Financing a concrete truck, usually an agitator or mixer, generally means a chattel mortgage secured against the vehicle and drum. You own it from settlement, repay over one to seven years and can add a balloon to ease monthly repayments. Because the mixing drum and hydraulics add value and wear, lenders assess condition carefully. Overdrive compares 80+ banks and non-bank lenders to structure finance around your batching and delivery work.
Key highlights
- Chattel mortgage funds the truck and mixing drum as one asset.
- Lenders assess drum, hydraulics and overall condition of the unit.
- Align repayments with batch plant contracts and pour volumes.
- Pre-approval helps you secure an agitator truck quickly.
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The common structure for a mixer
Concrete agitator trucks are specialised: the rotating drum, hydraulics and heavy chassis all add value and see hard use. Most operators fund the truck with a chattel mortgage, owning it from settlement, securing the loan against it and repaying over one to seven years. A balloon can lower monthly repayments so the truck carries itself between contracts. Because agitators work in an abrasive environment, lenders pay attention to condition, so a well-maintained unit supports a stronger offer. If you run to a batch plant contract, aligning the finance term with your expected work period is worth discussing when you compare lenders.
What lenders look for
Lenders assess the agitator and the business behind it. For the truck, they consider age, kilometres, drum and hydraulic condition, and service history, since concrete work is tough on equipment and older units may be priced higher. On the business side, they review your ABN and GST registration, time trading, supply or subcontractor agreements with batch plants or builders, and your credit history. Established operators may access low-doc finance without full financials. Newer businesses can still be approved, particularly with a deposit, a supply contract or added security to strengthen the application and help sharpen the rate, subject to lender criteria.
Deposit, balloon and cash flow
Concrete cartage income can be steady when you hold a plant contract, so repayments are often set monthly, though weekly or fortnightly may suit better. A balloon of 20 to 40 per cent trims monthly repayments and frees up cash for fuel, maintenance and drum wear. No deposit is common for strong applicants, while a deposit or trade reduces the amount financed and can improve the rate. Budget for the higher servicing costs that come with agitator work. Indicative rates start from around 6.55% p.a. for strong, asset-backed deals; older trucks or weaker credit are priced higher, subject to lender assessment.
Getting pre-approved
Whether you buy from a dealer, a batch operator upgrading fleet or at auction, pre-approval sets your budget and lets you negotiate as a cash buyer. Have your ABN, GST and licence details, any batch plant or supply contracts, and recent bank statements ready. A broker lodges one application and compares lenders in the background, so you are not repeating paperwork across banks. For eligible applicants, same-day pre-approval and 24 to 48 hour settlement may be available, which helps when a well-kept agitator becomes available and you want to move on it before another operator does.
Ready to price a concrete truck? Simon Kendrick at Overdrive can compare 80+ lenders and structure repayments around your pour schedule and plant contracts. Request a free quote for an indicative rate and pre-approval.
Frequently Asked Questions
Can I finance a used concrete agitator truck?
Yes. Used agitators are financed regularly, though lenders scrutinise drum and hydraulic condition and service history because concrete work is hard on equipment. Older or high-hour units may attract a higher rate or shorter term, but a deposit, clean credit and a strong ABN can help you access a competitive offer, subject to lender assessment.
Do I need a contract with a batch plant to get finance?
Not always, but a supply or subcontractor contract strengthens your application by showing clear income for the truck. Established operators may be approved on low-doc terms without one. Newer businesses often find a contract, a deposit or added security helps secure approval and a better rate, subject to lender criteria.
How long can I finance a concrete truck for?
Terms typically run one to seven years. A longer term lowers each repayment but costs more interest overall, so many operators match the term to how long they expect to keep the truck or hold their current contract. Adding a balloon can further reduce monthly repayments where cash flow is a priority.
Can I claim GST and interest on a concrete truck?
Generally, a chattel mortgage may let you claim interest and depreciation as business expenses, and GST on the purchase can often be claimed in your next activity statement. Servicing costs may also be deductible. Treatment depends on your circumstances, so always confirm the detail with your accountant.
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