Key highlights
- Light and medium-duty trucks for growing businesses
- Chattel mortgage, hire purchase or lease structures
- Terms tailored to cash flow and how long you keep it
- 80+ banks and non-bank lenders compared by one broker
- Request an obligation-free truck finance quote
Growing businesses often reach a point where a truck becomes the practical next step for moving goods and gear. Light and medium-duty trucks give you that extra capacity while remaining manageable to operate and finance. Here is how business truck finance works for these classes of vehicle.
Light or medium-duty truck?
Light-duty trucks suit local deliveries and trade work, while medium-duty trucks step up the payload for businesses moving larger or heavier loads across a region. Both can be fitted with a variety of bodies, from trays and pantechs to tippers and refrigerated units. They serve a clear business purpose, which helps when arranging finance.
How do you structure truck finance?
Truck finance is commonly arranged as a chattel mortgage, hire purchase or lease, with terms tailored to your cash flow and how long you plan to keep the vehicle. The body and any specialised equipment may sometimes be included in the finance for eligible applicants. For tax, GST and depreciation, check with your accountant or registered tax adviser.
What do lenders assess for truck finance?
Expect lenders to consider your ABN age, GST registration, credit profile and the truck's age, kilometres and configuration. With many lenders active in this space, the same application may suit some better than others, so comparison helps. All finance remains subject to lender criteria and nothing is guaranteed.
How do you compare truck finance?
Through one broker, Simon Kendrick, Overdrive compares 80-plus banks and non-bank lenders to find truck finance that may suit your business. Request an obligation-free quote today. It is a soft check that won't affect your credit score.
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