breaking

TFS Financial, WEX Launch Joint Equipment Financing Program as Fleets Resume Purchasing

TFS Financial and WEX announced a new equipment financing initiative Monday targeting trucking carriers across North America. The program connects WEX Over-the-Road customers with TFS' multi-lender platform, which matches borrowers with financing options based on credit profiles, asset types and loan terms. Fleets delayed equipment purchases during the prolonged freight downturn, creating a significant backlog of replacements. Many carriers extended normal replacement cycles from three to six years, meaning purchasing demand could double as market conditions improve. Aaron Case, TFS Financial president, reported increased fleet confidence in recent weeks. Noel Glasgow, WEX vice president of sales, noted carriers continue managing high operating costs and rising equipment prices alongside tighter lending conditions. The partnership addresses growing inquiries about equipment financing as the trucking industry stabilizes.