Truck Refinance
Need a truck loan? Whether you're buying a new or used truck, upgrading or growing your fleet, we work hard to deliver the cheapest deal. We're known for delivering sharper rates than banks, dealerships and other brokers, with a loan strategically structured around your business.
Who We Help
Owner-drivers buying their first truck
Fleet operators replacing units
Operators who've won a new contract
Refinancing an existing truck loan
Truck Refinance: Lower Repayments, Better Rates & Flexible Terms
Already have truck loans but think you're paying too much? We help Australian businesses refinance existing truck loans to access more competitive rates, lower repayments or a loans structure better suited to their current business and cash flow.
As a specialist commercial loans broker, we work with owner drivers, sole traders, contractors, transport companies and fleet operators across Australia. We compare truck refinance options across a broad panel of banks, non-bank lenders and specialist commercial lenders.
What Is Truck Refinance?
Truck refinancing involves replacing an existing truck loans facility with a new commercial loans arrangement. The new lender generally pays out the existing truck loan, and you begin making repayments under the new loans agreement.
Businesses may refinance to obtain a more competitive interest rate, lower regular repayments, a different loan term, a different balloon structure, improved cash flow, a more suitable lender, or consolidation or restructuring of eligible business debt.
Can I Get a Better Rate by Refinancing My Truck?
If your business or credit profile has improved since you originally financed the truck, you may now qualify for more competitive lender pricing. This can be particularly relevant if you originally financed your truck when your business was newer, had limited financials or had a weaker credit profile.
Already have your current loans contract or payout figure? Send it through and we'll compare it against available refinance options.
Refinance Your Truck to Lower Repayments
Depending on your current loans and the new loan available, refinancing may allow you to reduce your regular truck repayments. A lower repayment doesn't always mean a cheaper loan overall, particularly if the loans term is extended.
That's why we compare the rate, repayments, fees, term, balloon and total amount payable before determining whether refinancing makes financial sense.
Refinance a Truck Balloon Payment
Have a large balloon payment approaching at the end of your current truck loan? You may be able to refinance the outstanding balloon rather than paying the entire amount from business cash flow.
Release Equity When Refinancing a Truck
Own your truck outright or owe significantly less than the truck is worth? Depending on the lender and your circumstances, you may be able to release some of the available equity in your truck for approved business purposes.
Released funds may potentially be used for working capital, another truck or trailer, equipment, business growth or other approved business purposes, subject to lender criteria.
Refinance Multiple Trucks
Operating a fleet with several existing truck loans? We can assess truck refinancing across multiple vehicles to determine whether your existing loans can be restructured more effectively.
Low Doc Truck Refinance
Depending on your circumstances, low doc, lite doc or reduced-documentation truck refinance options may be available for eligible applicants.
Bad Credit Truck Refinance
Specialist lenders may consider truck refinancing for businesses with adverse credit, depending on the circumstances. Defaults, arrears or other credit issues don't automatically mean there are no options available, but they can affect the rates, terms and lenders available.
Should I Refinance My Truck Loan?
Before refinancing, we compare your existing facility against the proposed new loans, including current and new interest rates, payout amount, repayments, early payout or termination costs, lender fees, remaining and proposed loan terms, and total amount payable.
This helps determine whether refinancing actually improves your position rather than simply producing a lower monthly repayment.
Compare Truck Refinance Rates
Already have your existing truck loans details? Send us your current loan statement, payout figure or loans contract, and we'll compare it against suitable truck refinance options available through our lender panel.
Our truck loans comparison service is free. If the existing deal is better than the refinance options available, there's no reason to change it.
Get a Truck Refinance Quote
Whether you want to reduce your repayments, secure a better rate, refinance an upcoming balloon, restructure existing loans or unlock available equity, we'll help you compare suitable truck refinance options.
One application. Competitive refinance options across Australia. One dedicated broker from assessment through to settlement. No handovers. No call centres.
Why get a loan with Overdrive Truck Finance
Free service with no upfront costs or hidden fees.
Overdrive is a specialist truck finance broker comparing 80+ banks and non-bank lenders on one application. Explore truck finance across every truck and trailer type, or get a free quote in minutes.
Truck Loan Solutions
Whatever your situation, there's a loans structure to suit — we'll match you to the right one for your business.
Trucks We Finance
Kenworth
T-Series, K-Series, C-Series
Isuzu
N-Series, F-Series, Giga
Hino
300 Series, 500 Series, 700 Series
Volvo
FH, FM, FMX
Mack
Anthem, Super-Liner, Trident
Fuso
Canter, Fighter, Shogun
Plus Scania, DAF, Iveco, Mercedes-Benz, Western Star, UD and more.
