Key highlights
- Chattel mortgage lets builders own the ute across the term
- Predictable repayments suit staged progress payments
- Dual-cab suits carrying crew and materials
- One broker compares 80+ banks and non-bank lenders
- Obligation-free quote, soft check with no credit impact
For a builder, the ute is central to running the site, moving materials, tools and people between jobs. Financing it well keeps capital free for the parts of the business that need it. Here is how ute finance generally works for builders.
How does ute finance work for builders?
Builders often fund utes through a chattel mortgage, owning the vehicle while spreading the cost across the term. A dual-cab suits carrying a crew, while a single-cab with a tray handles loads. Trays, canopies and fit-outs can frequently be financed alongside the ute when they form part of the purchase.
How do repayments suit building cash flow?
Building income tends to arrive in stages tied to progress payments, so predictable repayments help with planning. Financing rather than buying outright keeps cash available for materials, subcontractors and the unexpected. Your accountant can advise on how the arrangement is treated for tax.
How do builders compare lenders?
Instead of approaching banks individually, a broker compares the market on your behalf. The Overdrive panel of more than 80 banks and non-bank lenders makes it easier to match a builder's circumstances to a lender likely to suit, with every application subject to assessment.
Simon and the team can prepare an obligation-free quote for your next work ute. The initial enquiry is a soft check with no impact on your credit score. Get in touch with Overdrive to talk it through.
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