Truck Finance Melbourne

Interest rates vary based on your credit profile, business financials, the truck’s age and type, and current market conditions. Rates typically range from 5.95% to 9%, with established businesses and newer trucks generally securing lower rates. We compare offerings from 60+ lenders to identify your best available rate.

Deposit requirements differ between lenders and depend on your circumstances. Strong financial positions may qualify for no-deposit funding, whilst others might need 10-20%. Used trucks often require higher deposits than new vehicles. We assess your situation and present realistic options.

Yes, though options may be more limited. New businesses typically need a director who owns property or a larger deposit (usually 20% minimum). Some lenders specialise in start-up funding and will consider strong industry experience and a solid business plan. Our Low Doc products can assist businesses with limited financial history.

A chattel mortgage provides immediate ownership with the truck as security, allowing GST claims and depreciation deductions. You own the asset from day one. Hire purchase involves the lender owning the truck until final payment, after which ownership transfers. You can’t claim GST upfront, but the approval process is often simpler. The best choice depends on your business structure and tax position.

Yes, we arrange finance for private sales throughout Melbourne. The truck will need to meet lender age and condition requirements, and we’ll typically require a pre-purchase inspection. Many of our clients purchase from private sellers or auctions, and we facilitate these transactions regularly.

Pre-approval usually occurs within 24 hours once we have complete information. Unconditional approval and settlement typically take 3-5 business days for straightforward applications. Complex situations or less common vehicle types might extend this timeline. We always communicate realistic timeframes upfront.

Absolutely. Melbourne businesses refinance for various reasons: securing lower interest rates, releasing equity for business investment, or adjusting loan terms to better suit cash flow. We can assess your current loan and calculate whether refinancing makes financial sense for your situation.

A balloon payment is a predetermined lump sum due at your loan’s end, reducing monthly repayments throughout the term. Common balloon percentages range from 20-40% depending on loan duration. Balloons help cash flow but require planning for the final payment – either through refinancing, selling the truck, or paying out. We help determine appropriate balloon structures based on your business model.

We finance commercial trucks across most industries operating in Melbourne, including transport and logistics, construction, waste management, furniture removal, food distribution, and more. Some specialised uses or very high-risk industries might have limited lender options, but we typically find solutions for standard commercial applications.