Truck Loans
From 5.99%
We have access to over 60+ different lenders
It’s part of our duty to ensure that you are receiving the best and stress-free equipment finance, truck loan pricing and lease term possible without any hidden fees and charges.
Get your commercial loans processed today!
30 years
$2.3 Billion
98%
Australia’s leading truck loan specialist.
AGM Finance is Australia’s leading truck loan specialist that has been helping customers secure the financing they need for years by leveraging the cheapest rates from a variety of lenders in the truck finance industry.
AGM Finance is able to provide personalised solutions to both professional truck drivers and truck owner operators alike.
Not only do we offer some of the most competitive rates, but our incredibly fast approval times mean that truck drivers can get back on the road quickly and affordably.
If you’re looking to apply for truck finance, contact AGM Finance today and experience why we are one of Australia’s most respected finance brokerage firms.
Delivering award-winning finance since 1996
How to Apply for a Truck Loan
Applying for a truck loan with AGM Finance is straightforward. Here is what to expect.
1. Submit a Quick Quote
Start by completing our online quick quote form or calling us directly. This gives us the basic details we need to begin, including the type of truck, approximate purchase price and your business situation. Submitting a quote has no impact on your credit score.
2. Lender Match
Your dedicated truck loan broker reviews your details and matches you with the most suitable lenders from our panel of more than 60. We look at rate, loan structure and any lender-specific criteria that affect approval.
3. Application and Documents
Once you’re ready to proceed, we prepare the formal application. We usually need proof of identity, your ABN and business registration, recent financials or bank statements, plus details of the truck you intend to buy.
4. Approval Within 24 Hours
Approval can come through within 24 hours for straightforward applications. More complex scenarios, such as new businesses or larger fleet purchases, may take longer.
5. Settlement and Delivery
After approval, we coordinate settlement with the seller or dealer. Once funds are transferred, you are free to take delivery of your truck and put it to work.
6. Enjoy Ongoing Support
We provide ongoing support throughout the duration of your loan. This ensures you receive the best service and assistance with any questions or concerns that may arise during the loan term.
I want to borrow…
Monthly Repayment
The cheapest rates & fastest approval turnaround times.
We shop for the best truck finance interest rates. It’s part of our duty to ensure that you are receiving the best and stress-free truck loan pricing and lease term possible without any hidden fees and charges.
Why Use AGM Finance for Your Truck Loan
AGM Finance has been arranging truck loans and commercial asset finance since 1996. For three decades, we have built a reputation for competitive rates, fast approvals and a service model that puts the borrower first.
- 60+ lender panel: More lender options means a better chance of finding the rate and structure that suits your business. We are not tied to a single bank.
- Specialist truck loan brokers: Our team understands the transport and logistics industry. That means practical advice, not generic loan processing.
- Australia-wide service: No matter where you operate across Australia, we can arrange your truck loan. Everything is handled over the phone and online.
- Award-winning track record: Multiple-time winners of Australia’s top asset finance broker awards, backed by over $2.3 billion in loans settled for clients nationwide.
- No credit score impact on enquiry: Requesting a quick quote does not affect your credit file. We only run a formal credit check once you are ready to proceed with an application.
1300 664 687
What is the difference between a truck loan and truck finance?
A truck loan is a straightforward borrowing arrangement where you receive a set amount with fixed repayments over an agreed term.
Truck finance is a broader term that covers multiple structures, each with different implications for ownership and tax treatment. If you want to compare options like chattel mortgage, lease and hire purchase, see our truck finance page.
What documents do I need for a truck loan?
Most lenders require proof of identity such as a driver licence, your ABN, recent financial statements or bank statements, and details of the truck you plan to purchase. Sole traders and newer businesses may need additional documentation.
Low-doc options are available for qualifying applicants with a good credit history and an established business. Your broker will provide a clear checklist before you begin.
Can I get a truck loan for a used truck?
Yes. We regularly arrange used truck loans for vehicles of various ages. The truck’s age and condition will affect the rate and maximum term available, but many lenders will finance used trucks up to 15 years old or older in some cases.
Can I get a truck loan for a private sale purchase?
Absolutely. You are not limited to buying through a dealer. We handle private sale truck loans regularly and manage the settlement process to make sure the seller is paid and any existing finance on the vehicle is cleared.
What deposit do I need for a truck loan?
Deposit requirements vary by lender and depend on the your asset backing, your credit profile and business history. Most lenders offer no-deposit options for strong applicants. As a general guide, a deposit of 10% to 20% is common when a deposit is required, but we can explore what is available for your situation.
How does a balloon payment affect my repayments?
A balloon payment reduces your regular repayments by deferring a portion of the total amount to the end of the term. For example, a 30% balloon on a $150,000 truck loan means your regular repayments are calculated on $105,000, with the remaining $45,000 due as a lump sum at maturity.
What loan term is best for a truck loan?
The most common truck loan terms are between three and five years. A shorter term means higher repayments but less interest paid overall. A longer term lowers repayments but costs more in total interest.
The right term depends on your cash flow, how long you plan to keep the truck and the asset’s expected useful life. Your broker can model different scenarios that are unique to your situation.
Can I refinance my current truck loan?
