Big Truck & Equipment Purchase & Repair Financing

Big Truck Financing Repair, Truck repair Finance Loans, Heavy Truck and equipment financing. WA Trucking Company Financing for New Engine

Commercial Finance & Loans for Big Trucks, Equipment & Repairs

Fleet managers and owners who rely on their vehicles and big trucks to keep their businesses operating are facing massive supply chain disruptions. Subsequently, fleet trucks, utes, and cars (that are already under finance) are being reconditioned and repaired rather than being replaced.

How do you go about financing updates and repairs on equipment, machinery or fleet vehicles that are tied to existing loans? This scenario came across Mark O’Keeffe’s desk recently.

Read on to find out what Mark organised for our WA client.

How to Keep Driving Forward Amidst Supply Chain Constraints

Car and truck dealerships are struggling to keep up with consumer demand, let alone replace entire fleets. The Federal Chamber of Automotive Industries reported yet another decline in sales in July 2022(*2). However, August and September showed increases.

What Caused the Shortages?

The pandemic has caused shortages. When global trade came to a complete halt, demand didn’t particularly for fleet vehicles(*2). As a result, the automotive industry has been playing catch-up ever since.

The Future of Australia’s Supply Chain Looks to be Improving

On the plus side, it looks as though supply chains may be recovering.

• In September 2022, vehicle sales increased by 12.3% compared to the same time last year(*3).
• 1% was the increase in light commercial vehicles(*3).
• There has been a massive increase in sales of electric (zero and low-emission) vehicles(*3).

Keep Driving Forward

In the meantime, if you need to purchase or upgrade a fleet vehicle, please do not hesitate to get in touch. We can help you obtain a suitable financial solution – even if the vehicle is on a lease or under finance with another bank.

Case Study: WA Trucking Company Financing for New Engine

Big Truck Financing Repair, Truck repair Finance Loans, Heavy Truck Loan

The Pilbara stretches a huge 502,000km2 in Western Australia (WA) and is home to Australia’s longest highway(*4,5). The Great Northern Highway extends 3,200km across the region and is extensively used by big trucks(*5) – including our client.

The challenge: A fast turnaround on finance was needed to cover the purchase of a new truck engine. The 15-year-old truck was tied to an existing loan.

For our client, keeping their big trucks up-to-date and in good repair is essential to ensuring deliveries are made on time and drivers are safe. When they came to us to finance a new truck engine, we knew we had to deliver in record time. Every day these trucks are off the road, the company loses money and deliveries are at risk of being delayed.

Due to the supply chain issue, buying new was not an option. They had to replace the engine instead. The owner of the company did not have a spare $200,000 on hand to cover the cost outright.

The solution: Finance for the $200,000 engine was obtained in 24 hours and the other bank was updated throughout the entire process.

How we helped:

As the truck was originally bought with finance and was still being paid off, we ensured the original financier was in the loop with the added finance.

In just 24 hours, finance for the engine was organised and the truck went straight into the workshop.

Between our quick financial solution and the client’s brilliant mechanics, the truck was back on the road in just five days.

What Types of Vehicles Can be Financed?

Both used and new vehicles, equipment and machinery can be considered for finance.

• Light commercial vehicles.
• Heavy commercial vehicles, including big trucks.
• Passenger vehicles.
• Agricultural equipment and machinery.
• Equipment and machinery for other industries.

What Types of Repairs Can be Financed?

We can organise finance for any repairs or updates needed to keep your fleet operating as normal. Talk to us about your unique situation.

Repairs & Reconditioning on Big Trucks for Mining Can be Financed

Big Truck Financing Repair, Truck repair Finance Loans

We are finding this situation regularly because of supply chain issues for new vehicles. So, a lot of vehicles out there are needing reconditioning and new parts to keep them up to the latest specifications.

If you are in a similar situation, please contact us because we are experts in commercial finance and dedicated to helping every client.

Big Truck Financing Repair, Truck repair Finance Loans, Heavy Truck and equipment financing

*1. O’Keeffe, M. Pilbara Truck Motor Finance Loans in Western Australia. Trans Pacific Finance. YouTube video. 2022.
*2. Federal Chamber of Automotive Industries. Supply Constraints Continue to Restrain New Vehicle Market. Media Release. July 2022. • Skip bin truck loans approved
*3. Federal Chamber of Automotive Industries. Representing the Australian Auto Industry. 2022.

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