Business Vehicle Finance

Finance your next business vehicle with access to 50+ lenders and fast approvals.

Whether you're purchasing a car, SUV or light commercial vehicle through your ABN, we compare options across our full lender panel to find the right structure and rate for your situation.

Chattel mortgage, finance lease and hire purchase options available for new and used vehicles, with approvals on straightforward deals in as little as 24 hours.

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How Business Vehicle Finance Works

Most business vehicle finance is structured as a chattel mortgage. The lender funds the vehicle purchase and you take ownership from settlement day. You make fixed monthly repayments over a set term, typically 2 to 7 years, and you can include a balloon payment at the end to keep your monthly costs lower. Chattel mortgage is the most popular structure because it allows you to claim the GST on the purchase price as an input tax credit, deduct the interest on your repayments, and depreciate the vehicle over its effective life. For GST registered businesses, this is usually the most tax effective way to finance a vehicle.

A finance lease is the second most common option. Under this structure, the lender retains ownership of the vehicle and leases it to your business for the agreed term. Repayments are treated as an operating expense and can be fully deductible. This suits borrowers who prefer to keep the vehicle off their balance sheet or want a simpler approach where the entire repayment is claimed as a deduction.

Hire purchase is a third option where the lender purchases the vehicle and hires it to you with the option to take ownership once the final payment is made. This structure is less common for standard business vehicles but still has its place in specific situations.

Every deal is different. Your broker recommends the right structure based on your business type, tax position and how you intend to use the vehicle, because the structure that works best for one borrower can cost another more in tax or cash flow.

What You Can Finance with Business Vehicle Finance

Business vehicle finance covers new and used cars, SUVs, dual cab utes, light commercial vehicles and anything registered for road use that's primarily for business purposes. The vehicle needs to be used more than 50% for business to qualify for commercial finance structures.

New vehicles from dealerships are the most straightforward to finance. You'll see the widest range of lender options and the sharpest pricing on new stock because the asset value is established and the risk to the lender is low.

Used vehicles are just as financeable. Most lenders price used vehicles under five years old similarly to new. Vehicles up to 10 to 12 years old at the end of the loan term are accepted by most mainstream lenders. Beyond that age, specialist lenders can still fund the deal at slightly higher rates.

Private sales are accepted by most lenders. You'll need a PPSR check to confirm the vehicle is clear of existing finance or encumbrances, and some lenders require a mechanical inspection report. Dealer purchases are simpler because the dealership handles settlement documentation directly.

Loan amounts typically range from $10,000 to $150,000 for standard business vehicles. Terms run 1 to 7 years depending on the lender and asset age. No deposit is required on most deals for established businesses, though putting money down reduces your repayments and can strengthen approval on tighter files. If you're looking for a dedicated ute finance or van finance solution, we have specific options for those vehicle types as well.

Who Business Vehicle Finance Is For

Business vehicle finance is available to any ABN holder who uses a vehicle primarily for work. That covers sole traders, partnerships, companies and trusts across a wide range of industries.

Construction and trade businesses financing dual cabs and SUVs for site access. Real estate agents and sales representatives who spend their days on the road. Healthcare professionals providing mobile or home visit services. Couriers, delivery drivers and logistics operators adding vehicles to their fleet. Agricultural businesses in regional areas that rely on a capable vehicle every day. Professional services firms in accounting, consulting and legal. If you hold an ABN and drive for work, there's a business vehicle finance solution for you.

Most mainstream lenders require an ABN registered for at least two years. Businesses with 12 months of ABN registration can find options through selected lenders, particularly with a clean credit history. If your ABN is under 12 months old, specialist lenders can assist, though rates tend to be higher and a deposit may be needed.

Low documentation options are available for established businesses that don't have full financial statements prepared. These are assessed on ABN age, BAS lodgements or bank statements rather than tax returns. If you're exploring broader business finance options or need a business loan alongside your vehicle, we can structure both through the same conversation.

Why Use a Broker for Business Vehicle Finance

Business vehicle finance sits at the intersection of asset lending and business lending, and different lenders assess these deals in very different ways. Some lenders weight the vehicle value heavily and treat the business as secondary. Others focus on the borrower's trading strength and view the vehicle as just the security. Knowing which lender suits which scenario is the difference between a competitive rate and an unnecessary knockback.

A broker compares your deal across 50+ lenders in a single conversation. That includes major banks, specialist vehicle financiers and commercial lenders that you won't find by walking into a single branch or applying through a comparison site. Each lender has different policies on vehicle age, ABN tenure, deposit expectations and pricing, and those policies change regularly.

For business vehicles specifically, the finance structure matters as much as the rate. A chattel mortgage, finance lease and hire purchase all produce different tax outcomes and cash flow profiles. A broker structures the deal to match your business, not the lender's default product. If your situation involves any complexity at all, whether that's a new ABN, a previous credit issue, a private sale or a vehicle over a certain age, a broker saves you from applying to the wrong lender and burning a credit enquiry for no result.

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Compare options across 50+ lenders with no obligation. Tell us what you're looking to finance and we'll come back to you with a tailored solution.

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Getting Business Vehicle Finance

Step 1: Tell Us About the Vehicle

Share the details of the vehicle you're looking to purchase or have already found. New or used, dealer or private, make and model, and the purchase price. If you haven't settled on a vehicle yet, we can provide an indication of what you're likely to be approved for so you can shop with confidence.

Step 2: We Find the Right Lender

We compare your deal across our panel of 50+ lenders and match you with the best fit for your situation. You'll receive a clear breakdown of the rate, repayments, fees and the recommended finance structure before anything is submitted. Most straightforward business vehicle applications are approved within 24 to 48 hours.

