This week our company had the opportunity of providing Tanker Trailer Finance for one of our existing clients. They specialise in the transportation of bulk liquids for a large Australian manufacturing company.
A simple phone call from our client stating details of the Marshall Lethlean Trailer and the contact details of the vendor was all that was need to grant an approval. As this deal was for an existing customer, we had all details already held on file (ie financial statements and application particulars) which enabled us to process the deal immediately and provide customer with a very quick response. This then allowed them to put down a deposit on the Tankers to secure the purchase.
How did this approval benefit our client?
Up until now, this operator was using their own Prime Mover and towing the Tanker Trailers of the company they are contracted to – therefore the overall rate had been adjusted down. As a result of the client purchasing their own Tanker Trailers – turnover will increase by approx 25% on this particular Prime Mover and B Double set combination. In addition, they will also build up equity in their own Transport business.
Our client provides a mix of Prime Mover and Tanker Trailer combos in conjunction with single Prime Movers pulling Trailers of the company they work for. They always look for the opportunity of purchasing their own Tanker Trailers based on the availability from the company they cart for and based on their ability to borrow as their business grows.
On some occasions Transport operators are not sure they will have the borrowing power to take the next step towards purchasing either their first set or additional set of Trailers. We have a number of tricks up our sleeve to ensure our clients are able to secure purchases of additional Equipment when opportunities arise.
We hope that the positive message about Heavy Vehicle Finance continues to filter through the Transport Industry throughout Australia so we can help more Transport Operators looking to finance Trucks, Trailers and other heavy machinery.
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