• Is there a cost to apply? There is no cost to apply.
• What is needed to apply? The Customer will need a minimum 30% deposit, an application, reasonable debt to income ratios & credit, a Guarantor, and an approximate price of the food truck the Customer wants.
• How hard is it to qualify? It is much easier and faster than applying for financing. One of the key factors is having the needed deposit then we will look over the application and other qualifying information.
• How much of a deposit does the Lease to Own Program require? It will depend on the application and qualifications but in general most need a minimum of 30%.
• Is a Guarantor needed? In most cases yes. For cases when it is a larger deposit and great qualifications then a Guarantor will not be required.
• Can someone without credit qualify? It is possible as we will also be looking at other sources of payment history even if not on the credit report.
• How much are the monthly payments? It will mostly depend on the price of the food truck, size of deposit, and number of years for lease. Once we have this information, a quote can be provided right away.
• If the monthly payment is too high, can it be lowered? Yes, if the Customer does a larger deposit or select a longer term the monthly payment can be lowered.
• How long is the lease for? The Customer will have the option of 1 through 6 years. The monthly lease payments are higher for shorter terms and lower for longer terms (Options can be seen below).