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How Does Truck Finance Differ from Other Forms of Equipment? | AGM Finance

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When businesses invest in essential tools and machinery, securing the right type of finance is critical. Truck finance and general equipment finance share some similarities, but they also have key differences that make them suited for distinct purposes. Understanding these nuances can help business owners make informed decisions tailored to their operational needs.

The Unique Nature of Trucks in Business Operations

Trucks play a pivotal role in industries like logistics, construction, and agriculture. Unlike many other types of equipment, trucks are often revenue-generating assets. A logistics company’s fleet of trucks, for instance, directly supports the business’s core function: transporting goods. This dynamic makes truck financing distinct from financing other types of equipment such as manufacturing machinery or office technology.

Here are the major differences:

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1. Purpose and Usage

– Truck Finance:
Trucks are mobile assets that often operate outside a fixed location. This mobility increases their utility but also presents challenges like higher exposure to wear, tear, and accidents. Because trucks often serve as income-generating tools, lenders view them differently, considering factors like usage patterns, mileage, and operational risk.

– General Equipment Finance:
Equipment such as machinery, tools, and computers typically operate in controlled environments. They’re stationary, reducing risks like theft and accidents. Their financing terms reflect these lower risks, often leading to simpler approval processes.

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2. Valuation and Depreciation

– Truck Finance:
Trucks depreciate based on mileage, condition, and market demand. While trucks lose value over time, their resale market is robust, making them attractive for lenders. Lenders often consider the truck’s resale value when structuring loan terms.

– General Equipment Finance:
Equipment depreciation is generally tied to usage and technological obsolescence. For example, computers depreciate rapidly due to advancements in technology. These assets may have little to no resale value after a few years, influencing stricter loan terms.

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3. Loan Structures and Repayment Terms

– Truck Finance:
Loans for trucks often feature tailored repayment plans that align with the revenue generation potential of the vehicle. Seasonal businesses, like agriculture, may benefit from flexible repayment schedules that match cash flow cycles.

– General Equipment Finance:
Loans for general equipment typically offer standard repayment schedules with less customisation. Since these assets are usually part of overhead costs rather than direct revenue drivers, repayment terms may not account for fluctuations in cash flow.

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4. Insurance Requirements

– Truck Finance:
Lenders often mandate comprehensive insurance policies, including coverage for accidents, theft, and liability. These requirements protect both the borrower and the lender, given the high-risk nature of operating trucks on public roads.

– General Equipment Finance:
While insurance is also required for most equipment finance agreements, the coverage focuses on damage, theft, and loss. Liability insurance isn’t as critical for stationary equipment, reducing overall insurance costs.

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5. Credit Assessment and Risk Analysis

– Truck Finance:
Credit assessments for truck finance often extend beyond the borrower’s creditworthiness to include the business’s operational history. Lenders consider factors like the intended use of the truck, expected mileage, and industry-specific risks.

– General Equipment Finance:
The credit assessment for general equipment finance focuses more heavily on the borrower’s financial health and credit score. Since these assets don’t typically generate direct revenue, lenders emphasise the borrower’s ability to repay rather than the asset’s projected use.

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6. Types of Finance Options

– Truck Finance:
Specialised options like lease-to-own agreements, chattel mortgages, and hire purchase are common. These structures allow businesses to manage costs effectively while benefiting from immediate use of the truck.

– General Equipment Finance:
Equipment finance options include operating leases and fixed-term loans. These options are suited for businesses that may need to upgrade or replace equipment frequently due to technological advancements.

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7. Tax Benefits

– Truck Finance:
Truck financing often provides tax advantages, such as deductions for interest payments and depreciation. These benefits can significantly reduce the cost of ownership. Pls speak to your qualified Tax agent or accountant for all tax advice.

– General Equipment Finance:
Similar tax benefits apply, but they may be less impactful depending on the equipment’s cost and expected lifespan. Businesses must consult with financial advisors to maximise these advantages.Pls speak to your qualified Tax agent or accountant for all tax advice.

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Choosing the Right Finance for Your Needs

Deciding between truck finance and general equipment finance requires careful consideration of your business’s needs. Here are some tips:

1. Evaluate the Asset’s Role: Determine whether the asset will directly generate revenue or serve as a support tool.

2. Assess Cash Flow: Understand your cash flow patterns and ensure the financing terms align with your ability to make timely repayments.

3. Consider the Total Cost of Ownership: Factor in depreciation, maintenance, insurance, and tax benefits when calculating the true cost of ownership.

