Main Options
Traditional Financing with Co-Buyer Support
Secure your new work truck with the added strength of a co-buyer. This option is ideal for small businesses or newer companies building credit. A co-buyer shares responsibility for the loan, which can improve approval odds and help you qualify for more favorable terms.
Personal Guarantor Option for Added Liability Protection
For businesses looking to maintain financing in the company’s name while improving their approval profile, we offer a personal guarantor option. In this structure, the business assumes the loan, and an individual—typically an officer of the corporation—personally guarantees repayment.
Benefits of the Personal Guarantor Option
- Improved Loan Terms: Enhances your creditworthiness by backing the loan with personal credit, often leading to lower rates and better terms.
- Preserves Corporate Structure: Keeps the financing under the business entity, maintaining legal separation between personal and company assets.
- Access to More Capital: Makes it easier for new or growing businesses to get approved, even if business credit is limited.
At newworktrucks.com, we partner with you to structure financing that makes sense—whether you're purchasing your first work truck or scaling your fleet.
Work Truck Financing – Frequently Asked Questions
Who qualifies for traditional financing with a co-buyer?
Businesses of all sizes can apply. A co-buyer is especially helpful if your company is new or has limited credit history. The co-buyer shares loan responsibility and can strengthen the application with their credit.
What is a personal guarantor?
A personal guarantor is an individual—usually an officer of the corporation—who personally guarantees repayment of the business loan if the company is unable to pay. This adds security for lenders and can improve loan terms.
Why use a personal guarantor instead of just applying personally?
Using a guarantor allows you to keep the loan in your company’s name, preserving business credit and maintaining legal separation between personal and business liabilities. It’s a smart option for growing businesses seeking liability protection.
Can I apply if my business is less than a year old?
Yes! We work with startups and newer companies regularly. A co-buyer or personal guarantor can significantly improve your chances of approval.
How long does approval take?
Most financing decisions are made within 1–2 business days, depending on the documentation provided.
TRAC Leasing vs. Traditional Financing
| Feature | Leasing (TRAC) | Traditional Financing |
|---|---|---|
| Ideal For | Small to mid-sized fleets seeking flexibility and minimal capital outlay | Companies with stable cash flow wanting long-term asset control |
| Approval Process | Fast, often based on operational stability rather than credit strength alone | May require stronger credit profile or co-buyer |
| Guarantor/Co-Buyer Options | Not typically required | Co-buyer or personal guarantor can improve approval odds and terms |
| Business Credit Building | Helps maintain off-balance financing strategy | Builds business credit directly through company-owned assets |
| Fleet Scalability | Easy to expand or swap vehicles as business needs change | Scaling may require new financing applications and upfront investment |
| Risk of Over-Repair | Reduced due to newer leased vehicles and structured turnover cycles | Higher if vehicle is held long-term without lifecycle management |
Know more about TRAC Leasing on our page.
Apply for Financing – Get the Work Truck You Need
Fast, Flexible Financing with newworktrucks.com
Take the first step toward owning your next work truck. We make financing simple with flexible options tailored to your business needs.
✔ Traditional Financing with Co-Buyer
✔ Personal Guarantor Options for Added Protection
✔ Fast Approval – Often in 24–48 Hours
✔ Financing Available for Startups and Established Businesses
Inquire About Financing
Ready to Upgrade Your Fleet Without the Overhead?
Let’s find the right lease for your business. Whether you’re a solo operator or managing a growing team, New Work Trucks is ready to support your fleet with smart, affordable leasing options.
