Brisbane is in the southeast corner of Queensland, Australia; it is centered along the city river.

Brisbane, port, capital of Queensland, Australia, and the country’s third largest city. It lies astride the Brisbane River on the southern slopes of the Taylor Range, 12 miles (19 km) above the river’s mouth at Moreton Bay.

Around three-quarters of all truck purchases in the UK involve some sort of credit funding.  Rental companies, rather than typical operators, account for the most of the remaining quarter that are outright (cash) purchases. This confirms that the vast majority of truck operators need access to credit finance of one kind or another.

Quite apart from the ins and outs of the various types of finance, there are two fundamental issues.  Is credit available and if so, how much will it cost? Both hinge upon your ability to repay the debt, with the overall cost likely to be lower for those deemed a lesser risk.

However, some companies may struggle to find funding of any kind because the availability of finance – at any price – has decreased since the financial meltdown that started in 2008 and turned into double-dip recession.

How to Truck Finance Brisbane

Truck finance Brisbane allows you to borrow funds that will be used for the purchase of a new or used truck. Much like car finance or a home loan, repayments are made regularly until the loan has been fully paid off.

This allows truck buyers to spread the cost of their purchase over a period of 1-5 years. The lender will charge borrowers an interest rate.

Truck finance options include a chattel mortgage, finance lease and small business loans. It’s available through banks, non-bank lenders, vehicle finance brokers and vehicle dealerships. To be eligible for truck finance, your business must meet several criteria, including having an ABN and being registered for GST.

1.Determine your Budget

Before applying for your truck loan, you should work out a budget. You can search the range of trucks for sale to get a clearer idea of how much will be required for the purchase. If you are intending to make a deposit on the truck, you can subtract this from the total purchase price to get the total amount you will need to finance.

2. Contact a Broker

A finance broker like Credit One will be able to assist you with your application for truck finance. It’s best to go to a brokerage that has specialist heavy vehicle finance brokers as they will better understand the industry and your requirements.

Brokers like Credit One have access to a large panel of lenders that they can organize your loan through. This means they will be able to match you with the lender that offers the best loan for your circumstances.

The broker will look at your circumstances to make sure you are eligible for financing. If you are eligible, they will collect the documentation required from you that is needed to submit your application to a lender.

3. Final Steps

Once you have received approval for your loan you can move forward with your truck purchase! If you have received a pre-approval, you can begin shopping for your truck, knowing how much you can spend on the truck.

If you have already chosen your truck, the lender will transfer the funds required to complete the purchase.

At the time of finance settlement, you will be provided with loan documents to sign. Once everything is finalized, the truck seller will receive the funds for the purchase and the truck is yours to drive away in!

Types Of Trucks You Can Finance

Truck loans can generally be used for most heavy vehicle purchases including:

• Prime movers
• Tipper trucks
• Cab chassis
• Service trucks
• Refrigerated trucks
• Pantech trucks
• Crane trucks
• Service body trucks