Truck Finance: Loans for trucks and trailers

Oak Laurel | Finance brokers 

Need finance for a truck, trailer or whole fleet of them? We can help.


Truck Finance: Loans for trucks and trailers

Truck and trailer finance can be complex. There are lots of different options out there but some will not approve your finance and some others are just a plain rip-off. If you want a finance professional to help you cut through the crap to find you the right finance for your truck(s) or trailer(s) then give us a call or fill in the contact form.

Whether you are a start up business or established business; property owner or don’t own property; we can give you options to finance your truck(s) or trailer(s). No purchase is too big or too small, we can help you finance one small truck or trailer through to an entire fleet of prime movers or semi-trailers.

Oak Laurel can help you to fund your truck(s) or trailer(s) so that you can get on with running your business.


Truck loan

Get a truck loan fast!

A growing business can outgrow its cash flow. If your trucking business wants to capitalise on an opportunity but does not have the capital truck & trailer finance may be the answer you need.

We offer full doc, low doc and no doc options for truck and trailer finance.

Some examples of the types of trucks we can help you obtain finance for:

  • Prime-movers
  • Semi-trailers
  • Dump trucks
  • Recycling Truck
  • Pantechs
  • Crane trucks
  • Flat-decks
  • Refrigerated
  • Truck tractors
  • Tow trucks
  • Tippers
  • Curtainsiders
  • Box trucks
  • Flatbeds
  • Articulated vehicles
  • Concrete transporters
  • Livestock Trailer
  • And much more

 

Don’t see what you want to finance here? We can probably still help you. Contact us to ask us about if your truck is acceptable to finance.

You have a unique business. So we can tailor your truck finance to meet you and your business’ needs.  We will get to understand your needs and then help you to obtain a finance solution that is right for your business.

We can help you arrange the following options to fund your truck or trailer:

  • Chattel mortgage
  • Commercial hire purchase
  • Sale and leaseback truck loans
  • Finance lease
  • Novated lease
  • Operating lease

Depending on where you are in your business (start-up vs well established) or how your cash flows works, different types of funding and different lenders may be more or less suitable. We can guide you to select and obtain the right option for your needs.

We have access to a wide range of lenders including the banks, non-bank lenders and private lenders. We even use some lenders that you probably have not heard of. By having access to different types of lenders, we can often find a truck finance solution that better meets your needs.
Yes, you can still get truck finance with bad credit. Some lenders are more flexible than others and can approve truck loans for people with bad credit. If you have had a few defaults or other adverse credit problems don’t despair we may still be able to help you with a bad credit truck loan.
Yes, we have options for new businesses. You can get financed after having an Australian Business Number (ABN) for as little as one day and no financial records (that are usually required by the banks) to prove income! We can help you get your new trucking business off the ground and operating. Ask one of our finance brokers about truck finance options for new business owners.

It is easier than you may think!

No financials – OK

ABN for 1 day – OK

No other assets for security for the finance – OK

Fast approval – OK

Yes, we can help you obtain finance for a new or used truck. Private or dealership purchases are acceptable. We can also help with unlocking equity (for cash flow or whatever you want) from already owned trucks and trailers via a sale and leaseback agreement.
We can provide quick quotes on finance for a wide range of plant and equipment, for example:

  • Trucks, trailers, buses, forklifts, concrete mixers
  • Earthmoving equipment, including loaders, excavators, backhoes, skid steers, bulldozers, graders, rollers, scrapers, water trucks & dump trucks etc…
  • Agricultural equipment, including tractors, headers, harvesters, silos/storage, dairy equipment etc…
  • Motor vehicles, including passenger vehicles and light commercial vehicles.
  • Manufacturing equipment, includes lathes, CNC routers etc…
  • Free standing office equipment, includes computers, printers, photocopiers, etc…

Is what you want to finance not listed here? Give us a call maybe we can still help!

Different lenders offer different options and at different cost to you as the ‘borrower’. Depending on your circumstances the cost of finance will be different. Typically cost is determined by the following factors:

If you purchase your truck or trailer through a dealer it will need less paperwork and settle faster than if you purchase your truck or trailer privately.

The best rates are for truck and trailers that are 5 years old or less at the time you purchase and finance it. Older Trucks can also be financed but cost of finance will be higher because of the increased risk due to its age.

Cheaper finance can be obtained for business that have been operating for many years, have 2 years financial statements (ATO tax returns, BAS statements, accountants’s letter, bank statements showing income) and have assets.

If you have bad credit or adverse credit it will be harder and more costly to obtain finance.

Sometimes a risk premium can be added to client’s interest rate if the deal is deemed marginal based on servicing or risk of the particular age or type of Truck.

The process of financing a truck or trailer is fairly straightforward and is described below:

Step 1:

Our finance broker will contact you and discuss with you about you and your business’ circumstances and finance needs. This includes what work you do, the type of equipment you want to finance and how long you have been in business.

Step 2:

Your Broker will assess your borrowing capacity and the type of finance required (full doc, low doc or no doc). This will be dependent on if you have

  • financial statements;
  • ATO tax returns;
  • BAS statements;
  • An accountant’s letter;
  • Business bank statements available for the last 3 months showing income; or
  •  None of the above.

Step 3:

Your relevant documents (ID, ABN registration, financials if applicable, etc…) will be collected by your finance broker.  Your broker will be in position to identify different options for you to choose, complete a finance application and obtain a finance offer for you that suits your needs.

Step 4:

Your broker requests an invoice from the seller of the truck or trailer and organises for an inspection if required.

Step 5:

Documents are prepared and sent to you for signing either via email or in person.

Step 6:

The finance is referred for settlement, the seller of the truck or trailer is paid and you can then pick-up the truck or trailer!

Step 7:

Post settlement paperwork is sent to you with a copy of the seller’s tax invoice and the contract so you can provide this to your accountant for tax purposes.

If you want real help to get truck finance or a truck Loan, discuss your needs with an Oak Laurel finance broker today. Your approval and the terms and conditions of your loan will in many cases be based on knowledge and skills of your finance broker. Our brokers really care about helping you find finance that will meet your needs and will go all out to get you what you need.

Commercial vehicle loan

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Do you need truck finance?

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