Lauren has over 13 years of experience in wealth management and financial planning. She is a CFA charterholder and holds a Bachelor's degree in Finance. Lauren has worked with several asset management firms, offering wealth advisory and portfolio management services to high-net-worth clients.
Trailers are expensive, and sometimes, getting financing can help you distribute the costs over a period of time so payments are more manageable. Whether you’re looking at a utility trailer for hauling tools or a larger semi-trailer for a business venture, financing spreads the cost into manageable payments over time. If you want to maintain cash flow, but you’re low on funds, this can be an excellent choice. However, it’s essential to first consider the type of financing you need, your current financial situation, and how to secure the most favorable terms. Before we dive deeper, here’s a comparison of top U.S. trailer financing lenders:
Offers a comprehensive platform connecting businesses with various financing options, including trailer financing; provides tailored solutions to meet specific needs.
Rock Solid Funding
Specializes in trailer financing; offers quick approvals and competitive rates; caters to various credit profiles; provides terms up to 240 months.
Southeast Financial
Over 18 years in the industry; offers nationwide financing for trailers; provides flexible terms; aims for same-day credit decisions.
The Trailer Showroom
Partners with lenders like Rock Solid Funding and Crest Capital; offers access to competitive rates and tailored financing options.
Trailers 123
Connects customers with financing partners such as Rock Solid Funding and eLease Funding; assists individuals with various credit situations.
My Financing USA
Loan marketplace offering competitive rates for trailer financing; caters to a range of credit profiles; provides loan amounts starting from $10,000 with terms up to 20 years.
LightStream
Provides quick funding for those with good credit; offers loan amounts from $5,000 to $100,000; terms ranging from 2 to 20 years; emphasizes a fast application process.
NASA Federal Credit Union
Offers RV loans with competitive rates; caters to various credit profiles; provides loan amounts ranging from $5,000 to $125,000 with terms between 3 to 15 years.
Why Trailer Financing Might Be a Smart Move for You
Trailers aren’t cheap, especially if you’re eyeing specialized or commercial-grade ones. Financing lets you get the trailer you need now without waiting to save up or drain your savings. Plus, it’s common for businesses to finance trailers because they can use them to generate income right away, making the monthly payments easier to handle.
Types of Trailer Financing Options You Can Explore
Traditional Loan: You borrow a set amount to buy the trailer, then pay it back monthly with interest. The ownership papers are yours from day one, and once you finish paying, you fully own it. Simple and straightforward.
Lease-to-Own: This option is like renting but with the option to buy at the end. You’ll make lease payments, and sometimes part of that payment goes toward ownership. Great if you want flexibility without the commitment to buy right away.
Dealer Financing: Some trailer dealerships work directly with lenders, so you can arrange financing through the dealer. It’s convenient since you can often do it all in one place, and they might even offer special promotions.
Rent-to-Own: Think of this as an extended test drive. You rent the trailer, and after meeting a set number of payments, you own it. This can be a good option if you’re not 100% sure you’ll want to keep it forever.
Steps to Secure Trailer Financing
Here’s a practical guide to get you from dream to driveway:
Figure Out What You Need: Start with the basics—what type of trailer do you need? Are you hauling heavy equipment or just need something for lighter loads? Knowing your requirements will help you narrow down choices and budget appropriately.
Look for Government Loans or Grants: Depending on your industry, financial situation and other criteria like your gender and background, you may qualify for special government loans or grants as a small business owner. See this government resource for more info.
Budget and Plan Payments: Be honest about what you can afford monthly. Don’t put yourself unnecessarily into debt. A loan might last several years, so choose a payment you can handle long-term. A larger down payment means lower monthly costs, so consider saving up a bit extra if you can.
Check Your Credit Score: A higher score can snag you better interest rates, which saves you money over time. Don’t worry if your score isn’t perfect—there are lenders who work with different credit situations.
Shop Around for Lenders: You don’t have to stick with just one lender. Compare banks, credit unions, online lenders, and dealership offers to find a loan that’s right for your budget (and doesn’t come with surprise fees).
Apply for Pre-Approval: The pre-approval process offered by many lenders tells you the loan amount and interest rate you’d likely qualify for. It’s not binding, but it gives you a clear picture of what you can afford.
Choose the Right Loan Offer: Once you’ve got some offers, look beyond the monthly payment. Pay attention to the loan term (how long you’ll be paying), interest rate, and any hidden fees or penalties. Select the option that is best for both your budget and your goals.
Finalize the Purchase: After picking your financing option, complete the paperwork with your lender and the trailer dealer. Make sure you’re clear on payment due dates, insurance requirements, and any additional charges.
