Business Vehicle Finance Australia — Compare Best Rates & Deals

Business vehicle finance allows you to purchase a new or used vehicle for your business without paying the full purchase price upfront. A lender funds the purchase, and you repay the amount over an agreed term through regular repayments. The process generally starts by looking at the vehicle you want to buy, your business profile, credit history and preferred finance structure. We then compare options across 80+ lenders to find a competitive rate and repayment structure for your circumstances. Depending on the lender and your situation, you may be able to choose your loan term, include a balloon or residual payment and finance the vehicle with or without a deposit. Once you're happy with the proposed finance and give us the go-ahead, we submit the application to the selected lender. This is when a formal credit enquiry may be made. Once approved and the finance documents are signed, the lender pays the seller and settlement takes place.

We arrange finance for a wide range of business vehicles, including cars, utes, vans, SUVs, 4WDs, light commercial vehicles, light trucks, delivery vehicles, company cars, buses, minibuses and specialised business vehicles. Vehicles can be new or used and purchased through dealerships, private sellers or eligible auctions.

Potentially. Some lenders offer streamlined finance to established ABN holders without requiring full financial statements or tax returns. Eligibility can depend on your ABN and GST history, business turnover, credit profile, vehicle, loan amount and overall circumstances.

Yes. We arrange finance for both new and used business vehicles. The vehicle's age, condition, value and intended business use can influence which lenders and loan terms are available.

Business vehicle finance rates vary depending on your credit profile, business history, vehicle age, loan amount, finance term and documentation. Rather than relying on one advertised rate, we compare suitable options across 80+ lenders and negotiate pricing where available to help secure a competitive rate and overall finance structure.

Business vehicle finance terms are generally available from 1 to 7 years, subject to the vehicle, its age, finance product and lender criteria. A shorter term generally means higher repayments but less interest over the life of the finance. A longer term can reduce regular repayments but may increase the total interest paid.

The amount you can borrow depends on the vehicle purchase price, business turnover, cash flow, existing commitments, credit profile and ability to service the finance. We can assist with everything from a single business car, ute or van through to multiple vehicles and fleet purchases.

Not necessarily. No-deposit and 100% vehicle finance may be available to eligible businesses. Whether a deposit is required depends on your business, credit profile, vehicle, purchase price and lender criteria.

Yes. Business vehicle finance can generally be structured as a standalone facility rather than being combined with your existing business loans or property finance. This can make it easier to match the finance term and repayments to the vehicle being purchased.

Yes, subject to lender requirements. We can arrange finance for eligible vehicles purchased through dealerships, private sellers and auctions. Private sales and auction purchases may require additional vehicle, ownership and seller checks before settlement.

Potentially. No-doc, low-doc, lite-doc and streamlined vehicle finance options up to $500,000 may be available for eligible applicants. Depending on your circumstances, lenders may assess your application using your ABN and GST history, business bank statements, BAS, credit profile and other supporting information instead of requiring full financial statements and tax returns.

Potentially. Previous credit issues don't automatically prevent you from obtaining business vehicle finance. The nature and age of the credit issues, current business performance, repayment history, vehicle and amount being financed can all affect the lenders, rates and terms available.

A balloon is an agreed amount left outstanding at the end of the finance term. Because you're not repaying the entire amount through your regular repayments, including a balloon can reduce your repayments during the term. At the end of the agreement, the balloon must generally be paid, refinanced or otherwise dealt with according to the finance contract. A larger balloon can mean lower regular repayments but a larger amount remaining at the end.

Potentially, depending on the finance structure, your GST registration and how the vehicle is used. The GST, depreciation and tax treatment can differ between a chattel mortgage, commercial hire purchase, finance lease and other finance structures. You should obtain advice from your accountant or registered tax adviser about the treatment that applies to your circumstances.

Straightforward applications may receive same-day pre-approval or approval, with many eligible applications completed within 24 to 48 hours once all required information has been provided. More complex applications may take longer depending on the vehicle, purchase method, documentation and lender requirements.

Getting an initial quote with Overdrive does not require an upfront credit check. Where available, we can compare and assess suitable options before submitting a formal credit application. A formal credit enquiry may be made once you decide to proceed and an application is submitted to the selected lender.

We assist eligible Australian ABN holders, sole traders, self-employed applicants, contractors, partnerships, companies and trusts. Whether you're purchasing your first business vehicle or expanding an established fleet, we can assess suitable finance options based on your circumstances.

Different lenders can offer significantly different pricing for the same business and vehicle. We compare suitable options across 80+ lenders, looking at the interest rate, fees, repayments, term, balloon and overall finance structure rather than simply accepting the first offer available. If you already have a bank, dealership or broker quote, we can also compare it against the options available through our lender panel.

Yes. Self-employed applicants and sole traders can apply for business vehicle finance. Depending on your ABN history and circumstances, you may also qualify for low-doc or streamlined finance without providing a complete set of financial statements.

Potentially. Some lenders consider new ABNs and recently established businesses. Your previous industry experience, credit profile, current business activity, vehicle being purchased, deposit or contribution and ability to service the finance can influence the options available.

Potentially. Eligible modifications and permanently fitted equipment may be included in the overall vehicle finance package, depending on the vehicle, modifications and lender. This can include certain service bodies, shelving, refrigeration, accessibility modifications, specialised fit-outs and other business-related vehicle modifications.

You may be able to trade in or sell the existing vehicle and use the proceeds to pay out the current finance. If the payout is higher than the vehicle's trade-in or sale value, there will be a shortfall that needs to be addressed. Depending on the circumstances and lender criteria, there may be options for structuring the replacement vehicle finance around the transaction.

It depends on your cash flow, the age and expected useful life of the vehicle and how quickly you want to repay the debt. A 5-year term generally results in higher repayments but can reduce the total interest paid. A 7-year term can reduce regular repayments and preserve business cash flow but generally results in more interest being paid over the life of the finance. We can compare different terms, repayments and balloon structures so you can see the difference before deciding.

Yes, subject to eligibility. Pre-approval can give you an indication of your available finance before you choose a vehicle, helping you understand your budget and negotiate with greater certainty.

Potentially. Business vehicle refinancing may allow you to seek a more competitive rate, change your repayment structure, adjust your loan term or move an existing facility to another lender. We can compare your current finance against suitable alternatives to determine whether refinancing makes commercial sense.

Yes. We can arrange finance for individual vehicles, multiple vehicles purchased together and business vehicle fleets. This can include combinations of cars, utes, vans, SUVs, 4WDs, light trucks, buses and other eligible commercial vehicles.

Depending on your business and vehicle, finance may be structured as a chattel mortgage, commercial hire purchase, finance lease, rent-to-own arrangement or another commercial vehicle finance facility. The most suitable structure depends on your cash flow, ownership requirements and financial circumstances.