Transport Industry Finance

There are a wide range of truck finance solutions that cover most types of heavy vehicles and trailers including:

• Prime movers
• Tipper trucks
• Cab chassis
• Service trucks
• Refrigerated trucks
• Crane trucks
• Service body trucks
• Enclosed trailers
• Tipper trailers
• Machinery trailers, and more

Yes, unsecured overdrafts are available to transport businesses without property security.  Banks will provide overdrafts without property security if a business meets their lending criteria.  Unsecured overdrafts are available from unsecured lenders and there are also line of credit facilities available for transport business.

Yes it is easy to get machinery loans for a transportation industry business.  There are no-doc machinery loans for established businesses for equipment financing up to $500,000.  We can utilise transport finance for older trucks and machinery and there are even loans for startup transport businesses.

The business overdraft interest rate is not fixed and depends on many different factors.  Different banks will have different rates depending on the size and strength of your business.  Unsecured lines of credit will typically have higher rates as an unsecured overdraft compared to overdrafts that are secured by property, however lower rates and no establishment fees are available. 

Yes we have raised capital against trucks to provide the money required for repairs including engine rebuilds and replacement.  The truck loan is just like other forms of equipment finance; provided you can service the loan and a valuer can establish the truck is worth more than the loan you’re seeking, this is an easy process with a number of truck financing lender options, including those for bad credit such as bad credit truck loans .

A revolving limit gives your transport business the ability to finance and acquire assets without the need to apply for equipment finance every time.  If your transport business has an ongoing need for equipment this can save you time but more importantly give you certainty about your capacity to acquire the assets you need to help keep your business growing with loans for trucks.

Truck finance experts make money providing financing for commercial vehicles, trailers, machinery and other assets.  Lenders remunerate experts, which means commissions are only paid if the loan settles.

We can finance any asset, no matter how old it is, provided it still has a useful life.  Whilst some banks have a preference for new trucks and trailers there are a number of lenders who will finance trucks of any age provided it’s being sold by a dealer or a valuer establishes the truck is registered and still has a useful life.

Interest rates vary depending on the lender, your business, your credit rating and the age of the truck you’re buying.  Truck loan interest rates are usually cheapest on newer assets, funded to strong businesses and directors with a good credit score.  However, whilst rates are higher for older equipment, funded to transport business owners with poor credit there are still solutions available even for bad credit truck loans.

No you don’t need to be a property owner to qualify for truck finance.  There are many truck loan solutions available from lenders to business owners who do not own property.

Yes you can get truck finance if you have an ATO tax debt, even if the banks have declined your truck loan application because of a tax debt.  There are many lenders who approve truck loans to business owners with ATO tax debt. In the application process lenders will check that you’re either on a payment plan with the ATO or make sure you’re making some payments.

Yes, you can get a line of credit for a transport business.  There are a range of solutions available including unsecured and secured lines of credit, bank and non-bank facilities, as well as Trade Finance for the supply payments and invoice finance to bring forward the cash flow on your invoices.

As an experienced truck finance expert we can secure trailer loans for all types of trailers including:

• Semi trailers
• Tipper trailers
• Refrigerated trailers
• Freezer trailers
• Pantech trailers
• Side loader trailers 
• Lowboy trailers
• Flatbed trailers

Yes you can get a loan for second hand trailers.  There are trailer loans available for a wide range of secondhand trailers, accessories, tools, machinery and attachments.  As long as there is useful life left in the asset and you can service the loan it is possible to get approved for second hand trailers and other items.