Truck Finance for Australian Businesses & Individuals

What do I need to know when financing a truck?

A new truck can cost anywhere between $50,000 and $200,000+. But, affordable financing options exist. Buying your new commercial vehicle does not have to be an outright expense!

Here's what you need to know when applying for a truck loan:

• New businesses must pay a deposit and offer existing property as collateral for the loan. The deposit is generally calculated at 20%, but can be raised up to 30% if you are unable to offer collateral.
• The best financing deals are offered on trucks less than five years old.
• You must have up to date financial records of your business when applying for a truck loan. If not, you must provide 6 months of mortgage and trading account statements, 3 months of personal account statements, and proof of ownership for the property to be offered as collateral.
• You must provide information regarding the make and model of your preferred truck, details about the seller, and the term for which you’re requesting the loan. If the seller requires a balloon payment, that should also be mentioned in your application.
• If your business is at least two years old, you will get better financing options for your truck.

What is the process for getting a truck loan?

When applying for a truck loan, there are a few steps you’ll want to keep in mind:

• Reach out to our broker over email or phone. Our experts will look after your needs and confirm details about your business.
• Based on the information you provided, our broker will calculate the best deals for you. They will also look into your financial background to make sure you can repay your loan.
• At the end of the evaluation, we will offer you a formal approval for financing your truck.
• The chosen lender will ask the seller for an invoice and organise a physical inspection of the truck.
• As the buyer, you will need to sign a few documents to cement the loan offer.
• The deal is referred for settlement, and the truck seller gets paid. You can now accept the delivery of your new vehicle.

How can you help me with the finance?

Getting approval for a truck loan can be a complicated procedure. There are different types of financing options, from chattel mortgage to an operating lease. If you are a business owner who wants to buy a new truck without having to worry about the nitty-gritty details of the affair, we can help you. It is our job to assess your situation and get you the best deals. We want you to be able to repay your loan in time without adding to your financial burden. Start the process by completing some initial details.

What types of trucks can I get a loan for?

You can employ financing options for all sorts of trucks. They can be private, or dealer owned. We help finance trucks that are over a year old as well as those that are brand new. This includes different types of vehicles like trailer trucks, semi-trailers, lowboy trailers, refrigerated trailers, tail lift trucks, jumbo trailers, lorries, and many more. If you aren’t sure whether you qualify for truck financing, give us a call and let our experts help you.