Truck Finance Guide | Rates, Structures & Tips for Australian Operators

Truck Finance at a Glance

$50K–$500K+

Finance range

2–7 yrs

Typical terms

5.5%–9%

Indicative rates

Which Finance Structure for Trucks?

Most owner-operators and fleet operators use one of three structures:

Structure	Best For	Key Benefit
Chattel Mortgage	Owner-operators, GST-registered businesses	Own the truck, claim GST upfront, depreciate
Finance Lease	Fleets upgrading regularly	Lower payments, simple tax deduction
Operating Lease	Large fleets wanting all-inclusive costs	Off-balance sheet, maintenance included

For most owner-operators buying a single truck, a chattel mortgage is the most popular choice — immediate ownership, upfront GST credit, and access to the instant asset write-off.

Types of Trucks We Cover

Rigid trucks — light, medium, and heavy rigid for local and metro deliveries
Prime movers — for interstate and long-haul operations ($200K–$500K+)
Tippers & tip trucks — construction and earthworks ($80K–$250K)
Refrigerated trucks — cold chain logistics ($100K–$300K)
Tray trucks & flat beds — tradies and general cartage ($50K–$150K)

New vs Used Truck Finance

Both new and used trucks can be financed, but there are key differences:

	New Truck	Used Truck
Interest rates	Lower (5.5%–7.5%)	Higher (6.5%–9%+)
Age limits	N/A	Typically <12 yrs at end of term
Depreciation	Higher initial depreciation	Lower ongoing depreciation
Deposit	0–10% (strong applicants)	10–20% typical

Tips for Approval

Have your financials ready — last 2 years of tax returns and financial statements
Clean credit history — check your credit report before applying
Demonstrate revenue — show existing contracts or revenue history
Offer a deposit — even 10% signals commitment to lenders
Use a specialist broker — truck finance brokers know which lenders suit your situation

Need more detail? Read How to Get Approved for Asset Finance →

Frequently Asked Questions

Yes, but options may be limited. Some lenders offer low-doc or start-up truck finance with higher deposits (20–30%) or personal guarantees. A specialist broker can find the right lender for your situation.

Standard applications: 24–48 hours. Complex or start-up applications: 3–7 business days. Having documents ready upfront speeds up the process significantly.

Yes. Most lenders will finance the truck and trailer as a package on a single loan. This often results in better terms than financing separately.

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Truck Finance: The Complete Guide