Is there truck finance near me?

Yes. Overdrive Funding arranges truck and trailer finance for transport operators Australia-wide, including Sydney, Melbourne, Brisbane, Perth, Adelaide, Gold Coast, Canberra, Darwin, Tasmania and regional areas. Asset finance is not a local product, so you are not limited to lenders or brokers in your own postcode. Everything runs by phone and email and you deal directly with Simon.

What is the best finance broker for owner-drivers?

Owner-drivers need a broker with lenders that assess driving experience and contracts rather than demanding two years of financials and property security. The right broker structures the balloon around real freight income instead of defaulting to the lender's maximum, and does not charge you a fee. Overdrive Funding's Director Simon Kendrick has over 30 years of commercial finance experience working with owner-drivers and fleets.

Can I get truck finance as a first-time owner-operator?

Yes. Specialist transport lenders assess first-time owner-operators on your driving and industry experience, the freight contract or work you have lined up, and the value of the truck. Low doc approvals, $0 deposit options for strong profiles and finance on a newer ABN are all available. Expect rates around 9% to 12% for a new ABN, with deposits generally 10% to 30%.

Should I finance a truck or a trailer first?

It depends on your work. If you are pulling for a company that supplies trailers, the prime mover comes first. If you have your own freight and need capacity, financing both together is common and we can structure them so the combined repayment suits your cash flow. Trailers hold value well and are generally easier to finance than trucks, which can help a first application.

How do I keep repayments manageable when freight rates drop?

Structure matters more than the headline rate here. A balloon of 20 to 40% at the end of the term materially lowers the monthly commitment, which protects you when rates soften or a customer stretches payment terms. Set the balloon against what the truck will realistically be worth, not simply as high as the lender allows. Pairing finance with [invoice finance](/invoice-finance) also bridges the gap between delivering freight and being paid.

What truck finance rates are available in Australia?

Truck finance rates in Australia currently start from around 6.29% per annum for established operators with clean credit financing new trucks. Used trucks, new ABNs and adverse credit attract higher rates. Comparing 80+ lenders through a broker gives you the widest range of rate options.

Can I get no deposit truck finance?

Yes. No deposit truck finance is available for eligible operators with 2+ years ABN, active GST registration and clean credit. Lenders assess the truck's resale value and your business history to determine no-deposit eligibility.

Can I finance a used truck?

Yes. Used trucks from dealers, private sellers and auction are all financeable. Lenders assess the age, condition, kilometres and resale market for the specific truck. Most lenders have no blanket age restriction on well-maintained trucks from reputable sources.

What is a chattel mortgage for truck finance?

A chattel mortgage is the most common truck finance structure in Australia. You own the truck from day one, the lender holds a mortgage over it as security, and you make fixed monthly repayments. The interest and depreciation are typically tax-deductible for GST-registered businesses.

Can I get truck finance with a new ABN?

Yes. Specialist lenders offer new ABN truck finance — particularly for well-known brands with strong resale values. A deposit and clean personal credit strengthen new ABN applications. Standard lenders typically require 2+ years ABN history.

Can I get low doc truck finance?

Yes. Low doc truck finance is available up to $500,000 without tax returns or BAS statements. You need your ABN, driver's licence and recent bank statements. Same-day conditional approvals are common for low doc truck finance applications.

How quickly can truck finance be approved?

Most truck finance applications receive a credit decision within 24 to 48 hours. Low doc applications are often approved the same day. Pre-approval for auction purchases can be arranged before the auction.

Should I use a broker or go direct to a bank for truck finance?

A broker compares multiple lenders simultaneously — typically 80+ — which gives you access to rates and products unavailable through a single bank. Brokers also understand how different lenders assess truck types, ABN lengths and credit profiles, so they can match your application to the most suitable lender from the start.

Can you arrange insurance for my truck or trailer?

Yes. Overdrive Funding works with trusted insurance partners who can arrange the right cover alongside your finance application. Whether you need comprehensive, CTP, public liability or fleet cover, we can connect you with specialist providers to protect your truck or trailer from day one.

Can you beat my current finance quote?

We often can. Overdrive Funding has access to exclusive lenders offering discounted rates that aren't available directly through banks, dealers or other brokers. If you have an existing quote, send it to us and we'll compare it against our full panel of 80+ lenders — free of charge with no impact on your credit score.

Transport Finance Australia | Owner-Operator & Fleet Truck Loans

Name: Overdrive Commercial Funding
Address: 54 Miller St, North Sydney, NSW, 2060, AU
Telephone: +61417000316
Price range: Free
Rating: 5

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Key Takeaways

Finance available for single-truck owner-operators through to fleet operators running 50+ units.
Fleet pre-approval facilities give you committed borrowing capacity to buy quickly when the right truck becomes available.
Low doc (no financials) transport finance up to $500k for eligible ABN holders — assessed on ABN, BAS and bank statements.
No deposit finance available for established operators — a balloon payment can protect cash flow between contracts.
Working capital, invoice finance and cash flow facilities also available to bridge payment cycles in transport.
Transport finance deals: We guarantee the best deal available in the market and our services are free — we're paid a "referral fee" by the lender after settlement, no cost to you.

Transport is one of the most capital-intensive industries in Australia. A single prime mover and trailer can run into the hundreds of thousands, and keeping a fleet on the road means constant investment in replacement trucks, trailers, tyres, maintenance and working capital. Whether you're a first-time owner-operator stepping out on your own or an established operator managing a growing fleet, the right transport finance keeps your trucks earning without tying up the cash you need to run the business.

