Pelagic Blog

In the competitive world of truck financing, dealers have numerous options to choose from. However, Pelagic Capital stands out for several compelling reasons. Here’s why dealers might prefer to work with Pelagic over other lenders:

1. Quick and Easy Financing

Pelagic Capital offers a streamlined application process that ensures fast approvals. This efficiency helps dealers close deals more quickly and efficiently, reducing the time customers spend waiting for financing decisions.

2. Affordable Payment Options

Pelagic provides flexible financing solutions tailored to fit customers’ budgets. This flexibility allows dealers to offer attractive financing terms, making it easier for customers to purchase the trucks they need.

3. Industry Expertise

With over 20 years of experience in the trucking industry, Pelagic Capital has deep knowledge of various market segments, including first-time owner-operators, small fleets, and vocational markets. This expertise gives them a competitive edge in underwriting, deal structuring, and asset remarketing.

4. Dedicated Support

Pelagic offers dedicated support to both dealers and their customers, assisting them every step of the way. This level of service enhances the overall customer experience and helps build long-term relationships.

5. Tailored Solutions for First-Time Buyers

Pelagic has specialized programs designed to meet the unique needs of first-time buyers. These programs include flexible rates and down payments based on credit, financial position, and past driving experience, making it easier for new entrants to the market to secure financing.

6. Focus on Challenged Credit

Pelagic is known for helping customers with less-than-perfect credit scores. They offer specialized financing solutions and flexible terms to support the growth of these customers, providing opportunities that might not be available through other lenders.

Competitors in the Market

Pelagic Capital competes with several other companies in the truck finance sector, including:

1. Trucklenders USA: Known for its extensive experience and a wide range of financing options.
2. Wells Fargo: Offers competitive rates and flexible payment structures, especially for first-time buyers.
3. CAG Truck Capital: Specializes in helping those with bad credit history.
4. Commercial Fleet Financing: Renowned for its customer support and zero down financing options.
5. Bank of America: Provides loans for light trucks and vans with low rates.

Additionally, for first-time commercial truck buyers, other notable competitors include:

1. Firstmark Financial: Known for offering 0% down payment options and working with both good and bad credit.
2. Quest Capital: Provides financing even for those with bankruptcies, charge-offs, and slow payments, with 0% down payment required.
3. ClearView Financial: Offers financing with no down payment for first-time buyers.
4. Calfund LLC: Works with buyers who have no recent vehicle repossessions.
5. Trust Alliance Capital: Will finance buyers with discharged bankruptcies and no recent vehicle repossessions or delinquent child support.

Conclusion

These features make Pelagic Capital a strong partner for dealers, providing comprehensive and flexible solutions that can help meet sales goals and boost revenue. By choosing Pelagic, dealers can offer their customers quick approvals, affordable payment options, and dedicated support, all backed by extensive industry expertise.

If you’re a dealer looking for a reliable financing partner, consider Pelagic Capital for your truck financing needs. Their tailored solutions and commitment to customer satisfaction make them a standout choice in the market.