Business car loans and ABN car finance
A business car loan finances a car, ute, van or light truck used in your business under an ABN, secured on the vehicle, usually at a fixed rate over one to seven years with an optional balloon. Most are written as a chattel mortgage, so the business owns the vehicle from day one and a GST-registered business can claim the GST on its next BAS; a lease keeps the vehicle off the balance sheet instead. NAB and ANZ publish terms of 1 to 7 years, and ANZ, CommBank and Great Southern Bank publish that no deposit may be needed.
Business car loan lenders a broker can compare
Lenders in our directory that write chattel mortgages, the structure most business car loans use. Asset finance brokers also place vehicle loans with the banks and the captive finance arms; the published terms of the major banks are in the table below.
| Lender | Products | Current rate |
|---|---|---|
| Australia and New Zealand Banking GroupMajor bank | Products:
| Current rate: ANZ rate card (opens in a new tab) |
| Commonwealth Bank of AustraliaMajor bank | Products:
| Current rate: CommBank rate card (opens in a new tab) |
| National Australia BankMajor bank | Products:
| Current rate: NAB rate card (opens in a new tab) |
| Westpac Banking CorporationMajor bank | Products:
| Current rate: Westpac rate card (opens in a new tab) |
| BankSAMajor-bank brand | Products:
| Current rate: BankSA rate card (opens in a new tab) |
| Suncorp BankMajor-bank brand | Products:
| Current rate: Suncorp Bank rate card (opens in a new tab) |
| Bank of QueenslandTier-2 bank | Products:
| Current rate: BOQ rate card (opens in a new tab) |
| Bendigo and Adelaide BankTier-2 bank | Products:
| Current rate: Bendigo Bank rate card (opens in a new tab) |
| EarlypaySpecialist | Products:
| Current rate: Ask a broker |
| GetCapital (Shift)Specialist | Products:
| Current rate: Ask a broker |
| ScotPacSpecialist | Products:
| Current rate: Ask a broker |
| SelfcoSpecialist | Products:
| Current rate: Ask a broker |
Inclusion is editorial reference, not a recommendation. Rates change often, so we only show a rate we captured from the lender's own page in the last 60 days, with a link to that page; otherwise we link to the lender's rate card where it publishes one. The broker you are matched with compares the lenders on their own panel.
See all 13 equipment finance lenders- Three structures: chattel mortgage (you own it, claim GST upfront), hire purchase (ownership at the end) and lease (lender owns it, payments deductible); NAB publishes all three
- Terms of 1 to 7 years at NAB and ANZ, 12 to 84 months at Great Southern Bank; fixed for the term, ANZ quote valid 7 days
- No deposit may be needed: ANZ, CommBank ($0 deposit) and Great Southern Bank (vehicle-only security to a $250,000 drive-away price)
- Optional balloon to lower repayments: NAB, ANZ, and Great Southern Bank on 1 to 6 year terms
- Green discounts: Westpac up to 1% off for an EV, CommBank 1%; new or used vehicles at Westpac; turnover of at least $75,000 at Great Southern Bank
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are calculated on a secured loan of $150,000 over 25 years for home loans, a loan of $30,000 over 5 years for car and personal loans, and $50,000 over 5 years for equipment finance, unless the lender states another basis.
Chattel mortgage, hire purchase or lease?
The structure decides who owns the vehicle, when GST is claimed and what is deductible. NAB publishes the three side by side on its business vehicle finance page, along with the GST and instant asset write-off implications, and business.gov.au publishes the lease-versus-buy comparison from the government side. In short:
| Feature | Chattel mortgage | Hire purchase | Finance or operating lease |
|---|---|---|---|
| Who owns the vehicle | Your business, from settlement; the lender holds a mortgage over it | The lender until the final payment | The lender; you rent it |
| GST | Claimed on the purchase price on the next BAS (GST-registered, subject to the car limit and business use) | Claimed upfront on the price | Claimed on each payment |
| Tax deductions | Interest and depreciation (or instant asset write-off where eligible) | Interest and depreciation | The lease payments, to the business-use share |
| On the balance sheet | Yes, asset and liability | Yes | Finance lease yes; operating lease typically off |
| Balloon or residual | Optional balloon | Optional balloon | Residual set by the lender |
| Best for | Businesses keeping the vehicle, wanting the upfront GST claim | Businesses not GST-registered or preferring ownership at the end | Businesses that replace vehicles regularly and want fixed costs |
Westpac publishes its business vehicle loan as a chattel mortgage with $0 monthly fees on new or used vehicles, which is the default structure across the majors. The chattel mortgage guide goes through the mechanics. A novated lease, where an employee salary-packages a car through the employer, is a different product and is not covered here.
What do lenders publish on business car loans?
