Truck Finance Broker for Owner Drivers and Fleets
If you drive for a living, the truck is the business. A slow or badly structured loan costs you contracts, and the wrong repayment schedule can choke your cash flow in a quiet month. That is why most operators we work with come to a broker rather than walking into their bank.
We arrange finance for light rigids through to B-double prime movers, for first-time owner drivers and for fleets adding their tenth unit. We work with [X] lenders, including banks and specialist asset financiers who understand transport income. You deal with one person, [Broker name], from quote to keys.
How truck finance works
Most truck loans in Australia are written as one of three structures. Which one suits you depends mainly on how you account for GST and whether you want the truck on your balance sheet.
- Chattel mortgage. You own the truck from day one and the lender takes security over it. If you're registered for GST, you can usually claim the GST on the purchase price in your next BAS. This is the most common choice for owner drivers.
- Finance lease. The lender owns the truck and you pay rent for an agreed term, with an option to buy it at the end. Rentals are generally tax-deductible as a business expense.
- Commercial hire purchase. The lender owns the truck until your final payment, then ownership passes to you.
Your accountant should confirm which structure fits your tax position. We’ll show you the repayments on each so you can compare like with like.
Trucks we finance
Light, medium and heavy rigids, prime movers, tippers, refrigerated trucks, tautliners, tilt trays, agitators, and trailers of all kinds. New from a dealer, used from a dealer, private sale or auction. See our pages on [used truck finance], [prime mover finance] and [tipper truck finance] for what lenders look for with each.
Who we help
- Owner drivers moving from employee to subcontractor, or upgrading the rig they already run.
- Fleet operators who need a lender that can see the whole book, not one truck at a time.
- New ABNs. Some lenders will finance a first truck with an ABN only weeks old, if you have driving experience and a contract or work lined up.
- Self-employed operators without up-to-date financials. See [low doc truck finance].
- Borrowers with past credit issues. Specialist lenders look at why it happened and what has changed since.
What lenders look at
Expect questions about: how long your ABN has been registered, whether you’re registered for GST, your heavy vehicle licence class (LR, MR, HR, HC or MC), your driving history in the industry, the truck’s age and price, any deposit or trade-in, your credit file, and who you’ll be carting for.
The truck’s age matters more than most people expect. Many lenders limit how old the truck can be when the loan finishes, so a 12-year-old prime mover may need a shorter term than a 3-year-old one. We check those limits before you commit to a purchase.
Balloon payments explained
A balloon (or residual) is a lump sum you agree to pay at the end of the loan. It lowers your regular repayments, but it does not reduce the cost. You still owe it, and you pay interest on it for the whole term.
[Worked example, to be completed by the broker with a real indicative rate: a $[X] truck over 5 years with no balloon vs a 30% balloon, showing the monthly repayment and total interest for each.]
A balloon can make sense if the work is steady and you plan to trade the truck in. It is risky if the truck will be worth less than the balloon when the time comes.
Frequently asked questions
Can I get truck finance with a new ABN?
Yes, with some lenders. They’ll want proof you know the industry: previous driving work, a contract, or a letter of offer from the company you’ll sub-contract to.
Do I need a deposit?
Not always. See our guide to [truck finance with no deposit] for when lenders accept zero deposit and what it costs.
Can I buy from a private seller?
Yes. The lender will need a PPSR search to confirm the truck isn’t already under finance, and usually an inspection or valuation.
How long does approval take?
[Broker to fill from experience, e.g. “Straightforward deals are often approved in 1–2 business days.”]
Is truck finance tax deductible?
Interest and depreciation are generally deductible for business use, and GST may be claimable. Speak to your accountant about your situation.