Truck Finance Australia

How Truck Finance Works in Australia

Whether you're an owner-driver buying your first prime mover or a fleet operator expanding your heavy vehicle line-up, asset finance lets you spread the cost over 3–7 years while generating revenue from Day 1.

Rather than tying up working capital in a depreciating asset, truck finance allows you to preserve cash flow for fuel, maintenance, and hiring. Most lenders will finance up to 100% of the purchase price for ABN holders with a strong credit profile.

Types of Trucks We Cover

• Prime movers and B-doubles (Kenworth, Volvo, Scania, Western Star, DAF, Freightliner)
• Rigid trucks — tippers, tautliners, pantech, refrigerated, crane trucks
• Light commercial — Isuzu, Hino, Fuso, UD
• Drop-deck, flat-top, and curtainsider trailers
• New and used vehicles (up to 15 years old at end of term)

Indicative Truck Finance Rates

Updated March 2026 • Rates are indicative only and subject to lender approval, credit profile, asset age, and loan amount.

*Rates depend on your credit score, time in business, asset age, deposit, and loan term. View our full rates guide →

Indicative Truck Finance Rates

Updated March 2026 • Rates are indicative only and subject to lender approval, credit profile, asset age, and loan amount.

*Rates depend on your credit score, time in business, asset age, deposit, and loan term. View our full rates guide →

Finance Structures Compared

The right structure depends on your GST registration, how you use the asset, and whether you want to own or return it at the end of the term.

Chattel Mortgage

The most popular structure for GST-registered businesses. You own the truck from Day 1, claim the full GST credit on your next BAS, and deduct interest and depreciation. A balloon payment at the end keeps repayments lower during the term.

Finance Lease

The lender owns the asset and leases it to you. Monthly payments are fully tax-deductible as an operating expense. At the end of the term, you pay the residual value to take ownership, re-finance, or hand the asset back.

Operating Lease

Effectively a long-term rental. You never own the truck — you return it at the end. Lowest weekly repayments and 100% tax-deductible payments. Best for operators who upgrade their fleet regularly or want predictable costs without residual risk.

Eligibility Requirements

Lender requirements vary, but most truck finance applications share common benchmarks:

• Australian Business Number (ABN) — active and registered for GST
• ABN trading history of at least 12 months (some lenders accept start-ups with strong security)
• Clear personal credit history — no defaults, judgements, or Part IX agreements
• Proof of income — BAS statements, tax returns, or bank statements for the last 6–12 months
• Valid driver licence appropriate to the vehicle class (HR, HC, MC)

If your situation is more complex — new ABN, adverse credit, or high-value finance — we'll match you with a specialist broker who deals with non-conforming lenders.

Tax Benefits of Truck Finance

Financing a truck rather than paying cash unlocks significant tax advantages that improve your effective cost of ownership:

• Instant Asset Write-Off: For eligible businesses under the $20,000 threshold (or temporary full expensing if available), deduct the business portion of the asset cost in Year 1
• Depreciation: Under a chattel mortgage, claim annual depreciation on the asset's effective life (typically 8 years for heavy vehicles)
• Interest Deductions: All interest paid on a chattel mortgage is tax-deductible as a business expense
• GST Input Credit: If GST-registered, claim the full GST component on the purchase price ($22,727 on a $250K truck)
• Lease Deductions: Under a finance or operating lease, the entire lease payment is deductible

Note: Tax benefits depend on your individual circumstances. Always consult a qualified tax professional.

Truck Finance FAQs

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