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Truck Loans | Heavy Vehicle Finance

16 Mar Today's
best rate
Finance Equipment From
{{Advertised Rate Only}} %
Fixed
*The Interest Rate is calculated on a Secured Loan for business use, effective 23/03/2023 and subject to change. WARNING: The interest rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.

Compare Truck Loan Types and Finance Products

Selecting the lending product that will work most effectively for your organisation is a critical part of the process. Interest rates and features and benefits vary across the range of loans. Leasing compared with Chattel Mortgage, Rent-to-Own compared with Leasing – do it all right here. This comparison table allows you to see the different rates we are currently achieving and generate rough repayments for each loan type. Just input your loan details to get started.

Loan Amount
Loan Term
New Equipment Loan
2.79% Starts At
$569.75
Monthly repayment
Used Older Secured Equipment Loan
4.50% Starts At
$612.5
Monthly repayment
Business Loans - Unsecured
7.99% Starts At
$699.75
Monthly repayment
Business Loans - Secured
2.95% Starts At
$573.75
Monthly repayment
Overdraft - Non Bank
9.95% Starts At
$748.75
Monthly repayment
Chattel Mortgage
2.79% Starts At
$569.75
Monthly repayment
Operating Leases
4.60% Starts At
$615
Monthly repayment
Commercial Hire Purchase
2.79% Starts At
$569.75
Monthly repayment
Rent To Own
9.95% Starts At
$748.75
Monthly repayment
Loan Product Interest Rate
Starts at:
 Monthly Repayment
New Equipment Loan 2.79%
$569.75
Used Older Secured Equipment Loan 4.50%
$612.5
Business Loans - Unsecured 7.99%
$699.75
Business Loans - Secured 2.95%
$573.75
Overdraft - Non Bank 9.95%
$748.75
Chattel Mortgage 2.79%
$569.75
Operating Leases 4.60%
$615
Commercial Hire Purchase 2.79%
$569.75
Rent To Own 9.95%
$748.75
Get a free quote

Disclaimer: This chart is provided only for the purposes of comparing interest rates on different loan products. The charges and fees as applied by lenders and brokers are not formulated into the auto-calculate function so the results should be used as a guide only. Any offer for a loan that may be made to you may differ in the interest rate charged and the repayments. Using this truck loan comparison is not an application form. The results calculated do not indicate a quote, offer or approval.

Business Truck Loans

Truck owners and operators are under enough pressure dealing with tight deadlines, demanding working conditions on sites across Australia, strong competition for tenders and contracts, rising costs and strict regulatory requirements while trying to find time for family and recreation. The last thing you really want to be doing is spending a lot more time sourcing the cheapest truck loan when buying a new truck.

Our company who specalises in commercial loans, fully understands and appreciates your working environment which is why we’ve particularly focused on truck loan. We’ve brought together arguably the most comprehensive collection of banks, lenders and brokers that offer the cheapest and most competitive loans – right here, in the one finance hub.

  • No time-wasting
  • Save you valuable time
  • Choice of a large number of lenders
  • Direct contact with truck finance brokers
  • Quick access to cheap interest rate loan sources

Complete Truck Loans for Business Services

We’ve covered all aspects of heavy good vehicle loans in bringing together the lenders that have been proven to genuinely deliver real results in cheap interest rates, flexible terms and workable lending that will support your business.

  • All Commercial Lending Types
  • Secured and Unsecured Heavy Vehicle Lending
  • Flexible Terms up to 7 years
  • No Deposit Loan Options
  • Refinancing Options
  • Tailored, Flexible Solutions
  • Personalised Service
  • Fast Approvals, Quick Settlement
  • New and Used Heavy Vehicle Finance
  • All Leading Truck Manufacturers

Commercial Heavy Vehicle Loan Types

Our lenders offer the full range of commercial finance products for truck purchases, including:

  • Rent to Own Truck Loans: A very popular, off-balance sheet truck loan with 100% tax deductible repayments; flexible terms up to 6 years; GST claimed on repayments; lender holds ownership with range of options for purchasing the vehicle at the end of the loan term or upgrading to a new truck.
  • Heavy Vehicle Loans: an off-balance sheet option where the truck is listed on the lender’s balance sheet not the borrower’s balance sheet; tax deductible repayment; flexible terms; residual payable at the end of the loan term.
  • Truck Chattel Mortgage: very popular form of finance; suits cash accounting method; GST on purchase can be claimed on next BAS; interest and charges tax deductible; balloon payment payable at end of the loan term
  • Commercial Hire Purchase: very flexible and workable loan type with balloon, GST claimable at time of purchase, tax deductible elements.

