If your business is ready to expand or you need to update your existing truck to a new one; Having the right truck for your business is crucial.
We’ve covered three of the many challenges you may face when financing a truck.
Find The Right Lender
Finding the right lender for your business needs is crucial; Are you needing to purchase the truck using no tax returns or do you have full financials? These two factors can determine what bank or lender you need to approach and what type of loan you may receive.
A self declaration or no financial loan can provide funding to purchase your truck with little financial information required, so it is suited for new ventures or business’ which haven’t completed current financials whereas a full financial loan will require at least the last 12 months business tax return to establish affordability for your new purchase.
We provide access to a wide range of truck lending options as we know finance and endeavour to understand our customers unique situation.
Streamline Your Application
Depending on the usage of your new truck, providing up to date documents will help streamline your loan application, meaning you could gain a significantly better and more often, a quicker answer. Documents such as bank statements, accountant letter, tax returns or employment contract can speed up your loan application, leading to a quicker turnaround and less downtime for your business.
Tailor Your Loan Yo Your Specific Needs
Your business is unique and with that so are your requirements. It’s a similar case with truck finance, as there are a wide range of loan products available to suit your business needs, so finding a loan product can be time consuming and sometimes frustrating.
Do you want structured, fixed payments over a specific term? Do you want to rent the truck with an option to buy at the end of the term? or are reduced payments with a lump sum at the end of the loan an option for you? Choosing what type of loan product is suitable to your needs can require general advice from external parties, whether it be your accountant or your financial broker who can outline the pros and cons of each individual product.
We invite you to contact us to discuss your loan requirements so we can create a truck finance product that best suits your needs.
Contact iCREDIT for more details: Email: admin@icredit.net.au Tel: 1300 350 118
Related Tags: Business Loans