A lot of people dream of having businesses of their own. While they may be capable of getting it started little by little, some might need a little help. That being said, you can’t handle a business without the right tools and equipment. You need to be sure you are equipped with everything you need to keep your venture running. That’s why new business owners apply for vehicle loan financing for their new trade. This way, they get their dreams started and reap the rewards in the future. At DMC Capital Finance, we’ll help you make your dream come true.
Your Trusted Financial Experts
In business, having the latest and most trusted technology for your equipment can give you a boost against your competitors. You can provide your clients with top quality service and products. You also need equipment that is in perfect condition.
What do you do with a broken oven? You throw it out and get another one. But buying new equipment will cost you a lot of money. You need someone who can help you shoulder these expenses. The best people to reach out to is DMC Capital Finance. We’ve got financial experts that will help you pick the best loan for you.
What is Equipment and Vehicle Loan Financing
Being a small business owner, buying complete and top-quality equipment can cause quite a dent on your profit and cash flow. That is why it’s a great idea to apply for an equipment loan. This type of loan is used to help you purchase the things you need for your business. A lot of the time, this is used by business owners to get a vehicle they can use to make deliveries and get daily inventory. Vehicle and equipment finance softens the blow your cash flow will take when getting your needed equipment. The main rule for this is that the equipment must be used to gain income. Just like a mortgage broker in Melbourne, DMC Capital Finance can lend you a helping hand.
Rates and Terms
Just like any loan, there are also certain factors you need to prepare for when applying for a business vehicle finance. First, you need to make sure the value of the vehicle is close to the loan amount granted to you. The usual loan amount goes from 5,000 to 250,000 dollars.
If you’re lucky, the loan-to-value ratio can reach up to a hundred percent. This means you won’t have to get a small percentage from your own wallet. Interest rates can range from 1.74% to 18.00%. Not to worry, the loan term usually reaches up to a hundred and twenty months. If you are ready for these things, then you’re set for a loan.
Requirements
To apply for a business vehicle or Commercial Auto Loan, there are some documents and other requirements you need to present. Here are some of them:
Basics
This means you need to have records of the amount for the downpayment, your chosen vehicle, and the cost of purchasing the vehicle.
Business Documents
This could mean things like business licenses, partnership agreements, and other business-related papers.
Others
You might also need things like tax returns, bank statements, etc.
Contact our brokers now to know more of what you need for your loan.
Everyone wants to see you succeed. And there are people who are willing to give you the help you deserve. For your vehicle loan financing, reach out to the guys at DMC Capital Finances.