Rent To Own Truck Finance
Jade Truck Loans arrange rental finance for customers which need to upgrade their trucks regularly as it offers a number of key benefits and advantages for such businesses. A truck rental agreement or operating lease, enables the customer to use the truck but without the bearing the extra load of actually owning the truck. The ownership is retained by the lender until a future point where you can choose to purchase from the lender or return the truck to them. This is the key difference between rental operating lease finance and Chattel Mortgage.
Key Features and Benefits of Truck Rental Finance
Fixed term of the rental or operating lease period
Flexible term of up to 5 years, usually determined by the working operating life of the vehicle
Classified as an off balance sheet item: repayments recorded as expenses but the asset is not recorded as a liability on the balance sheet, thus improving the balance sheet.
Repayments could be 100% tax deductible as a business cost
GST might be claimed on the monthly rental payments
At the end of the rental term, the lender retains ownership (with most lenders), providing you with the opportunity to upgrade to a new truck without the hassle of disposing of the existing vehicle
Opportunity to negotiate a purchase price with the lender to buy the truck at the completion of the rental agreement period
Rent To Own Options Truck Lease Available With Jade
Truck rent to won can be a very effective finance option for many businesses and we advise that you consult with your accountant in order to make an informed decision. Your Jade Truck Loans consultant is available to discuss the various truck finance products in plain English to you.
Is Truck Rental the right financing solution for you? Call us now 1300 000 003 and a Consultant will get started on arranging a great deal, tailored to suit your business.