Low Doc, Light Doc & Full Doc Truck Finance
When applying for truck finance, lenders will generally offer Low Doc, Light Doc or Full Doc options. The right choice depends on your business structure, trading history, and the type of truck you're purchasing.
| Feature | Low Doc Truck Finance | Light Doc Truck Finance | Full Doc Truck Finance |
|---|---|---|---|
| Financial Statements Required | No | No | Yes |
| BAS Statements Required | No | Usually | Sometimes |
| Business Bank Statements | No | Yes | Sometimes |
| Approval Speed | Fastest | Fast | Standard |
| Interest Rates | Higher | Competitive | Most Competitive |
| Borrowing Capacity | Up to $500k | Up to $500k | Up to $10m+ |
| Ideal Outcome | Quick approval with minimal paperwork | Balance of flexibility and pricing | Best pricing and maximum borrowing power |
Which Option Is Right For You?
Need help deciding? Our finance specialists will assess your circumstances and recommend the most suitable asset finance solution for your business.
| If You Are… | Recommended Option |
|---|---|
| Self-employed or businesses with limited financial records | Low Doc |
| Businesses with bank statements and BAS available | Light Doc |
| Businesses with full financials | Full Doc |
Low Doc Truck Finance
Low Doc finance is designed for borrowers who want a simple, streamlined approval process. In most cases, no financial statements or BAS statements are required. Approval is generally based on your ABN history, credit profile, and the asset being financed.
Light Doc Truck Finance
Light Doc finance provides a middle ground between Low Doc and Full Doc lending. Borrowers can often qualify using recent business bank statements and limited supporting documentation, without the need for full financial accounts.
Full Doc Truck Finance
Full Doc finance is suitable for borrowers who can provide complete financial records and supporting documentation. This option typically offers the most competitive rates and highest borrowing capacity.
Truck Refinance — frequently asked questions
Can I get a loan on a new or used truck refinance?
Yes — we arrange new and used truck refinance loans bought from dealers, private sellers or at auction, with the rate and term matched to the asset.
What interest rate will I get on a truck loan?
Rates start from 6.55% p.a. for a strong, asset-backed truck loan and move up with the age of the truck, the term, any deposit and your credit profile. Because we compare a panel of lenders on one application, we quote the sharpest rate you actually qualify for rather than a single bank's rate card.
Can I get a truck loan without financials (low-doc)?
Yes. For an eligible loan under a lender limit we can arrange a low-doc truck loan with no tax returns or BAS, on the strength of your ABN age, GST registration and clean credit. It typically needs a 2+ year ABN and sits slightly above a full-doc rate.
Who can apply for a truck loan?
ABN holders — sole traders, partnerships and companies. Commercial lending to ABN holders sits largely outside consumer credit rules, which usually means a faster, simpler process than a personal loan.
Does enquiring about a truck loan affect my credit score?
No. The initial enquiry is a soft check only and does not affect your credit score. We only lodge a formal loan application to a lender once you have seen the numbers and told us to proceed.
Do I need a deposit for a truck loan?
Not always. $0-deposit truck loans are available for eligible deals, subject to assessment. A deposit or trade-in can help with a newer ABN or an older asset, and it lowers the amount borrowed and your repayments.
What loan terms are available?
Truck loan terms typically run from 1 to 7 years. A longer term lowers the repayment but costs more interest overall; a shorter term costs less interest but repays faster. We help you balance cash flow against total cost.
Can I get a loan on a new or used truck?
Both. We arrange loans for new trucks (dealer stock and factory orders) and used trucks bought from a dealer, at auction or from a private seller. On a used truck, its age, kilometres and condition can affect the rate and term.
Can I buy from a private seller or at auction with a truck loan?
Yes. For a private sale the lender verifies ownership and checks the truck is clear of existing finance (a PPSR check) before releasing the loan funds. We manage that process with you.
How does a balloon or residual work on a truck loan?
A balloon (or residual) is a lump sum set aside to the end of the term. It lowers your regular repayments now, which suits operators who refresh trucks every few years — you pay it out, refinance it, or trade in at term end.
How quickly can a truck loan be approved?
For a straightforward, asset-backed truck loan we can often come back with an indicative answer the same business day, with conditional approval frequently inside 24 hours, and settlement within a few days once documents are in.
Truck loans by type
What Our Clients Say
★★★★★ 5.0 / 5 based on our Google reviews
Ready to get started?
Free quote in minutes, decisions in 24–48 hours. No obligation, no credit-score impact to enquire.