What is Rent to Own Truck Finance
Rent-to-Own Trucks is a fast and affordable alternative to financing your next truck if you do not want to or are unable to access traditional truck finance options.
Also known as Rent To Buy Trucks or Hire Purchase trucks, Rent-to-Own Trucks allows you to get to work and use the truck you need at an affordable and realistic price, similar to a truck rental but with the option to buy it outright or refinance when you’re ready, increasing the equity in your business.
As a business owner having the confidence of a fully flexible truck finance option that is tailored to suit your needs allows you to take up the work opportunities without the associated stress of traditional truck finance alternatives.
It’s designed for new businesses just starting out with a new ABN, small businesses requiring a commercial vehicle and don’t have the means yet to satisfy traditional lending, sole traders that may have some credit issues and need something with flexibility.
You can rent to own almost any type of truck, such as Prime movers, Refrigerated trucks, Tilt-tray trucks, Tipper trucks and the list goes on… if you need it to run your business, we can fund it!
How Does Rent to Own Trucks Work?
It’s an easy process to organise a rent to own truck. Once you sign your agreement with an approved lender they will then purchase a truck that you have chosen and then rent it back to you, as per a signed agreement for a specified period of time. During your rental, you’ll treat the truck as your own and you will be responsible for any operating costs, maintenance, and servicing.
Depending on the contract each month or week you will pay a fixed amount for the duration of the rent to own agreement, and at the end of the rental term, you can either return the truck or buy it. If you do end up buying the truck, each payment you made during the rental would have built equity in the vehicle, so you’ll be paying less than if you bought the truck outright at the start.
The great thing about rent to own is your rental payments are fully tax-deductible as they are classed as an operating expense. You also pay GST on each rent to own payment, so if you are registered for GST you can claim this when you do your BAS.
What kind of trucks can I rent to own?
You can rent to own either a new or second hand truck from dealers and private sellers. Best way is to find them online using the major car websites which will allow you to browse listings and specials to find the cheapest truck or most suitable truck for sale and negotiate a great price for your truck. Some examples of our most popular trucks we have financed with rent to own include:
- Prime movers
- Refrigerated trucks
- Tilt-tray trucks
- Tipper trucks
- Livestock trucks
- Cement trucks
- Crane trucks
- Car carriers
- Pantech trucks
- Water truck
- and anything else we might have missed
Who can apply for rent to own truck?
Everybody can apply, we have truck financing options to suit almost every situation:
- a catering company that need to add a refrigerated delivery truck
- a transport company that needs to replace an old prime mover that has broken down
- a courier driver starting a new contract and requires a pantech truck to start work
These are all people and truck financing scenarios we help on a daily basis.
How do I apply for Rent to Own
Simple just visit out rent to own trucks page and fill out the quick quote section and we’ll be in touch shortly.