Refinancing Truck Finance Balloon or Residual
At the completion of your existing Chattel Mortgage or truck leases, you will have to payout the balloon or residual. Jade can arrange a great deal to finance that payment. A residual amount can be refinanced via commercial heavy vehicle loan products. Discuss with your accountant specific direction re your business or just call and speak with our Jade consultant about the options available to you.
- New and Used Trucking Finance
- No Deposit Options
- All business loans ,chattel mortgage and truck leasing.
Better Interest Rate Refinancing
Interest rates have reached historic lows recently, which makes borrowing to invest in business equipment highly attractive. It can also mean that the truck finance deal you organised 3-4 years ago was based on a much higher interest rate. While your truck loan may attract a penalty for early pay-out, it is well worthwhile talking to a Jade consultant about refinancing at current truck finance interest rates. A lower rate means lower monthly repayments which means a better bottom line for your business.
If your business is experiencing short term cash flow pressures or just the general pressures that the transport industry is feeling, reducing your costs by refinancing your truck loan could be a solution. If your objective is to reduce your monthly repayment commitment, your Jade consultant could source you an offer to refinance your existing loan, in a re-structured format. Eg: over longer time period or with larger residual to reduce the monthly repayment.
Jade can work with you and your accountant, to structure a refinancing deal which better suits your business objectives and works with your cash flow, with one rather than multiple monthly payments. During the refinancing process, your Jade consultant will streamline the process for you by dealing with the paperwork and working the existing financier to finalise the process. If truck loan refinancing is an option to improve your business, then call us and start the conversation. Call Jade on 1300 000 003.