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Heavy-Duty Finance for Truck Loans

Heavy-Duty Finance for Your Truck

Whether you're an owner-operator or managing a fleet, we'll find you a competitive finance deal to get the rig you need on the road. Compare with no credit impact.

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The Smarter Way to Finance Your Truck

Discover the features and benefits of using Loan Phone.

Finance for Any Rig

From prime movers and tippers to refrigerated trucks, we connect you with lenders who understand the value and specifics of heavy vehicles.

Low-Doc Options

We work with lenders who offer flexible documentation options for ABN holders and self-employed operators, making the application process smoother.

Fast Approvals

We know downtime costs you money. Our streamlined process is designed to get you a fast pre-approval so you can secure your asset quickly.

Specialist Brokers

Get paired with a broker who specialises in transport and heavy vehicle finance. They know the market and can structure a deal that suits your business cash flow.

Compare a Panel of Lenders

Don't just go to one bank. We give you access to a wide range of lenders, including non-bank specialists, to ensure you get a competitive rate and term.

Protect Your Credit File

See your genuine finance options without lodging a formal application. Our technology performs a soft check that won't impact your credit score.

How Our Truck Finance Comparison Works

1. Tell Us About Your Truck

Share details about the truck you need, including type (prime mover, tipper, rigid, etc.), whether it’s new or used, and how it will be used in your transport business.

2. Get Matched With Transport Finance Specialists

We connect you with finance brokers who specialize in heavy vehicle finance and understand the trucking industry, resale values, and operational requirements.

3. Compare Heavy Vehicle Finance Options

Review tailored finance proposals including chattel mortgage, hire purchase, and lease options designed specifically for commercial trucks and transport businesses.

4. Structure for Your Cash Flow

Your broker helps you choose the right repayment structure, including balloon payments if needed, to align with your business income and operational cycles.

5. Get Back on the Road

Fast approval and settlement means you can secure your truck quickly and get back to earning. Most approvals within 24-48 hours for qualified operators.

Truck Finance Eligibility

While requirements vary by lender and truck value, you’ll generally need:

Business Structure: ABN holder, sole trader, partnership, or company

Trading History: Typically 6-12 months minimum (some lenders consider newer operators)

Income: Demonstrated ability to service the loan from transport income

Credit History: Reasonable business and personal credit history

Deposit: Typically 10-20% (varies by truck age and lender)

Truck Usage: Must be used for commercial transport purposes

Don’t meet all criteria? Our broker network includes specialist lenders with flexible requirements. We help transport operators with:

  • Owner-operators and small fleets
  • Low-doc applications
  • Varied credit histories
  • Used and older trucks
  • Higher value prime movers
  • Start-up transport businesses

Types of Trucks & Finance We Compare

Truck Type Finance Options Typical Terms
Prime Movers & Semi-Trailers Chattel mortgage, hire purchase 3-7 years, balloon options available
Rigid Trucks & Pantech Chattel mortgage, finance lease 3-5 years, competitive rates
Tipper Trucks Chattel mortgage, hire purchase 3-7 years, construction specialists
Refrigerated Trucks Chattel mortgage, operating lease 3-5 years, temperature-controlled specialists
Car Carriers & Specialty Chattel mortgage, bespoke terms 3-7 years, specialist lenders
Used Heavy Vehicles Chattel mortgage, hire purchase 2-5 years, age-dependent terms

Frequently Asked Questions About Truck Loans

What’s the maximum age for a truck I can finance? Most lenders finance trucks up to 15-20 years old at the end of the loan term. For example, if you’re financing over 5 years, they may accept a truck up to 10-15 years old at purchase. Prime movers and well-maintained trucks may qualify for longer terms.

Do I need to provide full financials as an owner-operator? Not always. We work with lenders who offer low-doc options for owner-operators and small transport businesses. You may be able to use BAS statements, bank statements, or accountant’s letters instead of full financial statements in some cases.

Can I include the trailer in my truck finance? Yes. Many lenders allow you to finance the prime mover and trailer together as a single package. This simplifies the approval process and ensures you have complete financing for your operational needs.

What deposit do I need for a truck loan? Most lenders require 10-20% deposit for truck finance. The exact amount depends on the truck’s age, condition, your business history, and the lender’s criteria. Some specialist lenders may offer lower deposit options for established operators.

How quickly can I get truck finance approved? For owner-operators and small transport businesses with straightforward applications, approval typically takes 24-48 hours. Larger fleet purchases or complex structures may take 3-5 business days. Settlement usually occurs within 1-2 days of approval.

Can I finance a truck from a private seller? Yes. We work with lenders who finance private sale truck purchases. They typically require a vehicle inspection and clear PPSR check. The approval process may take slightly longer than dealer purchases but competitive rates are available.

Explore these related guides to learn more about heavy vehicle financing:

Why Truck Finance Matters

In the transport industry, your truck is your livelihood. Getting the right finance deal can mean the difference between a profitable business and struggling to make ends meet. Our specialized approach connects you with lenders who understand the trucking industry and can structure deals that work for your cash flow.