Best 8 Trailer Loans in the U.S.
There are plenty of reputable lenders for financing a trailer in the U.S. Here’s a rundown of some top options:
Swoop specializes in providing equipment loans to American small, medium and large-sized businesses from coast to coast. They work with dozens of banks and financial institutions to find you the best rates you can qualify for.
2. Rock Solid Funding
Rock Solid Funding specializes in trailer financing with quick approvals and competitive rates. They cater to differing credit profiles and provide terms up to 240 months, making it easier to find a plan that fits your budget.
3. Southeast Financial
Same day credit decisions and highly flexible repayment terms are hallmarks of SE Financial. Their more than 18 years of experience financing trailers and recreational vehicles ensure you get back on the road faster, stronger, and ready to tackle the next challenge.
4. The Trailer Showroom
While The Trailer Showroom doesn’t finance trailers directly, they have partnerships with organizations like Rock Solid Funding and Crest Capital to offer financing options. This collaboration provides access to competitive rates and terms tailored to your needs.
5. Trailers 123
Connecting customers with multiple financing partners, including Rock Solid Funding and eLease Funding. Helping individuals with various credit situations secure financing for their trailer purchases are among their core focuses.
6. My Financing USA
As a loan marketplace, My Financing USA can help you find competitive rates for RV and trailer financing. Starting from $10,000 and up to 20-year terms, they cater to a wide range of credit profiles.
7. LightStream
Fast, straightforward and fair are words to describe their application process. LightStream provides fast funding (on loans of $5,000 to $100,000) to those with strong credit ratings (repayment terms can be anywhere from 2 to 20 years).
8. NASA Federal Credit Union
Offering RV loans with competitive rates, catering to a variety of credit profiles, they provide loans from a minimum of $5,000 up to $125,000. They have repayment terms spanning 3 to 15 years. This makes them a solid option for those preferring to work with a credit union.
When choosing a lender, interest rates, loan terms, and your credit profile are key considerations. It’s wise to compare multiple offers to find the best fit for your financial situation and trailer needs.
Pro Tips for Success with Trailer Financing
Put Down a Bigger Down Payment if Possible: The more you put down, the less you’ll pay each month, and often, you’ll get a lower interest rate too.
Choose a Shorter Loan Term if You Can Swing It: While a longer term means lower monthly payments, it also means more interest over time. If you can afford it, a shorter term will save you money in the long run.
Understand Any Fees: Some loans come with origination fees or prepayment penalties (which charge you for paying off the loan early). Double-check for these, as they can add to your costs.
Trailer Loans In a Nutshell
Trailer financing is a flexible way to get the trailer you need without a huge upfront payment. Whether for personal use, business, or anything in between, financing allows you to spread the cost over time and keep your cash flow steady. Just take it one step at a time—know what you need, set a budget, and shop around to find a financing plan that feels right for you.
With the right plan in place, you’ll be ready to hitch up, roll out, and put that trailer to work for you!
If you’re thinking about investing in gold or silver, especially for your retirement, Augusta Precious Metals is a company that often comes up. They’ve been around since 2012, and they focus mainly on helping people set up and manage precious metals IRAs. They’re all about making sure you’re well-informed before diving into investing.
Who is Augusta Precious Metals?
Company: Augusta Precious Metals
Company address: 8484 Wilshire Blvd #515, Beverly Hills, CA 90211
Retirement accounts supported: IRA, 401k, SEP, TSP, and more.
Augusta Precious Metals is a gold investment company that specializes in accounts that are known as precious metal IRAs (see this article to learn more about these accounts). The team behind the company leads with a clear focus on integrity and customer service.
Management Team (Augusta Precious Metals)
Who are the key members of the company?
Isaac Nuriani – Founder & CEO As founder of the company, Isaac Nuriani is also its current CEO. With a background in economics, he established the company with a vision to help people diversify their retirement portfolios through precious metals. Nuriani emphasizes educating investors and maintaining transparency, aiming to build long-term relationships based on trust and reliability.
Devlyn Steele – Director of Education Devlyn Steele plays a crucial role in the company by leading the educational efforts. With over a decade of experience in financial services, Steele is responsible for helping customers understand the market dynamics and benefits of investing in gold and silver. He’s often the face behind the company’s webinars and educational videos, breaking down complex financial topics into understandable insights.
Howard Smith – Chief Financial Officer (CFO) Howard Smith brings extensive experience to the company in the areas of corporate finance and operations. His focus is on ensuring Augusta maintains a solid financial structure while effectively managing costs and operations. This focus aligns with the company’s mission to provide clear and transparent fee structures to its customers.
