Quick answer
Truck finance funds rigid trucks, prime movers, tippers and trailers for business use, usually through a chattel mortgage, hire purchase or lease secured by the truck. Lenders look at three things: your driving and industry experience, the truck's age, make and resale value, and whether you have work lined up to pay for it. Manufacturer finance arms and specialist asset lenders both compete for these deals.
Key points
- Lenders assess the driver, the truck and the work; strong evidence on all three gets the best terms
- Industry experience often matters more than how long the ABN has been registered
- Age of the truck at the end of the term limits what many lenders will fund on older units
- Manufacturer finance arms run their own low-doc programs for new trucks
- Fuel tax credits on public-road kilometres depend on the road user charge, which returned to 32.4 cents a litre from 3 August 2026
- Assets covered
- Rigids, prime movers, tippers, trailers
- Common structures
- Chattel mortgage, hire purchase, lease
- Typical term
- 3 to 7 years
- Security
- The truck or trailer
Picture an experienced driver who has spent twelve years behind someone else’s wheel. A freight company offers them a subcontract, but only if they bring their own prime mover. The ABN is three weeks old, the truck costs more than their house deposit did, and the bank’s online form asks for two years of financial statements they don’t have. This is one of the most common truck finance stories in Australia, and it’s very fundable, provided you understand what lenders are actually weighing.
What do truck lenders assess?
Truck finance decisions come down to three questions. Answer all three convincingly and the rest is paperwork.
The driver and the business
- Experience. Years driving trucks of a similar class, and years in the industry. Many lenders value this above the age of the ABN.
- Licence. The right class for the vehicle (MR, HR, HC or MC) held for a reasonable period.
- Credit history. Personal and business. A past default that’s been paid and explained is not automatically fatal.
- Assets. Owning property, even with a mortgage, often means a lower deposit or fewer documents.
The truck
- Make and model. Mainstream brands with a deep used market are easiest to fund, because the truck is the security.
- Age and kilometres. Plenty of lenders cap the truck’s age on the date of its final repayment. A ten-year-old prime mover might only be funded over three years.
- Source. Dealer sales are simplest. Private sales need proof of ownership, a clear PPSR search and sometimes an independent inspection.
- Specialised bodies. Tankers, refrigerated pantechs and custom cranes have a narrower resale market, so expect a closer look.
The work
- Contracts or subcontracts. A written haulage agreement, or a letter from the company you’ll subcontract to, shows where repayments will come from.
- Rates and fuel. A lender may ask how your per-kilometre or per-hour rate covers fuel, tyres, registration, insurance and the repayment.
- Concentration. Relying on one customer is normal for owner-drivers, but lenders like to know the relationship is stable.
Got a contract on the table and need a truck to service it? Send us the outline. A minute’s typing, and nobody looks at your credit file while you’re only asking.
What types of truck can be financed?
| Asset | Common users | Finance notes |
|---|---|---|
| Light and medium rigids | Couriers, removalists, tradespeople | Often treated like commercial vehicle finance; licence class matters |
| Heavy rigids and tippers | Earthmoving, civil, waste | Body and hoist included on the invoice; strong resale for mainstream makes |
| Prime movers | Linehaul and regional freight | Highest values; age and kilometres drive the term offered |
| Trailers (flat tops, curtainsiders, tankers, refrigerated) | Freight and logistics fleets | Can be financed with or separately from the prime mover |
| Specialist units (cranes, agitators, tilt trays) | Construction, towing, concrete | Narrower resale; more documentation expected |
Manufacturer finance or a specialist lender?
Most major truck brands have their own finance arms. As at October 2026, Daimler Truck Financial Services, which funds Mercedes-Benz, Freightliner and Fuso trucks, publishes a Fast Track Finance program that skips tax returns and financial statements for eligible buyers of new or demonstrator trucks (see our Daimler Truck Financial Services profile). Volvo Financial Services serves Volvo and Mack buyers and launched an operating lease for Volvo electric trucks in December 2025 (see our Volvo Financial Services profile).
