Improve your fleet and save money with a truck and equipment loan
Australia has a proud trucking and transport heritage, but it can get expensive to keep fleets up to a modern standard. Despite the costs associated with these investments, there are a number of benefits for businesses that purchase new equipment.
The average age of vehicles in Australia is just over 10 years.
In these cases, trucking and equipment loans ensure businesses have access to the finance solutions they need to maintain their fleets. The advantages to these upgrades don’t just concern business owners, but the rest of the country as well.
The Australian Bureau of Statistics found the average age of vehicles in Australia is just over 10 years old. For articulated trucks, this figure is on the rise.
With the range of safety and efficiency improvements promised by new vehicles, it’s important the country’s fleet is as new as possible – a feat that is difficult to achieve without finance.
Transport industry supports small business development
Of course, established businesses aren’t the only ones that can benefit from truck and equipment finance. In fact, research from IBISWorld states the transport industry is a supportive one for the nation’s small businesses, suggesting there’s plenty of opportunity for new companies to make their mark.
According to IBISWorld, the transport industry is characterised by a low barrier to entry, with the firm stating that a truck is often all a new business needs to start growing its influence.
If that wasn’t enough encouragement, IBISWorld is also forecasting further revenue growth for the country’s transport business, a figure that is likely to grow by 2.5 per cent between 2015 and 2020.
What can established businesses gain from vehicle finance?
Whether it’s a new car loan or truck and equipment finance, businesses have a range of options to ensure they are prepared for the challenges their respective industry throws at them. For those in the transport sector, two of the main concerns are safety and efficiency, an area where newer vehicles have a notable advantage.
While car safety often gets a fair amount of media coverage, there’s generally less attention devoted to the equivalent systems in modern trucks. Swedish manufacturer Volvo has brought its commitment to safety from its car division over to its trucking engineers, unveiling the way new vehicles will keep drivers and other motorists safe on the roads.
The technology Volvo has debuted in recent years includes Lane Departure warnings to keep vehicles on track, and Volvo Enhanced Stability Technology to help drivers stay in control no matter the conditions.
To find out how your business can grow with truck and equipment finance, contact the team at AAA Finance.