For any ABN holder who uses a vehicle for business purposes — whether you are a tradie with a ute, a courier with a van, or a company running a fleet of cars — business vehicle finance is one of the most accessible and tax-effective ways to acquire the vehicles your business needs. Using your ABN to finance a business vehicle gives you access to products, rates and tax benefits that private vehicle loans simply do not offer.
Who Can Use Their ABN to Finance a Business Vehicle?
Business vehicle finance is available to any entity with an active ABN — sole traders, partnerships, companies, trusts and self-managed super funds. The vehicle must be purchased primarily for business use. You do not need to have been trading for a minimum period, as many lenders will approve 1-day ABN holders, though your rate will improve with longer ABN history and stronger financials.
Types of Business Vehicles Financed
Through Overdrive Funding, ABN holders can finance utes, vans, SUVs, passenger cars, buses, minibuses and entire commercial fleets. Popular vehicles we finance include the Toyota HiLux, Toyota LandCruiser, Ford Ranger, Ford Transit, Isuzu D-Max, Mercedes-Benz Sprinter, Volkswagen Transporter, Toyota HiAce, Hyundai Staria, Ram 1500, LDV utes and vans, and BYD and Tesla fleet EVs. New, used and demo vehicles are all eligible.
Low Doc Business Vehicle Finance for ABN Holders
Low doc business vehicle finance is available up to $500,000 for ABN holders and requires minimal documentation — typically just your ABN, driver's licence and details of the vehicle. There is no requirement to provide tax returns, financial statements or BAS statements under a low doc application. For lower-value vehicles under $100,000, many lenders can provide same-day approval for established ABN holders with clean credit.
Tax Benefits for ABN Holders
Financing a business vehicle under your ABN — rather than as a private borrower — comes with significant tax benefits. Under a chattel mortgage (the most common structure), ABN holders who are GST-registered can claim the full GST on the purchase price in their next BAS, reducing the effective purchase price immediately. The interest component of repayments is tax-deductible, and the vehicle can be depreciated in the business tax return. Sole traders can also potentially apply the instant asset write-off to the vehicle if they meet ATO eligibility criteria.
Business Vehicle Finance Rates for ABN Holders
Business vehicle finance rates for ABN holders currently range from approximately 6.1% to 15% per annum depending on your ABN history, credit profile, vehicle age and the lender. Established businesses with 2+ years of ABN history and clean credit typically access rates between 6.1% and 8%. Newer ABNs or those with past credit issues may see rates between 9% and 13%. A broker with access to 80+ lenders will always achieve a better rate than a single bank or dealership can offer.
Overdrive Funding works with ABN holders across Australia to arrange business vehicle finance at competitive rates. Director Simon Kendrick compares 80+ lenders and handles everything from application to settlement. Contact us today for a free, no-obligation quote.