FAQ

WHAT IS THE DIFFERENCE BETWEEN A LEASE AND A LOAN?

Both are ways to acquire the equipment you desire. The main difference between the two is how they are accounted for on your Federal Tax Return. There are benefits to both, and to determine which is better for you will depend on your current financial situation. A lease gives you the option to buy the equipment at the end of the financing period, return it or trade-in the equipment for a different unit and in some cases newer piece of equipment, along with a new finance plan. Payments on a lease are usually 100% tax deductible. (See your Tax consultant/CPA for precise individual Tax advice.)

A loan guarantees the equipment being financed belongs to you at the end of the financing period or if balance if paid in full. Usually a fraction of a loan payment can be applied as a tax deduction..  (See your Tax consultant/CPA for precise individual Tax advice.)

WHAT IF I AM A NEW BUSINESS?

We welcome new businesses. In general, we'll want to see that you are familiar with the industry you are entering, and can offset the normal risk associated with being a new business. If you are able to show proof you have worked in that industry for a couple of years and have back-up money to handle the upfront costs associated with starting a business, then we can definitely help you.

CAN YOU FINANCE OLDER EQUIPMENT?

We have many programs to help you with older equipment. We have in place a NO miles/NO age restriction program for local hauling, and case by case on OTR equipment.

WHAT IF I DON'T HAVE GOOD CREDIT?

We are a full spectrum lender, meaning we can finance 'A' credit as well as 'D' credit. Contact us to speak to a credit specialist regarding your situation. We will do everything possible to find you an approved finance plan for your individual situation.

HOW LONG BEFORE I HEAR BACK ABOUT MY APPLICATION?

We can guarantee a 24 hour turnaround time but usually can get out a 4-6 hour credit response from our office if we receive your application between the hours of 8:00 A.M. to 12:00 P.M. PST. We know time and communication is important to you, so we don't have voicemail during business hours and we strive to provide quick answers, to any questions you may have with a live person.

WHAT IF MY CREDIT IS GOOD, BUT MY SCORE IS UNDER-AVERAGE?

Don't worry because we work outside the box and are not score-driven. Even though scores can influence a credit decision, we use the "Does it Make Sense" Motto: By taking into consideration your time in the industry, the positives of your business, your new goals, and the asset being purchased. Team CRG approves many deals other traditional Finance companies will not. We listen to you because your success is our success.

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