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What is Truck Finance?

As the name implies, truck finance is a form of commercial or business vehicle finance. Enterprises involved in transport, manufacturing, supply chain, logistics, eCommerce, etc often require heavy-duty vehicles like a truck to transport or move goods or products from one place to another. These vehicles tend to be quite expensive, and not all business owners have the financial affluence to buy them or lease them with cash or capital. When confronted by such a financial dilemma, many enterprises opt for truck finance to buy the vehicle and use it for business purposes only. 

Truck finance helps enterprises fulfil their business goals and obligations by buying or leasing the vehicle through financing. It is beneficial for enterprises, as the truck counts as the company asset. 

Are you interested in buying or leasing a truck for your business? Feel free to reach out to Broc Finance. We are the leading finance brokers of Australia, aiding and supporting enterprises big and small.  

Things to Keep in Mind When Applying for Truck Finance

There are a few things to keep in mind when applying for truck finance:

  1. If yours is a new business, then the lender might ask for a deposit of 20%. However, there are few lenders who can offer loan without any deposit, be it an old or new enterprise.
  2. Under the following circumstances, there will be no need to furnish proof of income;
  • ABN for two years.
  • Applying for a loan amount below $300K.
  • Buying a new or used truck from a dealer.
  • In case of replacement commitment, where the amount does not exceed 25% of the initial loan amount
  1. There is the option of both no doc and low doc loans in case you have an issue with documentation. Don’t hesitate; we can help.
  2. You can expect the best rates against trucks that are not more than 5 years old.
  3. You can escape extensive paperwork when getting the truck through a dealer instead of buying it privately.
  4. If you are in business for 2 years or more, you can expect competitive rates and better financing deals.
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How Can Broc Finance Help?

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Broc Finance facilitates business financing solutions for businesses looking for fast access to funding concerning truck or any asset finance. We closely work with the top lenders across Australia, with whom we connect on behalf of the borrower seeking financing solutions that meet the business owner’s need. 

Our team is comprised of knowledgeable and experienced professionals who leave no stone unturned to find the best loan products for our clients. Over the years, we have helped business enterprises of all stature. However, our prime focus remains on uplifting and supporting the SMEs, as they face the most difficulty when securing funding due to an array of issues like minimal documentation, bad credit history, minimal trading history, and likewise. 

Why should you choose us?

  • An unscathed record and market reputation
  • Fixed rates and flexible loan terms guaranteed
  • Access to multiple lenders owing to an extensive network across Australia
  • Solutions that assure continued growth of businesses with cash flow boost
  • Fast access to funds within 24 hours
  • Access to funds with low credit score and minimum documentation

For any further queries, feel free to reach out to our experts. We will be more than happy to guide you through the process of your truck finance. 

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