If you are someone who heavily relies on their vehicle for work, and are looking for a new ute, van or truck in the coming months, then loanbiz can help you!
Why use a motor vehicle loan?
Having $50,000 on hand to purchase a new work vehicle isn’t realistic for many Australians. Therefore, a lot of people turn to the lenders in order to fund their next vehicle purchase – not only does this alleviate the need to empty your savings to afford the vehicle, but allows you to pay for the van or truck in manageable instalments, instead of a lump sum.
Is motor vehicle finance like a home loan?
The short answer is no. However, there are a range of finance options available to you, which may share similar qualities to a home loan. For instance, a standard motor vehicle loan may need to be secured against an asset, however that’s where the similarities end. A motor vehicle loan is typically held for a shorter time (around 5 years), with a higher interest rate than a typical home loan due to the lower loan amount and shorter loan period.
At Loanbiz we offer a free consultation and free process guide to all customers.
If you’re looking to purchase a business vehicle and would like to speak to an experienced broker, contact Loanbiz on 0428 899 283 or simply fill out our enquiry form and a member of our team will be in touch.