4. Consult Experts: Work with leading truck finance brokers like AGM Finance who specialise in your industry to secure the best terms.

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Conclusion

Truck finance and general equipment finance each have unique characteristics designed to meet different business needs. Truck finance focuses on the revenue-generating potential of mobile assets, offering flexibility and tailored terms. In contrast, general equipment finance caters to stationary assets, emphasising predictable repayment structures and lower risk profiles. By understanding these differences, businesses can select the financing solution that aligns with their goals and operational realities.

Leasing a Commercial Truck vs. Buying or Financing | AGM Finance

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Key Takeaways

  • Commercial truck leasing typically costs $1,500 to $4,000+ per month depending on truck type, term length and included services.
  • Leasing preserves cash flow with lower upfront costs, while buying or financing builds equity in a tangible asset.
  • Both options offer tax benefits for Australian businesses, but the structure differs significantly.
  • Rent to own commercial vehicles can offer a middle ground for businesses wanting eventual ownership with lower initial outlay.
  • Your ideal choice depends on usage patterns, financial position and long-term business strategy.

Acquiring a commercial truck represents one of the most significant capital decisions a transport or logistics business will make.

For owner-operators, fleet managers and business owners across Australia, the choice between leasing a truck for business purposes and buying or financing outright can have lasting implications for cash flow, tax position and operational flexibility.

With new prime movers costing anywhere from $150,000 to over $300,000 and rigid trucks ranging from $80,000 to $200,000, getting this decision right is crucial.

What is Commercial Truck Leasing?

Commercial truck leasing is an arrangement where a business pays regular instalments to use a truck for a specified period without taking ownership. At the end of the lease term, the business typically returns the vehicle, extends the lease or exercises a purchase option if one exists.

There are several types of commercial truck leases available in Australia:

  • Operating Lease: The lessor retains ownership and bears the residual value risk. Payments are typically lower and the truck is returned at the end of the term. This is ideal for businesses wanting to upgrade regularly without the hassle of selling.
  • Finance Lease: While structurally similar to an operating lease, finance leases often include a residual payment option or balloon payment at the end. The lessee typically has an option to purchase the vehicle at a predetermined price.
  • Novated Lease: Commonly used for salary packaging arrangements, where lease payments are deducted from pre-tax salary. This is more common for passenger vehicles but can apply in some commercial contexts.

For more information on lease finance options, speak with a specialist broker who can explain the nuances of each structure.

How Much Does It Cost to Lease a Commercial Truck?

One of the most common questions business owners ask is: how much does it cost to lease a commercial truck?

Well, the answer depends on several variables, including the type of truck, lease term, included services and the lessor you choose.

Indicative Monthly Lease Costs

Truck TypeApprox. ValueMonthly Lease Range
Light Rigid (4–8 tonne)$80,000 – $120,000$1,500 – $2,500
Medium Rigid (8–16 tonne)$120,000 – $180,000$2,200 – $3,500
Heavy Rigid (16+ tonne)$180,000 – $250,000$3,200 – $4,500
Prime Mover$200,000 – $350,000+$3,800 – $6,000+

Note: These figures are indicative only and will vary based on lease term length (typically 3-5 years), residual value settings, included maintenance packages and the creditworthiness of your business. Some full-service leases that include maintenance, registration and insurance can cost 15-25% more but reduce administrative burden.

Factors That Influence Lease Costs:

  • Lease term length: Longer terms generally mean lower monthly payments but higher total cost over the lease period.
  • Residual value: A higher residual reduces monthly payments but increases your balloon payment or limits end-of-lease flexibility.
  • Included services: Full-service leases bundling maintenance, tyres and registration cost more monthly but provide predictable expenses.
  • Your credit profile: Stronger business financials typically secure better rates from lessors.

Advantages of Leasing a Truck for Business

Commercial truck leasing offers several compelling benefits for businesses prioritising cash flow management and operational flexibility.

