We have a streamlined, simple process to help customers gain truck finance.

Items that will be needed to help your loan proceed smoothly are:

1. Completed Loan Application 
2. Photo ID (Driver’s Licence or Passport)
3. Privacy Consent (This is sent to you electronically to sign)
4. (optional) Financials, Business Activity Statements (BAS) or Bank Statements
5. Social Media / Marketplace post or name & contact number of the seller

Once we have approved your truck or trailer loan, your next step is to provide us the name & phone number of the private seller you’re talking to.

We’ll make contact on your behalf and will arrange the loan paperwork for you to view.

Traditionally truck finance is offered as either a Chattel Mortgage, Lease or Unsecured Business Finance is also available to allow for purchases of trucks and trailers to assist in your business.

Financial Lease options are offered either as a Full Doc (Tax Returns) or Lite Doc (No Financials) however remember, the more information you can provide, the better result you can get. Although you can secure a chattel mortgage loan with very little financial information, providing up to date Tax Returns, BAS or Bank Statements can offer a wider range of lenders to choose from.

No deposit is usually required for a financial leases and as long as you work around your budget, you can borrow for extras if needed such as loan protection cover, truck warranty or insurance.

Adding a deposit however will reduce the loan amount required, monthly repayments and total interest payable.

As long as we have the correct information including income, you could have an answer the same day.

Yes, there may be taxation benefits with financing through a business truck or trailer.

Some benefits include:

1. Loan Repayments – As you are ‘leasing’ or ‘renting’ the truck or trailer from the lender, your monthly loan repayments can be tax deductible.
2. Goods and Service Tax (GST) – You could claim the GST credit when purchasing a truck for commercial use if buying privately from an ABN holder.
3. Interest Repayments – You could claim the annual interest paid on your Chattel Mortgage as a deduction in your tax return.
4. Depreciation – Every year you have the truck or trailer the value depreciates. You could claim the depreciation as a tax deduction.

You should consult your tax professional regarding Financial Leasing benefits.

Our service is obligation free, meaning if this is not the right time for you to be purchasing a truck or trailer or you simply change your mind. There is no cost and your loan is shelved.

Should your circumstances change and you want to reopen the approval, the process is relatively easy which will save you having to restart the entire loan application again.

Unless your nearby the truck or trailer and can inspect the asset yourself, buying from Social Media sight unseen can come with some risks. If possible, try to inspect the truck or trailer yourself or if it’s being sold interstate, arrange a certified inspector to provide an inspection report.

Things you should consider when buying a truck or trailer through social media.

1. Get photos of the asset, including odometer reading and compliance plate. This way you can check the truck through the PPSR to verify the details.
2. Arrange a mechanical or visual inspection of the truck or trailer. This can be done through a number of online inspection platforms including Red Book, Verimoto, Olasio.
3. Verify the ownership details. Registration Papers are not enough
4. Check the PPSR to make sure the truck does not currently have a loan secured against it, is stolen or a repairable write-off.

All of these items are covered through our service to ensure peace of mind when purchasing a truck or trailer through Social Media.