For many owner-operators and smaller fleets, working with a trailer dealership on financing can be a stressful and confusing process. How do you know you’re getting the best deal? What kind of credit score do you need to get the payments you can afford? Can you find someone who has the experience and knowledge to find the lenders that are the best fit for you?
At CRTS, we take a thoughtful approach to trailer financing. We believe a dealer should do their homework on behalf of their customers so that you can get the best financing option to fit your needs and goals. Your buying or leasing experience should be as straightforward as possible.
Many dealerships handle financing by turning you over to a finance company and stepping away from the process. They’re often very friendly people, but they aren’t thinking about your financing needs or options. Your credit application could be sent to as many as six or seven separate lenders, in a bulk group email, to see which lender will approve the financing.
That kind of shotgun approach to trailer financing may be efficient for the dealership, but it isn’t good business practice. It’s not helpful to you, either—pulling your credit six or seven times could drop your credit score as much as 30 points in just a few minutes.
Brian Ervin is the in-house finance manager at CRTS. Brian has over 23 years of experience and has been with CRTS since 1999. In many dealerships, the finance person is balancing several roles—usually as a trailer salesperson who also handles some financing. Brian, on the other hand, is a trusted source who is dedicated to nothing but financing for our trailer customers.
Brian uses his years of knowledge and expertise to align your credit application with the lender who is most likely to approve it—and the one who offers the best interest rate deal for you. Let’s take a look at what financing at CRTS is like.
Trailer Financing at CRTS
At CRTS, we don’t send it and forget it when it comes to your credit application. We do our homework up front to find the best rate and the best match. If Brian understands your credit, your business, and what you’re looking for, he can often narrow down potential lenders to just one or two banks. That protects your credit score, and it helps you find a financing option that doesn’t merely get you approved, but also fits your needs best.
We have a menu of finance companies that we work with, and Brian has strong relationships with each of them. He knows each of their financing programs—this bank has a tight credit box and a particular rate, and this other bank has a wide credit box but higher rates. Using a bit of legwork and insights from your credit app, he’ll identify the best place to submit the application.
Business Built on Relationships
Doing business with you means building a relationship. It’s our mission to make every deal good for you and to put your best interests first.
“I try to have my own relationship with the customer,” Brian said. “The salesperson has a relationship with them, but I try to get to know them as well. Often I’ll stay in touch.”
Many of our customers will call Brian for his expert opinion—not just on a trailer, but on a truck or another piece of equipment.
“A lot of the time, they aren’t asking me to finance it—they’re asking for my input on a quote from another lender. They want to know if I think it’s a fair deal,” he said. “It’s like I’m working as a consultant to them. And I’ll tell them if it’s a good deal, or say that they might want to ask this question.”
A big part of building relationships with our customers is honoring our relationships with banks. We don’t want to spray half a dozen banks with credit applications that won’t amount to anything. That’s not a good way to build goodwill, and it can backfire on our customers.
So we carefully choose a small number of lenders that would be the right fit for each customer. That kind of approach honors both you and the lender.
Financing your trailer purchase shouldn’t rely on a scattershot approach. You want a dedicated in-house finance manager who can navigate all the banks and lending options available. Your dealer should be your trusted financing advocate.
CRTS has the experience and knowledge to find the banks that are the best fit for you. We believe a trailer dealership should make your buying or leasing experience as straightforward as possible. When you’ve got a finance manager who’s willing to do all the legwork up front, not only will you get a great deal on your new trailer—you’ll have a partner you know you can trust.
Have a question about financing your next trailer? We’re here to help! Contact us to set up a personal call with Brian Ervin.