Weakness's;

- NO Proven Transport experience

- Fresh ABN / Startup business

- Renting
Strength's;

- $15,000 available for working capital

- Healthy Bank Statements (NO Dishonours)

- Truck only 6 Years old

- Clean Credit

Funding Solution;

- 100% Funded (No Deposit)

- Chattel Mortgage

- 5 Year Term with No Balloon Payment

- Low Doc. We used 3 months bank statements as proof of income.

- Rent to Own Solution used.

The Non-bank funders that we use, consider the Strength's and Weakness's of each deal and if the clients plans make sense overall , they will approve the deal.

Engaging The Finance Group Parramatta as your preferred Truck Finance Broker, we will present your situation and clearly explain any mitigating circumstances to justify negative aspects about your financial situation and emphasize the positive points about your situation and how you plan to ensure you new business or business growth will be a success.

We have over 20 Lenders on our lending Panel and many of the non-bank lender's give people a second chance.

Detailed Background on the deal;

Sam was working a low-paying PAYG office job, and through friends researched that being a Truck Driver as a great way to earn more money to set up his family’s future. He wanted to borrow $95,000 for a 2011 Model Isuzu FTR900 Curtainsider. A work source was already lined up and the company provided a letter of intent to support the finance application. Using other brokers, Sam was declined several times, since other brokers and dealers told him that he needed to have 30% for a deposit for his truck, and he also had too many credit enquiries on his credit file due to previously using brokers who did not have enough experience and lenders who could do the deal first go. 

Luckily Sam saw our facebook add and after a brief discussion and understanding what we do and our large range of Non-bank financiers who have flexible lending policies, Sam agreed to give The Finance Group Parramatta Truck Finance a chance at getting the truck funding approved.

To make matters even more difficult, he had nil time in industry, a brand-new ABN and no property backing – he was a renter. 

Sam did however have $15,000 of working capital and NO  dishonours/overdrawn on his bank statement, a good work letter of offer, and no defaults on his credit file (though the credit enquiries were affecting his overall credit score). By adding his wife as a Joint applicant (to strengthen the application). Victor from The Finance Group submitted the application with a Lender who took into account the profile of both joint clients, and was able to approve the loan for 100% finance and no additional collateral/property required! Sam was able to pick up his truck and start earning double the income that he used to earn.

A couple of months after the deal was settled, we called Sam to see how his truck and contract were progressing. Having now saved a small deposit for a house, we are providing guidance on how he can purchase his first house sometime this year once his deposit is a bit higher, so he can avoid the cost of mortgage insurance.

Another positive point about dealing with The Finance Group Parramatta, is that we also do home loans, commercial and investment property loans and have access to private funders who can help with the most difficult deals.

No matter if you have a good or bad history, we are here to provide assistance as your reliable Truck Finance Broker, please call one of our Team on 1800885626 or 180088LOAN 7 Days per week and we will aim to take your call 24 hours per day. Australia wide.

Alternatively, you can complete the form below and tell us a bit about your goals and requirements.