Prime movers — also known as semi-trucks or heavy combination tractors — represent the highest-value segment of the Australian commercial truck market. Finance amounts of $200,000 to $600,000-plus are common, which means lender selection, structure and negotiation have a significant impact on the total cost of the loan.
What Prime Mover Finance Covers
Prime mover finance can cover the cab and prime mover unit, modifications and accessories (refrigeration units, additional axles, specialised hitching), extended warranty packages, on-road costs including registration and CTP insurance, and associated trailer purchases under a separate or combined facility. Most lenders treat the prime mover and trailer as separate assets for security purposes.
Brands We Finance
- Kenworth prime movers
- Mack prime movers
- Western Star prime movers
- Freightliner prime movers
- Volvo prime movers
- Mercedes-Benz prime movers
- Scania prime movers
- MAN prime movers
- Hino prime movers
- Isuzu prime movers
- Fuso prime movers
- UD prime movers
- Caterpillar prime movers
- Renault prime movers
Low Doc Prime Mover Finance
Low doc prime mover finance is available up to $500,000 through specialist lenders — no tax returns required. For higher loan amounts, full doc assessment is required, typically using two years of financial accounts and tax returns. Given the average prime mover price, many applications fall within the low doc limit, particularly for second-hand or older units.
New vs Used Prime Movers
New prime movers attract rates from 6.1 percent and have access to the full lender panel. Used prime movers are well-supported by specialist lenders — many Australian operators buy prime movers at 5 to 10 years old and finance them through specialist panels at competitive rates. Very high-kilometre or very old units (15-plus years) require specialist lender assessment and generally command higher rates or deposit requirements.
Loan Terms for Prime Movers
Prime mover loan terms typically range from two to seven years. Longer terms reduce monthly repayments but increase total interest paid. A balloon payment (residual) at the end of the term is commonly used for prime movers to keep monthly repayments manageable — the balloon represents the expected residual value of the prime mover at the end of the term and must be paid or refinanced at that point.
Overdrive Funding specialises in prime mover and heavy combination finance across 80-plus lenders. Compare rates for your specific prime mover with a free consultation.