Yes. If your circumstances have improved since you took out your original loan, or if rates have come down, refinancing could save you money. We assess your existing loan, compare it to current options and manage the process if switching makes sense.
Can I finance multiple trucks for my fleet at once?
Yes. Fleet purchases are one of our specialities. We can structure multiple loans as part of a single submission, and lenders may offer volume-based pricing when several assets are being financed together.
Are there early repayment fees?
Some lenders charge an early repayment or early termination fee if you pay off the loan ahead of schedule. The amount varies by lender and product. We can factor this into the lender selection process if paying the loan off early is something you may want to do.
Can I include accessories or a body fit-out in the loan?
In many cases, yes. Items such as a tray body, refrigerated unit, toolboxes, GPS tracking or other fit-outs that are permanently attached to the truck can often be included in the loan amount. Talk to your broker about what the lender will cover.
Truck Loan Repayments
How much can I borrow for a truck loan?
There is no fixed cap, as the maximum amount depends on your financial position and the asset being financed. We have arranged truck loans from under $50,000 for light commercial vehicles through to well over $500,000 for specialised heavy vehicles and fleet packages.
Can I get a truck loan as a new business or startup?
Yes, though the options may be more limited compared to established businesses. Some lenders specialise in new-to-industry applicants and ABN holders with less than two years of trading history. A larger deposit or additional security can improve your chances of approval.
What type of truck finance do you need?
AGM Finance offer a broad range of commercial finance products for your truck, including chattel mortgage, commercial hire purchase, lease and rent to buy.
Whether you’re a sole trader or managing a growing fleet, we offer flexible loan options designed to help your business finance its truck needs. From a single business loan for a new truck to a structured package that covers multiple vehicles, we’ll help you secure the right funding for your specific business needs.
Choosing the Right Truck Loan Option
There are several ways to structure a truck loan. The right choice depends on cash flow and how long you plan to keep the vehicle. Here is a quick summary of the most common truck loans that Australian businesses use.
| Loan Feature | Why You Might Use It |
|---|---|
| Secured truck loan | The truck is used as security, which typically means a lower rate. Most commercial truck loans in Australia are structured this way. |
| Balloon payment | A lump sum (usually 10%–35%) deferred to the end of the term, reducing your regular repayments. Useful for preserving working capital. |
| Used truck loan | Both new and used trucks can be financed. Older vehicles may have shorter terms and slightly higher rates. We finance trucks of ALL ages. |
| Refinancing | If rates have dropped or your circumstances have changed, refinancing could reduce your repayments or unlock equity. |
For a detailed comparison of other structures such as chattel mortgage, finance lease, and hire purchase, visit our truck finance page.
Truck Loan Repayments
Before you start sourcing a truck, it helps to understand what the repayments will look like. Your monthly or weekly repayment depends on the loan amount, interest rate, term length and structure of the loan.
Use our truck loan calculator to get started.
Below are three common scenarios to give you a sense of what truck loan repayments might look like. These are indicative only and based on a rate of 5.99% p.a.
| Scenario | Loan Amount | Term | Balloon | Est. Monthly* |
|---|---|---|---|---|
| New rigid truck | $150,000 | 5 years | None | $2,900 |
| Used prime mover | $120,000 | 4 years | 20% | $2,374 |
| Fleet addition (new) | $200,000 | 5 years | 30% | $3,006 |
*Estimates only. Actual repayments depend on the lender, your credit profile and the asset being financed. Contact us for a personalised quote.
A longer loan term will reduce your monthly repayments but increase total interest paid over the life of the loan.
A balloon payment (sometimes called a residual) lowers regular repayments by deferring a lump sum to the end of the term. Your broker can walk you through which combination makes the most sense for your cash flow.
What Impacts Your Truck Loan Rate and Fees
Interest rates on truck loans vary based on your business profile and the truck you’re financing. Knowing what lenders assess helps you position the application clearly and improve the likelihood of securing competitive terms.
What Affects Your Truck Loan Rate
The interest rate you are offered depends on a combination of factors. Your deposit amount plays a significant role, as a larger deposit reduces the lender’s exposure and often results in a lower rate. The age and condition of the truck matter too: new trucks and late-model used trucks typically attract better pricing than older assets.
Lenders also assess your credit history and trading history. Established businesses with clean credit files and a consistent record of meeting financial obligations typically qualify for the most competitive rates. New businesses, or applicants with past credit issues, can still be approved, but the rate may be higher to reflect the lender’s assessment of risk.
Fees and Total Cost to Consider
Beyond the interest rate, it is worth understanding the fees that form part of the total cost of a truck loan. Common fees include an origination or establishment fee, monthly account-keeping fees, and early repayment charges if you pay the loan off ahead of schedule.
Not all lenders charge all of these fees, and in some cases we can negotiate to have them reduced or waived.
What “From 5.99%” Actually Means
Advertised rates like “from 5.99% p.a.” represent the lowest rate available under ideal conditions. To qualify, you would typically need a strong credit profile, a newer asset, and an established business.
The rate you are offered may differ based on the factors above. Your AGM Finance broker will always present you with the accurate pricing you qualify for, with no surprises at settlement.
Apply for Pre-Approval now.
Complete the quick online application with no effect on your credit score.
Get an Obligation-Free quote today.
We shop for the best interest rate so you don’t have to.