What Is Lease to Own?
Get in the fast lane to food truck ownership! Our Lease-to-Own program provides an efficient solution for customers who may face challenges qualifying for traditional financing or those seeking a swift approval and funding process. You're one step closer to owning your desired food truck hassle-free!
Q&A's About Lease to Own
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).
Sample Lease Payment Options
NOW with 5 & 6-year plans
(6-year option is ONLY available with a 40%+ deposit & on prices of $120,000+)
Large Deposit Plan | 50%
| Total Price | Deposit | 6-Year | 5-Year | 4-Year | 3-Year | 2-Year | 1-Year |
|---|---|---|---|---|---|---|---|
| $80,000 | $40,000 | NA | $1,151 | $1,304 | $1,569 | $2,115 | $3,782 |
| $100,000 | $50,000 | NA | $1,438 | $1,630 | $1,962 | $2,644 | $4,728 |
| $120,000 | $60,000 | $1,580 | $1,726 | $1,956 | $2,354 | $3,172 | $5,674 |
| $140,000 | $70,000 | $1,843 | $2,013 | $2,282 | $2,746 | $3,701 | $6,619 |
Medium Deposit Plan | 40%
| Total Price | Deposit | 6-Year | 5-Year | 4-Year | 3-Year | 2-Year | 1-Year |
|---|---|---|---|---|---|---|---|
| $80,000 | $32,000 | NA | $1,381 | $1,565 | $1,883 | $2,538 | $4,539 |
| $100,000 | $40,000 | NA | $1,726 | $1,956 | $2,354 | $3,172 | $5,674 |
| $120,000 | $48,000 | $1,896 | $2,071 | $2,347 | $2,825 | $3,807 | $6,808 |
| $140,000 | $56,000 | $2,211 | $2,417 | $2,739 | $3,296 | $4,441 | $7,943 |
Small Deposit Plan | 30%
| Total Price | Deposit | 6-Year | 5-Year | 4-Year | 3-Year | 2-Year | 1-Year |
|---|---|---|---|---|---|---|---|
| $80,000 | $24,000 | NA | $1,611 | $1,826 | $2,197 | $2,961 | $5,292 |
| $100,000 | $30,000 | NA | $2,014 | $2,282 | $2,746 | $3,701 | $6,619 |
| $120,000 | $36,000 | NA | $2,417 | $2,739 | $3,296 | $4,441 | $7,943 |
| $140,000 | $42,000 | NA | $2,819 | $3,195 | $3,845 | $5,181 | $9,267 |
Find out if you qualify today!
Take the first step toward owning your dream food truck with our easy application process.