Used truck finance comes down to one number lenders care about most: the truck’s age at the end of the loan term. Here’s how the rules work.
Key highlights
- Lenders care most about the truck's age at the end of the term
- Age caps commonly sit around 12-15 years; heavy prime movers can go older
- Older trucks may need a shorter term, deposit or slightly higher rate
- Specialist and non-bank lenders are often more flexible than the majors
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The end-of-term age rule
Most lenders cap the truck’s age at the end of the loan, commonly around 12–15 years for many trucks (heavy prime movers can go older). So a 7-year-old truck on a 5-year term is usually straightforward; a 12-year-old truck may need a shorter term.
Rates and conditions on older trucks
Older or higher-kilometre trucks can attract a slightly higher rate, a shorter term, or a deposit — but they’re very financeable, including private and interstate sales. Specialist and non-bank lenders are often more flexible than the majors here.
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