Key highlights
- Chattel mortgage, hire purchase or lease structures compared
- Indicative rates from around 6.55% p.a. for eligible applicants
- Rate reflects vehicle age, term, deposit and credit profile
- Eligibility weighs ABN period, GST and vehicle purpose
- One broker compares lenders, obligation-free quote
Financing a car through your business involves a few more choices than a personal car loan, but those choices can work in your favour. From the loan structure you pick to the factors that shape your rate, understanding the moving parts helps you make a confident decision. This overview covers structures, rates and eligibility for business car finance.
How do you choose a finance structure?
Business car finance is commonly arranged as a chattel mortgage, hire purchase or lease. A chattel mortgage often suits businesses that want to own the car outright, while leasing may appeal to those who prefer predictable payments and regular upgrades. The best structure depends on your entity, cash flow and how the car is used, and any tax or GST implications should be confirmed with your accountant or registered tax adviser.
How are business car finance rates set?
Your rate reflects factors such as the vehicle age, loan term, deposit, and your business and credit profile. Indicative rates from around 6.55% p.a. may be available to eligible applicants, though the actual rate offered is always subject to lender criteria. Because 80-plus lenders price differently, comparing options can make a meaningful difference.
Who is eligible for business car finance?
Lenders typically look at your ABN registration period, GST status, credit history and the purpose of the vehicle. A strong, tidy application generally helps, but even businesses with a shorter history or a few blemishes may find suitable options. Nothing is guaranteed, and every application is assessed on its own merits.
How do you compare car finance?
Rather than approaching lenders one by one, let Overdrive compare them for you through a single broker, Simon Kendrick. Request an obligation-free quote to see indicative options for your business car. It is a soft check that won't affect your credit score.
Ready to compare cheap rates?
Free quote in minutes, decisions in 24–48 hours. No credit-score impact to enquire.