Manufacturer finance tends to win on new trucks of that brand, buy-back guarantees and convenience at the dealership. Specialist asset lenders and banks tend to win on used trucks, mixed-brand fleets, private sales and borrowers who want one lender across several assets. Either way, compare offers on the total repaid across the term, not on the monthly figure alone. Our equipment finance calculator helps put competing quotes on equal footing.
Costs to budget for beyond the repayment
The finance is only one line of a truck’s running costs. Lenders know this, and a realistic budget makes your application more convincing.
- Registration and insurance. Heavy vehicle registration is handled by your state or territory transport authority, and charges vary by vehicle type and axle configuration.
- Fuel, tyres and servicing. Usually the biggest costs after the repayment.
- Fuel tax credits. Once a truck is above 4.5 tonnes GVM, the credit you get back for diesel burned on public roads equals the excise minus the road user charge. That charge was temporarily cut to 16.4 cents a litre in July 2026 and returned to 32.4 cents a litre from 3 August 2026, according to the ATO. A cash flow plan built on July’s credit rate will overstate what comes back on your BAS.
- Balloon. Pushing part of the price into a balloon eases the monthly bill, then asks for a large cheque when the truck has aged. Plan for it from the first month.
How does a typical truck finance deal run?
- Line up the work. Get the contract or subcontract arrangement in writing if you can.
- Choose the truck with resale in mind. The more mainstream it is, the more lenders will compete.
- Gather documents. Licence, ID, ABN and bank statements; add tax returns where they exist.
- Get quotes. From the manufacturer’s finance arm and at least one independent lender.
- Approval and inspection. The lender confirms the truck and runs a PPSR search on used units.
- Settlement. Funds go straight to whoever sold you the truck, and the keys come to you.
Pros, cons and alternatives
Truck finance keeps cash free for fuel and wages, matches repayments to the life of the asset, and usually needs no property. The trade-offs are a commitment that lasts years, a balloon to plan for if you choose one, and the chance that a softer used market leaves the loan bigger than the truck’s value.
If you’d prefer not to own, an operating lease moves resale risk to the lessor. If you already own unencumbered trucks and need working capital, sale and leaseback can release cash from them. Our guide to financing a truck goes deeper on the process, and owner-drivers should read business loans for owner-driver truckies.
Ready to get your next truck working?
Whether it’s a first prime mover to take on a subcontract or the next tipper in a growing fleet, the right finance gets the truck earning sooner. We speak with transport operators every week, including drivers whose bank wanted more history than they have.
The form takes a minute, give or take. We don’t check your credit when you submit it, and nothing gets forwarded to a crowd of truck financiers. A real person on our side weighs up your years in the seat, the unit you want and the contract behind it, and then phones you. Be straight with us about the price, your history and the work that’s locked in; that’s how we avoid wasting your time with options that won’t stick.
Frequently asked questions
Can I get truck finance as a new owner-driver?
Often, yes. Lenders weigh years behind the wheel and in the industry, the right licence class and a contract or regular subcontract work. A driver with a decade of experience setting up their own ABN is usually viewed very differently from someone new to transport, even though both ABNs are new.
How old can a used truck be and still be financed?
It depends on the lender and the make. Many set a limit on how old the truck can be when the final payment falls due, so an older unit may only be funded over a shorter term. Well-known makes with strong resale and documented service history give you the most room.
Do I need a deposit for truck finance?
Not always. Established operators with good credit and property can often finance the full price. Newer businesses, older trucks and private sales are more likely to need a deposit, which reduces the lender's exposure.
Can I finance the trailer with the prime mover?
Yes. Trailers can be funded on the same agreement or separately. Separate agreements give flexibility to sell or refinance one asset without touching the other; a combined deal can be simpler to manage.
Is manufacturer finance better than a specialist lender?
Manufacturer finance is convenient for new trucks from that brand and can include buy-back or low-doc programs. Specialist asset lenders are usually more flexible on used trucks, mixed brands and private sales. Compare the total cost of each in dollars.
What documents will I need?
Expect ID, driver's licence, ABN and GST details, recent bank statements, and for larger deals tax returns or BAS. A copy of any haulage contract or a letter from the business you'll subcontract to strengthens the application.