Crane truck finance applications may be submitted to Business.Finance for quick approval decisions for bidders at the September Manheim crane and truck auction. Presented as a major liquidation sale event, this auction could provide the opportunity for operators to secure quality vehicles at great value prices.
The event is at the Newcastle Manheim site with bidding happening online. Bidding closes on September 23. With only a few weeks to go, prospective buyers are advised to talk to us as soon as possible to get their financing arranged.
Having financing approved is considered an essential requirement by most business owners planning to buy vehicles and equipment at auction. We provide operators with the option to apply for finance prior to purchase and have their loan limit and other finance details confirmed before bidding, ensuring they are confident to place that bid and know their limit. To be ready to bid at the Manheim sale, review the lots available and speak with our experts regarding your financing opportunities.
Manheim Truck and Crane Auction – Lots Available
There are 66 lots available in the September Manheim event which include crane trucks, prime movers, crane accessories and equipment and dual cab chassis utes. Plenty of variety in vehicles and equipment to suit many applications and operators.
Some of the headline lots include a 2021 all-terrain Tadano ATF 220 G crane, several Grove models including two 2019 models, and a 2011 model and a 2010 model, with varying specifications and features. Buyers can also review a 2011 Liebherr crane LTM 1055-3 for suitability to their requirements. Trucks from Kenworth, Freightliner, Isuzu, IVECO and others are also available for sale. The utes in the sale include several Toyota HiLux models and a Navarra.
Equipment and crane accessories including a lifting equipment storage box, bow shackles, lever hoists, crane cage, chain binders and slings are included in the lots being offered.
Equipment and Truck Finance Facilities
This auction is presenting second-hand vehicles and equipment, and the financing will be priced with used asset interest rates. These are typically higher than interest rates for loans on new trucks and assets.
Used assets are financed with the same credit facilities as new models, when accepted by lenders as suitable finance collateral. Good quality used assets in working order are typically acceptable loan collateral.
The trucks and other vehicles offered in this sale may be financed with the operator’s choice of Rent-to-Own, Commercial Hire Purchase, Chattel Mortgage or Truck Leasing. While the rates may differ for used assets, the same credit facility features are included – balloons, residuals, tax deductions and treatment of GST.
In addition to a different interest rate from new assets, used asset finance may also include a lower borrowing limit than new asset loans. While many operators can be approved to borrow the full purchase price of new cranes and vehicles, the same may not apply with used vehicle loans.
Depending on the specifics of the vehicle, the operator’s financials and credit history and individual lender guidelines, approval may not be given for financing the full price of a used vehicle. Operators planning to bid at this sale may need to be prepared with a down payment to make up the difference between the loan amount approved and the purchase price. Especially as auctions do not offer the opportunity to use a trade-in as a down payment.
The small equipment lots up for sale may not be suitable for asset finance credit products. Prospective buyers can speak with us about other unsecured credit options including an Unsecured Business Loan or an Overdraft facility where funds are not available from current cash flow.
Your rate will need to be quoted. But to roughly estimate truck loan repayments to use for planning and deciding which lots to bid on, operators may use our Truck Loan Calculator with the rates we are currently achieving on new vehicle finance. Increase the rate slightly to allow for used asset rates and work up different options based on how high you intend to go with bids on certain lots.
Securing Truck Finance to Bid at Auction
Before bidding at auction, operators can apply for their finance and have their application assessed and receive a decision on their loan. Conditional approval may be sought which provides an approved borrowing limit but does not necessarily specify the goods to be financed. Those details, and the specific rate and repayments, are finalised after the operator is the successful bidder.
Alternatively, operators may seek loan approval on a specific vehicle. Details of the vehicle that will be bid on are required, in addition to the current financial documentation so lenders can fully process the application and provide a loan offer. Any pre-purchase loan offer has a validity time frame during which the operator must accept the offer or it will expire.
Don’t miss this current opportunity to acquire vehicles and equipment for your operation. Apply for your financing today.
To apply for equipment and truck finance to buy at auction, connect with Business.Finance brokers 1300 000 033.
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.
