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Used Truck Finance - Old Trucks Loans

19 Jan Today's
best rate
Finance Trucks From
2.79 %
Fixed
*The Interest Rate is calculated on a Secured Loan for business use, effective 24/01/2021 and subject to change. WARNING: The interest rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.

Compare Products Offer For Truck Finance

While truck loans are all assessed individually, we’ve produced this comparison table to show you how several products in the heavy vehicle financing space compare with Jade, based on their advertised interest rates. Simply enter the amount you want for your loan and the term you would prefer and the monthly repayment figure will be displayed in the end column.

Loan Amount
Loan Term
New Equipment Loan
2.79%
$569.75
Monthly repayment
Used Older Secured Equipment Loan
4.50%
$612.5
Monthly repayment
Business Loans - Unsecured
7.99%
$699.75
Monthly repayment
Business Loans - Secured
2.95%
$573.75
Monthly repayment
Overdraft - Non Bank
9.95%
$748.75
Monthly repayment
Chattel Mortgage
2.79%
$569.75
Monthly repayment
Operating Leases
4.60%
$615
Monthly repayment
Commercial Hire Purchase
2.79%
$569.75
Monthly repayment
Rent To Own
9.95%
$748.75
Monthly repayment
Loan Product Interest Rate
Starts at:
Monthly Repayment
New Equipment Loan 2.79%
$569.75
Used Older Secured Equipment Loan 4.50%
$612.5
Business Loans - Unsecured 7.99%
$699.75
Business Loans - Secured 2.95%
$573.75
Overdraft - Non Bank 9.95%
$748.75
Chattel Mortgage 2.79%
$569.75
Operating Leases 4.60%
$615
Commercial Hire Purchase 2.79%
$569.75
Rent To Own 9.95%
$748.75
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Disclaimer: This comparison chart represents different loan rates as currently offered by Jade Finance. It is for the purpose of comparison only as the interest rate offered on a specific loan may vary when the application is assessed. Not all fees and charges that may be applied bylenders have been accounted for. The repayment figure displayed may vary from that which you are offered. This comparison chart is not a loan application, is not an offer of credit and is no indication that a loan application has been approved.

Second Hand Truck Loans

When it comes to purchasing a used, second-hand truck, the urgency is even greater. Good deals won’t wait around for slow-moving banks and lenders to organise and approve your truck finance. Sellers want to sell quickly and usually have plenty of buyers making offers. The used vehicle market is highly competitive so once you’ve found a good quality, well-priced used heavy vehicle you need to move quickly or risk losing the deal.

Don’t risk missing out on that used truck or a great deal, you can have both – just talk to our Jade consultants, we’re up to speed when it comes to securing great second hand loans and meeting deadlines.

Call our consultants 1300 000 003 We’ll get moving on your deal from your first phone call or email contact. Our consultants know how to structure your application for FAST APPROVAL and that means you can proceed with the sale faster and get that truck on the money-earning road.

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Request a free finance quote by calling 1300 000 003 or directly online.

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Use our online boat finance repayment calculator to get an estimate on repayments for the vessel of your dreams

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Used Truck Loans FAQs

Many heavy vehicles are built to last for many years which means the second hand market can be strong with some great buys to be found. Jade assists buyers of used trucks with our comprehensive finance services and compares cheap loans. We’ve endeavored to cover a wide range of issues and information across our website, but if you still have questions around a used truck loan, hopefully your will find your answers in this section. If not, please give us a call on 1300 000 003.

What loans are available for used trucks?   

Generally the same range of loan types for both used and new trucks. Loan types include: Chattel Mortgage, Leasing and Operating Lease, Rent to Own and Commercial Hire Purchase or CHP. These products share similarities and have distinct differences. Differences are around the treatment of GST, tax deductibility, depreciation, balance sheet and whether they are suited to businesses using the cash or accruals method of accounting. All interest rates are fixed for the loan term with fixed repayments. Other options are common with most loan types are balloons,residual, and buybacks.

What is the normal age limit on used trucks for finance?   

Individual lenders and banks will have their own requirements around the age of trucks they will finance. the age restrictions will vary and can depend on what financial information you could provide and the interest rate you may be charged. For example no doc truck loans through some major banks can have an age limit of upto 4 years old. With current financials they might look at older assets.Other non bank lenders for example may look at a older 10 year old asset under no doc but charge a higher interest rate. Some lenders may look at older trucks but restrict the loan term to under 5 years.

Do used truck loans have a higher interest rate compared to new trucks?   

Generally yes. Some older trucks and for some applicants the loan conditions may vary from those offered on new trucks. Most lenders and banks offer cheaper interest rates for new or near new trucks. The older the heavy vehicle will normally attract higher inetrest rates.

 

If I buy from a private seller, can I get a used truck loan?   

Yes most lenders, banks and finance companies approve finance when purchased through an authorised dealer, at auction or through a private seller.  If intending to purchase privately, it can be advantageous to secure a pre-approved loan before you meet with the seller. This process involves making an application based on your estimate of loan amount/purchase price. Your application is processed through to approval stage so you are assured that your finance is secured.

Having your finance approved means you are in a position to complete a quick sale. This can often be used as a great bargaining tool to haggle the price down.

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