Truck Finance Australia
Keep your business moving. From light commercials to prime movers, we compare eligible options from 50+ banks and lenders and explain how each structure works.
Australian Credit Licence 509582. Lender fees may apply. Lender criteria apply.
Trucks We Finance
Prime Movers
Kenworth, Mack, Volvo, Scania and more
Rigid Trucks
Tray, tipper, curtainsider, refrigerated
Light Commercial
Vans, utes, small trucks under 4.5T
Specialty Vehicles
Tankers, cranes, concrete mixers
Can I get finance for a truck in Australia?
Yes, you can apply. Lenders on our panel finance light commercials, rigid trucks and prime movers for ABN holders and companies, often as a chattel mortgage. They look at your business history, the truck and its age, and your deposit. Approval, rate and amount depend on the lender's assessment.
No upfront assessment fee. Lender fees may apply, and we may receive commission from a lender if your loan settles. Comparison rates may vary.
Truck Finance Options Compared
Compare the common finance structures for a trucking business. Ask your accountant about tax treatment.
| Feature | Chattel Mortgage | Finance Lease | Operating Lease |
|---|---|---|---|
| Ownership | From day one | At end of term | Never (rental) |
| GST Claim | Upfront | On each payment | On each payment |
| Balloon Option | Yes | Yes (residual) | N/A |
| May suit | Owner operators | Fleet operators | Short term needs |
| Typical Term | Often 3 to 7 years | Often 2 to 5 years | Often 1 to 3 years |
Truck Finance FAQs
What types of trucks can I finance?
We finance all truck types including light commercial vehicles, rigid trucks, prime movers, tipper trucks, refrigerated trucks, tray trucks, and specialty vehicles. Both new and used trucks may be considered, and lenders set their own age limits for used trucks.
Should I use a chattel mortgage or a consumer loan for a truck?
If the truck is used mainly for business, a chattel mortgage is the common structure for an ABN holder. A consumer loan suits private use. Which one applies depends on how the truck is used, and your accountant can advise on tax treatment.
Do I need a deposit for truck finance?
Not always. Some lenders may finance up to the full value of the truck, and others ask for a deposit, especially for older trucks or newer businesses. It depends on the lender's assessment.
Can I get truck finance with bad credit?
Some specialist lenders on our panel may consider applicants with past credit issues, with a higher rate or a larger deposit. See our bad credit self employed page for how lenders read ABN income and defaults.
What are current truck finance interest rates?
Truck finance rates vary by lender, business history, credit profile, truck age and type, and deposit. Prime movers and newer trucks are often priced differently because of resale value. A specialist confirms your actual rate after assessment. Not all applicants are approved.
Can I finance a truck for my new business?
Yes, we have lenders who specialise in financing trucks for new businesses. A lender may ask for a larger deposit and evidence of industry experience, and the length of time your ABN has been registered matters to some lenders more than others. Approval depends on the lender's assessment.
What's the maximum term for truck finance?
Terms vary by lender, the age of the truck and the structure. Longer terms mean lower repayments but more interest paid overall, so it helps to match the term to the working life of the truck.
Is balloon payment available for truck finance?
Balloon or residual payments are available from some lenders, especially on chattel mortgages. A balloon lowers regular repayments but leaves a lump sum due at the end, and you pay interest on it for the whole term. Ask your accountant how the structure suits your business.