FAQs

A heavy vehicle credit calculator can be used to work out estimates of repayments. Calculators are available online at lender and broker websites.

Commercial credit facilities have varying features in regard to suitability to accounting methods and approaches to balance sheet and taxation. All operators are advised to consult with an accountant on the best option for their set-up.

Yes. An application for vehicle funding can be approved with a fixed quote prior to purchase.

Yes. All approved commercial funding applicants can receive the relevant tax benefits on the credit facility selected.

All interest rates are offered after the lender assesses the application. Due to less financials being available, new operators may be assessed at higher risk and may be offered a rate higher than the best rate advertised by lenders. Competitive rates can be achieved with strong applications.

All conditions around vehicle funding are subject to the individual criteria of lenders. Collateral in addition to the vehicle may be required.

If approved for no doc or low doc funding, a new operator can select Leasing for the vehicle funding.

New operators can contact non-bank lenders or brokers that provide options with no doc and low doc heavy vehicle credit.

Yes. Once approval is received, operators are entitled to all features and benefits of the selected credit product. Balloons are a feature of CHP and Chattel Mortgage.

No. GST rego is not an essential requirement for commercial credit approval.

All commercial entities must have an ABN to apply for funding. Additional documents on the financials of an entity are requested. Where a new entity does not have all this information, they may present what trading details to date, operating plans and prospects and other information.

New operators usually require low doc or no doc funding through specialist lenders. When an application is approved on this basis, the operator may select from Leasing, Rent-to-Own, CHP and Chattel Mortgage.