Heavy Vehicle Finance: Frequently Asked Questions

Purchasing a new heavy vehicle is a major business investment and deserves careful consideration, especially when it comes to financing. Heavy vehicle loans can be structured over many years, so securing the best deal upfront is crucial to ensure the long-term return on your investment.

We provide detailed information across our website, but if you still have questions, you can contact Sharyn on 07 3519 9187 for personalised guidance.

What types of trucks can I finance?

Almost every type and brand of truck can be financed, including leading manufacturers such as:

Scania, Volvo, Mack, Iveco, Isuzu, Kenworth, DAF, Freightliner, Mercedes-Benz, UD, Hino, Western Star, and others.

We finance light, medium, and heavy-duty trucks across a wide range of body types, including:

Rigid trucks
Semi-trucks & B-doubles
Crane trucks
Refrigerated trucks
Car carriers
Livestock transporters
Tippers & agitators
Pantechs & curtainsiders
Prime movers
Water trucks & dump trucks
Tray tables & tankers

Note: Some lenders may have restrictions on financing prime movers, interstate haulage, or older vehicles. However, there are many lenders that accommodate these types of trucks.

What truck loans are available?

The right type of loan depends on your business and financial situation. We recommend consulting with your accountant or financial advisor to determine which option suits your needs. Common truck loan types include:

Chattel Mortgage – Ownership at the end, with GST and tax benefits for businesses.
Leasing / Operating Lease – Flexible structure, often used for business tax purposes.
Commercial Hire Purchase (CHP) – Payments over time, ownership transfers at the end.
Rent to Buy / Rent to Own – Useful for businesses looking to manage cash flow.

Each loan type has different implications for GST and tax treatment, so professional advice is recommended.

What loan terms are available for trucks?

Most truck loans are structured between 3–5 years (36–60 months). The term you choose affects your repayments:

Shorter terms: Higher monthly repayments, but faster loan payoff.
Longer terms: Lower monthly repayments, but the loan takes longer to repay.

Some loans may also include balloon or residual payments at the end of the term, which can reduce your monthly repayments or allow for interest-only arrangements.

What types of businesses can apply?

All business types and structures are eligible to apply for truck finance, including:

Sole traders
Partnerships
Pty Ltd companies
Public companies
Large privately-owned corporations

To qualify, the truck must be used predominantly for business purposes (over 50%), and applicants must hold a current ABN and GST registered.

Documents Required to Apply for Truck Finance

When applying for truck finance, lenders will need certain documents to assess your eligibility and financial position. Having these ready can make the process smoother and faster.

Commonly Required Documents

Proof of Identity: Driver’s licence or passport
ABN Details: Current Australian Business Number information
Bank Statements: Typically 6–12 months of recent statements
Tax Returns or Financial Statements: Personal or business financial records

Note: Depending on the loan type and amount, some lenders may request additional documents. It’s a good idea to check with your finance broker or lender in advance to ensure you have everything prepared.