An established broker contact introduced a transaction to us for the re-financing of balloon payments on a number of heavy commercial vehicles. The payments had become due on 9 Tractor units via the manufacturer’s in house funder, who were not willing to accommodate a further extension of the hire period.
The company was a well-established truck rental business and the rate and term needed to be competitive to match the hirer’s end user contract.
To achieve this we managed to structure a transaction with a low deposit and 36 month term and timed to coincide exactly on the day the balloon payments were due so as not to incur any interest penalties for the customer.
Loan amount: £216,000