Repayment Calculator
How much will the truck or trailer finance cost you?
Use our simple truck finance calculator to set the price, deposit, term and balloon for an indicative repayment. It's a guide to get you in the ballpark — the real number comes back once we've matched your deal to the right lender.
Truck and Trailer Finance Calculator
Use our free online truck finance calculator to estimate monthly loan repayments and compare interest rates, loan terms and balloon payments. Simply enter your loan amount, interest rate, repayment term and balloon amount to calculate your estimated truck finance repayments in seconds.
Loan term
Balloon / residual
Repayment frequency
Your indicative repayment
$3,005/month
≈ $692/week
7.49% p.a. · 5 years · 0% balloon
Loan principal: $150,000
Ready to see your true rate?
This is indicative at 7.49% p.a. Your actual rate depends on the truck, your ABN history and credit profile. Get a personalised quote — no credit impact, no obligation.
Indicative only. Does not represent an offer of credit. Assumes 7.49% p.a. fixed, secured loan for business use. Does not include fees, charges or individual circumstances. Actual rate subject to lender criteria and credit assessment.
Understanding Your Truck Loan Repayments
Use the guide below to understand how different factors affect your truck finance repayments.
Interest rates for truck loans
Truck finance rates in Australia generally sit between around 7.20% and 10% p.a. The rate you are offered depends on a mix of factors:
- Your credit profile and business trading history
- The age and condition of the truck
- The loan amount and the size of any deposit
- The length of the loan term
- The finance structure — chattel mortgage, commercial hire purchase or finance lease
Loan term considerations
The loan term you pick balances affordable repayments against the total cost of the finance.
| Loan term | Advantages | Considerations |
|---|---|---|
| 1–3 years (short) | Less interest paid overall, build equity faster | Higher regular repayments — bigger impact on day-to-day cash flow |
| 4–5 years (medium) | Balance between manageable repayments and total interest cost | Most popular choice for truck and equipment finance |
| 6–7 years (long) | Lowest regular repayments — helps preserve working capital | More interest paid across the full life of the loan |
Low doc, lite doc and full doc
The documentation you provide shapes your rate. The more financial information you can supply, the sharper the pricing available.
| Documentation | Advantages | Considerations |
|---|---|---|
| Full doc | Full financials provided — sharpest rates and highest loan amounts | Requires up-to-date tax returns and financial statements |
| Lite doc | Some financials provided — rates between full doc and low doc | May still require BAS, bank statements or an accountant's letter |
| Low doc | Little or no financials — suits self-employed and newer ABNs | Rates are typically higher than full doc; a deposit may be required |
Indicative rate guide
Rates generally range from 7.20% p.a. to around 15% p.a. A starting point only — your actual rate depends on the asset, its age and kilometres, the finance term, any deposit, your ABN history and the credit assessment.
| Scenario | Indicative rate | Notes |
|---|---|---|
| New truck or trailer | from 7.20% p.a. | Strong ABN, clean credit, eligible asset |
| Late-model used truck | from 8.78% p.a. | Varies with asset age, kilometres and borrower profile |
| Older trucks | case by case | Trucks up to 25 years old at end of finance term |
| Older trailers | case by case | Trailers up to 30 years old at end of finance term |
| Low-doc (established ABN) | from 7.49% p.a. | No financials required for eligible applications, subject to lender limits |
| New-to-industry / new ABN | case by case | Deposit, additional documentation or security may be required |
Indicative rates only and subject to change. The rate available will depend on the lender, loan amount and term, asset type and age, business trading history, credit profile and other eligibility criteria. Fees and charges may apply. Finance is subject to lender approval and lending criteria. Overdrive Commercial Funding (ABN 87 659 049 895), authorised credit representative of Connective Credit Services Pty Ltd (Australian Credit Licence 389328).
Why balloon payments help
A residual at the end lowers your regular repayment now, which suits operators who refresh trucks every few years. At the end of the term you can pay out the balloon, refinance it, or trade the truck and roll into a new deal. We'll model the right structure with you.
