Key highlights
- Finance city, cargo, delivery vans and people-movers
- Preserve working capital while getting the right van
- Chattel mortgage, hire purchase or lease structures
- Approval weighs ABN age, GST, credit and van age
- 80+ lenders compared through one broker
Vans are the workhorses of countless Australian businesses, from couriers and tradies to florists and mobile services. Financing one through your ABN can help you preserve working capital while getting the right vehicle on the road. Here is an overview of how business van finance typically works.
What vans can you finance?
The van category spans compact city vans, mid-size cargo vans, larger delivery vans and people-movers used for passenger transport. Whether you need load space for deliveries, seating for a crew, or a mobile base for on-site work, there is generally a finance option to suit. Because vans are clearly commercial in purpose, they often sit comfortably within business vehicle finance products.
How is van finance structured?
Van finance is commonly arranged as a chattel mortgage, hire purchase or lease, with terms that can be tailored to your cash flow. If your van will carry fit-outs such as shelving, racking or a refrigeration unit, those may sometimes be included in the finance for eligible applicants. Any GST or depreciation questions are best directed to your accountant or registered tax adviser.
What affects van finance approval?
Lenders weigh factors such as your ABN age, GST status, credit profile and the age of the van. New and near-new vans are often straightforward, while older vehicles may have different terms. Options exist across a range of business profiles, all subject to lender criteria.
How do you get a van finance quote?
Overdrive compares 80-plus lenders through one broker, Simon Kendrick, to find van 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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