Truck Finance at a Glance
Which Finance Structure for Trucks?
Most owner-operators and fleet operators use one of three structures:
Published rate bands have been withdrawn pending verification against current lender pricing.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.
| Structure | Best For | Key Benefit |
|---|---|---|
| Chattel Mortgage | Owner-operators, GST-registered businesses | Own the truck, may be able to claim the creditable business-use portion of GST, depreciate |
| Finance Lease | Fleets upgrading regularly | Lower payments, simple tax deduction |
| Operating Lease | Large fleets wanting all-inclusive costs | subject to contract-specific accounting, 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:
| Comparison | New Truck | Used Truck |
|---|---|---|
| Interest rates | Personalised quote | Personalised quote |
| 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 |
Read more: New vs Used Truck Finance — Detailed Comparison →
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 Asset Finance for Startups →
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.
Estimate Your Truck Finance Repayments
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