Ute Finance for Tradies | HiLux, Ranger & D-MAX Finance Options

Why Tradies Use Chattel Mortgages

For most tradies (sole traders, partnerships, and small companies), a chattel mortgage is the go-to finance structure for a work ute. Here's why:

Own the ute from day one — customise it with toolboxes, roof racks, bull bars
Claim the full GST credit upfront — on a $66,000 (inc. GST) HiLux, that's a $6,000 credit in your next BAS
Deduct interest and depreciation — or use the instant asset write-off if eligible
No balloon required — pay it off fully over 3–5 years with no lump sum at the end

Popular Work Utes & Indicative Pricing

Model	Drive-Away (approx.)	Est. Monthly (5yr, 7%)
Toyota HiLux SR5 4x4	$62,000–$68,000	$1,230–$1,347
Ford Ranger XLT 4x4	$60,000–$66,000	$1,188–$1,307
Isuzu D-MAX X-Terrain	$58,000–$64,000	$1,149–$1,267
Mitsubishi Triton GLS	$48,000–$54,000	$950–$1,069

Estimates only. Actual prices, rates, and repayments will vary. Use our calculator with your specific numbers.

Tax Deductions for Tradies

Business Use Percentage

If your ute is used partly for personal purposes, you can only claim the business-use percentage. Keep a logbook for at least 12 continuous weeks to establish your business-use percentage with the ATO.

What You Can Claim

Interest on the chattel mortgage (business % only)
Depreciation or instant asset write-off (business % only)
Running costs — fuel, insurance, registration, maintenance (business % only)
GST credits on the purchase price (business % only)

Car Limit

The ATO sets a car limit for depreciation purposes on passenger vehicles. However, many utes designed to carry more than 1 tonne (like the HiLux and Ranger) are classified as "other vehicles" and are not subject to the car limit. Check with your accountant if your specific model qualifies.

Chattel Mortgage vs Finance Lease for Tradies

	Chattel Mortgage	Finance Lease
Ownership	You own the ute	Financier owns it
GST credit	Upfront (full amount)	Progressive (each payment)
Customisation	Full freedom — toolboxes, racks, etc.	May need lessor approval
Balloon required?	No (optional)	Yes (ATO minimum)
Best for	Most tradies / sole traders	Tradies upgrading every 3–4 years

Frequently Asked Questions

Yes. Most lenders allow you to finance factory-fitted and dealer-fitted accessories as part of the total purchase price. Aftermarket accessories added later may need separate financing.

Absolutely. Sole traders are the most common applicants for ute finance. You'll typically need your ABN (active 12+ months), personal tax returns, and a clean credit history.

New utes offer lower interest rates and full warranty, but depreciate faster. Used utes (1–3 years old) offer better value but slightly higher rates. Both can be financed via chattel mortgage.

Estimate Your Ute Finance Repayments

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