Business Vehicle Finance
Business Car Loans from 5.49% p.a.
Comparison rate 6.12% p.a.* on a $50,000 chattel mortgage over 5 years.
Business Car Loan Calculator
Estimate your pre-tax business vehicle cost
Loan Amount
$50,000
$5,000$500,000
Interest Rate (p.a.)
6.49%
5.00%12.00%
Loan Term
5 years
1 years 7 years
Monthly Payment
$978.07
Total Interest
$8,684
Total Repayment
$58,684
Principal (85.2%)Interest (14.8%)
Principal: $50,000
Interest: $8,684
This calculator provides estimates only. Actual rates and repayments may vary based on your circumstances and lender requirements.
Business Car Loans at a Glance
- Multiple finance structures: chattel mortgage, hire purchase, finance lease, operating lease
- Tax benefits including GST recovery, interest deduction, and depreciation (structure dependent)
- Fleet finance with volume discounts for businesses purchasing multiple vehicles
- Low doc options for self-employed and ABN holders with limited financial documentation
- Rates from 5.49% p.a. for established businesses with strong financials
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 based on a secured loan of $30,000 over 5 years for vehicle finance and $50,000 over 5 years for equipment finance, as required under the National Credit Code.
Business Car Loan FAQs
What types of business car finance are available?
The main types are: chattel mortgage (you own the vehicle, claim GST upfront, deduct interest and depreciation), finance lease (lender owns the vehicle, entire lease payment is tax-deductible), operating lease (off-balance sheet, return the vehicle at end), hire purchase (ownership transfers at end of term), and novated lease (for employees salary packaging through employer). The best option depends on your business structure and tax situation.
Can I finance a fleet of vehicles?
Yes, we arrange fleet finance for businesses purchasing 2 to 200+ vehicles. Fleet finance often attracts volume discounts on both the vehicle purchase price and the finance rate. We can structure fleet arrangements across multiple vehicle types with consistent terms and centralised management.
What do I need to apply as an ABN holder?
Requirements depend on the lender and loan type. Generally you need: active ABN (minimum 6-12 months for low doc, 2+ years for best rates), GST registration (for tax benefits), recent BAS statements or financials, details of the vehicle(s) to be purchased, and identification documents. Low doc options are available for newer businesses.
Is a chattel mortgage or hire purchase better for my business?
A chattel mortgage provides ownership from day one, GST input credit claim, interest deduction, and depreciation. Hire purchase also leads to ownership but at the end of the term, and GST is claimed progressively on each payment. For most businesses, chattel mortgage is more tax-efficient because of the upfront GST credit. Consult your accountant for advice specific to your situation.
Can a new business get vehicle finance?
Yes, though options are more limited for businesses under 2 years old. Low doc finance is available for ABNs active for 6+ months, using BAS statements or bank statements as income verification. New businesses may need a deposit of 10-20% and may face slightly higher rates. Our brokers specialise in finding finance for newer businesses.
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