Truck Finance Interest Rates
Getting Truck finance can be a tricky exercise as many trucks are specialized and can be worth hundreds of thousands of dollars. So how do you work out which lender will give you the finance for the truck you want? Will it have the right terms (including Truck finance interest rates) with minimal fees?
One of the most negotiable parts of truck finance is the Interest rate. The interest rate can go up or down depending upon a multitude of reasons. Some of these reasons could include,-
1. The age of the truck (the newer the truck, the more favourably it is looked upon)
2. The creditworthiness of the borrower (any credit defaults?)
3. Whether the borrower is asset-backed by real estate (which lowers the risk)
4. Conduct of existing debts (no dishonours or late payments)
5. If the borrower is an existing client of that lender
6. How long the borrower has been in his/her business.application – the higher the interest rate… Whether you are in a good position or in a difficult position to get finance, as credit advisors and Brokers, we have a good chance of finding the right solution for you through one of our many lenders around Australia.
If you are in a good financial position OR if you are in a poor financial position, contact us now for a no-obligation consultation.