AdvantageWhat This Means for Your Business
Lower Upfront CostsLeasing typically requires minimal initial outlay compared to purchasing. This preserves working capital for other business investments, payroll, or unexpected expenses.
Predictable Monthly ExpensesFixed lease payments make budgeting straightforward. Full-service leases can include maintenance, reducing unexpected repair costs and simplifying financial forecasting.
Regular Fleet UpgradesAt lease end, you can transition to newer models with the latest safety features, fuel efficiency improvements, and emissions technology without the hassle of selling an older vehicle.
Maintenance PackagesMany commercial truck leases include servicing arrangements, reducing administrative burden and ensuring trucks remain in optimal condition with manufacturer-approved parts and service.
Tax DeductibilityLease payments can often be claimed as business expenses, potentially providing tax advantages. Consult your accountant for advice specific to your situation.
Off-Balance Sheet TreatmentOperating leases may not appear as liabilities on your balance sheet (depending on accounting standards applicable to your business), potentially improving financial ratios for lending purposes.

Disadvantages of Commercial Truck Leasing

While leasing offers significant benefits, it comes with limitations that may not suit every business model.

DisadvantageWhat This Means for Your Business
No Ownership EquityStandard operating leases do not build equity. At the end of the term, you return the truck with nothing to show on your balance sheet. Businesses that prefer tangible assets may find this frustrating.
Kilometre RestrictionsMost leases include annual kilometre limits. Exceeding these can result in significant excess kilometre charges. High-utilisation operations like interstate freight may find these restrictions costly.
Wear and Tear ChargesLease agreements typically define acceptable wear standards. Damage beyond fair wear and tear at lease end can attract additional charges, particularly for trucks used in demanding environments like construction or mining.
Limited CustomisationLessors often restrict modifications to vehicles. If your operation requires specialised bodies, crane installations, or other custom equipment, leasing may not offer the flexibility you need.
Long-Term CostOver multiple lease cycles, the cumulative cost of leasing typically exceeds outright purchase. Businesses planning to operate vehicles for 7+ years may find ownership more economical.

Advantages of Buying or Financing a Commercial Truck

Purchasing a truck outright, or using truck finance to acquire ownership, offers advantages for businesses with the capital or credit to support the investment.

AdvantageWhat This Means for Your Business
Asset OwnershipOnce paid off, the truck becomes a tangible business asset with residual value. You can sell it, trade it in, or continue operating it without ongoing payments.
No Usage RestrictionsOwned trucks have no kilometre caps or usage limitations. High-utilisation operations running interstate routes or round-the-clock shifts benefit from unrestricted use.
Full Customisation FreedomOwnership allows complete freedom to modify the vehicle. Install specialised bodies, cranes, refrigeration units, or any custom equipment your operation requires without lessor approval.
Long-Term Cost SavingsFor trucks maintained well and operated for 7–10+ years, ownership typically costs less overall than continuous leasing. After the loan is paid off, operating costs drop significantly.
Depreciation BenefitsAsset owners can claim depreciation deductions. Recent instant asset write-off provisions have made this particularly attractive for eligible businesses. Speak with your accountant about current thresholds.
Equity BuildingEach loan repayment builds equity in the vehicle. This can be leveraged for future financing needs, and the paid-off asset strengthens your balance sheet.

Disadvantages of Buying or Financing a Truck

Purchasing or financing a commercial truck also comes with considerations that may not suit every business situation.

DisadvantageWhat This Means for Your Business
High Initial Capital RequiredEven with finance, deposits and monthly repayments on truck loans are typically higher than lease payments. This can strain cash flow, particularly for startups or businesses with seasonal revenue.
Depreciation RiskCommercial trucks depreciate rapidly, particularly in the first few years. A new truck can lose 20–30% of its value in the first two years alone. Selling a truck later often results in less return than anticipated.
Full Maintenance ResponsibilityOwners bear complete responsibility for all servicing, repairs, and unexpected breakdowns. Major component failures (engine, transmission, differential) can cost tens of thousands of dollars with little warning.
Technology ObsolescenceTruck technology evolves rapidly. Purchased vehicles may lack future safety features, emissions compliance, or telematics capabilities that newer models include. This can affect operational efficiency and regulatory compliance over time.
Disposal ResponsibilityWhen you own the truck, selling it is your responsibility. Finding buyers, negotiating prices, and managing paperwork takes time and effort that leasing eliminates.

Rent to Own Commercial Vehicles

For businesses seeking a balance between the flexibility of leasing and the eventual ownership of buying, rent to own commercial vehicles arrangements offer an alternative path.

Rent to own (sometimes called lease to own) structures typically work by:

  1. Making regular rental or lease payments over a set period (usually 3-5 years).
  2. A portion of each payment contributing toward the eventual purchase price.
  3. At the end of the term, you can purchase the vehicle for a predetermined residual amount.

