Do Auto Transport Companies Offer Payment Plans or Financing Options?

How do you know if auto transport companies offer payment plans or financing options?

Shipping a vehicle can be expensive and out of your budget. However, for many, moving is essential, no matter the price, such as for those who are moving to a new city.

If you find yourself strapped for cash or unable to afford services, you may wonder if firms offer payment plans or financing options. The truth is that most companies do not offer payment plans or financing options because of the following reasons:

Two Separate Agencies are Involved in Hauling

When you need to have your car sent, you'll usually work with a broker instead of directly with a firm. The broker then contracts with a car freight company to complete the journey. First, you'll need to pay a deposit to the broker, and then, after delivery, you'll pay the agency. Payment plans or financing options could further complicate matters, as they would necessitate setting up separate monthly arrangements with both the broker and the carrier.

The Carrier Pays a Lot Upfront

A hauling carrier must pay a lot upfront, especially considering the cost of gas, road expenses, the driver's salary if he or she doesn't work independently, maintenance repairs, etc. Given how much they rely on cash flow to sustain their business, a carrier could not afford to wait for the payment to arrive in monthly installments, especially since there's no guarantee that the person will make timely payments, if at all.

Both the Broker and Carrier are Taking a Chance

If a person chooses not to make payments, both the broker and the carrier will lose money. They do not have the financial resources, such as a bank, to try and collect late payments, so if they do not get paid, it can be catastrophic to their business operations, mainly due to their high overhead costs. It's nothing personal against the customer, but dishonesty is a reality, and the industry is not immune from it. That's why auto companies are stringent in terms of their payment requirements.

Credit Cards Could Be an Option

Putting more on your credit card than you can afford and carrying a month-to-month balance as a result is not recommended, but if you have no other choice, it is an option. This version of a payment plan is a workaround for the fact that most firms do not offer one. Just make sure to check ahead of time with the agency about whether or not they accept credit card payments.

At A1-AT, we always make sure to provide our customers with affordable prices. Make sure to contact us today for your free, no-obligation quote. We'll do our best to work with your budget!

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