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At UD Trucks Financial Services, a Division of WesBank which is a division of FirstRand Bank Ltd – we want to help you make an informed decision on the finance of your UD Trucks Vehicle.

We have summarised our product overview below for your convenience:

Instalment Sale Agreement

  • Ownership in the goods passes to the buyer when the last payment is made
  • The buyer gets the benefit of any resale value
  • Depreciation and finance charges can be income tax deductible (depending on the type of legal entity)

Financial Lease

  • The Customer has the option (not automatically) to take ownership of the goods when the last payment is made
  • The structure (including deposits, balloons and stepped payments plans) can be arranged to suit the customer’s needs
  • Monthly rentals (instalments) are tax deductible

Operating Rental Agreement

  • Off balance sheet funding solution for companies
  • The structure can be arranged to suit the customer’s needs
  • Monthly rentals are tax deductible

Sale and Leaseback

  • Unencumbered assets can be used to boost cash flow
  • Creates opportunity to match funds to value of the asset

Full Maintenance Rentals

  • Off balance sheet funding solution for companies
  • Input VAT on maintenance and Commercial Vehicles is recoverable in full
  • Provides your business with accurate cash flow forecasting in view of fixed monthly rental

Geared Finance Agreements

  • Endowment based funding product
  • Larger (constant) Tax benefits
  • Opportunity for Capital growth
  • Substantial interest saving
  • Creation of a minimum Tax Shelter at Maturity

First Auto

  • Offers customers consolidated information of each transaction on their Autocard
  • Comprehensive reporting at month-end
  • Consultants highlight exceptions, trends and generally assist customers to make better fleet management decisions

Insurance Products

A range of Insurance Products are also available from UD Trucks, covering a wide range of potential risk areas for any fleet owner.

a. Commercial Cover Plus Shortfall
Covers shortfall between settlement andstandard insurance payout

b. Deposit Protector
Pays back deposits paid on the finance agreements in event of loss of asset

c. Loss of Use – Downtime
Pays out benefits where the policyholder is unable to use the asset, causing a loss income

d. Health Credit Policy
Provides death and lump sum permanent disability benefits equal to the outstanding value of a UD Trucks Financial Services Credit Agreement

e. Comprehensive Insurance
For all your personal and commercial/portfolio needs at very competitive premiums