Benefits of rent to own arrangements:

  • Lower initial outlay than traditional financing
  • Ability to “try before you buy” and confirm the truck suits your operation
  • Eventual ownership and equity building
  • Flexibility to walk away at lease end if circumstances change

Considerations:

  • Total cost over the full term may exceed traditional financing
  • Residual purchase prices vary significantly between providers
  • Usage restrictions may still apply during the rental period

Quick Comparison: Leasing vs Buying at a Glance

FactorLeasingBuying/Financing
Upfront CostLowerHigher
Monthly PaymentsGenerally lowerGenerally higher
OwnershipNo (unless lease-to-own)Yes
Kilometre LimitsYes, typically appliesNo limits
CustomisationLimited/restrictedFull freedom
MaintenanceOften includedOwner responsibility
Fleet UpgradesEasy at lease endRequires sale/trade-in
Long-Term CostHigher over timeLower if kept long-term
Best ForCash flow priority, frequent upgradesLong-term use, high utilisation

Which Option Is Right for Your Business?

The best choice between commercial truck leasing and buying depends on your specific circumstances. Consider the following scenarios:

Leasing may be better if

  • You want to preserve working capital for other investments
  • Predictable monthly expenses are important for your budgeting
  • You prefer driving newer vehicles with current technology
  • Your usage falls within typical kilometre limits
  • You do not require significant modifications to the vehicle

Buying or financing may be better if

  • You plan to keep the truck for 7+ years
  • High utilisation means you would exceed lease kilometre limits
  • You need to customise the vehicle with specialised equipment
  • Building balance sheet equity is a priority
  • You have the capital or creditworthiness to secure favourable finance terms

Frequently Asked Questions

Is it better to lease or buy a truck for a small business?
For small businesses, leasing often makes sense when cash flow is a priority and you want predictable expenses. If you have strong capital reserves and plan to keep the truck long-term with high utilisation, buying may be more economical.

Can I claim lease payments as a tax deduction?
Generally, lease payments for commercial vehicles used in business operations are tax-deductible expenses. The specific treatment depends on your business structure and the type of lease. Always consult a qualified accountant for advice specific to your circumstances.

What happens if I exceed the kilometre limit on a truck lease?
You will typically pay an excess kilometre charge for each kilometre over the agreed limit. These charges vary by lessor but can range from 10 to 30 cents per kilometre. For high-utilisation operations, this can add up quickly. Discuss your expected usage with your finance broker to set appropriate limits from the start.

Can I buy a truck at the end of a lease?
With finance leases and rent to own arrangements, yes. Operating leases may also offer a purchase option at market value. The terms vary significantly between lessors, so clarify the end-of-lease options before signing.

What credit score do I need to lease a commercial truck?
Requirements vary by lender. Traditional bank lessors typically require stronger credit profiles, while specialist commercial vehicle financiers may offer more flexible criteria. A broker can help match you with appropriate lenders for your situation.

Is maintenance included in a truck lease?
It depends on the lease type. Full-service or maintained operating leases include servicing, while finance leases typically do not. Full-service leases cost more monthly but provide predictable maintenance expenses.

Making the Right Decision for Your Business

The choice between commercial truck leasing and buying comes down to your business priorities, financial position and operational requirements.

Leasing offers flexibility, lower upfront costs and ease of upgrading, making it ideal for businesses that prioritise cash flow management and access to modern technology.

Buying or financing suits businesses seeking full control, long-term cost savings and the ability to customise vehicles to specific operational needs.

Before making a decision, consult with financial experts and consider your operational requirements, growth plans and the total cost of each option over your expected ownership or lease period.

AGM Finance can help you compare commercial truck leasing and finance options from over 40 lenders. Get a decision in as little as 24 hours with competitive rates from 5.95%. Contact us today for a free, no-obligation quote.

 

How Much Does a Prime Mover Driver Make in Australia? | AGM Finance

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Prime Mover driving is a critical component of the logistics and transportation industry in Australia, ensuring the timely and efficient movement of goods across the continent.

The earnings of Prime Mover drivers in Australia can vary based on several factors, including experience, type of employment, and the specific industry served.

Factors Influencing Earnings

  1. Experience: Generally, more experienced drivers earn higher wages due to their ability to handle complex routes and cargo with greater efficiency.
  2. Employment Type: Drivers can be employed directly by companies (company drivers) or operate as owner-operators. Owner-operators, who own their trucks, typically earn more but also have higher operational costs.
  3. Type of Cargo: The cargo type, such as hazardous materials or oversized loads, can influence pay rates due to the additional skills and certifications required.
  4. Route and Distance: Drivers who handle long-haul routes often earn more than those working on local routes due to the longer hours and more complex logistics involved.
  5. Geographical Location: Salaries can also vary significantly across different states and territories in Australia.

