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Truck and Trailer Finance for Owner-Drivers and Fleets

Whether you’re an owner-driver buying your first truck or a transport business adding to the fleet, the right finance keeps you on the road without draining your cash. We finance light trucks, rigid trucks, prime movers and trailers, new and used.

Get a truck finance quote

What we can finance

  • Light and medium rigid trucks
  • Heavy rigid trucks and prime movers
  • Trailers, including flat tops, tippers, refrigerated and curtain-siders
  • Tippers and specialised bodies
  • Fleet purchases and refinancing existing truck loans

Finance options

  • Chattel mortgage: your business owns the truck from day one
  • Finance lease: lease the truck with an option to buy at the end
  • Balloon payments: lower monthly repayments with a lump sum at the end, useful if you trade up regularly

Tax points for trucks

Trucks are not passenger cars, so the car limit on depreciation generally doesn’t apply. If your business is registered for GST and you use a chattel mortgage, you can usually claim the GST on the purchase price in your next BAS. You may also be eligible for fuel tax credits. Check the ATO’s simpler depreciation rules with your accountant.

What lenders look for

  • Experience: how long you’ve held the right licence and been in transport
  • Work lined up: contracts or regular work, especially for new owner-drivers
  • Time in business: established operators usually get better terms
  • The truck: age, kilometres, make and resale value
  • Credit history and any property you own

New owner-drivers

Going out on your own is a big step. Many lenders are cautious with brand new businesses, but there are options, especially if you have years of driving experience, a contract with a reliable company, a deposit, or property. A letter from the company you’ll be contracting to can make a real difference.

If you’ll also be applying for a home loan, plan the timing carefully. See self-employed home loans.

Example

Steve had driven for a large freight company for eight years. When they offered him a subcontract, he needed a prime mover. With his experience, the signed contract and a modest deposit, he financed a used prime mover with a chattel mortgage, and the contract income covers the repayments.

Illustrative example only.

FAQs

Can I finance an older truck?

Often yes, though lenders set age limits at the end of the loan term. Older trucks may need a shorter term or a deposit.

Can I finance a truck bought at auction?

Yes, but get pre-approval first, as auctions move quickly and payment is usually due soon after.

Can I refinance my current truck loan?

Often yes, if a better rate or structure is available. We can compare it for you.

Related pages

Talk to us about truck finance

Albert Waldron is a Credit Representative (407514) of Australian Finance Group Ltd, Australian Credit Licence 389087. This is general information only and does not take into account your personal circumstances. Please seek advice before acting. Finance is subject to lender approval, terms and conditions. Tax information is general only; speak to your accountant about your situation.