Transport Equipment Finance

Get financing for your transport equipment through us

From vehicles to other instruments needed in the transportation industry, we have lenders who provide loans and other financing instruments to get the equipment. In most cases, the industry where you operate determines which kind of transport equipment you will need. But whichever it is, you can count on us to get it for you. Everything from vehicles to cranes can be acquired with transport equipment finance, enabling you to provide your clients with better services without affecting your cash flow.

At St Joseph Oatley Transport Brokers, we provide transport finance brokerage service, which is necessitated by what we have observed in the market. Many of those seeking finance do not understand fully what they need and how best to get it which, in most cases, lead to them ending up with a bad deal. By helping you with your financing, we ensure that you have a seamless process from the point you decide to get finance to when you get the truck you need. It must be noted that we are not lenders ourselves and will only connect you with the finance companies and lenders.

However, we do everything possible to make sure that we get you the suitable ideal for you. We provide independent recommendations and help you negotiate with the lenders to arrive at an equipment finance agreement that works for every party involved. When you work with us, you can rest assured of transparent dealings as we carry you along through every stage of the agreement. There are no hidden charges, and we help you speed up the equipment finance processing to ensure you get the right deal.

You can use the transport equipment finance to get any tool necessary for you to deliver quality transport services. This includes containers, tractors, trailers, portable ramps, chassis, crane, railroad rolling stock, lifting equipment, etc.

Available financing options for car finance include;

Loans

Equipment loans are one of the most effective ways to get the transport equipment you need. Such loans can either be a secured loan or unsecured loan. A loan is secured when it comes with a requirement of security before you can get the loan. This means you have to present collateral, a property that is equivalent in value to the loan you are seeking. In the case of a default, the lender will take possession of the property you have used as collateral. On the other hand, an unsecured loan is one where all you have to do is present all the necessary documents for the loan, and the lender does not ask you for collateral before giving you the loan.

Lease

With a lease agreement, you have possession and use of the equipment for some time while you pay for the use within that period. It is ideal if your business doesn’t need the equipment for permanent use, such as when it is needed to execute a short term project. With this, you are essentially paying for the period during which you are using the equipment, and in most cases, it rarely exceeds a few years, and in some cases, you even have the option of buying the equipment when the lease expires. Getting a lease instead of buying can give you the freedom and flexibility when it comes to truck use. If you will be using the equipment for a short time, it is a logical decision for you to make. But in a situation where you are going to need the equipment on a more permanent basis, you should not go for a lease.

Hire Purchase

This is a form of finance you should consider if you need the equipment on a permanent basis but can’t afford to get a loan. Lenders and dealerships offer equipment. Since your equipment is for business purposes, you can easily use a hire purchase to acquire it. In the hire purchase form of financing, the lender buys and owns the equipment you want and gives it to you on lease. You are then expected to pay a stipulated amount monthly which is spread to cover the lease and the cost of buying the equipment. You are obligated to buy the equipment under this agreement, and once you complete the terms of the agreement, the equipment becomes yours.

Chattel Mortgage

Mortgage the equipment you are getting until you are able to pay off the loan. This form of finance lets you get the equipment you need while using the equipment itself as the collateral for the loan, which means it is a secured loan. Once you get equipment with a chattel mortgage, the vehicle becomes your property immediately. However, the financer will place a mortgage on it, making the equipment serve as collateral for the loan you have taken to buy it. With this kind of loan, you enjoy the benefit of a secured loan without needing to have a property that you will use as collateral. It is an ideal form of finance that lets you own the equipment you need without having a property as security, making it a win-win for you.

It is advisable that you should have money saved before looking for equipment finance. Such money will serve several purposes when getting finance. For example, it can be used to pay deposits in a situation where the lender requires that you pay deposits or where they don’t cover the whole cost of the equipment. Deposits are a good thing in many cases as it means the amount you will repay will be less than if the lender gives you 100% finance. The savings can also be used to cover the cost of insurance, license, installation, registration, etc., as the case may be.