If your small business needs a commercial vehicle, yet you are short for cash, you can apply for truck loans. Certain companies need to buy trucks to complete work-related operations such as transportation of goods and services, completing jobs, and more. Read further to find out everything you need to know about commercial vehicle loans to help you decide if it is the best option for you.
What is a Truck Loan
A truck loan, also called a commercial vehicle loan, is a form of equipment financing that allows you to purchase trucks or cars for your business. The car or truck acts as collateral for the loan itself. You will be required to pay back the loan in monthly instalments of the principal and interest amount at a fixed rate. The terms for commercial vehicle loans vary, but they are roughly about seven years maximum. That is great for businesses wanting to keep their vehicle for an extended period.
Why Choose Our Truck Financing
- Credit Concierge offers a fixed rate interest of 2.85%. We can assist any size business including start-ups, with a minimum of one year ABN..
- Get approval for Small businesses with or without Tax Returns & BAS Statements.
- Plan the loan repayments to suit your cashflow and when you get paid.
- Our brokers use Innovative Technology for a faster approval process.
How To Get A Truck Loan
When trying to secure your truck finance, preparation is the most vital step. Here is a list of the following documents that brokers may want to see or could ask for to secure a fast low rate approval:
- Cash flow statements
- Business license
- Driver’s license
- Partnership agreements
- Profit-loss statements
- Bank statements
- Tax returns
With more than 40 bank and non-bank lenders and hundreds of various credit products, we will track down a custom-made finance arrangement. We have a competitive interest rate and the quickest approvals in the market. Our qualified account brokers comprehend business structures, income-requirements and recognize that business in some cases needs a secured business loan to finance expansion and growth. Contact Credit Concierge for a Truck loan today!