Different loan types offer varying benefits dependent on business structure, accounting method and financial objectives. Discuss what is best for your business with your accountant and then request a list of lenders suited to your requirements.

Specialist solutions may be tailored to suit:

Truck loans that work with your cash flow and deliver ROI:

  • Fixed interest rates
  • Fixed loan terms up to 7 years
  • Fixed monthly repayments
  • Balloon, residual, payout, buyback options

Individual lenders have their own requirements and guidelines. We connect you with lenders that are suited to your requirements – your business and the truck you are purchasing.

Competitive Loans for All Industries, All Businesses, All Trucks

  • Construction and building heavy vehicles
  • Agitators, concrete, crane vehicle
  • Mining and resource heavy vehicles
  • Waste, recycling and process trucks
  • Refrigerated trucks
  • Trucks that deliver across the city or across the country
  • Agricultural, farming and rural trucks
  • Livestock transport vehicles
  • Removals and storage vehicles
  • Transport fleet operators
  • Light commercial, mid-range, Pantechs, haulers, B-doubles
  • Heavy vehicle and trailer finance
  • All purposes heavy vehicles

Sourcing a Cost-Effective, Cheap Truck Loan

We will connect you directly and quickly with the lenders and brokers that will save you time, money and hassle in sourcing your loan.

Connect with us for banks, lenders and brokers that offer cost-effective heavy vehicle loans

Truck Loan FAQs

For most operators, the purchase of a new truck is major decision. Covering off on all aspects of the lending process can pay off in delivering a cheaper loan. We’re answering some of your possible questions to assist you in fully understanding what is available and how you can access cheap lending. For more answers and a quote, contact us directly.

What Truck Loan interest rate will I get?   

Getting a cheap interest rate on your credit is key to getting a cost-effective and overall cheap loan. We have prepared a comparison interest rate chart which shows the cheap interest rates that we are currently offering across our loan portfolio. Different loan types attract differing interest rates. Refer to that chart to see the difference. These rates are based on a few conditions as indicated included a good credit profile and purchase of new goods. For the purposes of a guide, buyers of new trucks with good credit can use the interest rates we advertise in their planning. If you do not meet all the criteria and lender guidelines, you may still be offered these low rates but with stricter criteria or with additional conditionals placed on your loan.

Are Low Doc loans available for truck loans?    

Yes definitely. It refers to commercial organisation that do not have all the documents that lenders request when applying for lending. These include BAS returns, profit and loss statements, income tax returns, income expenses records and other docs. If an organisation is new, they would not have such extensive trading records, so applying for a Low Docs loan is an option. If approved for a loan this can be utilised for the choice of Chattel Mortgage, Leasing, CHP or Rent to Own.

Which loans are best for Instant Asset Write Off?   

IAWO and temporary full expensing are both accelerated asset depreciation measures which are introduced by government from time to time. Eligibility criteria must be met with these measures in regard to the organisation and to the assets, in this instance, the truck being purchased. These measure deliver a tax benefit by being able to depreciate the full or a set portion of the purchase price in the financial year of purchase rather than over multiple years. In order to depreciate a truck as an asset the asset must be listed on the commercial balance sheet. Chattel Mortgage is the most suitable form of lending for this purpose as the ownership of the truck is accepted by the borrower, the truck is on their balance sheet and can be depreciated in accordance with ATO guidelines. Both Leasing and Rent to Own are off balance sheet facilities and as such not depreciable as assets by the borrower.

What are balloons and residuals?   

A balloon and a residual are different names for similar concepts. They are both a portion of a truck loan which is postponed to be paid at the end of the loan rather than incorporated into the repayments schedule. With Chattel Mortgage and CHP this is known as a balloon and with Leasing it is referred to as the residual. The amount of a leasing residual may be subject to ATO guidelines but the amount of a balloon is usually made in agreement between borrower and lender. This is often spoken of as percentage of the purchase price/loan amount. It is due for payment in full when all monthly scheduled repayments are finalised.

What’s the best way to get a cheap truck loan?   

When it’s time to buy a new truck and source a loan, commercial operators have a few options. They can go it alone and approach different banks and lenders for loan quotes to compare, they can opt for perceived convenience of manufacturer credit at the point of purchase or they can opt for what is considered by many as the astute approach to commercial lending, engaging the services of a broker. The broker covers off multiple lenders quickly and efficiently, courtesy of their vast accreditations. Saving you the time and providing you with multiple choices, ensuring you have the cheapest offer. They have extensive bargaining power to negotiate on conditions which can be costly to a loan. While dealer lending may seem convenient, it offers only one loan option. A broker can offer you multiple choices which increase the chances that you have secured the cheapest loan.

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