Why Use A Truck Finance Broker

If you’re planning to finance a truck for your business, you might be wondering whether you should apply through a bank or go to a broker.

While everyone’s situation is different, we believe there are some very good reasons to go through a broker. In this article, you’ll learn exactly what truck finance brokers do and some reasons why going through a broker might be best for your business.

How Does A Truck Finance Broker Work?

A truck finance broker works to find and organise truck finance for your business. When you apply through a broker, they will firstly look at your requirements and financial circumstances to ensure you would be eligible for a truck loan.

If you meet the eligibility requirements, they will then begin searching for the best lender for your situation. Brokers will often have access to 20-50 lenders and are able to shop for the best deal available.

The broker will collect any necessary documentation from you that is needed to submit a loan application. Once a lender has been chosen, the broker will lodge your application on your behalf and notify you when the loan is approved.

They Can Assist With Complex Scenarios

A specialist truck or equipment finance broker will have the knowledge and experience to facilitate more complex applications.

If you have a complex business structure or you’re trying to finance a unique asset or you have a difficult credit scenario, a specialist broker can be invaluable to have to assist you. No matter what the situation, an experienced broker has likely seen something similar in the past. They will be able to foresee potential hurdles and understand how to best handle the application.

This is why it’s best to go to a specialist truck finance broker who has a history of getting truck loans approved for clients.

Get Answers To Your Questions

A key advantage of applying through a broker is having access to that broker to get answers to all your questions. Good finance brokers will be happy for you to contact them by email or phone whenever you have something you wish to discuss.

Good brokers will go beyond the level of service offered by banks, ensuring you always get timely responses.

Save You Time

Trying to organise a truck loan without the assistance of a broker can be a long and slow process. Comparing lenders, understanding their policies and lodging applications all take time away from your business.

This is why many businesses choose to go through a finance broker. The broker takes care of the hard work for you so you can save time and focus on running your business instead.

They Can Find A Better Deal

When you apply directly through a bank, you will only have access to a limited number of finance solutions. That means you could be missing out on a finance product that is better suited to your business and requirements. There may be another lender offering better interest rates and more flexible repayment terms.

A truck finance broker like Credit One will have access to an extensive panel of lenders. They will look at your situation and match you to the lender who can offer the best deal for your circumstances.

Develop An Ongoing Relationship For Your Business

If you’re likely to be financing more business equipment in the future, a good relationship with a truck finance broker can be very valuable to your business.

You might be planning to finance another new truck or looking for other business equipment assets. Being able to go back to a broker who already understands your business and goals can make the entire process a lot smoother.

Getting Started

If you’re looking for a truck finance broker you can rely on, begin an obligation-free enquiry with Credit One.

We have a team of specialist truck and equipment finance brokers ready to assist with your loan application.