Concrete Truck Finance: Rates & How It Works

Key highlights

• Concrete truck finance is usually structured as a chattel mortgage over the mixer
• Indicative rates from around 6.55% p.a. apply, subject to lender assessment
• Lenders weigh truck age, drum condition, deposit and your trading history
• Terms often run two to five years to match the asset's working life
• One application to 80+ lenders saves you shopping bank by bank

What is concrete truck finance and how does it work?

Concrete truck finance is asset-based lending secured against the agitator itself. Most operators use a chattel mortgage, where you own the mixer from day one and the lender holds security until the loan is repaid. The truck acts as collateral, which generally keeps rates lower than unsecured funding. You agree a term, typically two to five years, and repay in fixed instalments that suit the revenue your drum generates. Because a concrete mixer is a purpose-built body mounted on a heavy chassis, lenders assess both the cab-chassis and the barrel as one working unit. Getting the structure right from the outset means predictable repayments and a clear path to owning the asset outright, subject to lender criteria and your business profile.

What indicative rates can you expect on a concrete mixer?

Rates on concrete truck finance depend on the age of the mixer, your deposit, your credit profile and how long you have been trading. For eligible applicants, indicative rates start from around 6.55% p.a., framed as indicative and always subject to full assessment. Newer agitators with lower kilometres and strong documentation tend to attract sharper pricing, while older barrels or limited financials may sit higher. A meaningful deposit or a trade-in can also improve the offer you see. Rather than accepting the first quote from a single bank, comparing a wide lender panel helps surface pricing that genuinely fits your situation. Simon can run your numbers across 80+ lenders and show you where your profile lands, depending on your circumstances.

What do lenders look at when assessing your application?

Lenders reviewing a concrete truck deal focus on a mix of the asset and the borrower. On the asset side, they consider the make, age, hours or kilometres, drum condition and resale value, since the mixer is their security. On the borrower side, they weigh your ABN and GST registration length, trading history, existing commitments and credit conduct. Contracts with batching plants or builders can strengthen an application by showing steady work. If you are newer to business or self-employed with lighter paperwork, low-doc options may still be available for eligible applicants. Presenting a clean, well-organised file helps lenders say yes faster, though every decision remains subject to that lender's individual criteria.

How should you structure a concrete truck loan?

Structure is where a broker earns their keep. A chattel mortgage is the common choice for concrete operators wanting to claim the asset on their books, but hire purchase or a rental structure may suit others depending on accounting preferences. You can often tailor the deposit, the loan term and whether you finish with a balloon or residual payment that lowers monthly instalments. A balloon keeps cash free while the truck earns, but leaves a lump sum at the end, so it needs planning. Seasonal cash flow around construction cycles can sometimes be smoothed with flexible repayment options. Always confirm the tax treatment of any structure with your accountant, since the right setup depends on your business and how you report.

What documents do you need to apply?

The paperwork you need depends on whether you go full-doc or low-doc. A straightforward application usually asks for your ABN and GST details, a driver licence, and either recent business bank statements or financials such as tax returns and BAS. For eligible applicants with a strong asset and clean credit, low-doc lending may need far less, sometimes just bank statements and an asset invoice. Having a signed purchase invoice or dealer quote ready, plus details of the specific mixer, speeds things up. If you are trading in an older agitator, gather its details too. Simon can tell you upfront which document path fits your profile, so you are not gathering paperwork a lender never asks for.

Can you finance both new and used concrete trucks?

Yes. Lenders finance new agitators bought from dealers and used mixers sold privately or through auctions, though the terms differ. New trucks generally attract the longest terms and the sharpest indicative pricing because their resale value is predictable. Used concrete trucks are widely financed too, but lenders look closely at the drum, the chassis condition and total kilometres, and they may cap the loan term based on the asset's remaining working life. Very old mixers can be harder to fund or may need a larger deposit. Buying used can be a smart way to enter the game or expand a fleet without the new-truck premium, provided the barrel and running gear are sound and the deal stacks up for the lender.

How does using a broker help concrete operators?

Going lender by lender is slow, and each direct application can leave a mark on your credit file. A broker flips that around. Simon takes one application and compares it across a panel of 80+ banks and non-bank lenders, then brings back the options that suit a concrete operator rather than a generic business. That matters because not every lender likes agitators, and some price them better than others. A broker also knows which lenders are comfortable with owner-operators, low-doc files or older trucks, so you are pointed toward the right desk the first time. The result is less legwork for you, a clearer picture of your realistic options, and structuring advice tailored to how concrete work actually pays.

If you are weighing up a concrete truck, the simplest next step is an obligation-free quote. Simon can run a soft credit check that does not mark your file, compare your profile across 80+ lenders, and show you indicative options tailored to your business. For eligible applicants, decisions are often available within 24 to 48 hours. Get in touch with Overdrive Truck Finance and see where your numbers land before you commit.