The truck manufacturing industry globally has long shown leadership and initiative in regards to addressing the issue of reducing carbon emissions. Euro 5 and Euro 6 compliant trucks are standard across many leading brands and the industry is continuing to make significant advances in technologies to ensure the trucking industry does its part to reduce carbon emissions.
The world is moving quickly toward a low carbon future and while Australia is considered a slow adopter of electric cars, the move to electric trucks is underway internationally. Hino has launched an electric-diesel hybrid in Australia in its extremely popular 300 Series. From 2021 Volvo Trucks is offering a complete heavy duty range with electric drivelines in Europe. No doubt Australia will follow the global trend but some observers have commented that the lack of infrastructure to support EVs may be hampering take-up and calls have been made on Government for support and action.
But even before the transition to EVs has reached any great momentum, attention is turning to hydrogen powered trucks. Leading engine manufacturer Cummins has already announces its intention to become a ‘hydrogen powerhouse.’ Hydrogen technologies including electrolyzers are tipped to be an increasingly more significant part of the business in coming years.
In a recent major announcement, a number of massive European companies have formed an alliance to push for a large-scale rollout of hydrogen powered trucks in Europe. The H2Accellerate alliance is comprised of Daimler Trucks, Iveco, Volvo and others and has far reaching plans for charging infrastructure and hydrogen fuel cell truck production targets.
Closer to home, Australian company Globo Hydrogen Power offers truck owners a fuel enhancement system which upgrades traditional powered engines into hydrogen hybrids.
As the transition takes place, certain truck operators might already be contemplating the potential effects of these upcoming technologies on truck loans. Do truck loans vary in terms of cost and conditions for these novel technological vehicles?
At Jade Truck Loans our approach to the truck finance market is that we offer the same truck loan products and the same tailored finance solutions across the entire truck market. We have embraced developments in the truck manufacturing sector over our decades in the lending business and intend to continue delivering cheaper truck loans to support our customers.
Truck Loans Options
At Jade Truck Loans, we offer a comprehensive selection of loan products designed to cater to our customers’ truck purchasing needs. You have the flexibility to choose the financing arrangement that aligns best with your business setup, allowing you to attain your financial and business goals effectively.
- Chattel Mortgage for truck & trailer finance
- Truck leasing
- Commercial Hire Purchase
- Truck Rental Finance
Each of our truck loans provides a tax advantage, although the timing and method can differ within the financial year. It is highly recommended to collaborate with your accountant to determine the most suitable option for your business needs.
Interest rates differ due to the unique characteristics of each loan category. To simplify the process of comparing, we have introduced a user-friendly loan comparison calculator. This tool enables you to swiftly assess our present interest rates for all our offerings. By inputting your loan amount and preferred repayment duration, you can obtain an approximate repayment estimate.
Despite variations in some aspect of each loan type, our loans all have similarities in regard to:-
- Cheap and fixed interest rates
- Fixed loan terms, individually negotiated for each application
- Fixed loan repayments so you can plan your cash flow
- Option for a balloon or residual
- No deposit finance on all loans is possible
- Low Docs, ABN and No Doc truck loan options available
- Pre-approved truck loans available
- Quick quotes, fast loan approvals and prompt settlement
Loan Determining Factors
When evaluating a truck loan application, individual lenders will employ their own sets of guidelines and prerequisites. Jade holds accreditation with multiple lenders, including major banks and specialized non-bank lenders focused on truck financing. As a result, we possess a broader array of options for securing the most favorable deals for our clients.
The specific details about an applicant serve as the primary determining factors regarding any special terms a lender might impose on a particular loan. This is especially pertinent in the case of Low Documentation, No Documentation, and Australian Business Number (ABN) truck loans. Furthermore, financing for older, pre-owned trucks could also be considered.
While our interest rates for truck loans remain consistent, the conditions pertaining to loan eligibility may differ based on the application. We consistently update the interest rates that can be attained on our truck loan offerings on our website. This allows you to stay informed whenever you contemplate a new truck acquisition.
Individual Loan Solutions
Jade Truck Loans is dedicated to aiding the transportation sector, as well as other truck proprietors and operators, in managing expenses by offering affordable truck financing for all categories of trucks and various fuel systems. We are actively monitoring advancements in the hydrogen and other alternative fuel domains by staying connected to truck industry news outlets. As we acquire fresh insights, we will be releasing new articles to keep you informed.
To discuss your truck finance requirements, contact Jade Truck Loans on 1300 000 003.
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