What Is a Truck Leasing Company?

Ever worried about how to get the reliable transportation your business needs without breaking the bank or getting stuck with a truck forever?

Truck leasing companies are your answer!

They provide a cost-effective and flexible alternative to buying a truck, so you can focus on running your business, not managing a fleet.

What Is a Truck Leasing Company? 

A truck leasing company specializes in providing businesses and individuals with access to a diverse range of trucks on a lease or rental basis.

These companies cater to various needs, offering everything from light-duty delivery vans to heavy-duty commercial trucks.

Opting for leasing over purchasing allows businesses to avoid hefty upfront costs and ongoing maintenance expenses associated with vehicle ownership.

How Do They Work?

Here’s a simplified breakdown of the truck leasing process:

  • Choose Your Truck: Select a truck that perfectly aligns with your business needs, considering factors like load capacity, fuel efficiency, and features. Leasing companies offer a diverse selection of trucks, from light-duty pickups to heavy-duty haulers.
  • Craft a Lease Agreement: Work with the leasing company to tailor a lease agreement that fits your specific requirements. This will determine factors like the lease term, mileage allowance, and maintenance inclusions.
  • Hit the Road! Once the agreement is finalized, you’ll receive the truck and make regular lease payments throughout the lease term. During this time, you’ll enjoy the benefits of using the truck without worrying about depreciation, major repairs, or resale hassles.

What Advantages Do They Offer?

  • Lower Upfront Costs: Unlike buying, leasing requires a smaller down payment, freeing up capital for other crucial business investments.
  • Predictable Budgeting: Fixed lease payments provide superior budget predictability compared to ownership costs, streamlining your financial planning.
  • Access to Newer Trucks: Leasing allows you to utilize the latest models with advanced safety features and fuel-efficient technologies, optimizing your operations and minimizing downtime.
  • Flexibility: You can choose lease terms and mileage allowances that perfectly align with your business activities. Some companies even offer upgrade options at the end of the lease term.
  • Simplified Maintenance: Many lease agreements include routine maintenance, reducing your burden and keeping your truck running smoothly.

Who Can Benefit from Truck Leasing?

Truck leasing is a compelling option for a variety of businesses:

  • Startups: Conserve capital for crucial investments while securing reliable transportation.
  • Growing Businesses: Scale your fleet up or down as your business needs evolve without the complexities of ownership.
  • Companies Prioritizing Efficiency: Utilize the latest technology and minimize downtime associated with maintenance.

Choosing the Right Truck Leasing Company

When selecting a leasing partner, businesses should consider several factors:

  • Reputation and Experience: Look for companies with a proven track record and industry experience.
  • Service Level Agreements: Review terms of maintenance and support services included in the lease agreement.
  • Cost Transparency: Ensure clarity regarding lease terms, fees, and additional charges to avoid surprises.
  • Customer Support: Evaluate responsiveness and support offered by the leasing company, especially in emergencies or unexpected situations.

Finding the Right Truck Leasing Company

Proactively research different options and compare their offerings. Prioritize finding a company that aligns perfectly with your budget and business needs.

Don’t be shy!

Ask questions to ensure you fully understand the terms of the lease agreement before signing on the dotted line.

By partnering with a truck leasing company, you gain access to reliable transportation solutions that empower your business to grow and thrive.






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Government Support for Truck Operators

There are several government assistance programs and initiatives available to truck operators in Australia. These programs aim to support the transport and logistics industry, which plays a crucial role in the country’s economy.

Please keep in mind that programs and policies may change over time, so it’s essential to check with the relevant government agencies or consult a business advisor for the most up-to-date information. Here are some of the common forms of government assistance for truck operators in Australia:

1. Fuel Tax Credits

(FTC)The Australian government provides Fuel Tax Credits to businesses that use fuel in eligible machinery, including trucks. These credits help offset the excise or customs duty paid on fuel. To claim FTC, businesses need to be registered for the program and meet certain eligibility criteria.

2. Heavy Vehicle Road User Charge (RUC) Rebate

The Heavy Vehicle RUC Rebate scheme offers a rebate to truck operators who use eligible heavy vehicles on certain public roads. It aims to offset some of the costs associated with heavy vehicle road use.

