A dual cab ute is financed like other work vehicles, usually with a chattel mortgage on your ABN, secured against the vehicle and repaid over a term that suits your cash flow. Because dual cabs carry passengers as well as loads, tax treatment can differ, so records matter. Overdrive compares more than 80 banks and non-bank lenders in one application, helping tradies and businesses finance a new or used dual cab on competitive terms.
Financing a dual cab ute
Dual cab utes are among the most popular work vehicles in Australia, combining a five-seat cabin with a load tray. You typically finance one with a chattel mortgage, where the lender advances the price and holds the ute as security until the loan is repaid, while you own it from the start. That usually allows a claim for interest and depreciation on the business-use portion — confirm with your accountant. Terms typically run one to seven years, and a balloon payment can reduce monthly repayments. Both new and used dual cabs finance readily, and accessories can often be bundled into the same loan.
Passenger capacity and tax treatment
Because a dual cab seats five and carries loads, the tax treatment can differ from a single-cab work ute. Some dual cabs may be treated as passenger vehicles and subject to a depreciation cost limit, while others with higher payloads may be treated differently. The distinction depends on the specific model's payload and how you use it. This is exactly the kind of detail your accountant can clarify, so keep a logbook of business use and confirm your entitlements before relying on any claim.
Fitting out your dual cab
Dual cabs are often fitted with canopies, tubs, ladder racks, drawers and toolboxes to suit the trade. Many lenders will finance reasonable accessories in the same loan when they form part of the purchase and the total is supported by the deal, saving you separate arrangements. If you buy an already-fitted dual cab, the complete package is assessed together. A broker can find lenders comfortable funding the vehicle and fit-out as one deal.
Rates and choosing a term
Dual cab finance starts from around 7.20% p.a. for strong, asset-backed deals, with lower-doc, older or cheaper utes and weaker credit priced higher — indicative and subject to lender assessment. Match the term to how long you plan to keep the ute, and weigh a balloon payment against total interest. Comparing lenders at once lets you balance rate, fees and flexibility instead of settling for the first offer you come across.
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