Checked against each lender's published business vehicle finance page on 20 September 2026; "Not published" means the page does not state it. Rates are on application at each of the banks.
| Lender | Structures | Term | Deposit and security | Balloon | Other published terms |
|---|---|---|---|---|---|
| NAB | Chattel mortgage, hire purchase, lease | 1 to 7 years, fixed | Not published | Optional balloon | Page explains GST and instant asset write-off implications |
| ANZ | Business vehicle loan (chattel mortgage style) | 1 to 7 years, fixed | No deposit may be needed; secured by the vehicle; directors' guarantees may be required | Optional balloon | Quote valid for 7 days |
| Westpac | Chattel mortgage | Not published | Not published | Not published | $0 monthly fees; up to 1% off for an electric vehicle; new or used |
| CommBank | Vehicle and equipment finance | Not published | $0 deposit | Not published | From $20,000; no monthly fees; 1% green discount |
| Great Southern Bank (Business+ Vehicle Loan) | Secured vehicle loan | 12 to 84 months, fixed for life | No deposit; vehicle-only security; drive-away price up to $250,000 | Available on 1 to 6 year terms | Minimum turnover $75,000 |
| Angle Auto Finance (via Money.com.au) | Not published | Not published | Not published | Not published | 0.70% EV discount reported |
| Group & General Finance (via Money.com.au) | Not published | Up to 5 years | Not published | Not published | Cap of $350,000 reported |
What are the repayments on a $40,000 business car loan?
| Loan amount | Monthly repayment at | |||
|---|---|---|---|---|
| 6%p.a. | 8%p.a. | 10%p.a. | 12%p.a. | |
| $30,000 | $580 | $608 | $637 | $667 |
| $40,000 | $773 | $811 | $850 | $890 |
| $50,000 | $967 | $1,014 | $1,062 | $1,112 |
| $60,000 | $1,160 | $1,217 | $1,275 | $1,335 |
| $80,000 | $1,547 | $1,622 | $1,700 | $1,780 |
Scroll the table sideways for more rates
Illustrative monthly principal and interest repayments over 5 years, before fees and charges. Rates are examples, not offers; your rate depends on the lender and your circumstances. The banks quote business vehicle rates on application, so the rates here are examples in line with the secured car loan ranges the major lenders publish. A balloon lowers the repayment and raises the total interest. Run your own numbers.
GST, the instant asset write-off and the car limit
Three tax rules shape the decision, and all three depend on your accountant confirming the numbers for the year.
GST
A GST-registered business under a chattel mortgage or hire purchase can generally claim the GST on the vehicle's purchase price on its next BAS, to the business-use percentage and subject to the car limit, which caps the GST claim on passenger cars.
The instant asset write-off
An eligible small business can deduct the business-use portion of a vehicle's cost in the year it is first used or installed ready for use, but only if the whole vehicle costs less than $20,000, measured excluding GST for a GST-registered business that can claim the full credit. NAB flags the write-off on its vehicle finance page as a reason to choose ownership over a lease. A vehicle costing $20,000 or more goes into the small business pool instead, where the business-use portion is depreciated at 15% in the first year and 30% a year after that.
The car limit
The car limit ($69,883 for 2026-27) caps the cost that can be depreciated on a passenger car. It does not apply to a ute, van or truck built to carry a load of one tonne or more, one reason tradespeople buy work vehicles rather than cars through the business; the ute finance guide covers it.
Balloons, terms and the total cost
A balloon lowers the repayment by leaving a lump sum to the end of the term. NAB and ANZ publish it as optional, Great Southern Bank on terms of 1 to 6 years, and business.gov.au lists it among the features to weigh, because interest is charged on the balloon amount for the whole term, so the loan costs more in total than the same loan without one.
The right balloon is roughly the vehicle's expected trade-in value at the end of the term, so the sale clears it; a balloon above that leaves a gap to refinance. Run the numbers in the car loan calculator with and without a balloon over the term you will actually keep the vehicle.
Who qualifies for an ABN car loan?
An ABN, and usually GST registration if you want the upfront GST claim; Money.com.au reports at least one lender requiring 12 months of GST registration. Trading history matters: Great Southern Bank publishes a minimum turnover of $75,000, and businesses under 12 months old generally need a director's guarantee, which ANZ publishes may be required, or a larger deposit.
The vehicle itself is the main security, which is why no-deposit loans exist at ANZ, CommBank and Great Southern Bank; older or higher-mileage used vehicles narrow the field. A sole trader or new ABN has options through the low-doc lenders, covered in the low doc car loans and ABN loans guides.
How a broker helps
Asset finance brokers place vehicle loans across the banks, the captive finance arms and the specialist asset lenders, and the useful work is structural: choosing between chattel mortgage and lease with your accountant, setting the term and balloon to the vehicle's life, and pricing the EV and green discounts. The business loan broker guide covers what to ask, and the car loans hub covers the consumer side.
Vehicle and asset finance guides
Structures, calculators and the related products.
Business car loan FAQs
Are business car loans cheaper?
Can you buy a car on a business loan?
How long would it take to pay off a $40,000 car loan?
What is the best way to finance a vehicle for a business?
How long can a business vehicle loan be?
Do I need a deposit for a business car loan?
What is a balloon payment on a business vehicle loan?
Can a business claim GST on a financed vehicle?
Are business car loan rates fixed?
Are there discounts for electric vehicles?
Can a new business or sole trader get a car loan with an ABN?
Finance the work vehicle the right way
Tell us the vehicle, your business structure and how long you will keep it, and get matched with a licensed asset finance broker who structures and prices the loan across lenders. No obligation.