Step 3: Settlement and Collection

Once approved, we handle the settlement paperwork with the lender and the seller. For dealer purchases, funds are sent directly to the dealership. For private sales, we coordinate payment and make sure the title transfers cleanly. You collect the vehicle and get on the road.

Frequently Asked Questions

What is business vehicle finance?

Business vehicle finance is a loan used to purchase a car, SUV or light commercial vehicle for business use. The vehicle must be used more than 50% for business purposes to qualify for commercial finance structures. Common options include chattel mortgage, finance lease and hire purchase, each with different ownership arrangements and tax implications. A broker helps you choose the right structure and lender based on your business type and financial position.

What is the difference between a chattel mortgage and a finance lease?

With a chattel mortgage, you own the vehicle from settlement and the lender holds a mortgage over it as security. You can claim the GST on the purchase price, depreciate the asset and deduct the interest on repayments. With a finance lease, the lender owns the vehicle and leases it to your business. Repayments are treated as a fully deductible operating expense. The right choice depends on your business structure and tax position, so it's worth discussing the detail with your accountant.

Can I finance a car through my business?

Yes. Any ABN holder can finance a vehicle through their business provided the vehicle will be used more than 50% for business purposes. Sole traders, partnerships, companies and trusts are all eligible. The finance is assessed based on your business trading history, ABN age and credit profile rather than just your personal income.

Do I need a deposit for business vehicle finance?

Not in most cases. Most lenders offer no deposit options for established businesses with a clean credit history. Putting money down will reduce your monthly repayments and can strengthen your application if the file has any complexity, such as a newer ABN or a previous credit issue. Your broker will advise whether a deposit improves your position with a specific lender.

How long does business vehicle finance approval take?

Straightforward applications are typically approved within 24 to 48 hours from full submission. Clean files with established ABNs and clear credit can sometimes be approved the same day. More complex deals involving newer ABNs, credit history issues or higher value vehicles may take 3 to 5 business days depending on the lender's assessment requirements.

Can I finance a used car for business use?

Absolutely. Most lenders price used vehicles under five years old similarly to new for business vehicle finance purposes. Vehicles up to 10 to 12 years old at the end of the loan term are accepted by most mainstream lenders. Older vehicles beyond that range can still be financed through specialist lenders at slightly higher rates.

What ABN requirements apply to business vehicle finance?

Most mainstream lenders require an ABN registered for at least two years. Some will consider businesses with 12 months of ABN registration if credit history is clean. For ABNs under 12 months, specialist lenders are available with slightly higher rates and a deposit may be required. GST registration is preferred by most lenders but is not always a strict requirement.

Can I buy a business vehicle through a private sale?

Yes. Private sale purchases are accepted by most lenders for business vehicle finance. You'll need a PPSR check to confirm the vehicle has no existing finance or encumbrances registered against it, and some lenders require a mechanical inspection report. Your broker handles the settlement process to make sure funds are released correctly and the title transfers to you.

What tax benefits come with business vehicle finance?

The tax treatment depends on the finance structure you choose. With a chattel mortgage, you can typically claim the GST on the purchase price as an input tax credit, deduct the interest on repayments and depreciate the vehicle over its effective life. With a finance lease, repayments are generally treated as a deductible business expense. The specific benefits depend on your business structure and the percentage of business use, so we always recommend discussing the detail with your accountant.

Is business vehicle finance available for new ABN holders?

Yes, though lender options are more limited for newer businesses. Most mainstream lenders require at least 12 to 24 months of ABN registration. For ABNs under 12 months, specialist lenders can assist with business vehicle finance. Expect higher rates and potentially a deposit requirement. Having a clean personal credit history and relevant industry experience helps strengthen the application.

What is the 50% business use rule for vehicle finance?

To qualify for commercial business vehicle finance structures such as chattel mortgage, finance lease or hire purchase, the vehicle must be used more than 50% for business purposes. This is declared on your finance application. If the vehicle is used less than 50% for business, it should be financed under consumer credit legislation as a personal car loan, which comes with different product options and borrower protections.

Can I include a balloon payment on a business vehicle loan?

Yes. A balloon payment, also called a residual, is a lump sum due at the end of the loan term. Including a balloon reduces your monthly repayments during the loan, which helps with cash flow. When the term ends, you can pay the balloon outright, refinance the remaining amount, or trade the vehicle in and use the equity to cover it. Most lenders allow balloon payments on business vehicle finance.

How do I choose between financing and leasing a business vehicle?

It depends on whether you want to own the vehicle or treat it as an ongoing operating cost. Financing through a chattel mortgage gives you ownership from day one and works well if you plan to keep the vehicle long term or want to claim depreciation. A finance lease keeps the vehicle off your balance sheet and simplifies the tax treatment with fully deductible repayments. Your broker and accountant can help determine which approach suits your business best.

What documents do I need to apply for business vehicle finance?

For a standard application, you'll typically need proof of ABN registration, identification such as a driver's licence plus one other form of ID, details of the vehicle you're purchasing and your business financials. Financials may include recent BAS statements, business bank statements or tax returns depending on the lender. Low documentation options are available for established businesses that don't have full financials prepared, where assessment is based on ABN history and bank statements instead.

Why should I use a broker for business vehicle finance instead of going to a bank?

A broker compares your deal across 50+ lenders in one conversation, including major banks, specialist vehicle financiers and commercial lenders. Going directly to one bank means you see one set of terms and one credit policy. A broker knows which lender fits your specific situation, whether that's based on vehicle age, ABN tenure, credit history or the deal size. A broker also recommends the right finance structure for your tax position and cash flow, which a single lender is unlikely to do because they only offer their own products.

Ready to Finance Your Next Business Vehicle?

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