No deposit truck finance allows eligible businesses to finance up to 100 percent of the purchase price of a truck without putting any money down upfront. This preserves working capital for running costs — fuel, tyres, insurance and day-to-day operation — while still getting the truck on the road and generating income.
Who Qualifies for No Deposit Truck Finance?
No deposit truck finance is available to prime applications meeting all of the following: ABN registered for 2 or more years, GST-registered for the same period, clean credit history (no defaults, judgements or debt agreements), strong business bank statements showing consistent income, and the truck being purchased is appropriate for the loan amount. Not every applicant will qualify — lenders assess the whole picture.
What Does 'Up to 100%' Mean?
Some lenders offer up to 105 percent financing to cover on-road costs such as registration, insurance or minor accessories. Most no deposit products finance exactly the agreed purchase price (100 percent). The 'no deposit' refers to no cash required from the borrower at settlement — though any trade-in value or previous finance payout is accounted for separately.
What Trucks Can Be Financed with No Deposit?
No deposit truck finance typically applies to newer trucks where the lender has high confidence in the security value. New trucks and trucks up to five years old are most commonly eligible. Older trucks may require a deposit even for prime applicants because the lender's security value risk increases with age. High-value prime movers, refrigerated trucks and specialist vehicles are assessed individually.
What If I Don't Qualify for Zero Deposit?
If you don't meet the prime criteria for no deposit, a low deposit option may still be available. Low deposit truck finance typically requires 10 to 20 percent upfront and is accessible to a wider range of applicants — including those with 12 to 24 months ABN history or some prior credit history. A smaller deposit significantly improves approval odds and may reduce the interest rate offered.
Rates on No Deposit Truck Finance
No deposit truck finance rates for prime applicants start from 6.1 percent per annum. Because the loan covers the full purchase price, the monthly repayments are higher than an equivalent loan with a deposit. Using a balloon payment at the end of the term can reduce monthly repayments if cash flow management is a priority.
When the Banks Say No
When the banks say no deposit is not possible, Overdrive Funding will find a way to get you approved. The major banks rarely offer zero deposit commercial finance, and when they do, the criteria exclude most applicants. Our specialist lenders offer no deposit truck finance to qualifying operators — with a straightforward assessment of your trading history, credit file and the truck as security. If you don't qualify for zero deposit, low deposit options that preserve more of your working capital are also available.
Overdrive Funding assesses no deposit truck finance eligibility across 80-plus lenders. Contact us for a free pre-approval check — no impact on your credit score.