Truck Loan
Truck lined up and work waiting for it? Whether that is a flat deck for around town, a tipper for the site or a curtain sider for the linehaul run, the finance can move at the pace of the business. With clean credit, approval can take as little as 30 minutes.
- Pre-approval within one working day
- Rates quoted with no obligation
What to expect
Start with the truck
Apply online with the unit you are after and the amount you want financed, whether it is the first light truck on the books or the next heavy addition to an established operation.
A soft check opens the file
The credit check that runs first is a soft one, so nothing shows on your record, and the application goes under review the same day it lands.
Priced by more than 40 lenders
Your figures are put against criteria from over 40 lenders to find the sharpest rate available for the deal, while you keep the business moving.
Sign, and the truck starts earning
Approval sets the rate, repayments and any conditions in writing, the documents are signed electronically with no printing or witnessing, and the seller is paid directly so the truck can get straight to work.
With clean credit, a truck loan can be approved in as little as 30 minutes.
Price the repayments first
Your repayment
*Treat these figures as an estimate only; lending criteria and terms and conditions apply.
From flat decks to logging trucks
A truck is bought to earn its keep, and the lending is arranged with that in mind. The experience here covers financing all types of vehicles and personal assets, from a single light truck through to the specialist units a contract calls for, curtain siders and logging trucks included.
Expanding the business? Funding runs from $3k to $250k and beyond, secured over the asset itself, so the next truck can follow the work that is coming in rather than wait on the cash already in the account.
Cashflow is usually the real question, and fixed repayments answer most of it. The rate agreed at settlement stays fixed for the term, so a changing interest rate environment never redraws the numbers, and repayments can run weekly, fortnightly or monthly to match the way money arrives.
Light and flat deck trucks
Tippers and heavy units
Curtain siders and trailer units
Would the business qualify?
The checks that matter
- You are over 18. Applicants between 18 and 21 should allow for a parental guarantor.
- There is enough income, from the business or from full-time work, to service the debt.
- You hold a full or restricted licence carrying no condition 1.
- The truck can be insured and your identity confirmed, both standard conditions of an approval.
Dented credit is a conversation, and brokers work to no set criteria sheet. One call is usually enough to establish which lenders would consider the deal, the rough rate, and whether it can be made to work. Declined somewhere already? Saying where speeds up the answer.
Faster to talk trucks than fill in forms? Sam answers on 0508 662 456.
Truck loan questions
How quickly can a truck loan be approved?
With clean credit the whole process can take as little as 30 minutes. Reviews happen the day an application lands, and anything in before midday can carry approval within the hour.
Does the business need a deposit?
Not with clean credit. A deposit tends to be requested only where credit is dented or the unit is an older or luxury purchase, and paying one will not buy a better rate.
Will shopping for a rate mark my credit file?
No. The opening check is a soft one, run so your credit takes no damage, and a full check happens only once we have talked.
What rate should the business budget on?
Truck loans start from 7.45%. Credit history and the wider financial position decide the final figure; ask for an indication with your application and it will be emailed through, or we will phone, and a few questions make the estimate very accurate.
How much can be borrowed against a truck?
Lending runs from $3k to $250k plus, secured over the asset, which covers a used flat deck as comfortably as a new curtain sider and trailer unit.
Are the repayments fixed once the loan starts?
Yes. The rate is fixed for the term of the loan, which keeps the repayment line in the budget the same from first payment to last, whatever interest rates do in between.
Could an existing truck loan be costing too much?
Quite possibly. A current truck loan that feels expensive can be reviewed for room to save, and asking costs nothing.
Can the loan be cleared early if a good season allows?
Yes. Early settlement fees begin at just $7, so a strong year can shorten the loan without a painful exit cost.
See what the business could do
The first credit check is always a soft one, so finding out changes nothing on your file, and pre-approval leaves the business under no obligation to proceed.
Truck lending is subject to lending criteria and standard terms and conditions.