Trucking and Transport: Keys to COVID-19 Recovery

As the coronavirus health crisis shows encouraging signs of being suppressed, governments are turning to increasing talk of recovery. We’re particularly encouraged for our customers by the direction those talks are going. But we also hear the word ‘complacency’ more often in the narrative and we want all our customers to avoid it.

Don’t be complacent, don’t wait for things just to happen. The smart operators will be listening closely to what governments are saying now, interpreting the message for its implications for their particular business area and planning well ahead of the recovery curve. Those plans should include taking action now so you are ideally placed to make the most of opportunities the moment they emerge.

For many businesses that will mean investing in new trucks to cater for new opportunities and at Jade Truck Loans we’re ready right now to support you with great truck finance deals. Whether you’re a large operator, SME, owner-operator or sole trader and even if you have no docs or low docs.

While the initial reaction to the coronavirus by lenders was extreme caution, the situation has improved with a relaxation in some of the stricter guidelines. This is particularly good news for those hoping for a low docs or no docs truck loans to kick-start their business post-COVID-19.

Work Prospects

While you might be able to see prospects for new work within your existing customer base, others might be looking for the signs of recovery in other markets, for where that recovery will be driven and how they can be part of it.

Here’s a few of our observations and summations compiled from following the analysis and announcements around the coronavirus pandemic:-

  • Experts analysing consumer buying trends during the lockdown envisage that some home delivery services will likely continue at higher than pre-COVID levels as they expect that type of human behaviour to continue.
  • Reading the financial news may seem like a laborious task, but it can reveal useful information on consumer buying trends which may point you in the direction of work for your truck.
  • In the residential building sector, working from home and an extended time in lockdown in a small apartment is leading some to consider there could be a call for changes to apartment design. Specifically, people wanting larger overall space, more outdoor area including balconies and space for home offices. While this may affect new developments in the future, it may also lead to a boost in the home renovations market in the short-medium term.
  • Builders and tradies could be set for a spike in smaller jobs with possible orders from home owners who didn’t quite get to finish those DIY projects they started in lockdown.
  • On the larger scale project scene, both federal and state governments have flagged infrastructure spending as a major driver for the recovery phase. Many projects will be brought forward to create jobs and some private, residential developments are being fast-tracked through some planning.

While there appears to be encouraging work prospects for truck operators post-COVID-19, there is also many projects in construction still underway and to be undertaken as part of drought relief and bush fire recovery. Construction in bush fire ravaged regions is continuing with thousands of homes and properties to be rebuilt.

Think outside the square and line-up your prospects. Plan what vehicles you will need to handle the workload and get started. Keeping in mind that if you are considering the purchase of a new truck, possibly customised to suit your application, you need to allow sufficient time for the manufacturer or dealer to build and prepare your truck for delivery.

Lending Prospects

Jade Truck Loans has been ‘business as usual’ throughout the coronavirus crisis, riding the waves of fluctuations on several fronts. The great news for borrowers on the interest rate front. The initial tightening by banks and lenders followed by a relaxation. An optimism as businesses prepare for recovery.

Particularly in Business Finance - Commercial Loan Options, some of the most encouraging news is directed at truck buyers seeking low docs or no docs loans. Changes in these loan types have been among the most significant. So, even if a bank has turned you down recently, we urge you to reach out. With our expertise in commercial loan options, we might be poised to assist you.

As a leading broker in the truck finance market, we are up to date on a daily basis on which lenders are extending the best deals.

During difficult financial lending times, our role as a finance broker becomes even more important than ever and fully appreciate the significance to our customers of supporting their business objectives with cheap trucks loans.

If you are in the market for a truck loan to take advantage of the prospects for your business in the COVID recovery phase – please give us a call 1300 000 003