HOW WE CAN HELP!
If you are a first time borrower or new in business and anyone says “Getting Truck Finance Is Easy” You can pretty much guarantee they don’t know what they are talking about.
Truck Loans up to approx. $50,000 are easy to get approved with some organisations. The problem is they are going to charge you a lot more than an application that is carefully and properly prepared.
Once you reach $100,000 any financier is going to be asking serious questions. Ask yourself this question and answer it honestly. I’ve never had a loan before of any real size and I just started my business today, why would someone lend me $100,000? The answer is unless you can show them exactly how you are going to pay. How you are going to manage bad situations etc., they aren’t going to. A professional finance broker convinces lenders that you can manage any situation.
There are some rules that need to be adhered to;
- 1. Is the truck suitable for the work required?
- 2. Is the amount to be borrowed suitable?
- 3. If something goes wrong, do you have access to cash as a fallback to meet your responsibilities
- 4. What’s your credit history like?
- 5. Is the truck value acceptable, for the amount to be lent?
- 6. Is the business you have or will have financially sound?
Things that will really help your application are.
- 1. Do you own a property asset (home or investment)?
- 2. Have you had credit before for a similar amount?
- 3. Will you contribute a deposit (Trade In or Cash)?