Utility
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Mehmi Financial Group helps businesses finance and lease Utility equipment, including trucks, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Utility units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Utility Trailer
Utility Trailer Manufacturing Company was founded in 1914 and designs and manufactures dry freight vans, flatbeds, refrigerated vans, Tautliner curtainsided trailers and other trailers, according to Utility. The company has passed a milestone of 200,000 reefer trailers built at its Utah plants. It was founded by brothers H.C. and E.W. Bennett and describes itself as America's oldest privately owned, family-operated trailer manufacturer.
Utility trailers
Utility's reefers, such as the 3000R, are among the most common refrigerated trailers on North American highways, and its dry vans and flatbeds are common in fleets. See Utility's history timeline for more on the brand.
How lenders view Utility trailers
Utility reefers and dry vans have deep resale markets, which supports financing for new and used units. Lenders review model year, walls, floor, roof, doors, axles, tires and, on reefers, the refrigeration unit's hours and service history.
Financing Utility trailers
Refrigerated carriers often finance reefers in groups tied to food or pharmaceutical contracts. Owner-operators may finance a reefer with their tractor. Lenders review freight contracts and experience.
How Utility equipment financing works
Most Utility purchases are financed with an equipment loan or a lease. A loan gives you ownership from day one, with the lender registering a security interest (PPSA in Canada, UCC in the USA). A lease keeps title with the lessor and can lower the monthly payment, with a buyout, renewal or return option at the end.
Utility equipment we help finance
Financing Utility trucks
Trucks are financed by owner-operators, fleets and vocational businesses. Lenders review model year, odometer reading, engine and emissions history, and your operating authority and driving experience. Specification matters: sleeper or day cab, axle configuration and body type all affect resale demand. For older or high-kilometre units, lenders may ask for proof of an engine rebuild or a mechanical inspection.
Utility trucks on our eligible equipment list include Utility Service Truck.
What lenders check on a Utility truck
Lenders look at model year, odometer reading, engine and emissions history, and your driving or operating experience. Long-haul use is often reviewed more closely than local or vocational work.
Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and kilometres or miles, and financial statements or tax returns for larger amounts.
See the full list of eligible equipment, compare equipment financing options, or estimate payments with the equipment financing calculator.
All Utility models with financing pages
| Model | Type | Category |
|---|---|---|
| Utility Service Truck | Truck | Transportation |
Tax treatment of Utility equipment
In Canada, trucks and tractors designed for hauling freight with a gross vehicle weight rating over 11,788 kg generally fall in CCA Class 16, while other trucks and vehicles generally fall in Class 10. Trailers have their own rules, so confirm the class with your accountant. With a loan, you generally claim capital cost allowance and deduct interest. With a true operating lease, lease payments are generally deductible instead. See the CRA classes of depreciable property. In the USA, Section 179 and bonus depreciation may apply; see IRS Publication 946. Always confirm with your accountant.
Frequently asked questions
Can I finance a used Utility 3000R reefer?
Yes. Lenders review the trailer and the reefer unit's hours and service history.
How old is Utility Trailer?
Utility was founded in 1914.
Can I finance a Utility dry van or flatbed?
Yes. Lenders review condition, axles, tires and the freight it will haul.
Can a refrigerated carrier finance several Utility reefers?
Yes. Lenders review freight contracts and fleet financials.
Is Utility Trailer family-owned?
Utility describes itself as America's oldest privately owned, family-operated trailer manufacturer.
Can I finance a reefer with my tractor?
Some lenders will finance them together.
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