Every business requires a vehicle in the literal and abstract sense. While ideas carry your business through time, trucks carry a part of physical business assets to ensure your brand stays on the right track in its journey.
Whether relocation or transfer, a truck is a vital asset for almost any business in the world. A large HGV truck can do a lot for your brand. It remarkably makes business operations faster by turning equipment management productive. Trucks also allow a brand partial security of assets from threats or damages.
Such facilities won’t always come for free. You will either need to own a truck or get one in rent. To do that, you definitely have to finance it.
So, it is better if we stick to this post and learn a little about truck finance.
What Is HGV Truck Finance?
We need to learn about the HGV trucks first.
In the plain sense, HGVs are trucks built for heavy work. Hence, the acronym HGV stands for Heavy Duty Vehicle Trucks. Pick-up trucks and vans come under this category.
With that being said, it is easy to understand that financing an HGV truck is the way to finance a vehicle for business needs.
But the amounts involved here are significant. These pick-up trucks are quite expensive. It is because of their hauling and storage capacity. This is where we need to be serious about financing it.
An HGV truck finance is taking out loans (or taking the help of a particular lending service) for owning or renting your truck. You can call it a plan under asset finances.
The good news is there are many ways you can finance an HGV. For that, you may need to speak with professionals such as finance brokers or loan officers. They can easily aid you with the deal you want because they use a whole-of-market approach to find the right lender. Speaking of finance brokers, we are such an organisation with these professionals who can help you in a surprisingly customised way.
Why Do You Need an HGV Truck for Your Business?
There is more than one reason you may use a pick-up truck. This post has a very short expanse to tell you all about these purposes. But we can still name a few for you.
- You may require a truck because you are starting a new business, and a truck will surely help you with your agenda.
- Some businesses operate on heavy assets and products. They need to transfer them every now and then from the factory to the offices and then to the retailers. A pick-up truck becomes a highly-efficient vehicle to help the brands in this case.
- You can look for an HGV because your already existing trucks are old and cannot meet the standards of the work requirements.
- In many instances, we have seen businesses in the UK finance another extra truck to keep it as an additional option or as a backup.
You see these requirements are varied. However, what they have in common is they all are simply ‘unavoidable’. Now that you know about it at the primary level, it is time we learn how to get it quickly.
How to Get Truck Finance Without Many Hassles
Although we, as finance brokers, can help you with the process efficiently, we will always insist you think more than once about what kind of truck you want to own and your current budget that puts you in your comfort zone.
If you want to make financing one of these vehicles, then do so correctly so that your needs are met and your finances are saved.
We will definitely help you out when you have reached a point of clarity regarding your truck purchase or leasing.
Now we can focus on the ways to get your truck financing quickly:
- Understand Your Budget. To learn about the correct estimate, you can bear for your pick-up truck financing, find out the financial conditions of other departments such as cash flow; savings; sales; revenue and investments, to identify a quote you can use to own/ rent your truck. After all, you don’t want to pay extra or an unreasonable amount that will disrupt those departments, do you?
- Explore Your Real HGV Needs. As mentioned earlier, some brands may simply choose financing trucks because they need new vehicles. Others might need to own an extra pick-up truck to earn additional support simply. While these are very common reasons, we have also served clients who took out money from lenders for maintenance purposes. Sometimes, these projects also come in large amounts.
- Choose a plan. You can find different and interesting truck financing options from finance brokers. These options are known as Contract Purchase; Truck Leasing; Finance Lease; Operating Lease, and Contract Hire. Learn about each of these plans and select a suitable one.
- Send a query first to apply for the loan. HGV truck financing involves a lot of money and is a considerably valuable asset. First, gather your business documents, credit report, and the particular HGV statement to send a query to your finance broker. Lenders approve this, and they send you back a loan quote via the broker. Check it thoroughly to understand if you can pay for it. If you agree with the loan quote, you may apply for the money. After lenders are done verifying your business documents, you are going to receive the money.
Why Asset Finance Brokers?
A business would choose one of the Asset finance brokers in the UK for many reasons. And they all are crystal clear to understand.
What if the loan quote from a lender doesn’t suit your budget? In that case, you will naturally search for a better deal.
This is what we, as brokers, do. We present you with a panel of lenders with different loan quotes so that you can get more than one choice. It will help you make a decision flexibly.
Apart from this, our organised application methods, the whole-of-market approach we use, the vast network of lenders, etc., will make your truck finance the most effective.
You will be happy to find the benefits of our services.
When are we working together then?
Harry Kane is a financial writer and author who has covered wide topics related to business loans and finance for the last decade. He has been working as the Chief Contributor in finding out deals on various business finance products covered by Thebusinessfunds, a reputed business loan broker firm in the UK. The primary work of Harry is to analyse the loan requirements of various businesses according to their circumstances and affordability. He directly communicates with the loan aspirants and guides them to get the right loan matching their needs. He has a vast experience in finance writing, working with many major business firms in the UK. At Thebusinessfunds, Harry also used to write well-researched blogs covering the financial problems of business loan aspirants and providing relevant solutions. He is a postgraduate with MSc. in Banking and Finance.