Truck financing is a key area of business for Jade Equipment Finance and we have developed, refined and streamlined our commercial truck financing to specifically suit the trucking and transport industry.
We’ve been assisting customers with great truck finance deals for many, many years so we know exactly the different types of businesses operating in the sector and we know how to support each of them with cost-effective finance. From the single truck owner-driver, to medium sized transport businesses to the major fleet operators.
Jade Equipment Finance offers Chattel Mortgage, Equipment Leasing and Equipment Rental for truck financing. The decision as to which finance product is best suited to your business depends on a number of issues: your accounting method, balance sheet strategy, treatment of GST, treatment of tax deductions and depreciation and of course, your financial objectives.
To arrive at the decision as to which finance type best suits both your business and your truck purchase, we recommend you ask your accountant. Your Jade consultant is fully informed on all finance types and will explain the details in plain speak.
Chattel Mortgage: Chattel Equipment Mortgage Loan is by far the most popular choice for truck finance and best suits companies which use a cash accounting method. Only the interest on payments, not the total monthly repayment is tax deductible. GST is charged on any fees and charges but not on the interest and can be claimed at the time of payment.
Truck Leasing: a finance facility where the lender retains ownership of the truck and leases it back to the borrower. Beneficial to operators who are looking to regularly upgrade their fleet. GST is charged on the monthly repayments and can be claimed back.
Truck Rental: often known as an Operating Lease, this is an ‘off-balance-sheet’ finance facility. The lender essentially purchases the truck and rents it back to you over a set time for a set monthly payment.
Fixed Finance Elements
For all our commercial truck finance deals, the interest rate, monthly repayments and the term of the loan are fixed for the loan term. Your Jade consultant will work with you to establish the optimum repayment and loan term that best delivers the outcomes you want for your business.
All our deals feature our cheap interest rates, which we work hard to continually achieve in order to support our customers.
When applying for used truck finance, your consultant can also assist with other details such as checking title and encumbrances and other verification processes.
Speak with a Jade Consultant to discuss a financing solution for your new or used truck. Call 1300 000 003