Brisbane Truck Show Updates and Timing for Truck Finance Approvals
The Brisbane Show is the leading event for the truck and transport sector and many big names have already been confirmed as exhibitors. As the weeks unfold to the opening in May, organisers are releasing regular updates on what visitors can expect to see by way of new products, innovations and services.
We catch up on some of the latest updates and advise when operators should start talking to us about getting their truck finance approved in readiness to order/buy at the show. The event will be held 18-21 May so under 2 months to get plans in place. Remember, the Easter break, school holidays and the Anzac Day public holiday will all occur in that time and could cause you delays in one form or another. If you do get to the last minute, Jade Truck Loans will be available for fast truck finance approvals.
Truck Trailer Axles from TMC
TMC Australia will be showcasing a comprehensive range of trailer axles at the Brisbane Truck Show. Of particular note, the company’s locally develop unitised hub models. These are developed for disc and for drum brakes and all sized wheels.
TMC’s focus is less down time, lowering costs over the life cycle and extending service intervals with its axle range.
SEA Signs Landmark Deals
SEA Electric, considered a pioneer in electric vehicles will be at the show and has recently signed what are considered landmark deals. The deals are for supply of their SEA-Drive power system to both Hino Trucks and Mack Trucks.
The company started in Australia but now has its headquarters in the USA. The partnerships with Hino and Mack are with the US arms of the companies. Operators interested in transitioning to EV power, can read the full story at the Brisbane Show website.
Unveiling from Cummins
A new engine from Cummins Diesel will be unveiled at the Brisbane event in May. The company said it is the most advanced big bore diesel ever. The new X15D 15 litre platform delivers highest-ever outputs as well as extremely low emissions.
According to the Director of On-Highway Business for the company, Mike Fowler, this new platform elevates the internal combustion engine to the next level. Making it capable of complying with future emission standards with a ‘low-to-zero carbon fuel capability’.
According to Cummins, the Australian release for the X15D is not set as yet. Operators interested in this new engine should earmark visiting the Cummins Diesel stand at the truck show in Brisbane to discuss launch dates.
Brisbane Truck Show Exhibitors
The list of exhibitors is posted to the event website. Operators keen to order new product at the event can review the listing and do their own pre-show research to get closer to purchase decisions. In the truck and engine manufacturers and distributors, the exhibitors include Cummins Diesel as already noted, Hino, Hyundai, EV Automotive and HDrive amongst others.
Trailer, tanker and body manufacturers are well-represented as are technology companies. To be in an ideal position to place an order, operators can discuss finance with us at any time prior to the show.
Timing for Pre-show Finance Approval
Operators intending to place new vehicle orders at the Brisbane Truck Show can speak with Jade Truck Loans about getting approved for finance prior to the event.
Getting approved prior to purchase involves the same application and assessment process as when a loan application is submitted after the goods have essentially been bought, as in a decision made to buy. The same selection of Loan Divisions is available and the lender assessment of the application in regard to the interest rate in any offer also applies.
Operators requiring Poor Credit Truck Finance options are also welcome to discuss pre-approved loans with us. The same criteria for loan approval for these types of applicants apply to pre-approved finance.
Truck Finance Product Considerations
The selection of which is the right truck finance product depends on the accounting method used by the business, the approach to tax and the business balance sheet and other financial objectives. In making this decision, we recommend operators refer to their accountant.
Tax deductions are an important consideration when selecting the most suitable truck loan. The timing of the Brisbane Truck Show in late May will likely not suit operators that are looking to realise the tax benefits of temporary full expensing. The deadline for that tax measure is 30 June. In order to be eligible, the assets being acquired must be operational in the business by that date. Operators would need to move swiftly and ensure the assets were available for immediate delivery to meet that timeframe.
But all Commercial Heavy Vehicle Loan products do offer tax deductions with variations across the selection.
Calculating Loan Estimates
When using a finance calculator to obtain rough estimates for purchases to be made say in May, consideration should be made for further interest rate increases. The show is scheduled for late May and the RBA Board is due to meet to make decisions on the cash rate in both early April and early May.
At its March meeting, the Board indicated that further rises would likely be required. But a pause in rate rises was also indicated as a possibility. The timing of either of these is not known.
A range of interest rate variations can be input when using the finance calculator to get a range of repayment estimates for budgeting purposes.
To discuss the best timing for when to submit an application for finance in order to purchase at the May truck show, contact us to get in touch with Jade.
If you're starting a new business and need financing, consider our Truck Finance for New Business options to help support your startup.
Contact Jade Truck Loans on 1300 000 003 for pre-approved finance in the lead up to the Brisbane Truck Show.
DISCLAIMER: THIS INFORMATION IS ISSUED PURELY FOR THE PURPOSE OF GENERAL INFORMATION PROVISION. IT IS NOT TO BE TAKEN AS THE ONLY SOURCE OF INFORMATION FOR BASING FINANCIAL DECISION-MAKING. THOSE REQUIRING FINANCIAL GUIDANCE AND ADVICE SHOULD CONSULT WITH THEIR FINANCIAL CONSULTANT OR ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY MISREPRESENTATION OF POLICIES, DATA OR ERRORS IN THIS CONTENT.
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