Business Van Finance Broker

Key highlights

• One application compared across 80+ banks and non-bank lenders
• Cargo, panel, crew and delivery vans are all covered
• Chattel mortgage may free up GST and depreciation claims
• No-deposit options available for eligible applicants and strong deals

Vans are working assets, and finance should reflect that

A van rarely sits idle; it carries stock, tools or deliveries and racks up kilometres week after week. Finance built around business use recognises that, treating the van as an income-earning asset rather than a private car. That framing lets you use commercial structures a personal loan simply cannot offer, and it lets lenders price the deal on your trading strength instead of a retail grid. A broker makes sure the van is funded on those terms, so your repayments, tax treatment and cash flow all line up with how the vehicle actually earns its keep across a busy working week rather than working against you.

How van finance is structured

Most business vans are financed with a chattel mortgage: your business owns the van outright and the lender takes security over it. You may then claim depreciation and interest, and often the GST on the purchase price, according to your business use percentage. Finance lease and commercial hire purchase suit operators who prefer a fixed off-balance-sheet arrangement or a set residual at term end. Each option has different accounting effects, so treat this as general guidance and check with your accountant to confirm which structure gives your business the best after-tax result before you commit to a particular product or term length.

Rates, terms and residuals

Van finance rates start from around 6.55% p.a. for strong, asset-backed deals; lower-doc applications, older or cheaper vans and weaker credit are priced higher, and all figures are indicative and subject to lender assessment. Terms usually run one to seven years, and a balloon or residual can cut monthly repayments if you plan to upgrade at term end. Vans tend to hold reasonable resale value, which lenders view favourably as security, and a broker uses that to argue for sharper pricing when presenting your application to the right funder rather than accepting the first number a single bank puts forward.

Fit-outs, shelving and upfits

Many trade and delivery vans need racking, shelving, refrigeration or signage before they can actually work. In many cases these fit-out costs can be bundled into the finance, so you fund the van and its kit in one facility rather than paying for the upfit out of pocket separately. Not every lender allows this, and there are limits, so it pays to raise it early in the conversation. A broker knows which lenders will finance a completed, work-ready van, saving you from a separate loan or a cash-flow hit on the very tools and fit-out that make the van useful to your business.

Approval and settlement speed

A tidy application settles fast. Gather your ABN, recent bank statements and the van's details, and established businesses may qualify for a low-doc path with minimal paperwork required. Same-day pre-approval and 24 to 48 hour settlement may be available for eligible applicants, subject to lender criteria. Because Overdrive sends your file to the lender most likely to approve and move quickly, you skip the trial-and-error of applying to one bank at a time and waiting on each verdict. That gets the van on the road sooner and keeps your deliveries or jobs running without an awkward gap.

Need a van on the road without the runaround? Talk to Simon Kendrick at Overdrive for a free, no-obligation quote. One application, 80+ lenders compared, and the fit-out sorted in the same facility where possible, so your van turns up work-ready and your cash stays in the business. Get your free quote today.