Key highlights
- No-deposit / 100% finance may be available for eligible applicants
- Keeps cash working in the business
- Often more accessible to established, proven businesses
- No deposit usually means borrowing more overall
- One broker checks no-deposit options across 80+ lenders
Holding onto cash while still getting a work truck on the road is a common goal. No-deposit light truck finance may be possible for some businesses, and this post explains how it typically works.
What is no-deposit truck finance?
No-deposit finance means the lender funds the full purchase price of the light truck without requiring an upfront contribution. This can help preserve working capital for fuel, wages and other running costs. Availability depends heavily on the applicant's profile and the asset, and it is always subject to lender criteria rather than guaranteed.
Who qualifies for no-deposit truck finance?
No-deposit options are often more accessible to established businesses with a solid trading and repayment history, though some lenders consider newer ABNs on a case-by-case basis. The type and age of the truck matter too, since lenders assess how well the asset holds its value. A tidy near-new pantech may be viewed differently to an older tipper.
What are the downsides of no deposit?
Putting in no deposit usually means borrowing more, which can mean higher repayments over the term. That may still suit a business that would rather keep cash available. Consider the total cost, and check any tax implications with your accountant or registered tax adviser.
How to check no-deposit truck options
Simon Kendrick at Overdrive can check no-deposit light truck options across 80-plus lenders for your situation. Request an obligation-free quote. The soft check involved has no impact on your credit score.
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