Key highlights
- Funds cars, utes, vans, SUVs, 4WDs, trucks and buses
- Chattel mortgage, hire purchase and lease structures explained
- Eligibility weighs ABN age, GST status and credit history
- One broker compares 80+ lenders for your vehicle
- Obligation-free commercial finance quote available
Commercial vehicle finance covers the many ways Australian businesses fund the vehicles they rely on to operate. From a single work ute to a small fleet, the principles are similar even as the details vary. This guide gives you the big picture on vehicle types, finance structures and eligibility.
What does commercial vehicle finance cover?
Commercial vehicle finance applies to cars, utes, vans, SUVs, 4WDs, light commercial vehicles, light trucks and buses used for business purposes. Whatever the vehicle, the common thread is that it is put to work for your ABN, which is what makes it a commercial rather than personal purchase. That business purpose shapes the products and lenders available to you.
Common commercial vehicle finance structures
The main structures are chattel mortgage, hire purchase and lease, each handling ownership, repayments and end-of-term differently. The right choice depends on your entity type, accounting approach and how long you plan to keep the vehicle. Because these decisions have tax and GST implications, your accountant or registered tax adviser is the right person to confirm what suits you.
Who is eligible for commercial vehicle finance?
Lenders assess your ABN registration period, GST status, credit history and the vehicle itself. With 80-plus lenders in the market, offers can differ significantly, so comparing rather than settling for the first option can be worthwhile. All approvals are subject to lender criteria.
How do you get a commercial finance quote?
Overdrive brings the market to you through one broker, Simon Kendrick, comparing 80-plus lenders for your commercial vehicle. Request an obligation-free quote today. It is a soft check that won't affect your credit score.
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Free quote in minutes, decisions in 24–48 hours. No credit-score impact to enquire.