Truck Finance
Are you looking to get a great deal on a new or used truck, but not sure how much you can borrow? We offer obligation free finance pre-approvals, so that you can negotiate on price across many different truck vendors and ultimately secure the best deal you can.
General Rules While Getting A Truck Finance
If it is a new start business most financiers require a 20% deposit, however we offer “no deposit truck finance” options for both new starts and existing businesses.
No proof of income is required where:
Applicant has had ABN for 2 years
Purchasing a new or used truck through a dealer
Loan amount is under $300k
Replacement commitment whereby the new loan amount is not more than 25% higher than the original loan.
Low Doc and No Doc Finance are becoming a trending form of financing, mitigating the requirement for accountant prepared financials.
The best finance rates are offered on a Truck that is no older than 5 years old at time of purchase. Older Trucks can also be financed but payments will be higher based on the increased risk of an older asset.
Better finance packages can be offered to those that have been in business for many years, have 2 years financial statements and are asset backed.
Transactions through a dealer involve less paperwork and settle quicker than if the Truck is purchased privately.
