Suppose your company has just won a mining contract, and you are looking to assemble an additional fleet of heavy-duty service trucks because your existing fleet is already deployed on another project. In that case, you’ll need to consider the best way to finance the additional equipment required.
Here’s where our “Truck Finance ” is available as a smart option to preserve working capital and business cash flow while factoring the repayments into the revenue calculations of the contract the new equipment will be servicing.
There are Finance companies and banks available today that can provide the needed funding and other financial solutions to help you with the acquisition of required capital equipment.
Whether you operate your own business or work together as a partner or stakeholder, these equipment financing companies make it straightforward and easy without the traditional red tape involved with large corporate lenders.
So, here are some of the benefits of utilising finance solutions for your Service Truck purchases:
Whether you’re a startup or an already established business, you know how important it is to preserve working capital to sustain your enterprise’s continual operation. This is what service truck financing allows you to do. Simply put, by making monthly payments towards your service truck loan, you will be able to pay for the service trucks and equipment required without drawing down from your company’s cash reserves.
Keeping up your working capital will help you maintain the solvency of your business by providing an uninterrupted flow of business operations. Working capital should be used for salaries, wages and other day-to-day commitments, which is essential for maintaining employees, increasing their efficiency, and enhancing your company’s overall productivity and profits.
Preserving working capital will enable your company to make prompt payments to your suppliers and service providers, which will help create and maintain your company’s goodwill throughout the industry.
Proper management of working capital is not only essential for your company’s fundamental financial health but is a hallmark of good business management to maintain a solid balance between growth, profitability and liquidity.
Another significant benefit of service truck finance is that the trucks’ loan or rental terms can be set up to match your existing work contracts. Plantman’s lending providers:
Ledge Finance offers a range of different finance solutions, including:
Ledge financing is particularly beneficial for people wanting to maintain equipment for the majority of its useful life. Financing leasing through Ledge gives you flexibility to ultimately buy the equipment outright, continue leasing or even sell to a third party at the end of the lease term.
Offers a Rent Now, Buy Later agreement. This lets you rent the equipment you need for a period of 12 months or more, with easy to manage, regular payments. At the end of the loan term, if your work contract is extended, you have the option of purchasing the equipment from us.
Unlike other rental systems, Yellowgate allows you to use the previous rental payments you’ve made to contribute to the cost of equipment. So, there’s no more dead rent money if you decide you’d like to buy.
The benefit to you as the customer is the fact you can get the equipment you need, fast. You don’t have to wait around for loan approval to finance an outright purchase. Simply align your rental period to your work contract, and you’ve got flexibility down the track.
When you opt for Financing a truck through financial companies, you can avail the comfort and advantage of “Capex Relief”. Capex relief, put in simpler terms means reduction or saving of capital expenditure of your company. The funds that are usually meant to acquire, upgrade, and maintain physical assets, such as property, buildings, technology or equipment, are conserved, improving your company’s balance sheet.
Since capital expenditure is attributed to the purchase of assets whose usefulness or value to your company exceeds one year, taking a truck loan from a finance company allows for special rental agreements that will enable you to keep this expense off the balance sheet. It will not add up as capital expenditure for your company.
These finance companies thereby will help you effortlessly expand your fleet of service trucks required for your business and provide a good service offering without hammering your balance sheet.
Additionally, this enables you to better plan the capital expenditure for your company to take advantage of the ‘Capital Allowances Super-deduction’.
Truck finance brokers or truck finance companies do not work for the banks, and they can help you find the right finance that suits your needs and enables you to lower your company’s capital expenditure. A finance broker company will help you with their guiding experts in the financial field. They can provide you with all the knowledge needed for your situation and recommend a loan that best suits your current circumstances. Not only will they do all the hard work of finding the right loan, but they also look after the loan application, produce documentation to speed up the approval processes. They’ll make all the necessary calls and then see it right through to the settlement of the loan and finally help you gain that ‘Capex Relief’ on your balance sheet!
Get Flexible and Easy Equipment Finance with Plantman’s Lending Providers – “Ledge Finance & Yellowgate”
Ledge Finance and Yellowgate have been successful in putting together some great business minds in the construction and finance sector to offer the industry something it direly needs, that is, more flexible funding solutions, unlike traditional funding to back businesses into their fleet purchases. They are both one of the best options in Australia’s provider of flexible asset finance solutions to the civil and mining construction industry.
These finance options provide a more flexible, cost-effective machine and equipment financing solution that the industry needs to enable ambitious operators and business owners to adapt to the short-term and long-term peaks and troughs of working in construction and mining.
Reach out today to discuss in further detail how we can put together a deal that gets you and your business to the next level whilst providing the guarantee of solid and reliable financial backing.
Excellent Service, catered to our needs with ease, delivered on time and very competitive prices. Kept in touch through the whole process, the machine was in excellent condition, operating above expectations. Ashley was very easy and professional to deal with, talked us through the whole process. The operator is very pleased with the machine. Would highly recommend it.
Stephen Casey Work Supervisor
From the start working with Frank regarding setting up a different style of service body was more than helpful, and this enabled us to get a truck that meets our requirements. Pricing was good and there were no issues when we made changes when they were requested. The response was excellent, I have made multiple requests to have other things added and modified from learnings here on-site and these were done to a great standard. The delivery was good even due to the Covid restrictions. We were very happy with the result and will be recommending Plantman if requested and hopefully dealing with Plantman in the future when we upgrade trucks again. Thank you again for the work put into the truck and body.
Rob Mclean Mine Maintenance Foreman
The flatbed has been very well received across the MEM department. As expected it was delivered in a clean and ready-to-go condition as promised and all facets of the truck have been put to good use. Overall everyone is impressed with the truck and having it on-site has allowed for work to flow a lot smoother.
Steven Nixon Field Supervisor
Happy to getting Plantman involved in Future opportunity.
Eugenio Martinelli Mine Services Utility Superintendent