EQUIPMENT FINANCE TRUCK FINANCE - NEW
EQUIPMENT FINANCE TRUCK FINANCE - NEW
APPLY NOW or CALL 1800 88 LOAN (5626)

Scania P340 2005 XLEP6X20055 Rigid Pantek Truck

Scania P340 2005 XLEP6X20055 Truck Finance approvals guaranteed 180088LOAN Australia wide 24x7
Scania P340 2005 XLEP6X20055 Truck Finance approvals guaranteed 180088LOAN Australia wide 24x7

Weakness's;

- No Financials due to fresh / new company established

- 11 Year old Truck

- Poor work source from small company

- A "New" Pty Ltd Company used (Start up)

- Private Sale
Strength's;

- Property Backing

- Clean Credit

- Good Explanation about default

- Past experience in transport

- Plenty of working capital to fund Fuel, wages etc

Funding Solution;

- 100% Funded (No Deposit)

- Chattel Mortgage

- 5 Year Term with No Balloon Payment

- Low Doc. (Cash flow forecast used to estimate affordability)


In this case, the strengths outweigh the weakness's of the deal and enabled us to get the deal settled.

Some lenders however would require a work letter from a large business with well established premises, website etc. We had to place this deal with a funder whom focus more on the past industry experience of the applicant and the fact that the client has plenty of savings to help them cover their outgoings in the event work slows down or stops temporarily.

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. Wise truckies know that if you want to be successful, you need professionals on your team. It makes sense to engage an experienced truck finance broker to take care of your approvals.

The lender in this deal approved the loan on the condition that secondary security over the clients property is obtained in the event the client defaults or work stops.


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.


Detailed Background on the deal;

Client had been a truck driver all his working life. He sold his business in the past, and has been working Casual as a truck driver for some time. One of his contacts in the industry has approached him to buy a truck & the contracts it comes with. He needed to borrow $66,000. However, the truck was already 11 years old, Private Sale, and to make things harder, he had to start a new ABN – his new business was only 2 days old. These two factors made it difficult to be approved by a major lender. He had 2 properties, however he was not wanting to refinance his mortgages to buy the truck. He did have a work letter, but it was not from a very small Transport company that was working from an acreage property and had no online web presence. 
The client had equity in his properties, and also had working capital to support the application. 
Victor at The Finance Group was able to lodge an application with a Lender who was happy to accept Startup business and the older truck. It was approved for 100% finance.  As a result the loan was Settled, the client was able to pick up his truck before the truck and work contract was sold to a competitor. 

We enjoy a challenge, so if you really want to get into your truck and take control of your destiny, then call us today to get a start on the journey to success.

Victor, Donna and the rest of the team are keen to hear from you 7 Days per week and we will aim to take your call 24 hours per day. Australia wide.

180088LOAN   or 1800885626

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