Hino Financial Services Business Vehicle Loan
Equipment financeSecured
Need a new or used truck for your business? A smarter way to buy your truck is with a Business Vehicle Loan, or chattel mortgage, from Hino Financial Services. Because you own the truck from day one, you can have the security of knowing that it’s a business asset right from the outset. There is also the option to trade in an old vehicle which can reduce the repayments. With our range of tailored finance options, you could get into your Hino sooner.
- Establishment fee
- $395
- Monthly fee
- $8
- Borrow
- From $5,000
Interest rate a year, from
Not published
Loan details
Rates
- Interest rate (a year)
- On application
- Rate type
- Not published
- Security
- Secured
- Type of finance
- Equipment finance
Limits and fees
- Loan amount
- From $5,000
- Loan term
- 1 year to 7 years
- Establishment fee
- $395
- Monthly fee
- $8
How it compares
Against the other secured business loans we compare. Typical means the middle half of them.
Setup fee
$395
A typical setup fee is $549.
Monthly fee
$8
A typical monthly fee is $20.
Longest term
7 years
6 years is the usual longest term.
Pros and cons
Pros
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
Cons
- A $8 monthly fee. That adds $480 over 5 years, as well as the interest.
- Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
- An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
- A $25 late payment fee. Setting up automatic repayments avoids it.