Overview of Augusta’s Reputation & Reviews
Here’s a quick overview of the ratings and reviews the company has received from its customers:
Gold & Silver IRAs: This is their bread and butter. They help you roll over your existing retirement accounts (like a 401k) into IRAs backed by physical gold or silver.
Buying Direct: You can also buy gold or silver directly with cash if you just want to hold onto physical metals.
Education: One of their key selling points is the way they prioritize educating you about investing in precious metals. They’ve got guides, videos, and even one-on-one webinars.
The Good Stuff
Focus on Education 📚: Augusta puts a big emphasis on making sure you understand what you’re investing in. They offer in-depth resources and straightforward explanations – keeping you well-informed at every step. Devlyn Steel conducts educational conferences with new investors to explain everything they need to know about their potential gold investment.
Transparent Fees 💡: No one likes hidden fees, and Augusta seems to get that. They’re pretty upfront about what you’ll be paying, which is super important when you’re dealing with Gold IRAs that have storage and management costs.
Dedicated Support 👥: You get a personal representative to guide you through the whole process, and a lot of people seem to appreciate having a single point of contact for all their questions.
Solid Ratings ⭐: They’ve got good ratings across the board from places like the Better Business Bureau (BBB) and Business Consumer Alliance (BCA). This usually means customers trust them and encounter fair treatment.
Buyback Option: If you ever want to sell your gold or silver, they offer a buyback program, which could be helpful if you need to cash out.
The Not-So-Great Parts
High Minimum Investment 💰: They require you to invest at least $50,000 to get started, which can be a deal-breaker if you’re not looking to invest a large amount.
Higher Fees on Premium Coins: Augusta sells both standard and premium bullion coins and bars. Premium coins come at higher premiums (obviously) so be aware of that.
Limited Options: Augusta focuses only on gold and silver, so if you’re hoping to diversify with other metals like platinum or palladium, you’re out of luck.
Delivery Delays 📦: During periods of high demand, there have been a few reports of delays in getting physical metals delivered. Not a huge issue, but something to keep in mind if quick access to your assets is important to you.
What About the Fees?
Setup & Custodial Fees: They’re pretty clear about their fees for setting up and managing your Gold IRA. Still, it’s always a good idea to double-check with them directly.
Storage Fees: Since your gold or silver is stored securely, there are annual storage fees. They use segregated storage, keeping your assets separate and giving you extra peace of mind.
What Do Customers Say?
Positive Feedback 👍: Most reviews talk about how transparent and knowledgeable the staff are, and how much they appreciate the company’s educational approach. People feel more confident and well-prepared in their investment decisions.
Negative Feedback 👎: The main complaints are about the high minimum investment and occasional delivery delays. While these aren’t widespread, some customers mention the issue.
Bottom Line
If you’re looking for a company to help you diversify your retirement savings with gold or silver, Augusta Precious Metals has a good reputation. They’re big on transparency and education, which can be reassuring if you’re new to this kind of investment. Just keep in mind that they have a high minimum investment requirement, and their focus is strictly on gold and silver.
Before making any big decisions, it’s always smart to think about your goals and budget. And, if you’re unsure, a chat with a financial advisor might help you figure out if this fits into your overall strategy.
Augusta Precious Metals – FAQ
1. Is Augusta Precious Metals Legitimate?
Yes, Augusta Precious Metals is a legitimate company with physical offices and thousands of customers. They have a solid reputation for customer education and, perhaps more importantly, transparency. The Better Business Bureau (BBB) as well as the Business Consumer Alliance (BCA) both reflect high ratings for the company which is also ranked well by TrustLink.
2. Pros and Cons of Augusta Precious Metals
Pros: Strong focus on customer education, transparent fee structure, highly rated customer service, and positive customer feedback.
Cons: High minimum investment requirement ($50,000), higher premiums on certain coins, limited range of precious metals (primarily gold and silver), and occasional delivery delays reported.
3. What Are the Fees and Prices for a “Augusta Precious Metals IRA?”
Just like any gold dealer, Augusta charges premiums/spreads on the coins and bars you purchase from them. These spreads can range from 5% to 30% (or more!). The exact cost depends on both the rarity and type of coin. Ask about the breakdown of their fees based on the coins and bars you are interested in. Also, when you open an Augusta Gold IRA, there are fees for account setup, storage, and custodial services. You may obtain a waiver on these fees, depending on whether they have a promo when you call them. These annual fees vary but are generally a flat yearly rate ranging between $200 and $300, so it’s essential to confirm with a company representative. Augusta is known for its clear and upfront fee structure, so there are no hidden surprises.
