You don’t have to be a financial expert to know that interest rates are at very low rates and look set to be that way for some time. But as a truck owner, you’re probably more interested in what the low rates that the Reserve Bank talks about actually mean when you get a loan to buy a new truck.
The nutshell answer is – Jade Truck Loans will always source you the cheapest truck loans at the best interest rates available. We don’t wait for rates to fall we take advantage of all conditions to ensure our customers get the cheapest loans.
How does Jade always achieve cheap interest rates?
- We work hard for our customers and as independent truck finance brokers, our customers are our sole interest. We’re not interested in making profits for the banks. We’re interested in making profits for our customers by securing the cheapest truck loans possible.
- We have significant bargaining power. We’re a major player in the cheap truck loans sector and we write a lot of business with owner-operators, sole traders, SMEs and larger fleet operators. When we come calling, the lenders know we represent business for them, not just with that call but into the future.
- We negotiate hard to coax every basis point possible out of the lender to ensure we achieve the lowest interest rate truck loans for our customers.
- We are accredited with multiple banks and lenders, especially specialists in truck finance. We have many sources which we explore to ensure we get you the cheapest rates. One of the factors that individual banks and lenders use to price their loans and set their interest rates is their experience in a particular sector. By having direct access to specialist truck finance lenders, we have greater success at quickly sourcing you the cheapest rate loan.
Making Low Rates Work for Your Business
Getting a low interest rate for your truck loan only makes it a cheap or cost-effective loan if it is has the flexibility to be structured to suit your business goals.
Upfront and as bluntly as possible, be wary of jumping into signing-up to low interest rate loans without looking at all the details. Very often these offers conceal higher fees and charges and you end up paying more in your total loan amount.
By using Jade Truck Loans to source your finance, you’re assured of having a professional on your side, who can advise on how best to structure your truck loan, in consultation with your accountant.
Cheap interest rates can be utilised within a loan structure in a number of strategic ways, depending on your individual financial goals:
- Opt for low monthly repayments to ease pressure on cash flow. This will spread the loan over a longer time period and involve a larger total amount of interest paid than on a shorter term loan but be more affordable on a monthly basis for your business.
- Go for a higher monthly payment over a shorter term so you turn your truck from a liability into an asset on your balance sheet faster. This may support your medium to long term goals.
- Vary the residual or balloon amount which will in turn vary the monthly payment.
When applying for a truck loan yourself, directly to a bank or lender, you’re not always given the flexibility to structure your loan the exact way that you want. They often have strict guidelines in relation to loan terms and other factors.
By working your Jade consultant who has access to a wide range of lenders, we can inject the flexibility that you need to grow your business into your loan.
- So yes, interest rates are currently very low and interest rates are the foundation of a great truck loan.
- But, if doing your own loan comparisons, look closely at the fees and charges attached to any too good to be true offers and compare the overall loan cost.
- Discuss with your accountant which is the most appropriate commercial finance product to benefit your business.
- Make the cheap interest rates work for you by taking time to consider your broader financial objectives and envisaging how you would like your truck loan structured.
At Jade Truck Loans, cheap interest rates are our trademark and cheap truck loans are our standard product line. By engaging Jade, you can be assured that you will be offered the best truck loan available, regardless of how interest rate markets are fluctuating.
To discuss a genuine cheap interest rate truck loan, call Jade Truck Loans 1300 000 003 and have an initial discussion with one of our consultants.