GST on the purchase
On a chattel mortgage you can generally claim the GST on the truck purchase in your next BAS statement — the calculator works off the price you enter, so enter either ex-GST or inc-GST consistently and check with your accountant which applies to your situation.
The rate you actually get
The calculator uses an indicative rate of 7.49% p.a. Your real rate depends on the asset age, loan term, deposit and your ABN history. See the indicative rate guide above, or get a personalised quote — no credit impact, no obligation.
Frequently Asked Questions
Common questions about truck finance and how repayments are calculated.
How does the truck finance calculator work?
Enter the truck purchase price, any deposit, your preferred loan term, balloon percentage and repayment frequency. The calculator estimates your regular repayment using an indicative rate of 7.49% p.a. It's a ballpark figure — your actual rate and repayment will depend on the lender, truck age, your business profile and credit assessment.
What interest rate does the calculator use?
The calculator uses an indicative rate of 7.49% p.a. to generate an estimate. Actual truck finance rates in Australia typically range from around 7.20% to 10% p.a. depending on your credit profile, ABN history, truck age, loan amount and the lender. We compare 80+ lenders to find the most competitive rate for your circumstances.
Are the repayments shown by the calculator exact?
No — the figures are indicative only. They assume a fixed rate of 7.49% p.a. and don't include fees, charges, insurance or your individual circumstances. Your actual repayment will depend on the rate approved, fees that apply and the final loan structure. Get a free quote for a real number.
What is a balloon payment in truck finance?
A balloon is a lump sum left owing at the end of your loan term. Including a balloon reduces your regular repayments during the term, but leaves a larger amount to pay out, refinance or trade the truck against at the end. Balloons are common in commercial truck finance and can help preserve working capital.
Should I enter the truck price including or excluding GST?
Most truck buyers using a chattel mortgage can claim the GST back through their next BAS statement. If you expect to claim the GST, enter the ex-GST price. If you're not registered for GST or are using a different finance structure, enter the full purchase price. Check with your accountant for your specific situation.
What's the difference between weekly, fortnightly and monthly repayments?
The frequency changes when you pay, not the total cost. Weekly and fortnightly repayments make slightly more payments per year compared to monthly, which can reduce total interest slightly. Some operators prefer weekly or fortnightly as it aligns with how their business gets paid. Use the calculator to compare the three options side by side.
How does the loan term affect my truck finance repayments?
A longer term reduces your regular repayment but increases the total interest paid over the life of the loan. A shorter term means higher repayments but less interest overall and faster equity build. Most truck finance is structured over 3–7 years. We can model different terms to find the right balance for your cash flow.
What deposit should I enter if I have a trade-in?
Enter the trade-in value (or net equity after payout of any existing finance) as your deposit. If the trade covers part of the purchase price, the net amount financed will be the difference between the new truck price and the trade-in value or cash deposit.
What truck finance rates are available in Australia?
Truck finance rates typically start from around 7.20% p.a. for eligible applicants with strong ABNs and clean credit profiles financing new or late-model trucks. Rates for used trucks, older assets or applicants with credit history issues may be higher. We compare 80+ lenders to find the most competitive rate for your situation.
What factors affect my truck finance interest rate?
The main factors are your credit profile, ABN trading history, the age and condition of the truck, the loan amount, loan term, whether you're providing a deposit, the finance structure and the documentation type (full doc, lite doc or low doc). New trucks from established borrowers generally attract the sharpest rates.
How much can I borrow for a truck?
Borrowing capacity depends on your business financials, credit profile and the lender. Low doc truck finance is generally available up to $500,000 without providing financial statements. Full doc lending can extend to $5–10 million or more for larger purchases or fleet finance. We can assess your capacity across our full lender panel.
Can I get truck finance with no deposit?
