QUESTIONS TO ASK
WHEN SPEAKING TO A FINANCE COMPANY
Asking questions is always important,,, getting direct answers to those questions is even more important. Unless you have been around the block when it comes to financing equipment.
it’s difficult to know which questions to ask especially if you never financed equipment before.
Here is a list of good questions ask?
Please send me my terms in writing,, well that’s not a question more of statement-lol!
What are the fees associated with this transaction?
1. Admin fee or Doc fee
2. UCC filing fee (if not a titled unit)
3. Title Agency fee (if its title equipment and the vendor is doing the title work)
4. GPS Unit fee (some lenders require a GPS unit to be installed in title equipment, some lenders charge the customer for this, some don’t)
5. Wire fee (some charge for this) Prefunding fee (some will charge, some will not)