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Truck Finance

We can get you truck finance

Are you getting the first truck for your business or planning to add to your fleet of trucks and provide more efficient service delivery. We can help you get the truck finance you need for that purpose. Trucks are quite expensive, and financing the purchase is the right decision. Whether you are getting your first truck or just expanding your fleet, truck finance can reduce your financial burden and allow you to use your capital for a better purpose instead of tying it up. Positive cash flow is essential for the success of any business.

Truck finance is generally used for purchasing the truck you need, but that doesn’t mean it cannot be used for other purposes. It is possible to use truck finance to cover the running costs attached to trucks use and ownership. For example, if you own a fleet of trucks, repairs, servicing, and fuelling is going to cost thousands, and you could use truck finance to cover these costs in some cases. Of course, there are several other things you could use truck finance for. As long as it is an expense related to truck ownership, you are good to go.

When getting truck finance, it is important that you should save before seeking finance. Such money will serve several purposes when getting truck finance. For example, it can be used to pay deposits when getting the truck finance in a situation where the lender requires that you pay deposits or where they don’t cover the whole cost of the truck. Such savings can also be used to cover costs such as insurance, registration, driver’s license.

At St Joseph Oatley Transport Brokers, we partner with lenders who do and can help you with the processes involved in getting finance. Our transport finance brokerage services are 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.

Our lending partners provide all kinds of truck finance, which means you will have access to multiple options and can decide on which one to go in each situation. 

Fleet of new heavy trucks with one selected. Transportation

Here are some of the truck finance options that are available:

Truck Loans

When getting truck finance, this is the commonest you will find. Truck loans can either be a secured loan or unsecured loan. A secured truck loan is one that comes with security as an important condition for getting the loan. This means you have to present collateral, a property of yours 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. Both forms of loans have their advantages and disadvantages.


A lease agreement lets you have possession and use of the truck for a period while you pay for the use within that period. It is ideal if your business doesn’t need the truck for permanent use. With this, you are essentially paying for the period during which you are using the truck, and in most cases, it rarely exceeds a few years, and in some cases, you even have the option of buying the truck 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 truck for a short time, it is a logical decision for you to make. But in a situation where you are going to need the truck on a more permanent basis, this can be more expensive for you in the long run.

Chattel Mortgage

This form of finance lets you get the truck you need while using the truck itself as the collateral for the loan, which means it is a secured loan. Once you get a truck with a chattel mortgage, the vehicle becomes your property immediately. However, the financer will place a mortgage on it, making the truck 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 truck you need without having a property as security.


You can get that new truck you want through refinancing as well. This form of finance allows you to restructure your current financing such that you can get new finance or even use the trucks you currently have to get new finance.

Hire Purchase

You can get this type of truck finance from a lender or dealership. Since your truck is most likely 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 truck 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 truck. You are obligated to buy the truck under this agreement, and once you complete the terms of the agreement, the truck becomes yours.

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