XL Specialized
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Mehmi Financial Group helps businesses finance and lease XL Specialized equipment, including trucking equipment, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used XL Specialized units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About XL Specialized
XL Specialized Trailers was founded in 1995 by George Wall and is headquartered in Manchester, Iowa, building engineered and customized trailers for heavy haul, construction, agriculture, wind energy and oil and gas, according to XL Specialized. Most of its trailers are sold through dealers.
XL Specialized equipment
XL lowboys, detachable goosenecks and extendable trailers move excavators, dozers, cranes and wind components.
What lenders look at
Heavy haul lenders look at the carrier's authority, haul contracts and the tractor pulling the trailer, plus permits and specialized insurance.
Financing XL Specialized equipment
Trailers are often financed alongside the heavy-spec tractor that pulls them.
How XL Specialized equipment financing works
Most XL Specialized 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.
What lenders check on a XL Specialized trucking equipment
Lenders look at machine hours, service records, undercarriage or tire condition, and whether the unit is tied to contracts or a steady work program. Used machines with strong resale demand are usually easier to finance than specialized units.
Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and hours, 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.
Tax treatment of XL Specialized equipment
In Canada, the CCA class depends on the asset and how it is used. Your accountant can confirm the right class. 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.
End-of-term options on a XL Specialized lease
A $1 buyout lease is built for ownership: you keep the machine for a nominal amount at the end. A fair market value lease usually has a lower payment, and at the end you can buy the equipment at its market value, return it or upgrade. Read the return conditions, such as hour limits and wear standards, before you sign.
Who finances XL Specialized equipment
The right structure depends on how the equipment earns money. A machine tied to a long contract can support a longer term, while seasonal work may call for skip or seasonal payments that some lenders offer.
Questions to ask the dealer or seller before you finance
- What is the exact model year, serial number and hours?
- Is there a service history or recent inspection report?
- Is any warranty or extended coverage included, and does it transfer?
- Are attachments, delivery, installation and taxes itemized on the quote?
- For a private sale, is the equipment free of liens, and who will provide the bill of sale?
Insurance on financed XL Specialized equipment
Lenders and lessors require the equipment to be insured for its replacement or financed value, with the lender named as loss payee, before funding. Some also ask for liability coverage. Getting an insurance quote early avoids last-minute delays.
Frequently asked questions
Can I finance an XL Specialized lowboy?
Yes.
Where is XL Specialized based?
Manchester, Iowa.
Can a trailer be financed with a tractor?
Yes.
Can a new heavy haul carrier get approved?
Possibly, with experience and a down payment.
Can I finance a used XL trailer?
Yes.
Do haul contracts help?
Yes.
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