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When purchasing a new truck, buyers in some truck categories have the choice of buying a vehicle already set up with cab chassis and body by the manufacturer or they can purchase the prime mover, cab chassis or semi and select and purchase the body or trailer they want separately. There are pros and cons for both types of purchases depending on your industry, your application and your individual business. While the decision around turn-key or separates will based on personal preference, questions may arise around if there is any difference in the finance options. Jade Truck Loans writes a lot of business in all sectors of the truck lending market and we share our expertise to clarify this issue for you.
Truck Loans for Turn-key Solutions
Turn-key solution is a term used for trucks which are pre-built by the manufacturer with both the cab chassis and body ready to go. This type of vehicle is available from a number of manufacturers. The body types available cover some of the most popular truck applications including tray, Pantech, tipper, refrigerated body and others. These are predominantly available in the light and medium duty truck classes.
Popular models on the market include:-
- Isuzu Ready to Work Range includes tippers, vanpack, freightpack, tradepack, servicepack and traypack. There are a number of models covering a range of truck sizes and classes.
- Fuso Built Ready range offers a selection of body types across their light and medium duty range.
- Hino offer a Built to Go range across their very popular 300 and 500 Series trucks.
If purchasing this type of truck, Jade Truck Loans offers our full selection of loan types including:-
- Leasing
- Rent to Own
- Commercial Hire Purchase
- Chattel Mortgage
In arranging a loan for a turn-key, pre-built or ready to work truck where the cab chassis and body are purchased as a single unit, buyers enjoy the convenience of only the single loan application process and having only the one loan repayment to cover each month. Plus they are ready to go to work in their new truck as soon as the loan/purchase is settled and they take possession of their new truck. With Jade’s streamlined service and the truck ready to go, this can present an extremely convenient and efficient way to purchase and finance a new truck.
While these turnkey examples quoted are for the light and medium duty segment, Jade applies the same approach for similar vehicle set-ups in the heavy duty segment. Where a buyer is purchasing a prime mover and trailer as one complete unit. These types of set-ups can also be purchased under the one Jade truck loan and with the buyer’s choice of loan type.
Loans for Cab Chassis and Separate Body Purchases
The alternative to a turnkey truck solution is for buyers to select the cab chassis from one manufacturer and purchase the body from a different supplier. The body may be a stock standard model or custom-built to suit their specific applications and requirements.
The approach taken by Jade Truck Loans to these separate unit purchases can vary.
For example:-
- Where the cab chassis and the body are purchased concurrently from the same or different suppliers it may be possible to include both assets in the one Jade Truck Loan.
- Where a standard or custom-built body is acquired after the purchase and loan of the cab chassis has been finalised, the body would typically not be able to be added to the original loan. The body would require a separate Jade equipment loan.
As all Jade Truck Loans are individually sourced and negotiated, we encourage buyers to contact us and discuss their requirements with our consultants. Consider discussing a pre-approved loan which may better suit separate body and cab chassis acquisitions.
Regardless of whether it is one or two purchases and finance deals, the same loan products are available as for turnkey solutions and the applicable interest rate would be the same:-
- Rent-to-Own
- Truck Leasing
- Commercial Hire Purchase
- Chattel Mortgage
Jade Truck Loan Features and Inclusions
In summary and to clarify, regardless of whether purchasing a cab chassis or a turn-key truck solutions, the features and benefits of the Jade Truck Loan would be the same:-
- All truck loans at our cheap interest rates – refer to our interest rate comparison chart to see our current rates across our loan portfolio
- Loans are available for all types of business set-ups: sole traders, owner operators, SMEs, fleet operators and family businesses
- Loans cover all leading truck manufacturers
- Fully documented and low docs, no docs options available
- No deposit finance available – include 100% of the purchase price of cab chassis and body in your loan
- Terms up to 7 years, negotiated individually to suit your cash flow
To discuss the loan options for your truck purchase, contact Jade Truck Loans on 1300 000 003
DISCLAIMER: PLEASE NOTE THAT THIS INFORMATION IS PROVIDED PURELY AS A GENERAL INFORMATIVE ARTICLE AND IS NOT INTENDED AS A SINGLE SOURCE FOR MAKING FINANCIAL DECISIONS. THOSE THAT CONSIDER THEY REQUIRE ADVICE IN REGARD TO THEIR FINANCIAL SITUATION ARE ADVISED TO REFER TO A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ERRORS OR MISINTERPRETATIONS IN THE DATA, FIGURES, DETAIL AND OTHER INFORMATION AS SOURCED FROM OTHER SOURCES.
