OOIDA introduces truck and trailer finance program

| 1/6/2005

The Owner-Operator Independent Drivers Association has launched a new finance program for its owner-operator members for their purchases of trucks and trailers.

The OOIDA Truck and Trailer Finance Program is designed as an alternative to dealer-arranged financing to allow OOIDA members to have the flexibility and options to find the best deal for themselves when buying new and used equipment.

Partnering with InsurLease LLC of Sunbury, OH, OOIDA now offers small business truckers and small fleet owners access to competitive rates through the program’s use of multiple lenders, plus the convenience advantages of direct financing, quick credit decisions, prequalification and straightforward documentation.

“Too often, small business truckers and small fleet owners are at a disadvantage in securing better alternatives to dealer-arranged financing for their equipment. With limited options, they have not always received the most competitive terms for their financed purchases,” said Michael Schermoly, OOIDA marketing director.

“OOIDA’s Truck and Trailer Finance Program now places a full service product with potential savings benefits into the hands of this very important group.”

The OOIDA Finance Program will offer loans and leases to finance the purchase of new and used trucks and trailers. It will also be able to accommodate dealer sales as well as the sale of equipment between individual truckers. Schermoly said that will be a great benefit to OOIDA’s 119,000 members, many of whom sell used equipment to other members via the association’s Web site and publication, Land Line Magazine.

“OOIDA has always represented ‘strength in numbers’ for the small business trucker,” said OOIDA President Jim Johnston. “Our membership constitutes the largest trucking fleet in the country and we are pleased that our new finance partnership will enable them to exercise more control of their purchase decisions and take advantage of their combined purchasing power and strength as a group.”

OOIDA members can contact Finance Manager Margo Fries at (800) 444-5791 for additional information or visit the Web site at www.ooida.com.