FAQs

Installing lower emission and new technology fuel systems would be considered a purpose suited for approval for a credit product.

Credit for vehicle maintenance expenses can be obtained to cover the full cost of the works including labour and parts.

A range of credit facilities including secured and unsecured products, overdraft and line of credit are available to cover vehicle maintenance expenses. Subject to individual lender approval.

Interest rates on vehicle service funding products vary with the different credit facilities and can vary for individual operators. The best rates offered by lenders may be used as a guide.

Yes. Subject to individual lender approval, a line of credit or overdraft may suit funding for vehicle maintenance costs.

Collateral for secured credit facilities may be provided through property or assets.

Yes. Upgrading systems would be considered a purpose suited to being funded by heavy vehicle lenders.

Interest rates on most commercial credit facilities are at a fixed rate which does not change over the term. Some overdraft facilities may be arranged at a flexible rate which can be subject to change.

Fees and interest on commercial credit is treated as tax deductible. The tax deductible of repayments on non-asset commercial credit should be discussed with an account.

Operators can use an online credit calculator to work out the costs of credit for getting work done on heavy vehicles.

The costs for reconditioning an engine would typically be accepted as a suitable purpose for credit.

All commercial credit applications are subject to lender approval. General credit facilities are available to cover a wide range of commercial expenses including work for damaged vehicles.