When it comes to deciding on a new workhorse for their business, some operators are tossing up between the suitability of a small truck, a large ute, or even a Commercial Van Finance option. With utes getting larger and more powerful and medium and light-duty trucks becoming lighter and more agile, it’s logical to weigh up the pros and cons.
Van, ute or truck? In some cases, it’s all in the name. Take RAM Trucks for example. This US-style pick-up truck could be considered a truck or a ute in Australia. Whether looking at Truck Refinancing or No Deposit Truck Finance, it definitely has the power to handle much of the work of a small truck including towing jobs and has a large cargo area.
The US pick-up market in Australia is picking-up (apologies for the pun). The Chevy Silverado has reportedly been selling in big numbers lately and there’s the Jeep Gladiator to check out. Other powerful utes to bring into the equation are of course the Ford Ranger and Raptor and the all-time, all-round favourite the Toyota Hi-Lux. Yes, the Hi-Lux is available in multiple truck and ute configurations so that does muddy the waters.
Also confusing the decision-making somewhat is Isuzu. The leader in the small trucks, Isuzu also offers the D-Max ute and there are other extra powerful utes entering the market including the new Nissan Titan and Nissan Navara Warrior.
To assist, or confuse you further, we present some considerations including how your choice of truck or ute may impact your Jade Truck Loan.
Considerations
- For some applications, the choice is straightforward. But for those unsure of whether to go for Used Truck Finance or a new purchase, both a ute and a small truck can handle your daily duties.
- Payload: this is a bit of no-brainer. If you need the larger payload offered by a small truck, there’s your decision.
- Towing capacity: while some large 4x4 utes have a large towing capacity, it’s not advisable to go purely on advertised capacity due to the risk of damaging the chassis. So if in doubt, best to go up a size.
- Space: some put up the case that the small truck has more space but both have double cab options so the whole work team can travel to site.
- Body requirements: a custom-body on a light truck with lockable cargo area can make an ideal tradie vehicle and possibly provide other benefits compared with a ute. But custom units would tend to be more expensive than pre-bodied vehicles. There are many pre-bodied trucks on the market which offer immediate work, no wait options.
- Drivers licence: while you only need a car licence for a most utes, many 4.5 tonne GVM category vehicles be also be driven with a car licence.
- Double duty: if you’re after a vehicle to cover off on work and play, then the ute will likely win. Putting the dirt bikes, surfboards, fishing gear, camping equipment and other recreational requirements in the back of your truck to head off for the weekend may not be quite as appealing as in the back of a stylish ute.
- Aesthetics and comfort: utes tend to be the more stylish vehicle and loaded with the latest tech. But wait, truck manufacturers are right up there with fitting their light trucks with creature comforts and state-of-the-art tech.
- Practicality and price: looking at the costs over the whole life of a vehicle may be advised. Issues such as fuel efficiency, the durability of components and availability of parts and servicing and resale value could also be considered.
- Purchase price: in many cases, a small truck may be less expensive than a larger ute. To see how purchase prices may equate to monthly repayments, use our Trucks Loans calculator for a quick rough estimate.
Jade Truck (and ute) Loans Considerations
When it comes to purchasing a commercial vehicle, whether it be a truck of any size, ute or a van, Jade Truck Loans offers the same finance products for all vehicles:
The decision as to which loan product is best for you and your truck, is based on aspects of your business structure and accounting methods rather than the vehicle specs.
All Jade Truck Loans, from No Doc Truck Loans to standard options, are based on our cheap interest rates and tailored to suit your business. When it comes to lenders, there may be differences in truck loan terms and conditions in regard to used versus new vehicles.
- Fixed interest rates
- Fixed loan terms
- Fixed monthly payments
- Fixed balloon/residual/payout
When it comes to lenders, there may be differences in truck loan terms and conditions in regard to used versus new vehicles. With new vehicles, many lenders will offer up to 7 year loan terms and in many cases no deposit is required by the lender.
With used trucks this may not be the case. The lender will consider the age and condition of the vehicle in determining the loan term they will offer and possibly the balloon amount. In some cases, the lender may require a larger deposit be paid to reduce the overall loan amount on older vehicles.
These are just some of the issues that your Jade Truck Loans consultant will negotiate with lenders on your behalf to achieve the cheapest truck loan for you. For a firm quote on both trucks and utes you are considering, just give us a call and your Jade consultant will assist.
To discuss a cheap loan on small truck, a van or a ute, contact Jade Truck Loans on 1300 000 003
DISCLAIMER: ALL INFORMATION PRESENTED IN THESE ARTICLES IS FOR GENERAL INFORMATIONAL PURPOSES AND BUSINESSES AND INDIVIDUALS SHOULD SEEK INDEPENDENT FINANCIAL ADVICE IN REGARD TO THEIR OWN FINANCIAL DECISIONS AND CIRCUMSTANCES. DETAILS ON GOVERNMENT MEASURES, POLICIES AND GUIDELINES AND VEHICLE DETAILS AND SPECS HAVE BEEN SOURCED FROM PUBLICLY AVAILABLE WEBSITES AND SOURCES. LIABILITY IS NOT ACCEPTED FOR ERRORS IN INTERPRETATION OR PRESENTATION OF ANY FACTS AND DETAILS FROM THIRD PARTIES. WE ADVISE INDIVIDUALS TO CHECK DETAILS DIRECTLY AT THE THIRD PARTY SOURCE IF REQUIRED.