3. Funding for Infrastructure and Roads

Governments at the federal, state, and territory levels often allocate funds for the construction, maintenance, and upgrading of road infrastructure. These projects can benefit truck operators by improving road conditions and reducing transport times.

4. State-Specific Grants and Subsidies

Different states and territories in Australia may offer their own grants, subsidies, or programs to support the transport and logistics industry. These can include financial incentives for fleet modernization, safety improvements, or environmental initiatives.

5. Industry Associations and Support Organizations

Industry associations like the Australian Trucking Association (ATA) and state-based trucking associations often provide resources, information, and advocacy on behalf of truck operators. They can help connect operators with available government assistance programs.

6. Skills and Training Support

Governments may offer funding or subsidies for training and development programs for truck drivers, including initiatives related to safety, compliance, and upskilling.

7. Safety and Compliance Programs

There are various government initiatives and regulations aimed at improving safety in the trucking industry. Staying compliant with safety regulations can be crucial for accessing certain government contracts and benefits.

8. Environmental Initiatives

Some government programs encourage truck operators to adopt environmentally friendly practices and technologies, such as funding for low-emission vehicles or programs to reduce emissions.

9. COVID-19 Support Measures

During the COVID-19 pandemic, the Australian government introduced various support measures, including financial assistance, for businesses affected by the crisis. These measures may have included support for the transport and logistics sector.

To access these programs and benefits, truck operators should contact the relevant government agencies at the federal, state, or territory level, as well as industry associations for guidance and assistance. Additionally, working with a financial advisor or accountant who specializes in the transport industry can help operators navigate available programs and ensure compliance with eligibility requirements.

How to Determine the Best Time to Sell a Truck

Let’s face it: It’s tough. Waving goodbye to your cherished truck, your road-trip buddy, your reliable workhorse, isn’t just an everyday decision. Trucks aren’t merely vehicles. They are silent participants in our life’s journeys, silent witnesses to numerous escapades and memories. So, when the echoes of hefty repair bills start drowning out the truck’s comforting purr, or when that burdensome truck loan begins to feel like you’re hauling a heavy load uphill, selling might be the route you need to take.

But hey, we’ve got you. Navigating this winding road can feel like maneuvering through a tricky off-road track, and that’s why we’re here. Think of this as your off-road navigation guide. From balancing the fiscal tightrope between continuing payments on your truck loan or selling your trusted companion, to examining all the diverse pathways you could traverse post-sale, we’re your trusty GPS, guiding you through the journey.

Unveil the Truth: Is it Time to Sell Your Truck?

Knowing when to sell your truck is more of an art than a science. It’s an equation of sentiment, finance, and practicality. Here’s how to decipher the signals:

Desire for a Newer Model

If you’ve been dreaming of a shiny, new truck, the sale of your old truck can provide you with a substantial down payment. Not only will this action potentially free you from monthly payments but also it will eliminate the need for costly repairs or maintenance. Plus, think of all the advanced features your new truck will offer!

Skyrocketing Repair Costs

We’ve all been there – the dreaded breakdowns, unpredictable issues, and costly repairs. As your truck ages, these instances can become more frequent and expensive. If this sounds like your situation, selling might be the smarter option. Why not trade in the repair bills for a newer, more reliable model?

Changed Life Circumstances

Life is constantly evolving. Maybe you’ve moved to a city where owning a truck is no longer practical, or perhaps your financial situation calls for some extra cash. If the truck isn’t fitting into your lifestyle or needs anymore, selling could be a beneficial move.

Pimp Your Ride: Preparing Your Truck for Sale

So, you’ve decided to part ways with your trusty truck. What’s next? Preparing it for sale is key to getting the best price. Here’s how to make your truck irresistible to potential buyers:

  • Give it a Spa Day: Give your truck a good wash and wax. Make it gleam as it did on day one.
  • Fix What You Can: Tend to minor damages like cracked windshields or dents. A truck in good condition always fetches a better price.
  • Maintenance Check: Change the oil and filter for a smoother ride and better selling price.
  • Declutter and Clean: Remove personal items, vacuum the interiors, and make it feel like new.
  • Highlight its Features: List all features and amenities of the truck to showcase its value.

Options to Sell: What’s the Best Route for You?

