Water truck financing

A water truck is a tank, a pump and a spray bar on a chassis, and it's on every construction site and most mine sites in the country for dust control and compaction. iFinancial Group finances them new or used, chassis and tank on one approval, 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

A 2,000 gallon water truck on a Class 6 or 7 chassis, spec'd under the 26,001 pound CDL line on many chassis so any employee can drive it, typically lists new from about $110,000 to $170,000. A 4,000 gallon truck on a Class 8 chassis runs roughly $160,000 to $240,000. Off-road articulated water trucks for mine and large earthwork sites run $400,000 and up and are a different animal.

Those are market ranges. Tank material, the pump and spray system, a hose reel and cannon, and the chassis move the number.

What goes on the same approval

The chassis and the tank are two invoices and one truck, financed on one approval. The pump and spray bar, a hydrant fill, a rear cannon, a hose reel and the lighting belong to the equipment.

Freight from the tank builder, setup and lettering are soft costs and can ride on the same deal, on many deals up to 30% of the total.

Who buys them and how the payment gets covered

Dust control contractors who rent the truck and the operator to job sites by the day, excavation and grading contractors who run their own, agricultural operations, fire protection on rural property, and oil and gas service companies. A water truck on a daily rental with an operator is one of the better earners per dollar of truck in construction.

The work is tied to construction season and to dry weather. Where the year is uneven, seasonal payments can follow it.

New or used

Used water trucks are often an older chassis with a tank mounted later, and they trade from about $40,000 to $120,000 depending on the chassis age and the tank. Dealer, auction and private party sales are all financeable here.

On a used water truck, the tank baffles, the pump and the chassis frame where the tank mounts get the inspection. On the financing side it's the bill of sale, the title and proof of what was paid.

What slows a water truck deal down

Mostly nothing. Water trucks are a simple body on a common chassis, dealers keep them in stock, and a used one can fund inside a week once the terms are signed.

One thing to settle before you order: whether the truck needs to stay under the CDL line. A 2,000 gallon tank on the right chassis does; a 4,000 gallon truck never will. That decides who you can hire to drive it and what the truck is worth when you sell it.

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, roll-off truck, box truck, service truck, refuse truck, concrete mixer truck. Or start with vocational truck financing.