Overdrive Funding arranges competitive business vehicle finance for Australian businesses. We compare 80+ banks and specialist lenders, negotiate the deal and manage everything from start to finish.
Financing a car through your business is straightforward, but the difference between a good deal and a poor one is usually several thousand dollars over the term. Here is what actually matters.
What you can finance
New and used cars from dealers, private sellers or auctions anywhere in Australia, plus fit-outs where they are purchased at the same time. We only finance vehicles located in Australia. See our business vehicle finance page for the full range.
The car limit — read this before you buy
This is the single most misunderstood part of financing a car through a business. Cars are subject to a car limit that caps the depreciation you can claim regardless of what you paid, and the GST credit is capped in a related way. Buying a $90,000 car does not give you $90,000 of depreciation.
Utes and vans above a certain load capacity may fall outside the car limit and be treated differently, which is why the tax outcome on a work ute can be better than on a car of similar price. If the tax treatment is part of your reasoning, confirm the current limits and your position with your accountant before you commit — the benefit is frequently smaller than people assume.
Rates and deposits
Established ABN (2+ years), new vehicle, full doc
Established ABN, used vehicle, low doc (no financials)
Newer ABN (under 12 months)
Prior credit issues or specialist lending
| Borrower profile | Indicative rate | Typical deposit |
|---|---|---|
| Established ABN (2+ years), new vehicle, full doc | From 6.1% | $0 – 10% |
| Established ABN, used vehicle, low doc (no financials) | 7% – 10% | 10% – 20% |
| Newer ABN (under 12 months) | 9% – 12% | 10% – 30% |
| Prior credit issues or specialist lending | 12% – 15% | 20% – 30% |
Rates are indicative only and subject to lender assessment, the vehicle, term and your individual circumstances. Low doc (no financials) business vehicle finance is available up to $300k for the right profiles.
Getting the best deal
Get pre-approved before you shop — it tells you your ceiling and lets you negotiate on price rather than on a monthly repayment. Then compare the market rather than accepting the dealer's financier. On a $60,000 vehicle over five years, a two-point difference is thousands of dollars.
Get a quote
Looking for the best rate on business vehicle finance? You're in the right place. Speak directly with Simon and our team for a free, no-obligation quote, or get a free quote online. Our service is completely free. We're paid by the lender only after a deal settles, so there's no cost to you—even if you choose not to proceed.