Once your truck is prepped and ready, it’s time to select the best avenue for selling:

  • Sell to a Dealership: If you’re looking for an easy way out with minimal haggling, selling to a dealership could be your best bet. They might offer a lower price, but the simplicity and speed might outweigh the price dip.
  • Sell Privately or Auction: Selling privately or via auction might fetch a higher price but requires more time and effort.
  • Trade-in for a New Vehicle: If you’re planning on buying a new truck, trading in your old one is a convenient option. However, carefully weigh the pros and cons to ensure you get the best deal.

Invest in the Future: How to Utilize the Money?

You’ve sold your truck, and now you have a windfall. This money could help pave the way towards many opportunities, whether it be a new vehicle, a down payment for a house, funding a dream vacation, home renovations, or even a new boat or RV. Alternatively, investing the funds for future use might also be a smart move.

While the world is your oyster with these newfound funds, ensure that you weigh your options carefully. Consider your current financial situation, future goals, and potential risks before making a decision.

Conclusion: Driving Towards a Brighter Future

Selling your truck is a monumental decision that involves a balance of emotion, practicality, and financial considerations. Whether you’re looking to upgrade to a new model, tired of mounting repair costs, or just want to turn your truck into liquid assets, our guide is here to help you navigate the process.

Follow our tips to prepare your truck for sale and choose the right selling method that suits your needs. Then, wisely utilize the money you earn to enhance your future.

Remember, saying goodbye to your old truck doesn’t have to be a painful process. Instead, view it as a strategic move towards your future goals. After all, the end of one journey signifies the beginning of a new one.

Technology Improvements for Heavy Vehicle Safety

The improvement of technology to increase the safety of heavy vehicles is an ongoing goal for transportation companies and vehicle manufacturers alike.

In recent years, new advancements have been made, including mandatory tire pressure monitoring systems in all heavy vehicles, backup cameras and audio alerts, integrated collision stability systems, and lane departure warnings.

These features, along with driver training programs that include proper load management techniques, are helping to reducing fatalities related to large vehicle accidents.

As technology continues to improve, it’s likely we will see even greater safety improvements in the near future for these types of vehicles.

Whether you’re the driver of a heavy vehicle or a fleet manager, on-road safety is always a priority to prevent injury, fleet damage or worse still, a fatality.

While there have been many improvements to driver training and regulation over the years, and education of young motor-vehicle.

Drivers is essential to reducing the rate of multi-vehicle crashes, technology also plays a role in delivering a safer future for heavy vehicle drivers.

A report investigating the safety features and technologies for heavy vehicles, issued by NSW Transport, has identified many safety improvement opportunities, including three key technologies:

1. Autonomous Emergency Braking (AEB) Systems

Research suggests that if all heavy vehicles were fitted with AEB systems, the fatality rate of heavy vehicle crashes would be reduced by 25 per cent.

Considering that approximately 80 per cent of fatal multi-vehicle crashes involved a heavy vehicle.

A 25 per cent reduction in fatalities would significantly improve on-road safety for both car and heavy vehicle drivers.

An AEB system warns the driver of a truck or heavy vehicle when a crash threat is identified in front of the vehicle and applies braking.

The system relies on a radar or optical sensor, and some advanced systems are capable of detecting and protecting cyclists and pedestrians, as well as cars.

Unfortunately, this system cannot be retrofitted in a cost-effective way, so it is a technology that should instead be sought-out in new-vehicle purchases.

2. Lane Departure Warning Systems (LDWS)

A large number of heavy vehicle crashes involve running off the road, meaning a preventative technology like LDWS is highly beneficial to heavy vehicle drivers.

Though all highway drivers can benefit.

The system warns drivers when their vehicle unintentionally crosses a lane boundary and can be retrofitted onto older vehicles.

Research suggests that when the system is fitted on heavy vehicles, it may prevent about six per cent of fatal heavy vehicle crashes.

3. Electronic Stability Control (ESC) System

An ESC system has the potential to effectively avoid rollover crashes by minimising trailer swing when the brakes are suddenly and severely applied to a heavy vehicle.

The system works by assessing a drivers intended path, comparing this with the actual direction and the vehicle’s performance.

It is estimated that when fitted to a heavy vehicle, ESC systems may prevent around four per cent of heavy vehicle crashes.

The technology cannot be retrofitted to older trucks without significant financial outlay, making it another technology that should be sought when making a new purchase.