4. Is There a Minimum for Investment with Augusta Precious Metals?
Yes. The minimum investment for an IRA account with Augusta Precious Metals is typically (around) $50,000.
5. Are There Common Complaints With Augusta Precious Metals?
The most common complaints relate to the high minimum investment amount and occasional delays in delivering physical metals during high-demand periods. Some customers also wish for a broader selection of precious metals beyond gold and silver.
6. Is There Free Shipping With Augusta Precious Metals?
Yes, Augusta often provides free shipping for precious metals purchases, particularly for IRA accounts. It’s a good idea to confirm this detail with a representative as promotions can vary.
7. Does Augusta Precious Metals Have A Refund Policy?
Augusta offers a buyback program, allowing customers to sell their metals back at a competitive rate. However, refund policies can depend on market conditions and specific agreements, so it’s essential to discuss this with them directly, BEFORE you place a purchase or open a Gold IRA account.
8. How Does Augusta Precious Metals Compare to Goldco or American Harfford?
Augusta, American Hartford and Goldco all offer Gold and Silver IRAs with a focus on portfolio diversification. Augusta is known for its educational approach and transparency, while Goldco gets recognition for its broad range of products and personalized services. Your investment needs and preferences will dictate your choice. We recommend you contact all of them and compare their prices and offerings.
9. Is There a Lawsuit Against Augusta Precious Metals?
There are no significant public records or updates on lawsuits specifically against Augusta Precious Metals. However, investors should always perform their due diligence and review the company’s history and customer feedback.
10. How Do I Set Up a (Gold or Silver) IRA through Augusta Precious Metals?
To set up an IRA, you’ll need to speak with an Augusta representative who will guide you through the rollover process. They will help you move funds from your existing retirement accounts into a self-directed IRA AND aid in selecting the type of precious metals to hold.
11. Joe Montana and Augusta Precious Metals – How Are They Related?
Joe Montana, the legendary NFL quarterback, is a paid brand ambassador for Augusta Precious Metals. He reportedly became a customer after his financial advisors recommended Augusta, and he has since publicly endorsed the company.
12. Does Augusta Precious Metals Offer Promo Codes or Discounts?
Occasionally, Augusta may offer promotions or discounts on services, but these can vary. Speak to a representative directly about any ongoing promotions.
13. Is it Safe to Invest With Augusta Precious Metals?
Augusta emphasizes security and transparency in its dealings. It’s important to work with a trusted company when dealing with Gold IRA accounts. See this notice from the CFTC to learn more about some of the scams that unscrupulous gold companies have been using to lure investors. They have a compliance department and offer insured and segregated storage options for their precious metals and are generally a trusted name in the industry.
14. How Many Years Has Augusta Precious Metals Been Operating?
Augusta Precious Metals has been operating since 2012, focusing on providing secure and transparent precious metals investment options.
Wondering if Grasshopper Bank’s business banking solutions are right for your company? Now, we understand that selecting the right bank for your business can be a challenge, especially today with the variety of options available. Now, there are so many options, I know. From brick-and-mortar banks to online institutions, is Grasshopper a good option? Let’s take a a deep dive and review their business debit and checking accounts…
Grasshopper Bank vs Traditional Banks
Forbes calls Grasshopper “not your Grandma’s bank”
Traditional banks are not always the best option for startups and small businesses, as their offerings are often designed for larger companies, and they impose various fees and offer limited accessibility. Frequently, this leads to customer frustration and resentment. For a long time, though, they were the only option small and medium-sized business owners had. But not anymore.
Recently, the rise of digital banking has revolutionized the industry. How so, you ask? These new online platforms provide flexible services and banking options tailored to modern financial needs.
Amongst these institutions, Grasshopper Bank stands out. It is a digital institution delivering innovative banking solutions WHILE prioritizing convenience. And their rates? That’s the other thing. They have a competitive offering on interest rates too. At this bank, there is something to cover every need.
A Brief Overview
Founded as a “client-first digital bank,” Grasshopper Bank seeks to “find a better way for banking” through accessible, user-friendly solutions.
Based in the United States, Grasshopper operates as a fully digital institution. Since its inception in 2019, the bank has eliminated the complexities often associated with traditional banking. Instead, they focus on delivering high-interest and low-fee accounts and small business administration (SBA) loans. They also offer financial planning tools designed to empower customers and their businesses.
