How ARG’s Rent To Buy solution helped Richard get back on track after a challenging financial period

Background

Richard had been driving trucks interstate for over three decades, a job that took a toll on his time, mental health, and energy. Following a challenging period marked by a relationship breakdown and unemployment, Richard was determined to find a local job that would allow him to work closer to home.

When he secured a local courier contract he was excited. However, he also faced the enormous hurdle of needing a van to fulfil his contract but not having the financial means to buy one outright.

He initially looked to traditional lenders for support, but was met with repeated rejections. His financial situation at the time – unemployment, Centrelink payments, no home ownership, and new business status – made him ineligible for conventional loans.

Traditional financing challenges vs ARG’s tailored solution

Richard first turned to traditional lenders in the hopes of securing a loan to buy the van he needed to fulfil his courier contract. However, this approach quickly proved to be fraught with obstacles as the lenders’ stringent requirements around past financial stability created a seemingly insurmountable barrier for Richard.

What made the matter worse, was that despite having his courier contract signed, lenders were unsympathetic to his situation, which created a frustrating and stressful loop where he couldn’t secure a van without income and couldn’t generate income without a van.

When Richard’s broker introduced him to ARG’s Rent To Buy solution he welcomed the refreshing alternative with open arms. Unlike traditional lenders, ARG places great focus on clients’ forward income potential, rather than past financial difficulties. This approach was particularly important to Richard, as ARG was able to assess his courier contract and recognise the potential for his future earnings.

ARG also took the time to understand Richard’s personal story and the challenges he had faced, offering a level of empathy and support that simply does not exist with traditional lenders. Sticking to their philosophy of “We give you a go when the big end of town says no”, ARG went out of their way to help Richard get back on his feet by holding his hand through administrative tasks, like GST registration, and keeping him in the loop every step of the way.

“Thanks to ARG I went from being very stressed out financially to securing a steady income with my courier contract. The team at ARG saved the day when others left me stranded. They understood that the signed contract I had with the courier company meant I was going to make the money, even though my past didn’t look good on paper. They gave me a chance when no one else would. Now, I’m back on my feet and looking forward to a brighter future, all thanks to ARG.”

 – Richard

The impact of ARG’s Rent To Buy solution on Richard’s business and life

ARG’s Rent To Buy solution had a transformative impact on Richard’s ability to work and his overall well-being. Securing the van he needed through ARG enabled him to fulfil his courier contract, which was the first step to getting back on the road and rebuilding his financial stability after a challenging period.

By ARG acquiring the specific 2-ton van he was after, Richard was able to take on the most lucrative routes offered by the courier company. This vehicle was essential for him to meet the specific demands of those routes, which required the capacity and reliability of a larger van.

As a result, Richard’s income increased, providing a much-needed boost to his financial situation. The ability to take on these higher-paying jobs not only improved his earnings but also enhanced his reputation with the courier company, paving the way for future contracts and opportunities.