Do you require a truck loan to purchase or lease a vehicle for your business? Because of the vast size and many uses of trucks in todays modern society truck finance has become a very detailed and sometimes confusing option. For example a courier business may require a fleet of small trucks with a load carrying capacity of 5 tonnes or less; where as a large earth moving company may require a much larger vehicle capable of loads in excess of 100 tonnes. Business, companies or even private individuals have many options open to them when look at leding to purchase a truck. Leasing/commercial hire purchase/hire purchase/managed leases the list goes on!
There are finance/loan options for businesses, companies and private purchaser that have excellent tax incentives. These loans offer a diverse range of repayment options and allow companies or individuals good latitude in choosing the correct finance package to suit their requirements. Truck loans can be arranged generally with a minimum purchase price of ,000 to fleet purchases of in excess of several millions of dollars. This is why you should talk with a commercial truck loan consultant. He will organise the correct finance package best suited to your requirements, either utilising his knowledge of leasing or hire purchase repayment plans from a multitude of Australian lending institutions.
Companies, Business and private individuals requiring a small truck or a larger organisation wishing to purchase semi trucks or prime movers have an obvious need for a commercial truck loan. Our job is to match your individual requirements to the most suitable truck loans lender. We will advise you on what is available in the market place and the finance rates applicable to each option. Once you have decided which plan is suitable for you taking into consideration repayment amounts, residual values, loan terms and fees. Commercial truck loans are easy if you are aware of the pitfalls.
Most commercial truck loans require the applicant to prove their or their companies, business income. This is a common reason for applications being declined. Generally most lenders will accept the following as proof of income payslips, tax returns company tax returns and sometimes contracts to hire from the employer/company supplying the work. However there are certain truck finance options open to businesses and private individuals that do not require an income assessment, this type of loan is known as Low Doc commercial truck finance. Finance brokers specialise in providing factual information about this product. For more information about this niche type of lending and to enquire about lending rates please call one of our friendly consultants now!. Or visit our website which explains in detail low doc truck loans.
Next step to discuss with regards to the loan process is customer service, how helpful and informative is your truck loan consultant? Does he have the industry experience to provide the service he is offering? Talking to your finance broker can have a vast amount of effect on the outcome of you finance package. Tell him if you have past problems with previous commercial truck loans. The finance application and settlement will proceed much smoother if he knows the height of the fences he has to jump before he arrives at them. It is often to late then!
Before your contract documents are signed please check the lending rate, monthly repayment amount, loan term and correct residual value if any. These are common contractual mistakes finance brokers deal with everyday. Some commercial truck loans require the first payment upfront before you pick up the vehicle. The contract document is a legally binding agreement between you and the finance company, once this document has been signed it is to late to change it.
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Source: http://ezbukz.com/consumer-finance-help/finance-loans-in-arlington-tx/
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