Yes, eligible applicants can qualify for up to 100% truck finance with no deposit. Your eligibility will depend on your ABN history, credit profile, business trading history and the truck being purchased. Newer trucks from established businesses with clean credit profiles have the best chance of no-deposit approval.
What documents do I need for truck finance?
Documents vary by lender and documentation type. For low doc, you may need only your ABN details, ID and a signed declaration. Lite doc may require BAS statements or business bank statements. Full doc requires current tax returns and financial statements. We'll tell you exactly what's needed for your application before submission.
Can I get low doc truck finance?
Yes. Low doc truck finance is available to eligible applicants without requiring full financial statements. Applications are generally based on your ABN history, credit profile and the asset being financed. Low doc is typically available up to $500,000, depending on the lender and your circumstances.
Can I finance a used truck?
Yes. We arrange finance for new, used and older trucks. The truck's age, kilometres and condition affect which lenders and rates are available. Lenders typically finance trucks up to 25 years old at the end of the finance term, and trailers up to 30 years old, though this varies by lender. We match your truck to suitable lenders.
What finance structures are available for trucks?
Common truck finance structures include chattel mortgage, commercial hire purchase, finance lease, rent-to-own and sale and leaseback. The right structure depends on your GST position, whether you want to own the truck outright, your tax position and cash flow needs. We explain the differences and recommend the best fit for your business.
What is a chattel mortgage for trucks?
A chattel mortgage is one of the most common commercial truck finance structures. You own the truck from day one, and the lender takes a mortgage over the asset as security. You may be able to claim the full GST upfront through your BAS and claim interest and depreciation as tax deductions. Speak to your accountant about your specific position.
Can a new business or new ABN get truck finance?
Some lenders consider new businesses and recently established ABNs. Your industry experience, credit profile, deposit contribution, evidence of contracts or work, and the truck being purchased all influence your options. A deposit is usually required for new ABNs. We can assess your situation and identify the most appropriate lenders.
How quickly can truck finance be approved?
Same-day approvals are possible for straightforward applications with strong profiles. Most approvals come back within 24–48 hours. Complex applications or those requiring additional documentation may take longer. We work to match your application with the right lender from the start to keep the process as fast as possible.
Does applying for truck finance affect my credit score?
Getting a quote through Overdrive Funding has no impact on your credit score. We don't run a formal credit inquiry at the quote stage. A credit check is only submitted when you approve your application and we submit it to the chosen lender. We can often compare multiple lenders using soft-touch methods before any formal inquiry.
Can I claim GST and depreciation on a financed truck?
Depending on the finance structure and your GST registration status, you may be able to claim the GST on the truck purchase through your BAS and claim interest and depreciation as tax deductions. Tax treatment depends on your circumstances and the finance structure. Always check with your accountant before making decisions based on tax benefits.
Can I get truck finance if I have bad credit?
Yes. Having adverse credit doesn't automatically disqualify you from truck finance. We work with a range of lenders that assess applications on the full picture, including your business history, the truck, deposit and ability to service the loan. Approval isn't guaranteed, but we'll explore every available option for your situation.
Can I finance a truck and trailer separately?
Yes. A truck and trailer can be financed separately or together as part of the same transaction, depending on the lender and circumstances. We can structure the finance to cover both assets in a way that makes sense for your business and cash flow.
How do I find the best truck finance rate?
The best way is to compare across multiple lenders rather than accepting the first offer from a bank or dealership. We compare 80+ lenders and negotiate directly on pricing where possible. If you already have a quote, send it through and we'll work to beat it. Our service is completely free.
How do I apply for truck finance through Overdrive Funding?
Click 'Free Quote' on this page and complete the short form. It takes a few minutes and has no impact on your credit score. Simon will review your enquiry and get back to you — usually within 30 minutes during business hours. From there we compare lenders, confirm rates and structure, and manage the application through to approval and settlement.
Lending Panel
Access to 80+ Lenders In One Place
Access to Australia's leading commercial lenders lets us compare the market and tailor competitive, flexible finance solutions to each client's unique needs.
