A Day in the Life of a Finance Professional at RDO Truck Centers

At RDO Truck Centers, our finance professionals play a crucial role in ensuring our customers have a seamless and beneficial experience when purchasing their trucks. A typical day involves close collaboration with management and the sales team to stay informed about who is ordering or purchasing trucks and their delivery schedules. Our finance team counts on salespeople to introduce them to every customer, whether in person, over the phone, or via email, so they can offer our financing services. Once connected, they work directly with the customer to secure the most beneficial financing option for their needs.

The primary responsibility of our finance professionals is to strengthen the relationship between RDO and the customer. A positive experience with our products, salespeople, and parts and service departments, combined with a beneficial financing experience, can significantly enhance customer loyalty to RDO and the Mack and Volvo brands. However, the biggest challenge they face is the economy, including fluctuating interest rates, product availability, and our customers’ need for equipment.

Our finance team stays updated with the latest financing options and industry trends through a close working relationship with our district manager at Volvo Financial Services. They serve on the Volvo Financial Services (VFS) Dealer Council, which includes members from each region of the United States. The council meets regularly with VFS to discuss all things commercial lending. Additionally, they maintain relationships with other lenders to provide our customers with additional options.

Customers who choose to finance their trucks through RDO Truck Center enjoy an enhanced relationship with us. Our finance professionals strive to put together a finance package that benefits each customer and remain available to assist them long after the loan paperwork is completed. They aim to make the process as seamless as possible so customers can focus on running their business.

Building a relationship with customers is key to determining the best financing options for their needs. Our finance team gains an understanding of each customer’s business operation and equipment use. Communication is crucial in all aspects of this process.

RDO Truck Center offers various financing options, including conventional loans, TRAC Leases, FMV Leases, and Full-Service Leasing. The best way to determine the most suitable option for each customer is to learn about their business and structure a finance package based on their needs.

For customers considering financing a truck for the first time, lenders typically look for a minimum of three years in the specific industry, a good personal credit history, and a minimum of 20% down payment.

Volvo Financial Services (VFS) continually monitors the market to stay competitive with other institutions. Due to the volume of business they handle, VFS often offers flexibility and structures that other lenders cannot. Additionally, their customer service is excellent.

A common misconception is that the requirements for commercial lending are the same as personal lending. However, qualification guidelines for commercial lending are far more stringent. Building a relationship with our customers is key to ensuring transparency and trust in the financing process.