Purchasing a new truck is a significant investment. While Jade Truck Loans work diligently to achieving the cheapest truck loans for our customers, we fully appreciate that truck owners have a range of other expenses to consider over the life of their vehicle. Scheduled servicing, repairs and regular maintenance in particular, can place strains on cash flow. We offer a solution by offering our new truck buyers the option of including the initial service agreement cost in the overall truck loan.
Numerous prominent truck manufacturers extend the option of fixed-price service agreements and repair and maintenance contracts to purchasers of their new vehicles. If you decide to avail of this offer while simultaneously securing your Jade truck finance, our consultants can strive to incorporate this expense within the truck loan. It’s important to recognize that while manufacturer-provided service agreements might not encompass every aspect of repair and maintenance expenses, these arrangements often present a cost-effective alternative for many buyers.
R&M and Service Agreements
Best-selling truck brand, Isuzu has recently rolled out an updated framework of service plans for buyers of their new vehicles. The revised structure has been called Isuzu Essentials and has an upfront option to cover ‘predictable costs’ over a set timeframe. According to the company information this can be 36 months, 60,000 klms or the first 3 regular service visits, whichever occurs first. The company said it is offering this as a stress-free option for their new truck customers and they claim it includes great value while adding to assurances over chain of supply, EOM and compliant parts.
Isuzu provides buyers with a choice of four distinct service agreement options, enabling them to select the one that aligns most effectively with their specific needs. These options differ in terms of the services included and the available payment structures. While certain options entail an upfront payment, others are structured as monthly fees.
Scania is another manufacturer that offers tailored R&M agreements to customers as does Western Star Trucks amongst, we’re sure, many others. The contracts and payment options vary from brand to brand and most can be tailored to suit the operator.
While some service agreement options may involve a monthly fee, it’s important to consider the fact that you already have your monthly truck loan payment to manage. Introducing an extra expense could potentially strain your cash flow during certain trading periods. However, by incorporating the initial upfront payment or covering the first 12 months of the monthly service agreements within your loan, you can streamline your payments and alleviate potential financial pressures.
Jade Financing Options
Wondering how the process unfolds? To integrate any additional costs linked to your truck procurement, like registration fees, it's essential that the expenditure is synchronized with the truck purchase and is itemized on the dealer's invoice.
Your Jade consultant takes the initiative to secure the most economical truck loan offer, which might encompass the entire purchase price of the truck along with your chosen manufacturer's service agreement payment. This could encompass the upfront cost for covering 60,000 kilometers or 36 months, as highlighted by Isuzu, or even extend to covering 12 months of a monthly fee contract provided by manufacturers such as Isuzu and Scania, among others.
This arrangement could be considered for all truck loans in our portfolio:-
- Chattel Mortgage Truck Loans
- Truck Rental
- Truck Leasing
- Commercial Hire Purchase
Incorporating the expenses of your service contract within your truck loan can yield the advantage of streamlining your accounting system. This consolidation results in a single monthly payment to oversee, rather than juggling separate payments for both your loan and service contract. This integrated approach could be immensely valuable in alleviating financial pressures on your cash flow, particularly during periods of tight trading.
To see how including a service contract costs into your truck loan, head to our truck loan calculator. You can use the calculator to see what your repayments may be, with and without the additional service agreement costs included in your loan. Just do the calculations separately and note the estimates generated to assist with your decision making.
You have the ability to perform this repayment assessment tailored to the precise truck loan product under your consideration. We’ve equipped our homepage with a loan comparison calculator featuring our prevailing competitive interest rates. Simply input the total loan amount and your preferred loan term, and you’ll instantly receive estimates for repayments corresponding to each available loan product.
For a firm quote, simply call or click the request a quote button.
After-Purchase Contracts
Should you opt to opt for a service agreement subsequent to your truck purchase and after your loan has been settled, it's crucial to note that the cost cannot be retroactively incorporated into the existing loan. A parallel situation may arise when signing up for an agreement concerning an older truck or a vehicle already present in your fleet.
In scenarios of this nature, engaging in a conversation with one of our consultants about the feasibility of an Unsecured Business Loan or a Business Overdraft is recommended. Jade offers an extensive array of loan products, including Commercial Heavy Vehicle & Truck Loans, and our consultants are adept at collaboratively devising a solution tailored to cater to your specific cash flow necessities.
To discuss what extra expenses could be included in your truck loan, contact Jade Truck Loans on 1300 000 003.
DISCLAIMER: THIS INFORMATION IS ISSUED PURELY FOR THE PURPOSE OF GENERAL INFORMATION PROVISION. IT IS NOT TO BE TAKEN AS THE ONLY SOURCE OF INFORMATION FOR BASING FINANCIAL DECISION-MAKING. THOSE REQUIRING FINANCIAL GUIDANCE AND ADVICE SHOULD CONSULT WITH THEIR FINANCIAL CONSULTANT OR ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY MISREPRESENTATION OF POLICIES, DATA OR ERRORS IN THIS CONTENT.
