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Business truck loans
Get the truck that keeps your business moving and let it start earning before it's paid off.
About
What is a business truck loan?
A business truck loan lets you buy or upgrade trucks for your operations and spread the cost over time, rather than having to pay it all upfront. You can use it to finance:
- New or used trucks
- Light commercial trucks
- Heavy-duty trucks
- Specialised trucks, like tippers, flatbeds and refrigerated models
Ways to use a business truck loan
- Replacing a truck that's becoming unreliable or costly to run
- Adding a truck to take on more (and bigger) contracts
- Financing a tipper, flatbed or refrigerated truck for specialised work
- Building out a fleet one truck at a time
Eligibility
You may be eligible for a business truck loan if your business:
- Has a mostly clean credit history (past credit issues are considered case by case)
- Has an active ABN or ACN and operates in Australia
Criteria vary between lenders, and the lender makes the final call.
Why it works
What are the benefits of getting a business truck loan?
Better operational efficiency
A newer truck means fewer breakdowns, lower maintenance costs and less downtime.
Potential tax advantages
Your loan repayments, running costs and the truck's depreciation may be tax-deductible.
Cash flow flexibility
Spreading the cost of the truck over time keeps more cash in hand for daily operations, growth or unexpected expenses.
Specialised trucks are eligible too
Tippers, flatbeds, refrigerated vehicles and other specialised types can all be financed, not just standard trucks.
Upgrade or expand your fleet
Whether you're looking to replace an older truck or grow your fleet to take on more work, a truck loan makes it achievable.
Is a business truck loan right for you?
It suits many businesses, but it's worth weighing up the trade-offs first.
Ask yourself
- Do I plan to keep this truck long enough to avoid owing more than it's worth?
- Am I likely to want to modify this truck or pay it off early?
- Would I rather have lower monthly repayments or pay less interest overall?
Potential drawbacks
- Trucks lose value over time, so you may owe more than the truck is worth if you sell it early.
- Some loan agreements have restrictions, such as limits on modifying the truck or early repayment fees.
- Beyond the principal amount, you'll also need to pay interest over the life of the loan.
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Business truck loans
Key features
- Loan amount
- From $5,000. Maximum varies by asset and business profile
- Term
- 1 – 7 years
Getting started
How to apply for a business truck 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.
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 loan term should I choose for my business truck?
Vehicle loan terms typically range from one to seven years. The best term depends on your cash flow, how long you plan to use the truck, and whether you prefer lower monthly repayments or a shorter overall loan duration.
How long does approval take for a business truck loan?
You could get approved in as little as 24 hours, depending on your application and the lender's assessment process.
What is a balloon payment on truck finance?
A balloon payment is a lump sum due at the end of your loan term. It lowers your monthly repayments, although it will increase the amount of interest you pay over the course of your loan.
Can I use a truck loan for multiple vehicles or just one?
A business truck loan can be used for one or multiple vehicles, but different loan types or structures may apply depending on how many trucks you want to finance.
Can I trade in my truck or refinance later?
Yes, you can both trade in your business truck or refinance your loan later. There may be additional costs involved, like an early termination or break fee, so take a look at your loan agreement.
Can I pay off my truck loan early?
You can generally pay off a business truck loan early, but you may have to pay early repayment fees. Make sure to check your loan agreement to know exactly what applies.
Do I need a deposit to get a truck loan?
You may be able to get a loan with little (10-20%) or no deposit. The vehicle itself often acts as collateral to offset the lender's risk.
Can I finance both new and used trucks?
Yes, a truck loan lets you finance both new and used vehicles. It's important to weigh in the pros and cons of each option: for example, new trucks are more expensive but less likely to have mechanical issues; while used ones are cheaper, but could lack the latest safety or tech features.
How much can I borrow for a truck loan?
You may be able to borrow $1,000,000+, depending on your business's financial health, borrowing power, and the lender's criteria.