This guide explains how transport finance works for both owner-operators and established fleets — what you can finance, the loan structures available, how approvals differ, and how to protect your cash flow along the way.

What transport finance covers

Transport finance isn't limited to the truck itself. Lenders on our panel finance the full range of assets and working capital a transport business relies on:

Prime movers, rigids, tippers, tautliners and vocational trucks
Semi-trailers, B-doubles, road trains, tankers and refrigerated units
New, used, ex-fleet, dealer, private-sale and auction purchases
Fleet upgrades and replacement cycles
Refinancing existing truck and trailer loans
Working capital, invoice finance and cash flow funding between pays

Finance for owner-operators

Making the jump from company driver to owner-operator (owner-driver) is where a lot of good operators hit a wall with the banks. You've got the experience and often a contract lined up, but you may not have two years of business financials, property to offer as security, or a long ABN history. Specialist transport lenders assess the deal differently — they look at your driving and industry experience, the freight contract or work in front of you, and the value of the truck itself.

That means low-doc approvals (no full financials), $0 deposit options for the right profiles, and finance available even on a newer ABN. For a first truck, structuring the loan around how your freight income actually flows — including a balloon to keep repayments manageable — can be the difference between a deal that works and one that squeezes you from day one.

Finance for established fleets

For established operators, the challenge is less about getting approved and more about structuring finance efficiently across multiple assets. We arrange fleet finance that can fund several trucks and trailers under one credit decision, refinance existing loans to free up cash flow or lower repayments, and restructure balloons before they fall due. With access to 80+ lenders, we can split a package across more than one lender where that gets you a sharper overall outcome, and match older or specialist assets to lenders comfortable with them.

Finance structures

Chattel mortgage — you own the truck from day one, claim the GST and depreciate the asset. The most common structure for transport operators.
Commercial hire purchase — the lender owns the asset until the final payment, then it transfers to you.
Finance lease — the lender owns the asset and you pay to use it, with a residual at the end. Useful for fleets managed on a turnover cycle.
Rent-to-own — a flexible path that can suit newer operators or those rebuilding a credit profile.

Financing truck bodies and modifications

A truck is rarely just the base vehicle. Tray bodies, refrigeration units, tipping bodies, curtainsiders, crane attachments, tankers and specialised fit-outs can add tens of thousands to the total cost. Wherever possible we include the body build and modifications in the one finance facility, so the whole investment is funded at the same competitive rate with consistent GST treatment — and some lenders offer staged drawdowns that release funds as the base truck is delivered and then built up.

Low doc and no-deposit options

Banks lean on full financials and often discount freight and contract income in their credit templates — which is exactly why so many transport operators get knocked back. Low-doc transport finance is available up to $500,000 on the strength of your ABN and bank statements, without full tax returns. And you don't always need a deposit: $0 deposit is available for asset-backed businesses with around two years of GST registration, with other no-deposit options depending on the lender and your profile.

Protecting your cash flow

In transport, you often pay for fuel, wages and maintenance well before the freight invoice gets paid — sometimes 30 to 60 days later. Financing your trucks rather than paying cash keeps working capital in the business, and the right funding can bridge the gap between doing the work and getting paid. Matching your loan term to how long you'll keep the asset, and using balloons sensibly, keeps repayments aligned with real-world income rather than what simply looks cheapest on paper.

Beyond the truck: business funding for transport operators

Transport finance isn't only about the asset. Running a fleet means covering fuel, wages, maintenance, tyres and compliance while you wait on freight invoices — so we also arrange the working-capital side of the business:

[Cash flow loans](/cash-flow-loans) — fast funding to cover fuel, wages and maintenance between pays
[Invoice finance](/invoice-finance) — unlock up to 80% of your outstanding freight invoices straight away, instead of waiting 30–60 days for customers to pay
[Business overdrafts and lines of credit](/business-overdraft-finance) — a revolving buffer you can draw on for seasonal peaks and unexpected costs
[Insurance premium funding](/insurance-premium-funding) — spread the cost of truck, fleet and public liability insurance across the year instead of paying it all upfront
[Tax debt refinancing](/tax-debt-loans) — refinance an ATO tax debt into manageable repayments so it doesn't hold the business back

The tax angle

Financing a truck through the right structure can be more tax-effective than paying cash. A chattel mortgage generally lets you claim the GST on the purchase and depreciate the asset, and eligible assets may qualify for the instant asset write-off. The thresholds and rules change, so confirm the details with your accountant for your specific situation.

Why use a transport finance broker?

Your bank offers one rate and one credit policy. A broker compares the whole market. At Overdrive Funding we compare 80+ lenders — including specialist transport financiers most brokers can't access — assess your business on your freight income and experience rather than just a credit score, negotiate the rate, and handle the paperwork and settlement with the dealer, private seller or auction house. One application, multiple options, and a pre-approval valid for 90 days so you can buy with confidence. Explore our truck finance options or send us a quote you've already received and we'll benchmark it for free.

Transport finance FAQs

Can I finance my first truck as an owner-operator? Yes — specialist lenders regularly approve first-truck deals on experience, a contract and the asset, without years of financials. Do I need property? No — many lenders secure the loan against the truck rather than your home. Can I finance a used or ex-fleet truck? Yes, with the age and condition assessed against the lender's policy. Can I refinance my existing truck loans? Yes — to lower repayments, free up cash flow or consolidate multiple loans into one. How fast is approval? Pre-approval is typically inside 24 to 48 hours once your documents are in.

Whether you're buying your first prime mover or refreshing a whole fleet, get in touch with Simon and the team for a free, no-obligation quote and see how much you could save on your transport finance.

Transport Finance for Owner-Operators and Established Fleets