We’ve been looking at our content as of late and want to know what kind of stuff you prefer! We will always continue our core focus of bringing you financial information, especially tips and advice. However, we want to develop a section to bring that up to date financial content we spoke about previously!

Our thinking is if we are to continue our growth we must develop an in-depth blog that covers a range of topics – which we have achieved – but also implement more than what we’ve got. This can be done by grabbing daily global financial content and presenting it to you in our own individual way.

Nevertheless, we’ve decided this is our next step to take!

We’d love to hear what you think about our current content, current/future plans and possibly leave some suggestions for us to consider!


Financing Your Truck With Bad Credit

The first thing that comes into play when purchasing a vehicle is the financial side of things. This is no different when it comes to a truck purchase and this is done through financing. However, you need to have a decent credit score/rating presuming you may need a loan to pay off the truck.

The person trying to obtain the loan will need to show proof of their borrowing history. This is to ensure they are a credible enough candidate to be eligible. It’s just the basics. You’re not going to go to anyone and ask to borrow their money without providing a reason why they should do it and it is the same with a bank/lender. So, as long as the individual gives proof of borrowing history, then there is a platform to build on.

Then to ensure they are in the right position to receive the financing for their truck, they will need to show proof of identity. Things such as a driver’s licence, tax returns and maybe phone bills will be documents that could be required to provide further proof.

We should point out that it is possible to finance your favourite truck even if you have a relatively poor/bad credit rating but you need to go to a creditor that offers these types of loans. A deal-breaker in this situation will be the age of the truck. If it is 5 or more years old, the loan will no longer be a possibility.

And lastly, given the payments required, you need to go to the right creditor. Not everyone will be perfect, but if they give you a decent offer in terms of your repayment period, then it is worth looking into! Most repayment periods for a truck loan will be between 9 months and 4 years and the exact amount of the truck will be given.

Therefore, you just need to understand the restrictions and limitations to securing a loan with bad credit. You can definitely make it work, but it’d certainly be easier to have a good credit rating!


Purchasing A Used Truck

Any vehicle purchase could see you being ripped off. It is the sad reality.

We have touched on some basics for deciding whether you want a new or used truck, but now we will look solely at what you need to be aware of when buying a used truck.

You want to get the best deal whether it be price, comfort, features or low kms etc. At the same time you definitely need to consider the risk associated.

The starting point for every person when it comes to a transaction is price. Sometimes you can be swayed by the shine and glitter of a new product or maybe you just have loyalty to a particular brand or make. But price still remains the ultimate consideration for understandable reasons.

Often, you can get an estimated value of the truck you have decided on. Doing this will determine if the person or dealer is trying to oversell the vehicle to you or not. If they are, provide proof of the estimation. It is like anything in life where you may need to price-match to get the deal you are after and ultimately deserve.

Also consider the overall look of the vehicle. Chances are, if the vehicle has low miles/kms, you will be getting plenty of use out of it! Don’t be afraid to look hard for what you like because you might be stuck with it for a while. Comfort, features and reliability are things you should focus on, but if a truck stands out to you and you can afford it then trust your instinct.

Then make sure you understand the end process – documentation, paperwork and negotiation. Ensure you provide relevant and up-to-date information in your application so dealers are given the complete picture but don’t forget to negotiate before you establish a final price. Squeeze them for everything they’ve got because they’ll definitely be doing the same to you!


New Vs Used Truck

We’d like to give you all of the necessary information needed to determine whether you want to purchase a new or used truck and include the financial precautions you may need to take!

Make a list of what you might need out of your truck.

What will suit you? What will be comfortable? What will give you the most efficiency when travelling from A to B? What about the price? It’s a big decision and not one that should really be taken lightly.

As mentioned, comfort and style are clearly important but it’s also key for you to consider family, relationships, friends, personal use. All of these considerations need to be made. There’s plenty to weigh up.

Simply research both new and used trucks and try to narrow them down to a reasonable number. Personally, I would look at no more than 10 vehicles in more detail or you’ll be spending too much time agonising over your decision!

Whatever the number of trucks you’ve found is, lower that to below 10. If you’ve found 10 or less, then beginning researching in much more detail. Visit the specific dealerships/places that hold the truck. Talk to people, immediate family and friends or just people you know that have had experience using the vehicles. Online reviews can also be a good asset to helping you make a prompt decision (presuming you need to do so) but don’t completely rely on them – look to use them as a guide because it is your choice at the end of the day.

Let’s look at used trucks first. They can be very affordable solutions but while you can find a used truck that looks and feels new, it is often easy to tell when something has been used or not. But at the same time, don’t let that deter you from making the purchase or at least making the consideration. Look online, at yards, or ask close friends if they have or know of anyone selling a used vehicle.

Alternatively, new trucks are almost always going to be more costlier than used vehicles. It’s basic stuff. If something’s newer, then obviously you will spend more for that item. But that doesn’t always make it better. New trucks will typically give you an array of new features and comfort but are they always going to work in your budget? Do they suit your needs? By all means, go for it if they do. Just be sure a used alternative isn’t one that actually could work for you.

Weigh all of these factors up. If you can afford something in the high-priced range then don’t hold back, but be sure this is the case. However, getting the latest model isn’t always essential and used trucks are therefore a very effective method that should be considered. They can often do the same things at a lower cost.

In summary just be cautious in your approach and don’t settle for a vehicle that may give you headaches down the line!

Used or New? It depends on your personal situation, but we hope we’ve provided enough financial information and guidance for you to make an informed decision either way!



Understanding The Process Of Financing Your Truck

In order to get your vehicle financed, you need to consider process and the documentation you may need.

Understanding how financing works in this situation will be the best way for you to start. Truck dealers want to finalise the sale and provide the necessary invoices and documentation to push it through. This is why they’ll initially ask you to sign an offer to purchase a vehicle.

You’ll be able to find the vehicle’s details on the invoice following the purchase and the dealer will most likely send the order to purchase to the company who finances your truck. The next step will involve the credit agreement ie. weekly and monthly repayments etc.

Essentially, the process will run smoothly so long as you provide accurate information in your application. Ensure you provide a truck license, proof of your salary, your ID and some form of phone bill.

Each of these things will provide the dealer with enough personal evidence to confirm the transaction of the heavy vehicle. An authority to release form will be given and you will need to sign the document to ensure the financier can pay the dealer.

These are just some of the basics you’ll need to understand when purchasing a truck.