Finding the right vehicle at the right price

One of the goals of commercial vehicle finance and insurance is to make it easier for owners or operators to run a successful business. Clients need the best vehicles available at the most affordable prices. We take a look at who’s offering what …

Several original equipment manufacturers have their own in-house financing departments. MAN Financial Services, for example, aims to build long-term and trustworthy relationships with its customers. “We do this by offering customised products that make it possible for companies to plan and calculate the costs of their projects,” says Wanda van Rooyen, business support and insurance manager at MAN Truck & Bus SA.

“MAN Financial Services can offer unique industry and commercial-vehicle expertise. The company guarantees reliable partnerships, personal contact, competitive and fair market prices, customised solutions, transparent and unique processes and short lines of communication with quick decision-making,” she adds.

Scania Financial Services strives to provide flexible financing and insurance solutions, for both new and used vehicles, buses, trailers and ancillary equipment.

Scania Finance and Insurance offers instalments and frequency tailored to clients’ needs, variable interest rates and package solutions – including insurance, repair and maintenance, as well as service contracts.

UD Financial Services also offers a range of products and services as part of its aim to provide a complete and convenient service throughout a vehicle’s lifespan. These vehicle financing products include options such as instalment sales, financial and operating leases, rentals as well as full-maintenance agreements.

Owning and operating trucks, or other heavy-duty commercial vehicles, is an expensive exercise. Increasing costs of diesel alone can force some truck operators out of business. Truck finance specialist, TruckFinancing.co.za, aims to make obtaining truck finance easier, with flexible finance options for owners and operators who may not meet stringent prime lender criteria.

The lenders at TruckFinancing.co.za understand that vehicle owners need to keep overhead costs low. If truck operators don’t have a good credit rating and an established company with long-term customers, finding sources of finance for commercial trucks through conventional lenders can be difficult.

For those who wish to rent a vehicle, rather than buying one, there are also options available. One such offering at the moment is from Tata, in conjunction with Wesbank, in which clients have the option to rent the Tata Novus 7548 6×4 truck tractor. (Turn to page 34 for more details.)

When it comes to commercial vehicle insurance, there are also many options available. Insurance Underwriting Managers (IUM), for example, strive to deliver innovative insurance solutions and services.

Founded in 2004 by certified professionals, IUM began as an administrator in the industry. Since 2010, IUM has grown into a fully-fledged insurance underwriting manager.

IUM offers insurance brokers extensive, comprehensive, cost-effective and tailor-made insurance solutions, allowing clients one point of contact to access a wide range of products.

IUM has an extensive range of commercial insurance products and services. Its core products are underwritten by Guardrisk Insurance Company Limited.

A sluggish economy can be a formidable foe when applying for any type of business finance, or purchasing insurance. So make sure you opt for flexible solutions, which give you predictable costs and manageable risks, for a profitable business at the end of the day.