How to 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, shipping their vehicle is essential, no matter the price, such as for those who are moving to a new city.
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If you find yourself strapped for cash or unable to afford auto transport services, you may be wondering if auto transport companies offer payment plans or financing options. The truth is that most auto transport companies do not offer payment plans or financing options because of the following reasons:
Two Separate Companies are Involved in Auto Transport
In the vast majority of instances, when you hire an auto transport company to ship your vehicle, you are going through an auto transport broker. The auto transport broker, in turn, hires an auto transport carrier to do the actual shipping. The payment that you have to make first starts with a deposit to the auto transport broker followed by paying the auto transport carrier once the vehicle has been delivered. If there were to be a payment plan or financing option put in place, this would possibly create confusion and will make the process much more difficult, as you would have to have a monthly plan in place with both the broker and the carrier.
The Auto Transport Carrier Pays a Lot Upfront
An auto transport carrier has to pay a lot upfront, especially considering the cost of gas, the road expenses, the driver's salary if he or she doesn't work independently, maintenance repairs, and so forth. Given how much they rely on cash flow to sustain their business, an auto transport carrier could not afford to wait for the payment to arrive in monthly installments, especially since there's no guarantee that the person will actually make timely payments, if at all.
Both the Auto Transport Broker and Carrier are Taking a Chance
If a person chooses to not make payments, both the auto transport broker and the auto transport carrier will be losing 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, especially due to the high overhead costs that they have. It's nothing personal against the customer, but dishonesty is a reality, and the auto transport industry is not immune from it. That's why auto transport companies are extremely strict 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 over the fact that most auto transport companies do not offer one. Just make sure to check ahead of time with the auto transport company about whether or not they accept credit card payments.
At A-1 Auto Transport, 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!