If you run a transport company then you will know that the fundamental of your business is your fleet. Therefore, the last thing you want is to be a truck down when business is scaling up. You have to be able to fulfil those orders and make deliveries, and you don’t want to be caught out without the vehicles to take your business to new heights!

With this in mind, here are a few reasons why using a broker to purchase your new truck (or fleet) is perfect for your business:

1. It’s time-efficient

Let’s face it: you’re already incredibly busy running your enterprise. Therefore, the last thing you want is to take on the new endeavour of seeking a loan. The best truck finance brokers can do all the heavy lifting for you, speaking with lenders and helping you secure your loan whilst you focus on your business’s daily operations.

2. It’s cost-efficient

As there are so many lending products available in equipment finance, you might miss out on a good deal if you are unable to devote your time to securing a loan. The right team will have a network of loan options that can ensure you get the best deal for your financing.

Having this network is a great advantage as the banks often don’t provide very good financing options. As such, you will have access to a whole network of different loan options, thus potentially finding you an outstanding deal for your loan!

3. Takes out the guesswork

You have many options at your disposal, but how do you know that you’ve chosen the perfect one for your needs? Having a reputable brokerage team in your corner can ensure your peace of mind for this important financial investment.

They have the skills, experience and network to surpass the gatekeepers and secure you a fantastic loan without you worrying whether it was right for your needs or not. They can help you secure the best interest rates and payment options, thus providing you with a deal that could be absolutely perfect for your business needs.

4. They can see all the finer details

If you aren’t too experienced with securing equipment loans, you may be at risk of making a mistake regarding your financing. Conversely, a trained broker can see all the details and assess whether it will still be right for you.

Hidden fees, penalties and other hidden elements are a broker’s specialty: they won’t let these things slide just so the lender can squeeze more out of your repayment plan - it’s their job to get you the best deal!

5. It can help with your credit history

When you inquire about loans with different lenders it appears on your credit report. Unfortunately, the more inquiries you make, the more it can have an adverse impact on your credit score. The best truck finance brokers have access to specific software that allows them to create multiple inquiries on your behalf but under the one credit check.

They can also assess who will be more likely to approve your financing based on your borrowing power. This limits the risk of being rejected as this can also negatively affect your credit report.

6. It makes you more credible

Having a pre-approved loan certificate makes you more credible, allowing you to be treated as a serious business owner who is there to make a deal. As such, this can help you with the buying process, providing greater leverage when you are looking to make that all-important investment!