Whether it’s the appeal of off-road adventures, the convenience of a home on wheels or the need for a reliable vehicle to support your lifestyle, owning a truck can open up a world of possibilities.
However, not everyone has the financial means to purchase a truck outright, leading many Australians to consider their financial options. In this blog, we’ll define truck loans, explore their benefits and outline the steps applicants need to take to apply for a vehicle loan with Finance One.
What is a vehicle loan?
A vehicle loan is a type of financing specifically designed for individuals looking to purchase a truck or vehicle. These loans provide borrowers with the necessary funds to acquire the vehicle and typically involve a repayment plan over a specified period. Like any other vehicle loan, there is also a featured interest rate, loan fees or other repayment features that can assist with your repayment plan.
Here are some of the benefits you can expect with a vehicle loan:
- Spread the cost — Most of us don’t have the upfront funds required to purchase a new or second-hand truck. However, they may have the budget to keep up with regular repayments. Instead of paying the full purchase price upfront, a vehicle loan allows borrowers to spread out the costs over time, making it easier to manage cash flow.
- Instant ownership — Whether you need a truck to help start your business or for weekend getaways, once you’re approved for a vehicle loan, you’ll be able to drive away with your new set of wheels in no time. This is also an ideal option for borrowers who need quick access to a truck, such as for work.
- Flexible financing options — Many vehicle loans often come with flexible terms, allowing borrowers to choose repayment plans that align with their financial situation. Lenders may offer various loan terms, interest rates and repayment schedules that can be tailored to the borrower.
- Accessible for applicants with previous credit issues — While borrowers can turn to traditional lenders, such as major banks or credit unions, specialist lenders are available to those considered bad credit borrowers. Finance One, in particular, specialises in providing finance to those with a bad credit history to fund their next purchase of a truck loans.
Thinking a vehicle loan is the right solution for your situation?
Finance One is here to help! We’re passionate about helping Australians reach their financial goals through our suite of personal and car loans. We’ve kept our lending requirements and application processes simple to ensure a smooth and simple application. Here are some of the criteria we look out for in applicants:
- Be at least 18 years of age;
- Be a permanent resident of Australia;
- Receive a regular income and have at least three months of bank statements; and
- Are looking to borrow between $5,000 and $75,000*
Ready to apply? Here's how it works:
- Complete an online application or call us on 1800 346 663 for a vehicle loan and submit the required documents, such as your driver’s licence, bank statements, proof of steady income and employment records.
- Our team will review your application, considering your financial circumstances and ability to repay the loan.
- We’ll contact you with a decision within 48 hours.
Why consider Finance One for a bad credit truck loan
Since 2010, Finance One has been a firm believer in second chances. No one’s financial past should dictate their financial future, which is why we specialise in providing bad credit vehicle loans. Our responsible lending practices allow us to assist a wide range of applicants, each with their own financial history. Aside from the unwavering commitment and support you receive as you pay off your loan, we offer a range of loan features that encourage positive financial habits.
As a Finance One customer, you will not be penalised for making early repayments to your loan, helping you pay off your loan in no time. You’re also welcome to increase your repayments anytime your budget allows. No two applicants are the same, which is why we’ve worked hard to provide a completely tailored experience, from your interest rate to your loan term.
With Finance One, you can expect a compassionate and personal approach to lending, giving borrowers peace of mind that they’re in good hands. All you need to do is submit your application and we’ll assist you with the rest.
Ready to get started? Apply for a vehicle loan with Finance One today!
Been rejected by banks? Looking to be taken seriously as a borrower? Look no further than Finance One! Whether you’re looking for a truck loan, travel or wedding loan, we may be able to assist you to realise your financial dreams.
Submit your application online or call 1800 346 663 to kickstart your application.
Apply Online NowNormal lending criteria apply. Fees and charges are payable. Terms and conditions apply.
Finance One means:
Fin One Pty Ltd – ABN: 80 139 719 903
Australian Credit Licence: 387528
*Loans between $50,000 – $75,000 must be asset backed.
**48 hour approvals subject to satisfactory documentation being provided to assess the application.
Disclaimer: The information above is of a general nature only and does not consider your personal objectives, financial situation or particular needs. You should consider seeking independent advice regarding your legal, financial, taxation or other needs, to check how the information relates to your particular circumstances. We do not accept responsibility for any loss arising from the use of, or reliance on, the information. All loan applications are subject to normal lending criteria. Fees and charges payable. Terms and conditions apply.