4. Driver monitoring systems

Aside from these three technologies, there is also a selection of driver monitoring equipment to improve safety, prevent crashes, and provide analytics for future crash prevention.

Two examples produced by DriveRisk are DriveCam and DriveAlert both can be retrofitted.

5. DriveCam

DriveCam records up to 100 hours of video evidence of what’s happening on the road and/or inside the driver’s cabin.

This can be helpful in the event of an accident, and also provides support for long-term behavioural changes and coaching.

6. DriveAlert

DriveAlert tracks the eyes and facial features of heavy vehicle operators to detect fatigue and distracted driving behaviours.

It can then alert the driver, predicting and preventing risky behaviours.

Both DriveCam and DriveAlert can also be beneficial when making insurance claims.

If you’re looking for the latest developments in truck driving safety and anything related to trucks, be sure to check out our blog. You can also talk with an expert from our finance team who will help identify remarkable ways of investing in technology that could make your fleet safer—simply give us a call at 1300 664 687!

Truck Driving Safety

In 2019, the National Transport Insurance company found that the number of truck driver fatalities more than doubled in 2019 when compared to any year over the past decade.

The same report also found cars were responsible for about 80 per cent of deadly multi-vehicle crashes involving trucks, though, truck drivers were less likely to be killed in these scenarios.

And young drivers (18-25 years old) were four times more likely to be involved in serious or fatal crashes.

Considering that trucks transport about 75 per cent of Australia’s domestic freight, and that figure is expected to double by 2030 (meaning, more trucks will be on our roads), Australians need a two-sided educational approach to truck safety.

One that encompasses how to share the road with trucks safely and how truck drivers can minimise the associated risks of their job.

How Drivers Can Safely Share the Road With Trucks

There are several things car drivers can do to prevent accidents when sharing the road with heavy vehicles.

Be aware of truck blind spots

On average, trucks have four blind spots. These are directly in front of the truck, beside the truck driver’s door, on the passenger side (this one runs the entire length of the truck and extends out three lanes!), and 10 metres behind the truck.

Keep your distance and give plenty of notice

Trucks are heavy, which means they are slower to stop than a car. Considering it will take longer for a truck to stop, and they have multiple blind spots, keeping your distance and giving plenty of notice for turns and stops is vital.

Lane changes can be dangerous

Avoid unnecessary lane changes and stick to your side of the road, away from heavy vehicles, for the simple reason that trucks cannot easily get out of your way. Likewise, when a truck needs to change lanes, give the vehicle plenty of space.

Don’t be a distracted driver

Mobile phones, food packaging, stereo systems and fatigue can all contribute to potentially fatal accidents. Avoid distractions by keeping your mobile phone in the boot, pre-tuning your radio, setting your playlist in advance or pulling over for snacks. Regular stops where you stretch your body, walk or jog will also prevent fatigue and cramped muscles.

How Truck Drivers Can Mitigate Risk

No person should ever go to work and not return home, but unfortunately, that’s not the reality.

Accidents happen, and according to a 12-year study by Monash University, being an Australian truck drive puts you at 13 times more risk of dying at work than other Australian workers.

Truck driving is one of Australia’s most dangerous jobs.

While the logistics industry continues to advance digital technology aimed at improving driver safety, here’s what you can do right now to minimise your risk of accidents.

Always drive to the speed limit

Every job has deadlines, and part of a truck drivers job is to get to your destination on time. But no one is going to benefit from an accident, so please, follow the speed limits and adjust your driving speed to suit the conditions.

Avoid driving fatigued

Get plenty of sleep whenever possible, and follow the industry regulations about how many hours you can drive without breaking.

If you need to break more frequently: do so. A tired driver is a dangerous driver.

Regular exercise, plenty of water, and light, healthy snacks instead of heavy meals can also improve driver energy levels (see our previous blog here).

Stay focused

Whether you’re driving a bike, car or truck, drivers need to avoid distractions like mobile phones and radios.

Know what you are transporting

For truck drivers who are contracted to various clients and transport a range of materials, it’s important always to check what exactly you are transporting before you start driving.

This way, you can adjust your driving to suit your cargo, particularly if you are transporting hazardous goods.

You should also know the weight, height or length of your cargo to ensure the load is correctly distributed.

Contact us at AGM Finance for more information or to get started on a truck loan that words for you.