Obtaining Vehicles and Equipment for a New Business
Starting a new business is expensive. An excellent business plan may result in getting all start-up costs covered through loans and grants, but that is not always the case. Filling in the financial gaps for expenses and setup can take time, which hinders the ability to make loan payments on time. One way to get vehicles and equipment is via truck finance.
Basically, truck finance is the practice of a private lender purchasing trucks and equipment for the business. The owner has full possession and use of the vehicles, but the lender holds the title until the last payment is made. It is quite similar to a bank truck loan, only the approval rates are higher and repayment terms can be suited to fit the business model. There are a few ways to finance a variety of transport industry equipment and trucks.
The company offers sales and financing for light and heavy-duty trucks, trailers, tippers, low loaders, and refrigerated vans. An asset purchase, also known as Commercial Hire Purchase, allows the business to have possession and use of equipment. Payments are tax deductible. Ownership passes to the business upon final payment.
Commercial Loans are secured by the equipment purchased. Payments are structured to suit the needs of each business on an individual basis. A finance lease is the same as a regular lease, except the business owner has the option to purchase the equipment outright at the end of the lease. The price of the vehicle or equipment is the residual value amount.
Basically, truck finance is the practice of a private lender purchasing trucks and equipment for the business. The owner has full possession and use of the vehicles, but the lender holds the title until the last payment is made. It is quite similar to a bank truck loan, only the approval rates are higher and repayment terms can be suited to fit the business model. There are a few ways to finance a variety of transport industry equipment and trucks.
Minimum Qualifications
Applications are simple and can be completed online at https://www.robsinclairfinance.com.au/. The business has to have been in operating for over two years. Submitted information that is needed along with the application includes a driver’s license number and Medicare card details, finance accounts and information, and the corporate business structure. Summaries of the years established, major contracts held, work on hand, and current financial commitments are also required.Types of Financing Options
The company offers sales and financing for light and heavy-duty trucks, trailers, tippers, low loaders, and refrigerated vans. An asset purchase, also known as Commercial Hire Purchase, allows the business to have possession and use of equipment. Payments are tax deductible. Ownership passes to the business upon final payment.
Commercial Loans are secured by the equipment purchased. Payments are structured to suit the needs of each business on an individual basis. A finance lease is the same as a regular lease, except the business owner has the option to purchase the equipment outright at the end of the lease. The price of the vehicle or equipment is the residual value amount.
Comments
Post a Comment