Commercial vehicle finance

Truck finance and truck loans

Light commercial to prime movers, new and used.

Truck finance is usually a chattel mortgage, hire purchase or lease secured on the truck, at a fixed rate over one to seven years, with an optional balloon to lower the repayments. NAB publishes $0 deposit for most purchases, no monthly fees and a $600 set-up fee on its vehicle and equipment loan, which covers trucks, trailers and buses, and ANZ quotes trucks, buses and trailers online for dealer sales. Lenders want an ABN, a truck used mostly for the business and, at the banks, your business financials.

What lenders publish
Truck repayments
Business car loans

How much would payments be on a $40,000 truck?

Monthly principal and interest repayments over 5 years, by loan amount and interest rate
Loan amount	Monthly repayment at
Loan amount	6%p.a.	8%p.a.	10%p.a.	12%p.a.
$40,000	$773	$811	$850	$890
$80,000	$1,547	$1,622	$1,700	$1,780
$120,000	$2,320	$2,433	$2,550	$2,669
$200,000	$3,867	$4,055	$4,249	$4,449
$300,000	$5,800	$6,083	$6,374	$6,673

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. Truck finance rates are quoted on application, so these are examples. A balloon lowers the repayment and raises the total interest. Run your own numbers.

 Calculator

Truck loan calculator

Light to heavy commercial vehicles

Loan amount$100,000

$10,000$1,000,000

Interest rate6.99% p.a.

5.00% p.a.12.00% p.a.

Loan term5 years

1 year7 years

Monthly repayment

$1,979.65

Total interest

$18,779

Total repayment

$118,779

Principal 84.2%Interest 15.8%

Get a personalised quote

Estimates only. Actual rate and repayment depend on your lender, loan structure and credit assessment.

Truck finance lenders a broker can compare

Lenders in our directory that write chattel mortgages over vehicles and equipment, including a heavy commercial specialist. The banks' published truck finance terms are in the table below.

Truck finance lenders a broker can compare: each lender's type, the products it offers and its current rate
Lender	Products	Current rate
Australia and New Zealand Banking GroupMajor bank	Products: Chattel mortgage	Current rate: ANZ rate card (opens in a new tab)
Commonwealth Bank of AustraliaMajor bank	Products: Chattel mortgage	Current rate: CommBank rate card (opens in a new tab)
National Australia BankMajor bank	Products: Chattel mortgage	Current rate: NAB rate card (opens in a new tab)
Westpac Banking CorporationMajor bank	Products: Chattel mortgage	Current rate: Westpac rate card (opens in a new tab)
BankSAMajor-bank brand	Products: Chattel mortgage	Current rate: BankSA rate card (opens in a new tab)
Suncorp BankMajor-bank brand	Products: Chattel mortgage	Current rate: Suncorp Bank rate card (opens in a new tab)
Bank of QueenslandTier-2 bank	Products: Chattel mortgage	Current rate: BOQ rate card (opens in a new tab)
Bendigo and Adelaide BankTier-2 bank	Products: Chattel mortgage	Current rate: Bendigo Bank rate card (opens in a new tab)
EarlypaySpecialist	Products: Chattel mortgage	Current rate: Ask a broker
GetCapital (Shift)Specialist	Products: Chattel mortgage	Current rate: Ask a broker
ScotPacSpecialist	Products: Chattel mortgage	Current rate: Ask a broker
SelfcoSpecialist	Products: Chattel mortgage	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

Truck finance at a glance
Chattel mortgage, hire purchase or lease, secured on the truck; ANZ publishes 1 to 7 year terms on lease and hire purchase
NAB: $0 deposit for most purchases, $0 monthly fees, $600 set-up fee, fixed rate, optional balloon
ANZ: online quotes for trucks, buses and trailers bought from a dealer; 0.80% p.a. off energy-efficient assets
Pepper Money finances heavy commercial transport after two years’ ABN registration
Lenders want an ABN and a truck used mostly for business; the banks also ask for business financials

What do lenders publish on truck finance?

Read from each lender's business vehicle page on 30 September 2026. Rates are quoted on application at all three.

Lender	What it finances	Deposit and fees	Term, rate and balloon	Who can apply
NAB (vehicle and equipment loan)	Chattel mortgage over cars, utes and vans, trucks, trailers and buses; electric trucks and buses under its green finance	$0 deposit for most purchases; $0 monthly fees; $600 set-up fee	Fixed rate and repayments; optional balloon	Valid ABN, GST-registered, used mostly for business; most businesses supply two years of financial statements and the latest tax portal report with BAS
ANZ	Business car loan on new or used cars, trucks and vans; online quotes for trucks, buses and trailers (dealer sale only); lease and hire purchase	Secured by the vehicle; directors' guarantees may be required	Lease and hire purchase 1 to 7 years; rate often fixed for the term; 0.80% p.a. off energy-efficient assets	Current ABN, asset used mostly for business; online applications need 6 months of reconciled accounting data
Pepper Money	Trucks, trailers, buses and heavy commercial transport	Vehicle loans to $300,000 for commercial applicants	Flexible terms; flexible balloon options	After 2 years' ABN registration

Owner-operator truck finance

For an owner-operator, the truck is the business, so lenders look at the work behind it as closely as the truck itself.

