Side-by-Side Comparison
Published rate bands have been withdrawn pending verification against current lender pricing. Request a personalised quote for the asset, applicant and chosen structure; compare the rate, fees, term, balloon or residual, and total amount payable. The RBA cash rate is funding context, not a retail finance rate.
| Factor | New Truck | Used Truck |
|---|---|---|
| Interest rate | Personalised quote | Personalised quote |
| Deposit required | 0–10% | 10–20% |
| Max loan term | 5–7 years | 5 years (age-dependent) |
| Age limit | N/A | Typically <12–15 yrs at end of term |
| Warranty | Full manufacturer warranty | Varies — may have none |
| Depreciation (Year 1) | Higher — new trucks depreciate fastest | Lower — bulk of depreciation already occurred |
| Instant write-off | Eligible (if criteria met) | Eligible (if criteria met) |
| Resale value risk | Higher (more to lose) | Lower (already depreciated) |
When New Makes Sense
- You need the latest emission standards (Euro 6) for compliance
- Full warranty coverage reduces the risk of unexpected repair costs
- Lower interest rates make the total cost competitive despite higher purchase price
- Technology features (telematics, ADAS, fuel efficiency improvements) deliver operational savings
- You plan to keep the truck 7+ years and want maximum useful life
When Used Makes Sense
- Budget is tight — a 3-year-old truck can cost 30–40% less than new
- You're starting out and need lower monthly repayments
- The truck will be used for local or metro work (lower km, less wear)
- You're an experienced operator who can assess mechanical condition
- You plan to own for 3–4 years then upgrade
Cost Comparison Example
| Comparison | New Rigid ($180K) | Used 3yr ($120K) |
|---|---|---|
| Deposit (10%) | $18,000 | $12,000 |
| Financed amount | $162,000 | $108,000 |
| Rate | 6.5% | 7.5% |
| Term | 5 years | 5 years |
| Monthly payment | $3,170 | $2,164 |
| Total interest | $28,183 | $21,846 |
| Total cost (deposit + payments) | $208,183 | $141,846 |
Hypothetical fixed-rate example with monthly payments in arrears, no fees and no balloon. Totals use unrounded repayments. Use our calculator with your specific numbers.
Tips for Buying Used
- Check service history — complete records indicate a well-maintained truck
- Get an independent inspection — $300–$500 can save you thousands on hidden issues
- Verify odometer and hours — check for consistency with service records
- Check for finance encumbrances — use a PPSR search to ensure the truck isn't still under finance
- Factor in reconditioning — tyres, brakes, and fluids may need immediate attention
Frequently Asked Questions
Not necessarily. A higher rate on a lower purchase price can still mean lower total cost. In the example above, the used truck costs $66,337 less in total despite a 1% higher rate. Always compare total cost, not just the rate.
Yes. The instant asset write-off applies to both new and used assets, provided you meet the eligibility criteria and use a chattel mortgage (you must own the asset).
Compare New vs Used Costs
Enter both price points in our calculator to see the real cost difference.
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