Apply For A Commercial Truck Loan Today
Informed Asset Finance Australia has all the lenders under one roof. This means that we are able to source the most competitive deal for you from our panel & utilise our specialist knowledge to make the whole process easier. If you have been declined by your bank then we can assist with lenders that want your business! Check out our rates & give us a call for a friendly, no-obligation chat.
Current Truck Loan Rates
Rate for Consumer Purchase
Rate for Dealer Purchase
Rate for Business Vehicles
There are several factors to consider before taking out a commercial truck loan. Interest rates can vary significantly depending on your credit score. Other factors to consider when applying for commercial truck loans include down payment, length of loan, and lender guidelines. Making a bigger down payment will reduce the interest you pay and reduce your monthly payments.
Let Us Help You Secure Your Commercial Truck Loan In Melbourne
The rate of interest for a commercial truck loan is determined by a couple of different factors, including the credit score of the borrower and the amount of down payment. Good credit is usually rewarded with lower interest rates than those for people with less-than-perfect credit. Poor credit will be penalized with higher interest rates, so be sure to check your credit score before applying for a commercial truck loan.
If you have a good credit score and a good business plan, you can often get a loan at 100% of the value of the vehicle. The best commercial truck loans require a down payment, but you may be able to get a lower rate with just a 5% to 15% down. If you have bad credit or an older business with less than perfect credit, a lower down payment might be required. Most repayment terms are capped at 10 years, which is generally aligned with the life expectancy of the truck. But, they can vary based on the business and credit score of the borrower. It is important to remember that the longer repayment term is generally better for a business with poor credit.
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