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We can provide equipment leases and Financing for all makes and models of equipment, across almost every industry, for businesses of almost any size.

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Truck Loan

Canada Equipment Loan specializes in providing Loans and Financing for Trucks. Good Credit – Bad

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Trailer Loan

Trailer loans Canada is Backbone of our Business. We specialize in bad credit score Truck and Traile

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Construction Equipment Loan

Canada Equipment Loan is the Authority figure in Construction equipment loan Canada. Our Low interes

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Heavy Equipment Loan

Some business requires just simple office set up, but some require specialized equipments which can

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Avoid Truck Financing Mistake of Buying Flood Damaged Vehicles

Buying a truck damaged by floods is one of the most sever truck financing mistakes people often make. Often times, people file papers to finance a truck and later discover their mistake when they see that the truck is damaged in floods last year. So, how do you spot and avoid such fake deals. Here are some tips to spot a flood damaged vehicle and take preventive action.

Why Flood-Damaged Vehicles will Cost you Dear

Trucks from every major manufacturer will take a good beating from elements of nature. They can handle heavy rain, strong wind currents, bad roads and more. However, a flood is what truly beats these vehicles. It is mechanically proven that a flood often leads to irreparable damages to the vehicle. The internal mechanical parts and electrical wiring of the car is damaged beyond repair. Another effect of flooding is the permanent mold issues in the vehicle.

In fact, truck repair shops never recommend starting a truck damaged by floods. In many such cases, a fire consumes the vehicle due to ignition faults. Experts recommend salvage yard as the only suitable place for a flood damaged vehicle. Some provinces in Canada do not license the vehicle submerged in water as their safety is compromised beyond repair.

Flood vehicles are often submerged under water for many days at a stretch. Toxic fluids often contaminate the vehicle’s interior including seats, fabric, lining and more. Electrical components including the battery are often the first to give up. Toronto Vehicle Inspection Regulations prohibit flood damaged vehicles from plying on Canadian roads. Even if the electrical wiring is replaced, these vehicles cannot be used safely and are still prohibited.

Signs of Flood Damaged Vehicles

Check out the following signs that may prove a vehicle is damaged by floods

  • Interior or trunk has foul mildew smell.
  • cabin air filter housing is contaminated.
  • Rust on metal surfaces at unusual places like under the dash, bare metal brackets etc.
  • A water line on exterior surface or interior parts.
  • Excessive sludge, silt or mud under the seats, carpets or in the cabin interiors.
  • Silt or mud in the wiring harness, under the hood or over the engine cover.

Always Seek Up-to-Date Flood Report

If you sense any extreme price reduction, go for a safety inspection. Or better still, ask for a truck inspection report compiled recently. Provincial safety certification reports are also going to give you a suitable explanation for the extremely low price.

View Private Sale Vehicles with Suspicion

You may find a good deal on some truck loan Mississauga websites, but be careful about the flood damaged vehicles. If an offer looks too good to be true, be extra cautious. When proceeding with these deals, you should consult a qualified truck technician for detailed inspection. These people can sniff flood damage from miles. Only go through with the deal once you have been given a go ahead by a qualified technician.

Canada Equipment Loan is the perfect place to find the best deals on truck financing and leasing. We are the people to meet when you look for truck financing Toronto deals. Whether you are an operator or owner, we have a deal for you that meets your requirements.