To finance a courier van, you apply on your ABN for a chattel mortgage or lease secured against the vehicle, then repay over a term matched to your delivery income. New couriers and established operators alike can qualify, sometimes with low-doc options. Overdrive compares more than 80 banks and non-bank lenders on one application, helping courier drivers find affordable finance for a compact or high-roof van without visiting each lender individually.
Financing a van as a courier
Most courier drivers fund their van with a chattel mortgage, where the lender advances the purchase price and takes the van as security until the loan is repaid. You own the van throughout, which usually allows a claim for interest and depreciation on the business-use portion — confirm with your accountant. Because couriers cover high kilometres, matching the loan term to how long the van will realistically serve you matters. Terms typically run one to seven years, and a balloon payment can lower monthly repayments, though it leaves a lump sum due at the end. Both compact and high-roof cargo vans are commonly financed, new or used.
Finance for new courier contractors
Starting out with a fresh ABN does not rule you out. Some lenders accept newly registered couriers, particularly where you can show a signed contract or work agreement, relevant experience, a deposit or a clean credit history. A signed delivery contract with a courier network can strengthen your application. Rates may sit a little higher than for established operators, but a broker can identify which lenders are comfortable with newer ABNs and courier work specifically.
Choosing the right van and term
Couriers rack up kilometres quickly, so the van's reliability and running costs matter as much as the finance. A used van can reduce your repayments, though very high-kilometre vehicles may be priced higher or offered on shorter terms. Consider payload, roof height and access for your typical loads. Aligning the loan term with the van's expected working life helps you avoid paying off a van you have already retired.
Rates and keeping costs down
Courier van rates start from around 7.20% p.a. for strong, asset-backed deals, with lower-doc, older or cheaper vans and weaker credit priced higher — indicative and subject to lender assessment. Beyond the rate, compare fees, balloon flexibility and early-payout terms, since couriers sometimes upgrade often. For eligible applicants, same-day pre-approval and quick settlement may be available. Comparing lenders at once helps you protect thin per-delivery margins.
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