How To Afford A Boom Truck in 2023

When you need to purchase a boom truck, you have an affordable alternative to paying cash.

By Tom Rahlfs, CLFP| Dec 16, 2022| 1327 Views

Boom trucks aren’t cheap in 2023. It takes a lot of upfront cash to buy one even at the right price. Not to mention, saving up enough cash costs invaluable time and spending a large sum of cash can leave a huge hole in your balance sheet.

Fortunately, you have options on affordable ways to buy your next boom truck this year. There’s a wiser choice that’s quicker and easier than paying cash.

Save Time and Conserve Your Cash With Boom Truck Financing

If your goal is to expand your fleet this year, boom truck financing is a solution. It is a fast and affordable alternative to spending cash. At the same time, it offers benefits for your business.

Boom truck financing spreads out your expensive equipment purchase into low monthly payments. This allows you to get your hands on the latest truck model fast, conserve your business’s liquidity, and expand your fleet in one swift move. And with another truck working for you, that means your business can generate even more revenue.

With the help of an A+ rated lender like Beacon Funding, chances are good you can get approved between 24-48 hours for boom truck financing – even if you’re a start-up.

In this article…

  1. The Advantages of Boom Truck Financing
  2. How Boom Truck Financing Helps Your Business
  3. Estimate Your Next Truck Purchase's Low Monthly Payment
  4. Finance Your Next Boom Truck with Beacon Funding

The Advantages of Boom Truck Financing

There are several advantages to financing your next tow truck instead of paying cash. Not only can you conserve your cash, you’ll also be able to:

  • Lower purchase cost.
  • Establish business credit and protect your personal assets.
  • Qualify for a major tax deduction by acquiring equipment.

Financing a truck allows your business to:

  • Expand your business radius.
  • Add more hauling power to your fleet.
  • Have cash on hand for unexpected expenses like repairs, accidents, etc.

In general, adding a boom truck to your fleet not only means saying yes to more customers, but also accelerates your bottom line.

Boom truck drives down a highway with a mountainous landscape in the background.

How Boom Truck Financing Helps Your Business

A large cash payment may seem convenient, but boom trucks are pricey. Prices for a new boom truck can cost anywhere between $30,000 - $150,000.

Unlike paying cash, boom truck financing allows you to conserve your cash for when you need it.

Your business may need savings for:

  • Emergencies. You don’t know when a truck repair or business expense will pop up.
  • Payroll. Your employees need to get paid for their hard work.
  • Saying yes to growth opportunities. There might be a new opportunity to expand your business in 2023… are you ready for it?

Best part about equipment financing? You can get pre-approved for your next truck purchase before you start shopping. There is no risk, no commitment to getting pre-approved.


Calculate Your Low Monthly Payment

When you decide to finance your next truck, we understand affordability is important. That’s why we’ve built a free Equipment Financing Calculator mobile app to help you know which truck is right for your budget.

With Beacon Funding’s mobile app, you can calculate a boom truck financing estimate anywhere, even on the road! See how easy it is to calculate and even apply from one convenient tool.

With three powerful calculators at your fingertips, you can:

  • Estimate your low monthly payment.
  • Calculate your tax deduction on your financed equipment.
  • Determine how much revenue you need to earn to breakeven on your monthly payment.


Finance Your Next Boom Truck with Beacon Funding

Since 1990, we’ve been helping companies of every size get the commercial trucks they need to grow their fleet faster and help them conserve their cash. We’ve financed over $1 billion in equipment, providing quality customer service to septic companies of every size.

Apply for boom truck financing today and see why thousands of businesses chose us to help them keep more cash in their hands, get the equipment they need, while earning revenue to meet their bottom lines.

As an A+ rated Better Business Bureau lender, our experienced financing consultants can have you with a truck that’s right for you in no time.

Tom Rahlfs, CLFP
Tom Rahlfs, CLFP

P: 847.796.8250 |  ESchedule a Meeting with Me

As a Senior Financing Consultant, Tom works with business owners to help them grow their operations using equipment financing options tailored to their situation.