Below are 5 factors that a Financier considers when setting the interest rate for Truck Finance transactions. If you’re looking for a great deal on Truck Finance, please call us today on 1300 788 740 or for instant Truck Loan Approval please complete our Online Truck Finance Pre-Approval Form.
A cash flow forecast outlines income and operating expenses for a business over the next 12 months. This cash flow forecast is required when a new start business is looking to acquire equipment finance for the first time or an existing business requiring finance to purchase an additional item of equipment – when the current…
What is a Credit Score? A credit score is calculated on information in an applicant’s credit report based on the conduct of any type of loan that they have taken out over the last 5 years. In Australia Banks, Utilities and any other lending institutions access credit reports of an applicant to determine whether or…
Our clients obtain Farm Machinery Finance for a range of machinery for different requirements across the Australian agricultural sector. Below is a timeline showing the history and development of much of this machinery in Australia over the past century.
What is a balloon or residual payment? A balloon payment can be applied to any Truck Finance or Heavy Equipment Loan facility in order to reduce monthly payments and preserve cash for working capital purposes. A balloon payment might also be called a residual or RV depending on what type of loan is in place.…
As seen in previous articles on our site, there are many different factors that impact on truck finance and heavy equipment finance. The world of low doc lending even further complicates this process. Below is list of different low doc funding options available to customers of Heavy Vehicle Finance. Option One – Replacement Finance This…
Unfortunately, some finance brokers / finance companies quote unrealistic or false interest rates to customers in an attempt to make a finance proposal look more attractive than what it actually is. Interest rate is not the biggest influence on monthly payments relating to truck and heavy equipment finance. It is for this reason, that customers…
Clients often call to enquire as to the process and timeframes when obtaining Truck and Heavy Equipment Finance. We have compiled a simple flow chart below outlining our simple application process for our customers.
When we advise clients that payments may not differ greatly between financing an older truck as opposed to a newer truck – they are often quite surprised. Below is an example as to why this may be the case. Asset Type Finance Amount Term Balloon Payments 2004 Prime Mover $80,000 3 years NIL $2,500 pm…
Our office regularly receives phone calls from potential clients seeking information on how to finance a truck when starting a new business. Below is a list of requirements and considerations when looking to finance a truck for those looking to become an owner driver. 1 – Has an Australian Business Number been Registered? Is it…