What commercial loans are available for businesses wanting to lease a truck?

For businesses wanting to lease a truck, heavy vehicle leasing is a very popular choice of credit facility. Leasing allows operators to have full use of vehicles and work towards ownership but without the asset appearing on their balance sheet while the loan is being repaid.

What are the tax deductions with Truck Leasing?

Leasing a truck provides tax deductible monthly payments. The entire amount of the monthly payment can be deducted. GST applied to the repayments can be claimed.

A residual is a percentage of the leasing total which is set aside to be finalised at the conclusion of the leasing term. A residual allows for lower repayments. Borrowers have the choice of making the residual payment in full or refinancing to finalise the agreement and take ownership of the vehicle. Alternatively, they may choose not to take ownership and may return the vehicle to the lender with the residual unpaid.

Does leasing a truck suit all types of heavy vehicles?

All types of heavy vehicles may suit commercial truck lease. The decision as to the most suitable form of credit depends on the business accounting method, approach of the business to their balance sheet and objectives of the operator.

What is an off-balance sheet credit facility?

An off-balance sheet credit facility is a commercial loan where the asset being financed does not appear on the balance sheet of the borrower. This applies to truck commercial lease and to Rent-to-Own.

How can I own a vehicle at the conclusion of the Truck Leasing term?

To take ownership of vehicle when all leasing payments are made, borrowers can pay the residual.

What is accruals accounting?

Accruals accounting accounts for invoices when raised and accounts payable when the bill is received. The other accounting method is cash accounting where invoices and bills are posted to the business accounts at the time of receipt or payment.

Can the full truck price be covered in a lease?

Including the full purchase price in a leasing agreement is a common practice but subject to individual lender approval.

Is leasing available to small businesses?

Subject to individual lender approval of the application, small businesses can take on a lease to finance a heavy vehicle.

Can I lease a used truck?

Yes. Commercial truck leasing is available for both new and second-hand models. Interest rates, terms and conditions can be different for used compared with new models.

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While the features of leasing a truck attract many operators to this credit facility, the interest rate is a key determinant in attracting operators to the right lender. We have access to more than 80 lenders to ensure we can deliver the most competitive interest rates from the lender that best meets the profile and requirements of each operator. Compare our current best rates and request a quote for your best rate.

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Convenient Finalising Truck Leasing Options

The business may not hold ownership title to the truck over the leasing term, but the objective for many is vehicle ownership. Truck Lease provides a number of options for operators to consider at the end of the leasing term to suit their individual objectives.

The residual is a percentage of the purchase price which is set aside to be finalised at the end of therm. This is included in all leasing agreements in line with ATO rulings. When the final lease payment is made, operators can choose to pay the residual in a lump sum or hand the vehicle back to the lender and give up the right to ownership. Residuals can be refinanced with a new loan arrangement.

Finalise truck lease residual at the end of the term.

Waive ownership and return vehicle to lender option.

Refinancing truck leasing residual available.

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While the features of truck leasing can provide many advantages and benefits to business operators, the lease arrangement still has to be affordable. That means secured with the most affordable interest rates and over a leasing term that delivers repayments that won’t stress cash flow. The Truck Lease has to work for the operation and that means tailored to suit individual requirements.

Our experts work to achieve these objectives by sourcing the best rates from our 80+ lender base and individually negotiating terms and conditions to deliver an individual solution for each customer. Accessing our expertise and a customised commercial truck lease is simple – upload your business details or phone and speak with one of our experts.

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For truck businesses wanting to lease, we provide a simple process for submitting applications. To apply for a truck lease, upload your business details, financial documents and details of the vehicle being purchase. We handle processing your application for fast 24 hour approval and follow-through with prompt settlement. For quick commercial truck lease for all types of heavy vehicles, apply with Easy!

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