Business vehicle finance questions, answered

Vehicles used in an Australian business: utes, vans, cars, light trucks, trailers, refrigerated and fitted-out vehicles, and fleets of several vehicles. Heavier trucks and other equipment can also be discussed. Vehicles for personal use aren't something we finance.

No. There's no credit check when you enquire. A credit check is only discussed once you've seen your options and want to apply.

No. One specialist handles your enquiry and approaches the lender that suits your deal. You won't be flooded with calls from companies you've never heard of.

Approval and settlement can move fast when the tax invoice or quote, your ID and recent bank statements are ready. Next-business-day settlement is possible for straightforward applications. Private sales, several vehicles or newer businesses can take a little longer.

A loan where your business buys and owns the vehicle from settlement, and the lender registers security over it until the loan is repaid. It's one of the most common ways Australian businesses finance vehicles.

Under a finance lease the lender owns the vehicle and your business pays to use it, with a residual value at the end. Under hire purchase the lender owns it until your final payment, then ownership passes to you. Your accountant can explain how each is treated for tax.

A balloon lowers your regular repayments by leaving a lump sum owing at the end. It suits businesses that plan to trade or sell the vehicle when the term ends, and it costs more overall. Use the fleet cost planner to see how a balloon changes what you pay down.

Yes. Several vehicles can usually be approved together, and lenders look at how the extra vehicles will be paid for — a new contract, more routes or more staff. Settling them in stages is often possible too.

Often, yes. Lenders may ask for a deposit, limit the vehicle's age or want to see contracts or industry experience. A shorter trading history changes the shape of the deal rather than ruling it out.

Yes, in many cases. Lenders look at the vehicle's age, value and condition, and for private sales they want proof of ownership and confirmation no finance is owing. Run a PPSR search on the VIN before paying anything.

Yes, but get pre-approved first. Auction houses usually expect payment within a short window, so having finance approved before you bid matters more than anywhere else.

Not always. Established businesses buying newer vehicles may not need one. A deposit or trade-in can help newer businesses, older vehicles or larger fleets get approved and lowers the amount you finance.

No. A novated lease is a salary packaging arrangement between an employer, an employee and a financier. Business vehicle finance is the business itself buying or leasing the vehicle. Which suits depends on who drives the vehicle and how it's used — your accountant can advise on the tax effects.

Past credit issues and ATO debt are considered case by case. Tell us upfront on the form — it helps us go straight to a lender that will look at your situation properly.

No. Every vehicle finance deal is priced on the business, the vehicle, the structure and the term, so a published rate would mislead more people than it helped. You'll know the real cost from a written quote before you commit.

Possibly, depending on your registration, the structure and how much the vehicle is used for business. The ATO treats cars differently from vehicles designed to carry a tonne or more, so talk to your accountant before choosing a structure.

Yes. If you own property, property-secured business loans from $20,000 to $5,000,000 are available, which some businesses use to fund several vehicles plus working capital. Mention any property you own on the form.

A real person reads your enquiry and calls you, usually within business hours. They'll confirm the details, explain your options and give you a document list if you decide to go ahead.