Truck Personal Loan
A Truck Personal Loan is a type of unsecured truck loan, whereby the financier lends you money but doesn’t take any security over the vehicle.
Under a Personal Loan agreement, the financier advances funds to the customer, which the customer can use to purchase a truck. Normally, as the loan is unsecured, the actual loan amounts don’t normally go above $35,000 (there are exceptions to this policy)
The customer takes ownership of the vehicle or equipment at the time of purchase, and must repay the loan to the financier over the agreed terms.
The financier does not hold the vehicle or equipment as security for the loan.
Benefits of a Personal Truck Loan are:
1. Flexible contract terms ranging from two to seven years
2. Fixed or variable interest rates
3. Deposit (either cash or trade-in) may be used
4. A tax deduction is available when the vehicle is used for business purposes (refer to your accountant)
5. Less stringent approval guidelines
6. The loan is not secured against your vehicle or equipment
A Personal Truck Loan is suitable for individuals who wish to purchase a truck or equipment, but they are outside of normal lending guidelines (e.g. older model and low value vehicles) or who do not wish to have a loan secured against their vehicle.
Contact us now, so that we can help you get the finance you deserve.
Once you have your Truck Personal Loan and have purchased a vehicle, you will need to think about insurance. At Truck Insurance HQ we specialise in Truck and Transport Insurance so call us on 1300 815 344 or go online to request a quote.