Credit Profile
ABL focuses on two types of customers, Class 8 Truck Drivers (owner operators) and Vocational Truck Drivers (Dump Trucks, Bucket Trucks, Straight Trucks, etc). We finance trucks up to 10 years old. Our A Credit Program Guidelines* are as follows:
|
Class 8 Trucks |
Vocational Trucks |
|||
|
New Owner Operator |
Existing Owner Operator |
New Business |
Existing Business |
|
| Down Payment |
10-20% |
0-10% |
10-20% |
0-10% |
| Credit Score * |
650+ |
640+ |
675+ |
640+ |
| Time in Business |
2 years driving |
2 years as O/O |
0 |
2 years |
| Homeowner |
Yes |
Yes |
Yes |
Yes |
* These are credit guidelines. Strength in some areas can help overcome weakness in other areas. ABL can also fund scores as low as 550 if driver participates in one of our Carrier Programs.
ABL's Structured Lease Program is available to help applicants who may not qualify for conventional financing due to low FICO scores (as low as 525), start up business, bankruptcies, over extended credit, repossessions, slow pay, federal/state tax liens, type and age of equipment.
Structured Lease Program pre-approvals require our Owner Operator Application plus 3 months bank statements. Transactions are typically structured with 20 - 25% down with terms up to 60 months. Applicants must have minimum driving experience of 2 years.