Get A Truck Loan In Melbourne
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in 3 easy steps we will have you well on your way to getting the financial deal to suit you.
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Apply For A Truck Loan
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
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Rate for Consumer Purchase
from 4.73%
comparison 6.96%*
-
Rate for Dealer Purchase
from 2.85%
comparison 4.43%*
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Rate for Business Vehicles
from 2.85%
comparison 4.43%*
The interest rate on truck loans can vary widely depending on the type of truck you want to buy and the lender. A semi-truck loan with favourable interest rates might range from five to six per cent, depending on your credit history and the type of truck you choose. If you have no credit or have very little business credit, expect to pay a higher interest rate. Lenders typically offer a wide range of loan terms, ranging from twelve to 84 months. However, if you’re planning to buy a used truck, lenders are often unwilling to approve longer loan terms due to the low collateral value.
Need A Truck Loan? We Can Help!
When you are purchasing a truck, you should pay attention to the down payment required. This is a percentage of the total price of the vehicle. This payment is non-refundable and will be used to secure financing for the remaining balance. A substantial down payment will save you significant money over the life of the loan. Some lenders may also offer lower interest rates to customers who make a large down payment.
When determining how much you can afford to pay each month, subtract your expenses from your income. Remember that you should not overextend yourself, as this can lead to financial trouble. However, you can use some cash assets you have set aside for emergencies as a down payment. The larger your down payment, the more flexibility you have in negotiating the loan’s terms. It will also increase your chances of qualifying for financing. When applying for a loan, it’s important to remember that you should not borrow more than you can afford.
Consult Our Truck Loan Agents Today
A large down payment is especially beneficial for those with a low credit score. Since a large down payment lowers the lender’s risk, lenders will be more willing to offer you a truck loan even if you have bad credit. Get advisement from our truck loan experts today!
Get Started On Your Truck Loan Today!
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