Jump to content
  • Join the TowForce community.

    It looks like you're not logged in. Register to get started and to receive Tower Down Notices.

Struggling to Determine the Right Time to Buy a Tow Truck? Watch the Video

Recommended Posts

  • Platinum Sponsor

Knowing when to upgrade your tow truck isn’t easy. Let’s be honest: with the uncertainty revolving around today’s economy, you might not know where to begin. Beacon Funding has been providing equipment financing services across the nation since 1990. To help towing and recovery businesses navigate this difficult time, we’ve created a video guide to evaluate purchases post-pandemic.

Your Truck Is Your Lifeline

Unreliable equipment means losing opportunities and business revenue to your competitors. How do you begin considering what equipment you’ll need, while also navigating how to purchase it?

Watch the video to learn how to determine if your business’ capacity to take on new equipment.

Budgeting Tools

While we may be in a buyer’s market, the decision to acquire new equipment should come down to your own business’ need and ability to take on another truck. Fortunately, there are tools like a breakeven calculator and a financing pre-approval to help you better visualize what you can afford.

Breakeven Calculator

Using a breakeven calculator will determine how many tows per month, your business needs to perform to afford a monthly truck financing payment. A useful breakeven calculator will also allow you to customize the revenue per tows to customize the results to your business.

Analyzing the Results

When you use it, the goal shouldn’t just be to breakeven with your equipment. Factor in your other business expenses like fuel, insurance, marketing, repairs, staffing, etc. to get a realistic idea of if a truck fits into your budget.

You can try the breakeven calculator for yourself here.

Financing Pre-approval

A pre-approval is a simple financing plan that allows you to budget and plan for new equipment. By applying for a pre-approval, you can find the terms of a potential financing plan without any commitment. Pre-approvals let you see details of a possible payment plan that a simple quote wouldn’t offer.

The best thing is that they are in no way binding. When you apply for an equipment financing pre-approval, you aren’t entering into a legal agreement. They are a commitment-free way to determine how much you can afford to spend on your next equipment purchase. Applying for a pre-approval isn’t a trick to get you locked into a financing agreement; it will help you plan and budget.

You can learn more about pre-approvals here.

We're Here to Help

By considering your business’ demand, staffing needs, and your financial position, you’re well on your way to understanding if now is the right time for you to take advantage of the current buyer’s market. However, you don't have to go it alone. Call 847.897.2499 to talk with a tow truck financing expert and explore the options available to your business.

  • Like 1

Don Seeley
Equipment Financing Consultant
847.897.1761 | dseeley@beaconfunding.com
Beacon Funding

Apply Online

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Unfortunately, your content contains terms that we do not allow. Please edit your content to remove the highlighted words below.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...
Please Sign In or Sign Up