Trucks are very important utility vehicles specially designed for a transport purpose. Varied businesses in Australia use varied types of trucks in their business operations. These include mining companies, construction companies and landscaping companies. Some businesses also rely on the use of trucks in transporting their merchandise. Other businesses also specialize in owning a fleet of trucks that other businesses and companies hire for transportation of their cargo or materials.

Trucks are normally expensive because of their special design. For this reason, some businesses need to go for used trucks that retail at reasonably lower process. Even so, a cash strapped business may not have the essential finance to buy used trucks. Various Australian financial institutions provide used truck financing at affordable interest rates that such businesses can take advantage of. The financial institutions consider different factors in calculating the amount of interest rates to charge for the financing. These include:

The type of used truck - There are light, medium and heavy trucks and all attract different finance interest rates.

Age of a used truck - Generally, financial institutions consider aged used trucks to be prone to breakdowns and usually to cause unnecessary accidents. They therefore charge huge interest rates.

Credit history - Financial institutions consider the credit history of a used truck financing applicant before deciding the amount of interest rate to apply on the finance. A clean credit history surely attracts low interest rate and vice-versa.

Prevailing financial market situations - A Favourable economic climate means that financial institutions charge low interest rates. However, unfavourable economic conditions make doing business hard, resulting in reduced lending activities and therefore high interest rates on loans and used truck financing availed.

Australia has built firms and companies with different types of trucks of all sizes that they lease out to businesses and companies under varied terms. Some of these companies and firms have arrangements through which a lessee can take full ownership of a leased used truck at the expiration of the lease. Small businesses with little capital and that do not meet the prerequisites imposed by financial institutions do find such firms and companies very useful for their flexible lease arrangements. Such firms provide used truck financing at reasonable and manageable monthly repayments with low interest rates. Most start up businesses that need the use of trucks have taken advantage of these firms to acquire their own trucks.