Roll-off truck financing

A roll-off truck is a hoist on a chassis that drops a dumpster at a job and picks it up full, and a dumpster rental business is the truck plus a yard full of containers. iFinancial Group finances the truck, chassis and hoist on one approval, and the containers with it, new or used, on a one-page application. No tax returns and no audited financial statements to apply, no minimum and up to $1,000,000.

Who you're dealing with

iFinancial Group has funded equipment since 1997, roughly $600 million of it, in all 50 states. We're a direct lender, not a broker, so the file is underwritten in house and not shopped around. Our customers have ranged from independent manufacturers to global technology companies. We've barely advertised in almost three decades. The business came from repeat customers, referrals, and vendors sending us their customers.

What you're financing

Cable hoist roll-off trucks on a Class 8 chassis with a 60,000 pound hoist typically list new from about $180,000 to $280,000. Hooklift trucks, which pick up the container with an articulating arm and run from a Class 6 chassis with a 20,000 pound hook up to a Class 8 with 60,000, run roughly $140,000 to $260,000. The containers themselves, 10 to 40 yard dumpsters, run $5,000 to $9,000 each new, and a working route needs a dozen or more of them.

Those are market ranges. Hoist capacity, the chassis, a tarp system and whether it's a cable or hook unit move the number.

What goes on the same approval

The chassis and the hoist are two invoices and one truck, financed on one approval. The containers belong to the same package: a truck with no dumpsters isn't a business, and we finance the truck and the first set of containers together. The automatic tarper, the container lids and the lettering ride along.

Freight from the hoist builder, delivery of the containers and setup are soft costs and can go on the same deal, on many deals up to 30% of the total.

Who buys them and how the payment gets covered

Dumpster rental companies, most of them started by one person with one truck, roofing and demolition contractors who got tired of paying someone else for cans, scrap and recycling haulers, and construction site services. The revenue is per haul plus a rental on the can, and a truck running six to ten hauls a day covers its payment in the first week of the month.

Dumpster rental is one of the most common first-year businesses in vocational trucks. It starts with the one-page application, and a newer business will typically need a little more up front.

New or used

Used roll-off trucks five to ten years old typically trade from about $80,000 to $160,000, and used hooklifts from $60,000 to $140,000. Used containers run $2,000 to $5,000 each depending on condition. Dealer, auction and private party sales are all financeable, including a package of truck and containers from an operator leaving the business.

On a used roll-off, the hoist cylinders, the cable and sheaves on a cable unit, the hook and jib on a hooklift, and the frame rails get the inspection. On the financing side it's the bill of sale, the title and proof of what was paid.

What slows a roll-off deal down

Containers are often bought over time as the route grows, and each batch can be its own small financing or added when the next truck is bought. A customer we've funded before is a shorter review the second time.

New trucks are built to order. An approval here holds up to 60 days, and we can often pay the hoist builder at order so the deposit is part of the financing. How much is prefunded at order depends on the builder's terms and the file.

How it works with iFinancial Group

It's the same one-page application whether the equipment is small or the deal runs to $1,000,000: no tax returns and no audited financial statements to apply, no minimum and up to $1,000,000. Decisions typically come back within 24 hours, and an approval holds up to 60 days. New and used equipment, terms up to 84 months, and soft costs up to 30% so freight, setup and training can go in the same deal. Payment structures beyond level payments are there when the equipment earns unevenly. We've been doing this since 1997, in all 50 states.

Other vocational trucks: vacuum excavator, vacuum truck, bin cleaning truck, dump truck, bucket truck, tow truck, street sweeper, water truck, box truck, service truck, refuse truck, concrete mixer truck. Or start with vocational truck financing.