Quick & Easy Australia wide truck financing with Realloans.
A dedicated team of independent truck finance brokers serving Australia for over 10 years.
Looking to buy your first truck or want to add a commercial truck to your business’s vehicle inventory? Unless you have a hefty cash reserve, you’ll likely need some type of financing.
Commercial truck loan and financing work differently than a traditional car loan, though, which can make the loan application process challenging.
If you know which lender to go with or what is the requirement for truck financing, we can find the best commercial truck financing rates and get on the road in no time.
Speak to a broker today
Tell us about you and requirement and one of our team members will contact you.
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Experienced & Trusted.
After used or new truck loan, get the advice that is fair and right from VURA Finance brokers. Whether you are after semi truck, tilt tray or truck and trailer, get best rate rate and experience the zenith services. Nothing can really go wrong with the team of expert brokers from VURA Finance.
We provide you guidance based on current industry knowledge, years of experience, and research.
Our business have access to over 30 different lenders, We shop for the best interest rate.
Easy Loan Process
We take a pro-active and personalised approach. We understand that every client and application is different.
I would highly recommend VURA Finance. They went above and beyond assisting me with truck loan. Our broker made everything easy to understand and constantly kept me in the loop the whole time. Excellent service.
VURA Finance is one of the best truck finance company I ever used. Very experienced and talented staff, the best I ever dealt with. Always replied on time. Excellent, well educated , experienced staff Highly recommended. Again I really appreciate your work guys through out the whole process. Thanks again.
Our broker made sure the whole process was seamless. I’ve found him to be very easy to work with and could not recommend him enough. He is very knowledgeable and always answered all my questions promptly. He knows his stuff!
– Evan White
Lender Requirements for Truck Finance
Whether you’re looking to refinance a commercial truck loan, get truck repair financing or obtain new semi truck financing, you’ll need to provide information about the vehicle, the business and yourself.
#1 – Information about the Truck
Unlike other business loans, truck financing lenders need to know the exact details of what you’re using the funding to purchase, including information about the seller and the vehicle.
Commercial truck financing and loans are secured by the truck itself. We need to know basic information about the truck.
- Type of truck – Semi truck, Concrete truck or car carrier truck. Is it new or used truck.
- Year, make and model
- Seller information – Private seller or dealer
Generally, newer vehicles pose less risk to lenders. There interest rate for buying a new truck can better as compared to buying an old used truck.
Buying a truck from a dealer, assures lenders they can truck the condition of the vehicle.
#2 Business details
For business truck financing in Australia, you need to have ABN whether its sole trader ABN or under company, partnership company or trust.
When you’re applying for truck finance, lenders will require documentation that demonstrates you have the funds to repay your loan. You may be asked to submit the following:
- Proof of business
- Business tax returns
- Profit-and-loss statements
- Balance sheets
- Bank statements
If the lender approves of your purchase, they’ll review your documents and assess your fundability, starting with the viability of your business.
Although you could receive commercial truck financing as a first-time buyer, a history of strong revenues and a solid business plan will afford you better rates and higher funding amounts. Experience in the business assures a lender that you know the industry, lowering their risk.
#3 Your Personal Information
Truck financing companies consider your personal history before they accept your application. Since the industry is risky, lenders need to know that they can trust you to repay them.
Some things truck finance companies look for are:
- Current credit score
- Past defaults or bankruptcies
- Lending history
- Criminal background