How Does Tow Truck Financing Work? [Low Monthly Payments]

When you need a tow truck fast and need your cash, that’s where equipment financing shines.

By Heath Martell| Nov 23, 2022| 1931 Views

Your time is your most valuable resource as a tow truck company. It pays to get jobs done right and fast. The more calls you answer, the quicker you increase your revenue! When a truck breaking down can bring your business to a halt, it’s important to have a plan to keep operating.

While it's impossible to predict when you will need to replace or add trucks to your fleet, you can depend on Beacon Funding for the financing you need. Read on to discover how fast, easy, and affordable the tow truck financing process can be.

Shift your business into higher gear with tow truck financing

Whether you’re looking to increase your service radius or upgrade to a more dependable model, tow truck financing makes it easy to drive your business forward.

Financing allows you to spread out your truck’s purchasing cost into low monthly payments, conserve your liquidity, and get the truck you need into your fleet quickly.

In this article…

  1. How To Conserve Your Cash and Let Your Next Tow Truck Pay for Itself
  2. Benefits of Financing Your Tow Truck
  3. Estimate Your Next Truck's Low Monthly Payment
  4. Finance Your Next Tow Truck with Beacon Funding

How To Conserve Your Cash and Let Your Next Tow Truck Pay For Itself

When it comes to purchasing your next tow truck, you have choices. A large cash payment may seem convenient, but tow trucks can be pricey. Prices for a new rollback can cost anywhere between $90,000 - $150,000 – that’s a lot in one purchase.

Unlike paying cash, tow truck financing allows you to grow your fleet while conserving your savings.

Your business may need savings for:

  • Emergencies: You don't know when the next truck breakdown or business expense will pop up.
  • Payroll: Your employees need to get paid for their hard work.
  • Saying yes to more opportunities: There's always opportunities around new corners... are you ready for them?

Benefits of Financing Your Tow Truck

There are several advantages to using financing instead of paying cash.

Not only can you conserve your liquidity, you’ll also be able to:

  • Qualify for a tax write-off by acquiring equipment.
  • Establish business credit while protecting your personal assets.
  • Lower the upfront cost of your next tow truck.

Even if you already own a tow truck, you may need another in the future.

Financing a truck allows you to:

  • Expand your towing radius.
  • Add more hauling power to your fleet.
  • Maintain your business while other trucks are being repaired.

In general, adding a tow truck to your fleet not only means saying yes to more customers, but you can also accelerate your bottom line.

Estimate Your Next Truck’s Low Monthly Payment

When you decide to finance your next truck, we understand affordability is important. That’s why we’ve built an 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 tow truck financing estimate anywhere. You can even do it over your next tow! See how easy it is to calculate and even apply from one convenient tool.

With three powerful calculators at your fingertips, you can:

  • Get a readout of your monthly payment.
  • See how much equipment financing will save you on your next tax return.
  • Determine how much revenue you need to earn to breakeven on your monthly payment.

Finance Your Next Tow Truck with Beacon Funding

Since 1990, we’ve been helping companies of every size get the tow truck they need to grow their fleet fast and rev in more revenue. We’ve financed over $1 billion in equipment, providing quality customer service to tow truck companies of every size.

Yes, even for start-ups.

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

Take the first step towards financing your next tow truck today and see why thousands of towing companies chose us to help them keep more cash in their hands, get the truck they need, while earning revenue to growing their dream towing business.

Heath Martell
Heath Martell

P: 312-837-0605 |  ESchedule a Meeting with Me

A University of Maine graduate, Heath Martell helps hundreds of towing companies realize their growth potential every year.