New Business Vehicle Finance

New business vehicle finance allows Australian businesses and ABN holders to purchase a new vehicle without paying the full purchase price upfront. The vehicle is financed over an agreed term, with repayments structured around your business, cash flow and the vehicle you're purchasing.

New vehicle finance rates depend on your business history, credit profile, vehicle, amount financed, loan term and documentation. New vehicles can often attract competitive lender pricing because of their age and value. We compare suitable options across 80+ lenders and negotiate pricing where available to help secure a competitive overall deal.

We arrange finance for new business cars, company cars, utes, vans, SUVs, 4WDs, light commercial vehicles, delivery vehicles, light trucks, minibuses, buses and specialised business vehicles.

Eligible Australian ABN holders can apply, including sole traders, self-employed applicants, contractors, partnerships, companies and trusts. Your available options will depend on your business history, credit profile, vehicle and borrowing requirements.

Potentially. Some lenders offer streamlined finance to eligible ABN holders. Your ABN and GST history, business activity, turnover, credit profile and vehicle may be considered when assessing your application.

Yes. Self-employed applicants and sole traders can apply for new business vehicle finance. Depending on your circumstances, low-doc or streamlined options may be available without requiring a complete set of financial statements.

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

Potentially. No-deposit and 100% vehicle finance may be available to eligible applicants, allowing you to preserve working capital rather than using business cash for a large upfront deposit.

Yes, subject to eligibility. Low-doc and lite-doc business vehicle finance up to $500,000 may be available, potentially reducing the financial documentation required compared with a traditional full-doc application.

Potentially. Eligible applicants may qualify without providing full financial statements or tax returns. Depending on the lender, your application may instead be assessed using your ABN and GST history, business bank statements, BAS, turnover, accountant information and credit profile.

Requirements vary between lenders. You may need identification, ABN or company details and a vehicle quote or dealer invoice. Depending on the application, business bank statements, BAS, financial statements, tax returns or other supporting information may also be required.

Borrowing capacity depends on the vehicle purchase price, business turnover, trading history, existing commitments, credit profile and ability to service the finance. We can assist with everything from a single business vehicle through to multiple vehicles and fleet purchases.

Finance terms of up to 7 years may be available to eligible applicants, subject to lender criteria. The right term depends on the vehicle, your business cash flow and how you want to structure your repayments.

It depends on your cash flow and how quickly you want to repay the finance. A 5-year term generally means higher regular repayments but less interest over the life of the finance. A 7-year term can reduce regular repayments but generally increases the total interest paid.

Yes, subject to lender criteria. A balloon leaves an agreed amount outstanding at the end of the finance term, which can reduce your regular repayments. The remaining balloon will need to be dealt with at the end of the agreement.

Potentially. Previous credit issues don't automatically prevent approval. Your current business performance, the nature and age of the credit issues, vehicle and overall application will influence the lenders, rates and terms available.

Same-day pre-approvals and approvals may be available for eligible applicants, with many straightforward applications completed within 24 to 48 hours once the required information has been supplied.

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

Potentially. Eligible businesses may be able to finance 100% of the vehicle purchase price with no deposit, subject to lender criteria and credit approval.

Potentially. Eligible accessories, modifications and permanently fitted equipment may be included in the vehicle finance. This can include service bodies, shelving, refrigeration, accessibility modifications and other business-related vehicle fit-outs, subject to lender criteria.

Yes. We can arrange finance for multiple vehicles and business fleets, including cars, utes, vans, SUVs, 4WDs, light commercial vehicles, light trucks, minibuses and buses, subject to borrowing capacity and lender approval.

Depending on your circumstances, vehicle finance may be structured as a chattel mortgage, commercial hire purchase, finance lease, rent-to-own arrangement or another commercial vehicle finance facility.

A chattel mortgage is a common form of business vehicle finance where your business generally takes ownership of the vehicle from the beginning and the lender takes security over it until the finance has been repaid.

The main differences relate to vehicle ownership, repayment structure and what happens at the end of the agreement. Tax and accounting treatment can also differ, so you should speak with your accountant or tax adviser about which structure is appropriate for your circumstances.

Generally, the vehicle itself provides the primary security for asset-backed business vehicle finance, meaning residential or commercial property security may not be required. Additional security can still be requested in some circumstances.

Potentially. GST credits, depreciation and other deductions depend on factors including your GST registration, business use, vehicle and finance structure. You should confirm the tax treatment that applies to your circumstances with your accountant or registered tax adviser.

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

Yes. If you've already received a dealership finance quote, Simon can compare the rate, fees, repayments, term, balloon and overall cost against suitable options across our lender panel. We regularly compete with dealership, bank and other broker quotes and negotiate for sharper pricing where available.

Different lenders can price the same vehicle and business very differently. Simon compares suitable options across our panel of 80+ lenders, looking beyond the headline rate at fees, repayments, terms and balloon structures. He can then negotiate directly with suitable lenders to push for sharper pricing and better terms where available.

Using a broker gives you access to more options than approaching a single bank or accepting dealership finance. At Overdrive Vehicle Finance, you deal directly with Simon Kendrick, Managing Director, who compares your application across our panel of 80+ lenders, negotiates rates and terms on your behalf and manages your finance from application through to settlement. With decades of commercial finance experience, Simon understands which lenders are suited to different vehicles, business structures and financial circumstances, helping position your application with lenders that are more likely to suit your requirements.

You deal directly with Simon Kendrick, Managing Director, from your first enquiry through to approval and settlement. Simon personally manages the lender comparison, negotiations and application process. There are no call centres, no handovers and no being passed between different brokers.

Yes. Our business vehicle finance comparison service is 100% free to you, with no obligation to proceed. Simon compares suitable options across our lender panel and manages the finance process through to settlement.

You get one experienced broker with access to 80+ lenders rather than being restricted to one bank or dealership finance provider. Simon manages the entire transaction personally, from comparing lenders and negotiating pricing through to approval and settlement. And when it's time for your next business vehicle, you come back to the same broker who already understands your business.