Truck Finance

TYG Finance offers a fast, easy, and credit-check free (have to do checks) way to apply for a truck loan. Whether you’re on the lookout for trusted, reliable semi truck financing companies or quick pick up truck finance for your trucking business – we help everyday Australians and businesses of all sizes, regardless of their credit history, find the best low-rate truck loan.  We understand the new and used truck market to ensure you get the best truck finance deal available through our network of boutique and major finance partners. Contact the expert truck finance team at TYG Finance today on 1300 885 806.

FAQs

How to get truck finance?

It’s easy to apply for a new or used truck loan with TYG Finance – our friendly business truck loan team is happy to help with any questions and guide you every step of the way. Don’t delay – get access to the best truck finance deals online on 1300 885 806 or contact us online now.

Can I lease a truck?

Yes – there are also few options available in addition to a lease when applying for business truck finance:

  • Operating Lease – similar to a rental agreement, free up capital otherwise tied up when purchasing an asset outright. The truck is returned at the end of the lease.
  • Finance Lease – the truck is purchased by the company offering the finance lease and you pay monthly instalments/rental payments towards the balance owed on the truck. When the lease term is up, you may have the option to purchase the truck, trade it in for a new one, or refinance the remaining (residual) value of the truck and continue the lease.
  • Chattel Mortgage

Generally, you may benefit from various types of tax deductions for the above financing options if the truck used to generate income, this will depend on the tax status and circumstances of your business.

NOTE: It’s important to seek advice from your Accountant to confirm the tax benefits apply to you and your business.

Can I purchase the truck at the end of a lease?

If you want to own the truck at the end of the loan, you can look into a finance lease, chattel mortgage or commercial hire purchase (more info about the last two options below).

What other truck financing options are available?

  • Chattel Mortgage – a type of finance mainly used by businesses that use the ‘cash’ method of accounting for GST. You can finance the full amount of part of the value with a deposit. Similar to a home mortgage where ownership only transfers to you after completion of the finance term, the chattel mortgage allows the GST part of the truck purchase price to be deducted on the next Business Activity Report of the company, instead of claiming the GST during the duration of the mortgage agreement.
  • Commercial Hire Purchase – similar to a Finance Lease in operation but a downpayment is usually required (lender-dependent) and the hirer (you) pay off the total amount of the value of the truck in instalments over a period of time. After the last instalment, you own the truck outright.

Generally, you may benefit from various types of tax deductions for the above financing options if the truck used to generate income, this will depend on the tax status and circumstances of your business.

NOTE: It’s important to seek advice from your Accountant to confirm the tax benefits apply to you and your business

How to get a truck loan with bad credit/I have bad credit, can I still apply for a truck loan?

TYG Finance has helped countless trucking businesses with bad credit acquire finance for the new and used truck purchases. Depending on the lender, a business truck loan may not need financial documents or credit checks to be lodged and “officially” marked on your credit file as a credit request or query.

We understand bad credit and how it can affect someone’s livelihood, especially as an owner-operator. That is why our experienced business truck finance team ensures that no documents, applications, credit checks or background checks are lodged first discussing it with you.

Can I get a truck loan with no deposit?

Yes, depending on the type of business truck finance you’re looking for, we can find a lender who can offer you a truck loan with no deposit or down payment so you can keep the capital and free up your cash for other business needs.

Can I get trucking business financing as a self-employed sole trade and operator?

Yes, the business truck loans through TYG Finance are specifically tailored for small businesses and sole traders who are self-employed.

How much can I borrow for a boat loan?

TYG Finance can source business truck loans from $25000 up to $500 000.

I need a trailer, tanker, curtainsider, etc for my trucking business. Can I get a loan for that?

Yes – we specialise in all types of business asset financing. Our team can help you secure finance for all your truck business equipment needs.

Are there tax benefits I can get from financing a truck?

Some key benefits include:

  • The GST may be claimed upfront as an input tax credit*
  • The interest and depreciation may be claimed on the asset throughout the duration of the ‘mortgage’*
  • All running costs of asset may be claimed*

*NOTE: It’s important to seek advice from your Accountant to confirm the tax benefits are applicable to you and your business

Can I get truck finance for a used truck?

Yes – TYG Finance can help you get a truck loan from our specialist truck business finance companies for a new or used truck.