Frequently Asked Questions
What services does Trufco offer?
At Trufco our clients are twofold. We provide truck owners with cash for expensive repair bills and allow them to pay in monthly payments. We also ensure quick payment for truck repair shops while removing the hassle of tracking down payments and eliminating the potential for neglected bill payments.
What documents must be submitted by the client?
You must submit a copy or photo of your valid driver’s license, another valid piece of non-photo I.D., a copy of your CVOR (for Ontario drivers), your 5 biggest customers, 7 photos of your truck (the front, the back, and both sides of the exterior, 2 of the interior, 1 of the odometer), and proof of residence (renters – lease agreement or utilities bill with landlords info & homeowners – tax bill).
Does Trufco provide repair loans in other countries or provinces ?
Trufco’s approved repair centres are located across the province Ontario. This is currently the only area in Canada where we offer our services.
How to apply for a repair loan?
Our website allows for a quick and easy application process. Simply fill out the required information and we will get in touch to finalize all the details with you. Apply Now!
Will Trufco finance repairs on all makes and models?
We ask that trucks be a maximum of 5 years old or 1,000,000km.
How long is the approval process?
We strive for same-day approval on applications received during regular business hours.
Does Trufco perform credit checks?
Because Trufco is an asset-based lending company, credit scores do not affect your acceptance. We will only use credit scores to determine the interest level of a loan.
What happens if repairs have already been started on the truck, but the loan isn’t approved?
Our system is specifically designed to reduce the amount of unapproved loan applications. However, Trufco will not be responsible for any repair payments until written approval has been sent to the client and to the Approved Truck Repair Centre.
What happens with the money? Is it money given to me (the client) or the truck repair centre?
Trufco deals directly with our approved truck repair centers. Truck drivers are only required to fill out the application form. Everything else is taken care of.
Can loans be paid early?
Yes! We allow for early payments. An administrative charge may be applied for this service.
Can loans be changed (added to, or upgraded) at any time?
We assess each customer on a case by case basis and we will meet needs as they arise.
Can loans be canceled?
Most of our loans cannot be canceled, unless prior negotiation has occurred and an appropriate solution has been established.