Trading history and contracts

The banks assess the business's financial performance: NAB publishes that most businesses supply two years of financial statements and the latest tax portal report including BAS. A first truck with a short trading history usually leans on subcontract agreements, a larger deposit or a specialist lender.

Low doc options

If you have been subcontracting under an ABN with BAS history but do not have full financials, a low doc lender may be the route, usually at a higher rate.

Used trucks

A well-maintained older truck can have plenty of working life left, but each lender sets its own age and condition rules, so check them before you commit.

Balloons

A balloon keeps the repayments down while the truck earns, with the lump sum paid from the trade-in or a refinance at the end.

Licensing and compliance

A truck brings obligations a car does not. Check these before you buy:

Driver licensing: the licence class for the truck (LR, MR, HR, HC or MC)
Chain of Responsibility: every party in the transport chain has legal obligations for safety compliance
Roadworthiness inspections: heavy vehicles need periodic inspections in most states
Mass and dimension limits: the truck and its load must comply with heavy vehicle mass and dimension rules

How truck finance works

Tell a broker what you need

The truck, new or used, its price, and how the business will use it.

Business assessment

ABN details, financials or BAS, and evidence of transport contracts or a work pipeline.

Lender matching

The broker prices the structure, term and balloon across the lenders on their panel.

Approval and settlement

Sign the documents; the lender pays the dealer or seller and you collect the truck.

Related finance guides

Business car loans

Chattel mortgage, lease and the tax rules

Ute finance

Light commercial utes

Chattel mortgage

The structure in detail

Transport equipment finance

Trailers, fleets and prime movers

Low doc car loans

Self-employed finance

Dealer finance vs bank vs broker

Where the dealer margin sits

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.

Truck finance FAQs

What are the current interest rates for truck finance?

Truck finance rates are mostly quoted on application rather than published. NAB publishes fixed interest rates and repayments on its vehicle and equipment loan, ANZ publishes that the rate is often fixed for the term and a 0.80% p.a. saving on energy-efficient assets, and both price each business individually. Your rate depends on the truck’s age and type, your business’s trading history and financials, the deposit and any balloon, which is why a broker quote across lenders is the way to find it.

Who has the best truck financing?

There is no single best lender. The banks suit established, GST-registered businesses: NAB finances trucks, trailers and buses with $0 deposit for most purchases and no monthly fees, and ANZ quotes trucks, buses and trailers online for dealer sales. Specialist asset lenders suit trucks and businesses outside bank policy: Pepper Money finances heavy commercial transport after two years’ ABN registration, and heavy commercial specialists such as Selfco write chattel mortgages too. The best offer is the lowest total cost for your truck and business.

Is it better to finance through a bank or dealer?

Compare both on the comparison rate and total cost rather than the repayment. A dealer can arrange finance on the spot, but dealers can mark up the lender’s rate and keep the difference; for cars, Mozo puts the markup at typically 1 to 2.5 percentage points. A bank or broker pre-approval gives you the benchmark the dealer’s offer has to beat, and lets you negotiate the truck’s price separately.

Is truck finance worth it?

It is when the truck earns more than it costs to finance. Finance spreads the cost over the truck’s working life and keeps cash in the business, and for a GST-registered business a chattel mortgage allows the GST on the price to be claimed and the interest and depreciation to be deducted to the business-use share. It is not worth it if the repayments rely on work you have not secured, or if a large balloon leaves you owing more than the truck is worth at the end.

How much would payments be on a $40,000 truck?

About $811 a month at 8% over five years, with no balloon and before fees. At 6% it is about $773 and at 10% about $850; over three years at 8% it rises to about $1,253. NAB publishes a $600 set-up fee on its vehicle and equipment loan, and the table above runs larger trucks.

What types of trucks can be financed?

Most of them: light commercial vehicles (vans and cab chassis under 4.5t GVM), light, medium and heavy rigid trucks, prime movers, tippers, tautliners, refrigerated trucks and specialised vehicles, plus trailers and buses. NAB’s vehicle and equipment loan lists trucks, trailers and buses, including electric trucks and buses under its green finance. New and used trucks can be financed, subject to each lender’s age and condition rules.

Do I need a special licence to buy a truck on finance?

You need the right licence to drive it: for trucks over 4.5 tonnes GVM that is a heavy vehicle licence (LR, MR, HR, HC or MC depending on the vehicle class). For light commercial vehicles under 4.5t, a standard car licence (Class C) is sufficient.

What is the maximum age for financing a used truck?

Each lender sets its own limit and few publish it; ANZ, for example, publishes that the term and the age of the asset must meet its credit requirements. An older truck usually means a shorter term, a larger deposit or a specialist lender, and a broker can check which lenders will take a particular truck before you commit to it.

Can I finance a truck with a balloon payment?

Yes. NAB publishes an optional balloon on its vehicle and equipment loan and Pepper Money publishes flexible balloon options on commercial assets. A balloon lowers the monthly repayment, but you pay more interest over the term and owe the lump sum at the end, which you pay out, refinance or cover by trading the truck.

What are the tax benefits of truck finance?

Under a chattel mortgage a GST-registered business can generally claim the GST on the purchase price and deduct interest and depreciation to the business-use share. The instant asset write-off only applies to an asset costing less than $20,000, so most trucks are depreciated instead; the business car loans guide covers the rules. Confirm the treatment with your accountant.

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