Frequently Asked Questions
Q: What are your rates?
A. Please call for our current rates: 262-770-8697.
Q: Is there a minimum credit score you will accept?
A: Yes, our typical minimum is 625.
Q: Why can't I fax my credit app/other documents to you?
A: We are set up to receive instant noification of an incoming credit app we receive
via email. This allows us to provide better service to you, by initiaiting the credit review
process without an unnecessary delay caused by an incoming fax that might be covered by
other subsequent documents that come in.
Q: Is there any security deposit required?
A: Yes, there is a $2,400 security deposit that is required.
Q: I'm only renting for a month or less. Why can't I pay for the trailer when I'm done?
A: We require all rentals to be paid for in advance--regardless of time of possession.
Q: What "up-front costs" are required?
A: Your security deposit of $2,400 and first month's rent; plus any delivery fees (if applicable) and 5.5% sales tax on the rent and delivery fee.
Q: What are the insurance requirements?
A. Magnum Truck and Equipment, Inc. must be endorsed to your existing policy as an Additional Insured and Loss Payee for all coverages except Workmen's Compensation. It is insufficient to show us as a Certificate Holder only. This typically takes a day or two to accomplish with your insurance agent, so please PLAN AHEAD! Understand that the trailer can only leave the yard once we have proof of the endorsement to your policy and payment is received in full. Click here for a sample of the wording required on the certificate regarding this policy endorsement. Your company will then issue verification of the endorsement in the form of an addendum to your policy. Please Click here to show your agent what we are looking for to help speed your paperwork turnaround time.
Q: Do you charge fees for miles put on the trailer?
A. No. There is a flat rate per day/week/month for the trailer. There is a modest charge for wear on brakes and tires, and of course, any damage that might occur during your rental agreement term.
Q: Can I get my support equipment from you? (Chains, binders, etc.)
A: You are required to provide whatever tie down equipment will be necessary to safely transport your cargo.
Q: How are payments handled for rentals longer than one month?
A. Like the other rental terms, we require the first month's rent, security deposit, delivery fees and applicable taxes prior to trailer departing from yard. Subsequent payments are handled via ACH draw from your business checking account. We also require a major credit card as a back up to any problems making the regularly timed withdrawals from your checking account. Unfortunately, there are no exceptions to this. You will, however, receive a 3 day reminder notice via email when we are getting ready to process the ACH withdrawal as long as we have your email address on file. Monthy invoices are not typically submitted to you; just the reminder for the upcoming withdrawal.