Average Earnings

As of recent data, the average salary for a Prime Mover Truck driver in Australia varies widely but typically falls between AUD $70,000 and AUD $900,000 per year.

More experienced drivers, particularly those who specialise or work as owner-operators, can see annual earnings in excess of AUD $120,000.

Detailed Salary Breakdown

  • Entry-Level Drivers: Starting salaries for new drivers are generally lower but can increase quickly with experience and additional endorsements for special types of cargo.
  • Experienced Drivers: Experienced drivers can negotiate higher pay rates, especially if they have proven records of reliability and efficiency.
  • Owner-Operators: Although they face costs like fuel, maintenance, and insurance, owner-operators often have the highest earning potential, depending on their business acumen and the contracts they secure.

Additional Benefits

In addition to their wages, Prime Mover truck drivers in Australia may receive several other benefits, including:

  • Superannuation: Contributions made by employers towards the driver’s retirement fund.
  • Leave Entitlements: Paid vacation, sick leaves, and sometimes paid holidays.
  • Bonus and Incentives: Many companies offer bonuses for safe driving records and efficiency.

Conclusion

A career as a Prime Mover truck driver in Australia can be both challenging and financially rewarding.

The profession offers diverse opportunities across various industries, from agricultural to industrial sectors. As drivers gain experience and possibly venture into owner-operator roles, their earning potential increases significantly.

For those looking to start or expand their career in truck driving, securing the necessary finance for a truck can be a hurdle.

AGM Finance offers tailored financial solutions to help drivers acquire trucks and equipment, supporting their growth and stability in the industry.

With their expertise in truck loans and equipment finance, AGM Finance is equipped to provide competitive, low-cost financial solutions to meet the unique needs of each driver or business.

How To Get a Prime Mover License | AGM Finance

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Driving a Prime Mover or a Rigid Truck is a profession that demands high responsibility and specialized skills.

In Australia, obtaining a truck license involves a series of steps designed to ensure that drivers are equipped with the necessary knowledge and abilities to safely operate large vehicles on public roads.

Here’s a comprehensive guide on how to acquire a Prime Mover or a Rigid Truck license in Australia, concluding with how AGM Finance can assist you in financing your journey to becoming a licensed driver.

Eligibility Requirements

Before embarking on the process of obtaining a Prime Mover or a Rigid Truck license, ensure you meet the following criteria:

  • Age: You must be at least 18 years old.
  • Standard License: Hold a current full car license, typically for a minimum period that varies by state.
  • Medical Fitness: Pass a medical examination to prove fitness for operating a heavy vehicle.

Steps to Obtain a Heavy Vehicle License

  1. Choose the Correct License Class
    1. In Australia, Prime Mover or a Rigid Truck are covered under the Heavy Rigid (HR) or Heavy Combination (HC) license classes. Decide which class fits your career goals. HR allows you to drive rigid vehicles with three or more axles. HC is required for vehicles with a trailer.
  3. Enroll in a Registered Training Organization (RTO)
    1. Look for a recognized RTO that offers training for the truck license class you need. These organizations provide both theoretical and practical training modules tailored to heavy vehicle operations.
  4. Complete the Training Course
    1. Participate in the comprehensive training program, which includes understanding road safety, vehicle maintenance, and handling large vehicles. The duration of the course can vary depending on the complexity and the training provider.
  5. Pass the Knowledge Test
    1. After training, you’ll need to pass a written knowledge test that covers road rules and safety guidelines for heavy vehicles.
  6. Pass the Practical Driving Assessment
    1. Demonstrate your driving skills in a practical test administered by your RTO or a certified assessor. This will test your ability to safely maneuver a  Prime Mover in various traffic conditions and environments.
  7. Obtain Your License
    1. Upon successfully passing the practical assessment, you can apply for your license. You’ll receive a license that allows you to legally drive a Prime Mover or a Rigid Truck on Australian roads.

Maintaining Compliance and Further Training

  • Continuous learning and compliance are key in the trucking industry. Keep abreast of new regulations and consider additional training, such as advanced driving skills or specialized cargo handling.

