Truck Finance

What we write

Low doc is normal here

Most people financing work vehicles are self-employed, and most of them can't produce two years of clean tax returns that reflect what they're actually earning right now. That's not an obstacle, it's the standard case.

Depending on the lender and the deal, we can often work from bank statements, BAS, or an accountant's letter. ABN under two years is workable. In some cases, with a decent deposit or equity in an existing asset, a deal gets written on the asset itself.

How ABN holder finance works →

Chattel mortgage and the tax side

Most work vehicle finance is written as a chattel mortgage — you own the vehicle from day one, the lender takes security over it. For a GST-registered business, that usually means claiming the GST on the purchase price in your next BAS, and claiming interest and depreciation.

Whether the instant asset write-off applies to your purchase depends on the threshold in force for that financial year and your business's circumstances. We'll tell you what we know, but the person to confirm it with is your accountant — and it's worth that phone call before you commit to timing.

Fleet and second vehicles

Adding a second or third vehicle is usually simpler than the first, especially where the existing ones are performing. Bring what you've already got financed and we'll look at the whole picture — sometimes there's a better structure across the lot than one more standalone loan.

From quote to carting: how a truck deal runs

If there's a contract waiting on this truck, tell us the start date. We work backwards from the day you need to be carting.

One paperwork note that saves days: on a business deal, the invoice needs to be made out to the borrowing entity — the company or the ABN, not your personal name. Sort that with the seller early and settlement doesn't stall on a re-issued invoice.

• Send us the quote or the listing — dealer, private seller or auction, all fine.
• Tell us what the truck will do. The work story matters as much as the numbers on a low doc deal.
• We assess off bank statements or BAS — a credit check that won't affect your credit score, then across the panel.
• Conditional approval, usually 24 to 48 hours.
• Fit-out quotes go in now if the tray, body or tipper gear is being financed with the vehicle.
• We pay the seller directly and the truck's yours. On the job, not in paperwork.

New, used or ex-fleet

New gets you full warranty, the latest emissions gear and a maintenance plan — but popular models carry order waits that can run months, which matters when the work starts sooner than that.

The used private market is where the value is, if the service books are honest. On trucks, the books are everything: a high-kay prime mover with a complete service history is a better buy and an easier finance write than a low-kay unit with gaps in the record.

Ex-fleet and ex-government trucks are worth a hard look. They've been serviced on schedule because a fleet manager's job depended on it, and they come with the paperwork to prove it. Kilometres and age shape which lenders will write the deal — big kays don't kill it, they just narrow the field, and we know who's still in it.

One check specific to modern used trucks: the emissions gear. DPF and AdBlue systems are expensive to put right when they've been neglected or bodged, so ask how they've been maintained and whether anything's been deleted — a deleted system is a compliance problem you'd be buying, not just a mechanical one.

What a truck costs to keep on the road

Owner-drivers price jobs on the truck's real running cost. If you're new to that, here's the list to build your rate card from.

Mistakes owner-drivers make with truck finance

Refinancing and pulling cash out of the fleet

If you're carrying truck loans written a few years back — especially anything signed in a hurry to catch a job — they're worth re-pricing. We compare 60+ lenders and will beat your current offer.

An unencumbered truck is also an asset you can borrow against. Raising working capital against gear you own outright is a common way to fund the next trailer, cover a slow quarter, or put a deposit on the next vehicle without touching the operating account. Bring the whole picture — what's owned, what's owing — and we'll tell you what's possible across the lot.

Going from employed driver to owner-driver

The jump from company driver to owner-driver is the classic new-ABN deal, and it's very writable. Your years behind the wheel count as industry experience even when the ABN is weeks old — lenders on our panel price the driver, not just the paperwork.

What strengthens it: a signed subcontract agreement or letter of intent from the operator you'll cart for, your licence classes current (HR, HC or MC as the work demands), and the ABN registered early rather than the week you apply.

Sequencing matters, so ring before you resign. Getting the finance conversation started while the plan is coming together beats scrambling for a truck after the work's already been offered.

And a first-year habit worth building from day one: put a slice of every payment aside for the lumpy bills — rego renewal, insurance, the tyre set. Employed drivers never see those costs. Owner-drivers who plan for them sleep better, and their bank statements look better when the second truck comes around.

What customers say

Questions we get asked