Used Truck Finance, Including Private Sales
A good used truck can earn the same money as a new one for a lot less outlay. The catch is that lenders treat older trucks differently, and the rules change from lender to lender. Get the finance side sorted before you hand over a deposit, and you won’t be stuck with a truck you can’t fund. Part of our truck finance broker service.
How old is too old?
There is no single answer. Many lenders set a maximum age for the truck at the end of the loan term, so the older the truck, the shorter the term they’ll offer. A shorter term means higher repayments, which then affects whether the deal stacks up.
Before you commit, send us the year, make, model, kilometres and price. We’ll tell you which lenders will look at it and roughly what term they’ll allow.
Buying from a dealer vs a private seller
Dealer sales are the simplest. The dealer supplies a tax invoice, the lender pays the dealer directly, and you drive away.
Private sales take a few more steps, but most of our lenders accept them. Expect the lender to need:
- a PPSR search, to make sure there’s no existing finance owing on the truck
- proof of the seller’s ownership and identity
- the seller’s bank details, so funds go to the right place (and to any existing financier first)
- sometimes an inspection or independent valuation
We handle the paperwork with the seller so you’re not the one chasing documents.
Auction purchases need speed. Get pre-approved before auction day so you know your limit, and check the auction house’s payment terms; some want funds within 48 hours.
What to check before you buy
Lenders care about the truck being worth what you’re paying. Look at the service history, the odometer against the engine hours, any NHVR defect notices, and whether the registration and roadworthy are current. If a valuation comes in under the price, you’ll need to make up the difference.
Typical documents
Driver’s licence (heavy vehicle class), ABN and GST details, recent bank statements, and for some loans BAS statements or tax returns. Details of the truck and seller. If you have a contract or regular work, bring evidence; it often makes the difference on a borderline deal.
Used Truck Finance: frequently asked questions
Can I finance a truck over 10 years old?
Often, yes, with a shorter term or a lender that specialises in older equipment. It depends on the truck’s age at the end of the loan.
Does a private sale cost more to finance?
Not necessarily. Some lenders price private sales the same as dealer sales; others add a small margin or require a valuation.
Can I trade in my current truck?
Yes. The trade-in value can act as your deposit, and any finance still owing is paid out at settlement.
Related finance options
Not quite the right fit? These pages cover options that often suit people in a similar position:
Prefer to talk it through? Book a free consultation or call +61 405 142 021.