Truck Finance

Truck loans done right

Talk to Fox Finance Group about a structured truck financing solution today. Fox Finance Group finances trucks for companies Australia Wide. Our Lending Specialists are driven to deliver our truck loan approvals on time every time. We are experts at all types of truck loans and help you get best and low finance rates available on the market today.

Our specialist commercial finance professionals understand business, finance, cash flow, financials, company & business structures and everything that's required to provide you with the right business loan solution.

Tax effective

At Fox Finance Group, our consultants will tailor a business loan solution for you. We'll take the time to speak with your trusted advisors so we fully understand your tax, cash flow and business requirements. A commercial consultant from Fox Finance Group will place you within the right structure, driving your dollar further and save you money. Our aim is to become an extension of your business, a partner that will help your business grow by providing market leading innovative financing solutions, quick and easy.

At Fox Finance Group, we can provide truck finance for all types of trucks, plus vans, commercial utilities, prime-movers, buses, tankers, cranes, forklifts and more.

Zero percent finance - does it cost more?

Zero doesn't mean zero - especially when it comes to truck finance. Opting for "zero" or "no" interest loans can end up costing you and your business more. Generally, you will find that a dealer won't budge on price if you are getting one of their promo interest rates. This is generally because the dealer has to subsidise the interest rate promotion. Every "zero" percent finance package comes with higher fees; even for paying off the loan early. Some dealers might entice you with lower repayments, but read the fine print first. They may artificially keep repayments low by forcing a balloon payment at the end of the loan term or provide an example that includes you having to add a large deposit to reduce your repayment to the advertised repayment. Finding your own finance and haggling with a dealer can save you thousands - that's where we come in.

Should you lease or buy a truck?

It's an age old debate - should you lease or buy your next truck? Buying a truck is good for you come tax time. You need to speak with your Accountant first, but generally you could be eligible to claim depreciation, tax and other benefits such as the fuel input tax credit. However, if you run a seasonal business or are looking to expand quickly, opting for operating or finance lease might be another good option to consider. This gives you the opportunity to take on more trucks for a limited time. In many lease agreements, maintenance and other expenses may be included in your repayments. Ask your accountant what structure is the right one for you, then speak with your Fox Finance Group Lending Specialist for more details on how we can set this up for you in the most effective way that suits your business.

Buying new vs used trucks

Trucks are no small expenditure; for many businesses that rely on them, it's their primary asset. Buying used trucks might sound tempting, if you want to save on initial costs. However, depreciation will hamper your resale value, and long-term operation. Buying new means high residual value in your asset, and lower maintenance costs as your truck comes with new warranties, parts and other modcons. It also means they are more reliable, which could save you on certain types of business insurance. A well-maintained truck can last for years, or even decades. Sometimes buying a new truck will cost more upfront, but you could be better off in the long run with a truck that holds a higher resale value when it comes time to upgrade or sell.

Choosing a right truck

Before buying, you must ask how important is the truck to your day to day running of the business and what problem your truck solves in your business. If you haul heavy loads, perishable foodstuffs, or liquids, the answers to these questions is very easy to come up with. However buying a smaller or lighter set up to begin with only to find out your hauling capacity is running out due to higher demand for your services can hurt your business in the short to medium term. Always start with the end in mind. Which means take the time to really think ahead into the future and consider your growth goals within your business. From there, choose the right truck the first time that will not only help today, but has the capacity for your business to grow into it as well.