Jade Truck Loans FAQs

All types of business and all business entities and structures can apply for truck finance. Specifically including are sole traders, partnerships pty ltd companies, public companies and large privately-owned corporations. The goods must be used predominately for business use (more than 50%). So to be eligible an applicant must be a business entity. The minimum requirement to be eligible for business finance is to hold a current ABN.

Most common loan terms for trucks are between 3 – 5 years or 36 – 60 month terms. The length of the loan term changes the monthly repayments: shorter term means higher repayments but the loan repaid faster and longer term means lower monthly repayments but longer to repay the loan and own the truck. Balloon or residual payments maybe offered as a bulk payment at the end of the term or interest only amount of finance. This can reduce your repayment.

Customers are advised to consult with their accountant or financial advisor to decide which of the loan types they should opt for with their truck loan. The loan types are varying elements in regard to treatment of GST & tax benefits. They include Chattel Mortgage, Leasing, Operating Lease, Commercial Hire Purchase (CHP) and Rent to Buy or Rent to Own.

Essentially, all types of trucks can be financed for just about every type and brand of truck on the market. This includes leading manufacturers such as Scania, Volvo, Mack, Iveco, Isuzu, Kenworth, DAF, Freightliner, Mercedes-Benz, UD, Hino, Western Star and others. We finance light, medium and heavy duty trucks with a wide range of body types including: rigid, semi trucks, B-doubles, crane, refrigerated, car carriers, livestock transporters, tippers, agitator, pantechs, prime movers, water trucks, dump, curtainsiders, tray table, tankers and many others. Some lenders will not finance prime movers or interstate haulage but there are many lenders that do. Other banks and lenders may have age of asset restrictions.