Business car loan for small businesses
Get the vehicle your business needs without draining the cash it runs on.
Requesting a quote has no impact on your credit score.
About
What is a business car loan?
A business car loan, often structured as a chattel mortgage, allows you to purchase a vehicle for your business while spreading the cost over time.
You own the vehicle from day one, but it's used as security for the loan, much like a mortgage. Once it’s paid off, the car is fully yours.
Typical uses
- Renovating your business premises
- Moving to a new location
- Buying inventory
- Hiring and paying employees
- Buying equipment
- Increasing working capital
- Covering marketing costs
- Making tax payments
Eligibility
You may be eligible for a Business car loan if your business:
0 of 3 ready. Tick what you already have.
Specific criteria can vary between lenders and products.
Requesting a quote has no impact on your credit score.
- Replacing a vehicle that's becoming unreliable or costly to maintain
- Adding a vehicle to support extra staff, routes or jobs
- Buying a vehicle for a new contract or job
- Building out a fleet one vehicle at a time
You may be eligible for a business car loan if your business:
- Has an active ABN or ACN
- Is registered and operating in Australia
- Has been trading for at least 6-12 months
Specific criteria can vary between lenders and products.
Why it works
The benefits of business vehicle finance
Free up cash flow
Spread the cost of the vehicle over time and keep more cash in your business.
Existing debt doesn't usually affect approval
Lenders often focus on the value of the vehicle rather than your current debt levels.
Eligible for tax benefits
You may be able to claim immediate deductions under government initiatives.
Lower interest rates
The vehicle secures the loan, so interest rates are typically lower than unsecured options.
Unlock value from an old vehicle
Selling an existing vehicle and financing a new one can boost cash flow without disrupting operations.
- Would an early payoff penalty change my plans for this loan?
- Have I asked for the full breakdown of fees, not just the headline rate?
- Is this a vehicle that's likely to hold its value over the loan term?
- Some lenders charge a penalty for paying off the loan early.
- Extra fees and charges may apply.
- If the vehicle depreciates too fast, you could end up owing more than it’s worth.
Business car loan
Key features
- Loan amount
- From $5,000. Maximum varies by asset and business profile
- Term
- 1 – 7 years
Requesting a quote has no impact on your credit score.
Getting started
How to apply for a business car loan
Step 1: Get a quote
Tell us what your business needs and get quotes from 95+ bank and non-bank lenders.
Step 2: Get approved
Confirm your quote and we'll manage the application with your lender, so you can focus on running your business.
Step 3: Get funded
Sign your finance documentation and receive funding. It is that simple.
Requesting a quote has no impact on your credit score.
Awarded and sorted
Awards & key milestones
Our milestones are a testament to the amazing people behind Valiant.
Our panel
95+ business lenders
in your back pocket
- All lenders
- Equipment
- Vehicle
- Working capital
- Invoice
- Trade & supply chain
- Commercial property
- Construction
Why Valiant
Just one simple application.
Let us do the heavy lifting, comparing the panel and negotiating. You get all the options side by side and choose the one that’s right for you.
Dedicated specialists by your side.
You get a personal specialist who knows which lenders suit your industry and how to structure a deal so it actually works for you.
Your credit score, protected.
Explore with no credit check. See all your options, compare them properly, and choose with confidence.
30,000+ SMEs we've worked with.
Construction, hospitality, manufacturing, healthcare. Whatever your business needs, we know how to get it funded with the right loan.
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FAQs
What are the interest rates for equipment finance?
With Valiant, vehicle finance interest rates start from 6.99% p.a., but the exact rate you receive may vary based on factors like your business's credit score, the type of vehicle you're financing, and the structure of your application.
Can I get a loan for a second-hand vehicle?
Yes, you can finance used cars for your business. Keep in mind that loan terms may be shorter for older vehicles.
What types of vehicles can I finance?
You can finance most new or used vehicles used for business purposes—including cars, vans, trucks, utes, motorcycles, electric and hybrid vehicles, luxury cars, and speciality vehicles like refrigerated trucks or trailers.
What types of business vehicle loans can I access?
There are three main ways to finance business vehicles:
- Equipment loan: Your lender will provide you with funding to purchase a business vehicle (which you'll own from day one) and they’ll then use it as collateral in case you default on your loan.
- Hire-purchase agreement: Your lender will purchase a car on your behalf for you to borrow. They’ll own the vehicle until you pay it off in full—in which case you’ll own it outright.
- Term loan: Secured and unsecured term loans can be used for many business purposes, including investing in assets. Your lender will give you a lump sum and you’ll make regular repayments (usually monthly).
How can I apply for a business car loan?
Applying for business vehicle finance is as simple as filling out our two-minute form. Our lending experts will then get in contact to confirm your details and find the right type of vehicle finance for your needs.
What are the requirements for corporate car finance?
Every lender has different requirements, and each application form will have its own set of questions. At the very least, for most business loans, you can expect to provide business registration details, financial, tax and cash flow statements, and balance sheets.
How do business car loans work?
A business car loan provides you with a lump sum of money to buy a car for your business, with the cost being spread out over time. You'll own the vehicle from the get-go, but it serves as collateral for the loan. Once the loan is fully repaid, the car is fully yours, no strings attached.