Whether you’re a sole operator contract driver or owner of an entire fleet, there are a very attractive range of finance options available for you. Both new and used trucks can be financed through a selection of commercial loan products including Chattel Mortgage, Commercial Hire Purchase and Leasing packages.
Selecting the right option which is best for your purchase depends on your accounting method and business operations and your finance broker will advise you of the specifics of each loan type.
Like pretty much everyone these days, you’ll be looking for the best loan deal you can possibly source and we have some tips of what to look out for when comparing deals.
Just because you were previously declined for a loan of any type or have some negative entries in your credit report history, it doesn’t mean you’ve come to a dead end in terms of borrowing funds to purchase your truck.
You just have to go up the right road, talk to the finance experts for directions and they should be able to assist you with a loan or commercial finance deal for your purchase.
Expert finance brokers have the know-how when it comes to matching the right loan with the right person or business, even if you have credit issues.
There can be many reasons why you don’t have all documents that many banks and finance companies usually request to support a loan for truck finance.
Perhaps you’re just starting out as an owner-driver, having a change of occupation, newly arrived in this country or any other reason.
A lot of banks will not approve loans to applicants without all the supporting documentation that is demanded by their company.
But that doesn’t always apply ‘across the board’. Talk to a truck finance broker and they will take on board your circumstances and assist you by tailoring a deal to exactly suit your personal details.
Finance brokers are specialists in finance, so if you want to source the best deal for your truck finance, it just makes sense to consult with a broker who has experience and expertise in arranging truck finance.
Who should you contact and trust?
How can you assess the best finance broker for your deal?