How AGM Finance Can Help

As you embark on your journey to obtaining a  Prime Mover license, consider the financial aspects of training and acquiring a vehicle.

AGM Finance, a leading brokerage firm in Australia, specializes in low-cost financial solutions for clients across various industries, including transportation.

Whether you’re looking to finance your training or purchase your first Prime Mover or a Rigid Truck, AGM Finance can tailor a financial solution to meet your unique needs.

With over two decades of experience and multiple awards for excellence, AGM Finance offers competitive financing options that can help you launch or advance your career in truck driving.

Their expertise in truck and equipment finance ensures that you receive the best rates and service, helping you to successfully navigate the financial aspects of your new career.

Conclusion

Obtaining a  Prime Mover license in Australia is a structured and comprehensive process designed to prepare you for a career in truck driving.

By following these steps and taking advantage of the financial solutions offered by AGM Finance, you can set yourself up for success in the thriving and essential field of truck transportation.

What Are The Worst Things That Can Happen If You Don’t Pay Truck Loans? | AGM Finance

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When considering a truck loan, it’s essential to understand not just the benefits and conveniences it brings but also the potential consequences of failing to meet repayment obligations. Defaulting on a truck loan can have serious implications, affecting not just your financial health but also your personal life and business operations if you use the truck for work.

Here’s a comprehensive look at the worst things that can happen if you don’t pay your truck loan.

 

1. Damage to Your Credit Score

One of the immediate effects of missing a truck loan payment is the damage to your credit score.

Lenders typically report late payments to credit bureaus once they’re 30 days past due. A single late payment can cause a significant drop in your credit score, making it harder to obtain financing in the future. The impact is more severe if the delinquency escalates beyond 60 or 90 days, with the negative mark remaining on your credit report for up to seven years.

2. Increased Financial Burden

Failing to pay your truck loan on time can lead to various financial penalties, including late fees, higher interest rates, and additional charges. Some lenders may impose a penalty APR (Annual Percentage Rate), which significantly increases your interest rate, thereby raising your monthly payment and the total cost of the loan. This increased financial burden can make it even more challenging to catch up on missed payments.

3. Repossession of the Truck

If you continue to default on your loan, the lender has the right to repossess the truck. Repossession laws vary by state in Australia, but generally, lenders can repossess your vehicle without notice once you default on the loan.

Losing your truck can have a profound impact, especially if you rely on it for your livelihood or daily transportation. Additionally, the repossession will be recorded on your credit report, further damaging your credit score.

4. Legal Action and Wage Garnishment

In some cases, if the sale of the repossessed truck does not cover the outstanding loan balance and associated costs, the lender may take legal action to recover the remaining debt. This could result in a court judgment against you, leading to wage garnishment or the seizure of other assets. Wage garnishment means a portion of your income will be directly taken to pay off the debt, significantly affecting your financial situation.

5. Difficulty Obtaining Future Loans or Higher Interest Rates

A history of default and repossession makes you a higher risk to lenders, which can make it difficult to obtain future loans, including mortgages, personal loans, or business financing. If you are able to secure a loan, you may face significantly higher interest rates, increasing the cost of borrowing.

6. Impact on Personal and Professional Life

Beyond the financial repercussions, defaulting on a truck loan can strain personal relationships, especially if you’ve co-signed the loan with someone else. It can also affect your professional reputation, particularly if you use the truck for business purposes or if your occupation requires a clean financial record.

7. Long-term Financial Strain

Recovering from the financial strain of a defaulted loan takes time. You may find it challenging to rebuild your credit score, save money, or make future purchases. The long-term financial implications can hinder your ability to achieve personal and financial goals.

Conclusion

Defaulting on a truck loan has severe consequences that extend beyond financial penalties. It’s crucial to consider these potential outcomes before taking on a loan and to communicate with your lender if you’re facing financial difficulties.

Lenders may offer options such as loan modification, refinancing, or payment plans to help you avoid default.

For those in Australia considering a truck loan or facing difficulties with current loan repayments, AGM Finance offers expert Equipment Finance solutions tailored to your needs. Our repayment calculator can help you plan ahead and be informed.

With a deep understanding of the challenges and complexities of truck financing, AGM Finance can provide guidance and support to help you navigate and avoid the severe repercussions of loan default. 

We’ve been providing truck finance for customers across Brisbane, Sunshine Coast, Sydney, Melbourne, Adelaide, Canberra, Perth and more for over 25+ years. Contact us today to find out how our loan services can help you and your business.