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
“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.