In a positive prelude to the Reserve Bank of Australia’s decision this week to cut interest rates to a historic low of just two percent, Cat® Trucks announced on May 1 that it would cap interest on new truck purchases to just 3.99 percent for the remainder of the financial year.
“With the full backing of our partner Navistar Financial, the decision to cut our interest rate on purchases of new Cat trucks was made as part of an ongoing industry stimulus initiative,” said Glen Sharman, Director of Sales, Marketing and Business Development at Cat Trucks distributor, Navistar Auspac.
“Road transport is a tough business in every respect and the capping of our interest rate to 3.99 percent from May 1 to the end of the financial year is an unquestionable bonus for buyers of new Cat trucks.
“But in the bigger picture it’s also an incentive which is entirely in sync with expectations that the Federal Government’s upcoming Budget will be heavily focussed on stimulating business and building consumer confidence.
“We are confident that no other truck brand has a better interest rate on new trucks than the 3.99 percent we are now offering.”
The Reserve Bank’s latest rate cut – the 10th in succession and likely to be the last in the current economic cycle according to most financial analysts – is aimed squarely at stimulating business development and encouraging enterprises which create jobs and drive innovation.
Scheduled to present the Abbott Government’s second Budget on Tuesday, May 12, Treasurer Joe Hockey welcomed the Reserve Bank’s rate cut, encouraging small businesses and consumers to take advantage of the low interest rates now on offer.
“Whether you are a household or a small business, now is the time to have a go, to borrow some money and invest,” he declared.
Further details on Cat Trucks’ attractive financial incentive is available from all Cat Trucks dealers or by visiting the website at www.cattrucks.com.au/cattrucks.
“Or of course, anyone visiting the Cat Trucks stand at the Brisbane Truck Show next week can also come and talk to us about this exceptionally low interest rate. Believe me, there will be plenty to see and talk about,” Glen Sharman concluded.