What will the truck or trailer cost you a week?
Run the numbers on the all-in figure before you commit. Set the price, deposit, loan term and balloon for an indicative weekly or monthly repayment. The real number comes back once we've matched your deal to the right lender — for free, with no impact on your credit score.
Truck Finance Calculator
Indicative only. When using this tool the calculation does not represent or indicate any offer for a loan, quote or approval. It assumes a fixed rate of 7.49% p.a. and does not allow for fees, charges or the specifics of your application.
Understanding Your Truck Loan Repayments
A handful of factors shape what you pay each week or month on a truck loan. Knowing how they work together makes it easier to choose a structure that suits your business and cash flow.
Interest rates for truck loans
Truck finance rates in Australia generally sit between around 6.55% and 15% p.a. The rate you are offered depends on a mix of factors, including:
- Your credit profile and business trading history
- The age and condition of the truck
- The loan amount and the size of any deposit
- The length of the loan term
- The finance structure you choose — chattel mortgage, commercial hire purchase or finance lease
Loan term considerations
The loan term you pick balances affordable repayments against the total cost of the finance:
Documentation provided will determine your rate. No financials falls under no doc and low doc applications, which are higher than full doc applications that provide full financials.
| Loan term | Advantages | Considerations |
|---|---|---|
| 1–3 years (short) | Less interest paid overall, and you build equity in the truck faster | Higher regular repayments and a bigger impact on day-to-day cash flow |
| 4–5 years (medium) | A balance between manageable repayments and total interest cost | The most popular choice for truck and equipment finance |
| 6–7 years (long) | The lowest regular repayments, which helps preserve working capital | More interest paid across the full life of the loan |
Low doc, lite doc and full doc
The documentation you provide also shapes your rate. Broadly, the more financial information you can supply, the sharper the pricing available:
| Documentation | Advantages | Considerations |
|---|---|---|
| Full doc | Full financials (tax returns and financial statements) provided — access to the sharpest rates and higher loan amounts | Requires up-to-date tax returns and financial statements |
| Lite doc | Some financial information provided without a complete set — rates that generally sit between full doc and low doc | May still require items such as BAS, bank statements or an accountant’s letter |
| Low doc | Little or no financials — assessed on alternative information, which suits self-employed applicants and newer ABNs | Rates are typically higher than full doc and a deposit may be required |
Indicative rate guide
Rates generally range from 6.55% p.a. to around 15% p.a. A starting point only — your actual rate depends on the asset, its age and kilometres, the finance term, any deposit, your ABN history and the credit assessment.
| Scenario | Indicative rate | Notes |
|---|---|---|
| New truck or trailer | from 6.55% p.a. | Strong ABN, clean credit, eligible asset |
| Late-model used truck | from 8.78% p.a. | Rate varies with asset age, kilometres and borrower profile |
| Older trucks | case by case | Trucks can be up to 25 years old at the end of the finance term |
| Older trailers | case by case | Trailers can be up to 30 years old at the end of the finance term |
| Low-doc (established ABN) | from 7.49% p.a. | No financials may be required for eligible applications, subject to lender limits |
| New-to-industry / new ABN | case by case | Deposit, additional documentation or security may be required |
Indicative rates only and subject to change. The rate available will depend on the lender, loan amount and term, asset type and age, business trading history, credit profile and other eligibility criteria. Fees and charges may apply. Finance is subject to lender approval and lending criteria. Overdrive Commercial Funding (ABN 87 659 049 895), authorised credit representative of Connective Credit Services Pty Ltd, Australian Credit Licence 389328.
Why balloon payments help
A residual at the end lowers your weekly repayment now, which suits operators who refresh trucks every few years. We’ll model it with you.
GST on the purchase
On a chattel mortgage you can generally claim the GST on the truck in your next BAS — the calculator works off the price you enter, so choose ex- or inc-GST consistently.
The rate you actually get
Depends on the asset age, term, deposit and your ABN history. See the indicative rate guide below.
Who qualifies for truck finance?
Most straightforward applications can be pre-approved the same day.
Active ABN
An active Australian Business Number registered for GST. Sole traders, owner-drivers, partnerships, companies and trusts can all apply.
2+ years trading (preferred)
Established operators get the widest choice of lenders and structures. Newer ABNs may still qualify — we assess every application individually.
Income-earning truck
The truck should be used for business and generate income. This covers owner-drivers, fleets, contractors, transport operators and construction businesses.
Clean credit history
A strong repayment history improves your rate and lender options. Bad credit or credit issues don't automatically disqualify you — we have options for most profiles.
Don't meet all of the above? Let us know your situation and we'll assess what options may be available.
Truck Finance Calculator — FAQs
Is this calculator an exact quote?
No. The calculator gives you a rough indicative figure to help with planning. It does not account for all lender fees, charges or your individual credit profile. Your actual rate and repayments are confirmed in a formal quote from the lender — which we arrange for free with no impact on your credit score.
What is a balloon payment and how does it affect my repayments?
A balloon (or residual) is a lump sum left at the end of the loan term. Including a balloon reduces your regular repayments because you're not paying down the full principal during the term. At the end you can pay it out, refinance it, or sell/trade the truck to cover it. The right balloon depends on your cash flow, how long you plan to keep the truck and the lender's policy.
What interest rate should I use in the calculator?
Truck finance rates in Australia generally range from around 6.55% to 15% p.a. depending on your credit profile, business history, the truck's age and the loan term. Try the mid-range (around 8–10%) as a planning figure if you're unsure. We'll confirm the actual rate in your free quote.
Can I finance a used truck?
Yes. We arrange finance for new and used trucks, including older and high-kilometre vehicles. The truck's age and condition influence which lenders and terms are available. Get a quote and we'll match the truck and your business to the most suitable lender on our panel.
Do I need a deposit to get truck finance?
Not always. Eligible established operators can often finance a truck with no deposit. A deposit or trade-in may improve your rate or widen your lender options. Your quote will confirm whether a deposit is required for your specific situation.
How long does approval take after using the calculator?
If you proceed to a formal quote, most straightforward applications are pre-approved within 24 hours. We match your application to the most suitable lenders from the outset to keep things moving. A soft check is completed first with no impact on your credit score.