Business.Finance offers workable truck repair loans to get vehicles back on the road and working faster, without the stress on cash flow of high repair costs. The cost of major services on heavy vehicles, the expenses of dealing with unscheduled breakdowns and accidents, and upgrading to meet compliance requirements, can be a major blow to many businesses. Affordable financing is available to cover many of the expenses involved in repairing, maintaining, and servicing heavy vehicles. Financing that can ease the stress on cash flow and ensure vehicles are working and producing revenue as soon as possible.
The benefits of financing repairs at competitive rates can be extremely advantageous when compared with the potential costs and impacts of waiting until the cash is available. Impacts such as loss of revenue and profit, impact on customer base, image and reputation of the business, missing opportunities for expansion and new contracts, and in the productivity of the operation.
Financing repairs can cover a range of work, parts and labour and be provided with secured and unsecured business loans and with lender overdrafts. Consider what is available and speak with us for a package specifically sourced and structured to meet your individual requirements.
Finance Parts, Labour & Upgrade with Truck Repair Loans
Many heavy vehicles will require some type of major work, scheduled or unscheduled, body or mechanical, during their operational life. Many of these types of expenses are not covered by manufacturer warranties or by insurance policies. A wide range of these types of servicing, maintenance, repairs and upgrades can be funded with business financing.
Typical works include an engine recondition; smash repair costs which are not covered under the insurance policy; tyre replacement; major services; installing new tech and safety systems; installing components for increased engine efficiency; major parts replacements; meeting compliance rules; and conversions to alternate fuel systems.
Financing may include the total cost of the works with labour, consumable and parts, or just the major parts. The work may be carried out in the operator’s own facilities, through a dealership service department, or by an independent workshop. Maintenance, repairs and service on all types and makes of heavy vehicles may be financed, including for Kenworth, Volvo, Mack, Isuzu, Fuso, Scania, and others. Repairs may be for the cab, chassis, and/or trailer.
Finance packages can be structured to suit work on one vehicle or to cover the expense of upgrading systems across an entire fleet. If wondering if work you require is eligible for financing, give us a call for quick confirmation.
Versatile Finance Products for Truck Repair Loans
We provide a number of versatile credit products which can be individually sourced and structured to cover expenses incurred in the servicing and maintenance of heavy vehicles. The choice of the most suitable credit facility may be determined by the funding required, the preferred repayment period, or individual preferences.
One of the most flexible options is a Lender Overdraft. This is a versatile form of commercial credit which can be used for many business expenses where no collateral is available to secure the funding. We arrange overdrafts through our non-bank lenders, with competitive rates and workable arrangements.
While interest rates on overdrafts are higher than secured business loans, interest only accrues on the funds used and only for the time fame used. This allows business owners to pay down the commitment to suit cash flow. The term may be established for a short period or as an ongoing line of credit.
Business Loans are another option for consideration. Secured loans may use other forms of collateral as repair works would not be considered suitable forms of loan collateral. With funds secured with an asset, this type of credit attracts lower rates than unsecured loans and overdrafts. Rates can be fixed with secured credit, providing operators with a fixed repayment schedule to enable budgeting with cash flow.
To compare rates and repayments on the different credit facilities available, use our finance calculators with the current rates we are achieving for the relevant loan product. The calculator can provide rough estimates to be used as a guide for decision-making and planning.
Getting Fast Repair Loans Approval to Get Back to Work ASAP
Whether repairs are unscheduled due to a breakdown or a vehicle accident or if scheduled servicing that will take some time to carry out, we appreciate the need for swift action in securing financing. The sooner the finance is available, the work can be started and the vehicles operational and productive sooner.
Our individual approach and personal service ensures fast approvals to expedite availability of funding. Operators can quickly apply directly with one of our brokers over the phone or online and we will handle all aspects of the process on your behalf.
For versatile, flexible truck repair loans at affordable rates and workable repayments, contact Business Finance on 1300 000 033 for a quick quote.
DISCLAIMER: THE SPECIFIC PURPOSE IN PROVIDING THIS ARTICLE IS FOR GENERAL INFORMATION ONLY. IT IS NOT INTENDED AS THE SOLE SOURCE OF FINANCIAL INFORMATION ON WHICH TO MAKE BUSINESS FINANCE DECISIONS. BUSINESS OWNERS WHO REQUIRE ADVICE OR GUIDANCE AROUND THEIR SPECIFIC FINANCIAL CIRCUMSTANCES ARE RECOMMENDED TO CONSULT WITH AN ADVISOR OR ACCOUNTANT. NO LIABILITY IS ACCEPTED IN REGARD TO ANY MISREPRESENTATIONS OR ANY ERRORS RE ANY DATA, SPECIFICS, POLICIES AND OTHER INFORMATION AS SOURCED FROM OTHERS.
