent to getting the equipment that your business needs. By following these tips, you can increase your chances of getting approved for gooseneck trailer financing, even with bad credit. Just be sure to shop around and compare rates before you commit to a loan.
Secure Gooseneck Trailer Financing Through Charter Capital
If you’re in need of gooseneck trailer financing, look no further than Charter Capital. We are a leading financial broker that specializes in equipment financing. We work with a wide variety of lenders, so we can help you get the best equipment financing options available, even if you have bad credit.
Charter Capital is a family-run business that has been helping companies of any size for over 40 years. We understand that each business is unique, so we take the time to get to know you and your needs. We’ll work with you one-on-one to find the best financing solution for your gooseneck trailer purchase.
For more information about our gooseneck trailer financing options, contact us today.