More details:
Official Name: Grasshopper Bank
Website: https://www.grasshopper.bank/
Founded in 2019
Phone Number: 1-888-895-9685
BBB Rating: N/A
Headquarters: 261 5th Ave, Suite 610, New York, NY 10016
What Makes Grasshopper Bank Stand Out?
Grasshopper embraces a “client-first” approach, prioritizing user-friendly online banking services. The goal? Cater to today’s tech-savvy consumers. If that’s you, great! If not, then don’t worry. Their intuitive mobile app provides user-friendly access to account management. It allows customers to check their balances, transfer funds, and deposit checks from anywhere at any time. This level of online accessibility eliminates the need for any physical branches.
Grasshopper offers a range of innovative financial products, from high-interest savings to low-fee checking accounts. These accounts will maximize savings and minimize costs. Additionally, the bank provides specialized services such as small business administration (SBA) loans, senior secured loans, lines of credit, and commercial real estate loans. It is a one-stop shop for various financial needs, enabling customers to tailor their banking experience to their financial goals. And their business needs.
Committed to exceptional service, Grasshopper follows customer-centric policies. They offer 24/7 support through various channels, including online chat and email. The bank’s approach includes a transparent fee structure, ensuring clients are fully aware of any charges associated with their accounts.
Grasshopper Bank implements robust security and trust measures to safeguard customer information. These measures include encryption technologies, multi-factor authentication, and more. Customers can also feel confident knowing their deposits have FDIC insurance coverage. This adds a layer of protection to their banking experience, ensuring peace of mind. At least I feel better with insurance coverage as a backup safety plan. Don’t you?
Services Offered by Grasshopper Bank
Here’s a breakdown of the main services available:
Innovator Checking account: This account typically has low or no monthly fees and allows unlimited transactions. Yes, you read that right. I said LOW or NO monthly fees! The Innovator checking is an account convenient for daily use. Customers can obtain money through a network of ATMs and access online banking features such as mobile check deposits and bill payments.
Money Market Savings account: These savings accounts offer competitive interest rates up to 3.30% APY on balances of over $25,000, allowing customers to earn more on their deposits. This account is ideal for future goal funding. Why? Because it has no monthly maintenance fees or minimum balance requirements. It also enables you to maintain easy access to your money.
Small Business Administration (SBA) lending: Find yourself in a particularly urgent situation? This could come in handy… Grasshopper Bank offers competitive SBA loans for businesses needing additional financial support. This option allows companies to finance larger purchases or consolidate debt without excessive fees. Plus, the application process is straightforward, permitting quick approval times.
Digital tools and education: Grasshopper Bank provides various tools designed to assist customers in managing their budgets and reaching their other financial goals. These resources include automated bookkeeping, integration with QuickBooks, cash flow management, and digital invoicing. They also post educational materials on their blog, empowering customers to make informed decisions by improving their financial literacy.
The Pros and Cons of Grasshopper Bank
Pros
Competitive interest rates with APY up to 3.30% on MMA Savings Bundle balances of $25,000+
Low-fee accounts with no monthly maintenance fees and free overdraft protection. They also have unlimited no-fee
No minimum balance requirements
User-friendly online platform
Effective customer support services
Cons
Limited physical branches for customers who prefer in-person service
Lacking some traditional banking services
Frequently Asked Questions about Grasshopper Bank (FAQs)
Why choose Grasshopper Bank?
Grasshopper is appealing because of its competitive interest rates combined with minimal account fees. AND its user-friendly online platform allows for easy access to services. The bank emphasizes customer support. What about 24/7 assistance? Of course.
What types of accounts can I open?
The better question might be, “What CANT you open?” Grasshopper offers several types of accounts, including savings and low-fee checking accounts. They also arrange specialized services for specific financial needs, such as small business financing and commercial real estate lending. This variety allows customers to choose the account that best fits their financial goals. See, I told you. There is something for everyone here.
Are my deposits insured?
Yes! You and I can both sleep easier knowing that Grasshopper is a member of the FDIC. This means the bank has insurance on deposits up to $250,000.
Are ATM withdrawals possible with Grasshopper Bank?
They are. Grasshopper customers can access their funds at any one of 8,500+ SUM or 37,000+ MoneyPass ATMs across the country. While the bank offers free ATM withdrawals at specific locations, there may be fees associated with out-of-network ATMs.
What are the fees associated with Grasshopper Bank accounts?
Grasshopper Bank prides itself on offering low or no fees for its accounts. There are typically NO monthly maintenance fees(!!) or minimum balance requirements, making these products accessible to a wide range of customers. The bank also does not charge overdraft fees. However, some fees may apply for out-of-network ATM withdrawals.
