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Commercial Line of Credit FAQs

  • What does the term "commercial" mean with regard to auto finance?

    Vehicles that are integral to a business are defined as "commercial" or business-use vehicles.

    In some cases, commercial/business vehicles are modified, or up-fitted, to enhance their ability to better serve their owners. Plumbers, construction workers, or delivery drivers, for example, sometimes need a specially-equipped vehicle for their day-to-day business operations. The volume requirements of commercial customers vary dramatically. Some customers operate one vehicle at a time. However, other customers operate several thousand vehicles.

  • What is a commercial line of credit?

    Our commercial line of credit provides qualified business customers with an additional source of funding for use in the purchase or lease of commercial vehicles.

    Customers who have commercial credit lines are pre-approved, so they can simply “sign and drive” whenever they return to your dealership to acquire more vehicles for their business.

  • What are the benefits of a commercial line of credit?

    A commercial line of credit gives your customers:

    • Easy and flexible service
    • An additional source of capital specifically designed for vehicle funding
    • Streamlined delivery process

    An easy way to preserve bank lines of credit for other short-term needs

  • How will my customers benefit from a commercial line of credit?

    A commercial line of credit:

    • Preserves their bank credit lines for other commercial business needs
    • Is available for one year (as long as customers maintain eligibility and are in good standing)
    • Provides convenient billing and payment options such as Auto Pay, an automatic debit of the customer’s payment account or consolidated billing statements for customers who do not use Auto Pay

    Offering a commercial line of credit to all of your customers, even those who buy only 2 or 3 vehicles per year, will simplify their transactions. We believe they will reward you with repeat sales and long-term loyalty because you make it easy for them to do business with you.

  • Is a commercial line of credit limited to certain products or lines of business?

    No. Once established, a business can use a commercial line of credit to purchase any light- or medium-duty vehicles. The business can also use it on most body packages and commercial vehicle up-fits, as well as other products such as extended service contracts.

  • How much does it cost for a customer to establish a commercial line of credit?

    There is no charge to establish or maintain a commercial line of credit.

  • Can I use a commercial line of credit for expenses other than vehicle purchases?

    No. A commercial line of credit cannot be used for non-vehicle expenses such as office equipment.