Commercial vehicle finance for utes, vans and light trucks

A plumber’s ute with a canopy, ladder rack and drawer system. A courier’s long-wheelbase van. A florist’s refrigerated light truck. Each is a vehicle, but none is really a car: it’s a working tool that happens to have an engine. Commercial vehicle finance is set up for exactly these purchases, and the decisions that matter most are less about the loan and more about the vehicle’s specifications and how you use it.

What vehicles does it cover?

Vehicle	Typical buyers	Points lenders and accountants watch
Single and dual-cab utes	Trades, farmers, landscapers	Designed payload (above or below one tonne), private use, fit-out cost
Small and large vans	Couriers, cleaners, electricians, caterers	Kilometres, resale demand, shelving and signage
Cab-chassis with custom trays	Builders, fencers, concreters	Body builder’s invoice, tray and crane add-ons
Light trucks (up to 4.5t GVM)	Removalists, florists, produce suppliers	Refrigeration units, tail lifts, licence class
People movers and minibuses	Tour operators, aged care, schools	Seating capacity, accreditation

Once a vehicle’s gross vehicle mass passes 4.5 tonnes it’s a heavy vehicle under the national heavy vehicle rules, and the finance conversation changes. Our truck finance page covers that end of the market. For sedans, SUVs and wagons used in the business, see business car loans.

The one-tonne line most buyers don’t know about

Tax law draws a tight boundary around the word “car”. A vehicle only counts if its design payload is under one tonne and it seats fewer than nine people. That definition matters because the car limit, the cap on the cost you can depreciate and on the GST credit you can claim, applies only to cars.

With the 2026–27 limit set at $69,883, the most GST credit you can claim on a car is $6,353. A van or ute designed to carry one tonne or more isn’t a car under that definition, so the cap doesn’t bite. On a well-specified $90,000 cab-chassis with a one-tonne-plus payload, that can mean the full GST credit and depreciation on the whole cost, compared with a capped claim on a similarly priced SUV.

The test is the manufacturer’s designed payload, not what you happen to carry. Plenty of popular dual-cab utes sit either side of the line depending on the variant, so check the specifications and confirm with your accountant before assuming the higher claim.

Fringe benefits tax on work utes

If employees (including you, when you are employed by your own company) take a work vehicle home, FBT can come into play. Eligible commercial vehicles, such as single-cab utes and panel vans, can be exempt where private use is limited to driving between home and work, incidental travel during work trips, and other private use that is minor, infrequent and irregular. Some dual-cab utes are treated as cars for FBT purposes, so they need a closer look. Your accountant can tell you which side of the line your vehicle falls on.

Which structure fits?

Most commercial vehicles are funded one of four ways:

• Chattel mortgage. Title is yours immediately, with the lender holding a security interest over it. GST-registered businesses claim the GST credit upfront. The most common choice for owner-operators.
• Hire purchase. Title stays with the financier until you’ve made the final instalment; similar tax and GST outcome to a chattel mortgage.
• Finance lease. You rent the vehicle with a set residual at the end; GST is claimed on each rental.
• Operating lease. The lessor takes the resale risk and often bundles servicing. Popular for fleets of identical vans.

Unsure which suits the vehicle you’re eyeing off? Run us through it: sixty seconds of typing, and no hit to your credit report.

Can the fit-out be financed too?

Usually. Lenders will generally include canopies, trays, racking, toolboxes, refrigeration units, tail lifts and signwriting when they’re on the original invoice, either from the dealer or from a body builder paid at settlement. Two cautions:

1. Custom work rarely holds its value. A $25,000 bespoke tray on a $60,000 cab-chassis adds far less than $25,000 at resale, so a lender may cap the amount or want a deposit.
2. Later add-ons are harder. If you buy the vehicle now and the fit-out in three months, the fit-out may need separate equipment finance or come out of cash flow.

What will the lender check?

• ABN and GST history. Two years of registration gives the widest choice; newer businesses can still qualify with a deposit or by showing a property asset.
• The vehicle. New, demo or used; how old it will be when the final payment falls; private sale or dealer; a PPSR search to confirm no existing finance on a used vehicle.
• Your ability to repay. Bank statements, and for larger amounts, tax returns or BAS.
• Credit files. Business and directors. A past default isn’t always fatal if it has been settled and explained.
• Purpose. The vehicle must be used predominantly for business to be financed as a commercial loan.

What does it cost?

Cost is driven by your credit profile, the vehicle’s age and resale strength, the term, any balloon and the fees (establishment, ongoing account fees, and early payout costs). This directory doesn’t publish rates. Compare offers on the every dollar paid from settlement to final payment, balloon included. Our equipment finance calculator shows how balloon and term change that total, and the buying vehicles page sets out other ways to fund the purchase.

A balloon makes the monthly figure friendlier, yet the deferred amount lands when the vehicle is several years old and may be worth less than you owe. Size it conservatively, especially on high-kilometre vehicles like courier vans.

A buyer’s checklist

1. Confirm the designed payload and GVM from the manufacturer, not the brochure headline.
2. Price the fit-out and get it onto the same invoice where possible.
3. Decide how much private use the vehicle will have, and what that means for FBT.
4. Get a written quote showing total repayments, fees, balloon and payout terms.
5. On a used or private sale vehicle, run a PPSR search before handing over any money.

If you run deliveries, our courier business loans page explains how lenders treat vehicles that rack up big kilometres.

Get the right vehicle on the road

A work vehicle pays its way every day it’s on a job, so the finance should fit around the work, not the other way round. Whether it’s a first ute for a new trade business or the fifth van in a delivery fleet, we can help you weigh the options and find a lender who understands commercial vehicles.

Allow roughly a minute to fill in the form. Sending it triggers no credit check, and we don’t pass your enquiry along to a string of lenders. Someone on our team reads the details, from the vehicle you’re after to how the business is trading, and gives you a call. Give us honest numbers on price, deposit and turnover, and the first option we suggest is far more likely to be the one that sticks.

Talk to us about your work vehicle →