Vehicle Finance

Whether you're adding a work ute, replacing a company fleet, or buying a prestige vehicle under your ABN, Sierra Finance gives you access to 50+ lenders through one application.

We're a Melbourne based vehicle finance broker that handles everything from standard business vehicles through to trucks, buses, classic cars, and specialist purchases.

We structure your file around your business and match it to a lender that fits, so you're not wasting time with banks that were never going to say yes.

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Our Lenders

What You Can Finance with Vehicle Finance

We arrange vehicle finance for Australian businesses across every category. New, used, dealer, private sale, and auction purchases across every make available in this market. Each vehicle type has its own lending considerations, and the right lender changes depending on what you're buying and how your business is structured.

Utes

Utes are the most commonly financed business vehicle in Australia. From brand new HiLux and Ranger dual cabs through to older single cab workhorses, we finance utes across every make and at every price point. Accessories like canopies, trays, toolboxes, and bull bars can usually be bundled into the loan when the total sits within the lender's loan to value ratio.

Learn more about ute finance

Vans

Whether it's a refrigerated delivery van, a courier vehicle, or a fully fitted mobile workshop, we finance vans for businesses across every industry. Used and high kilometre vans that mainstream lenders decline can often be placed with specialist lenders in our panel. Fitout costs can usually be included in the finance when invoiced at the point of purchase.

Learn more about van finance

Trucks

From light rigids through to prime movers, truck finance involves a different lender conversation than standard vehicle finance. Age policies are more flexible on trucks than cars because they hold their value differently, and many lenders will fund trucks well beyond the age limits that apply to passenger vehicles. Whether you're an owner operator buying your first truck or an established fleet adding capacity, we know which lenders have genuine appetite for your situation.

Learn more about truck finance

Business Vehicles

Company cars, SUVs, and sedans purchased under an ABN for business use. The finance structures are the same as any other business vehicle, but lender appetite varies significantly by make. Japanese and Korean manufacturers get approved easily across most of our panel. European marques like BMW, Audi, and Mercedes attract more caution because the depreciation profile is steeper, and some lenders have outright brand restrictions on older European models. We match your application to a lender with genuine appetite for the make and model you're buying.

Learn more about business vehicle finance

Fleet Vehicles

Businesses adding or replacing multiple vehicles need a different approach. Rather than running individual applications for each vehicle, fleet finance can be structured as a facility or line of credit. The lender assesses the business, sets a limit, and vehicles are drawn against it as needed. This reduces paperwork, speeds up subsequent approvals, and can attract better pricing than individual files processed separately.

Learn more about fleet finance

How Vehicle Finance Works

Most business vehicle finance in Australia is structured as a chattel mortgage. You own the vehicle from day one, make fixed monthly repayments, and claim the interest and depreciation as tax deductions. For businesses on a cash accounting method, this is the standard structure and it works the same way whether you're financing a work ute, a company sedan, or a prestige SUV.

Finance leases are the alternative for businesses that want the vehicle off balance sheet or plan to turn vehicles over on a set cycle. The lease payments are treated as an operating expense, which suits businesses on an accrual accounting method. Fleet operators and businesses that replace vehicles every three to four years often find leasing more practical than owning outright.

The structure you choose depends on your accounting method and tax position, not the vehicle itself. What does change between vehicle types is the balloon strategy. A Toyota HiLux holds its value well, so a higher balloon at end of term carries less risk. A European prestige vehicle depreciates faster, so the balloon needs to be more conservative. We walk you through the options so the structure matches your situation, and we always recommend confirming the tax position with your accountant before locking anything in.

Who Vehicle Finance Is For

Vehicle finance through Sierra Finance is for anyone buying a vehicle for business use in Australia. That includes tradies upgrading from a personal vehicle to something registered under the business, small business owners purchasing their first company car, delivery businesses expanding capacity, and companies replacing ageing vehicles that are costing more in maintenance than they're worth.

We also work with borrowers who've been quoted by their bank and want to see if a broker can do better, and with people who've been declined and need a specialist lender. Bank declines on vehicles are more common than most people realise, particularly on older models, high kilometre vehicles, and prestige makes. A decline doesn't mean the vehicle can't be financed. It usually means the application went to the wrong lender.

First time ABN holders who don't have two years of financials can also access vehicle finance through low documentation options. If your situation doesn't fit a standard bank application, talk to us before applying anywhere else and putting unnecessary enquiries on your credit file. The same applies if you're financing vehicles alongside machinery or equipment for your business. We can structure multiple deals through the same process.

Why Use a Broker for Vehicle Finance

The vehicle finance market is one of the most competitive lending categories in Australia. Banks, non bank lenders, fintech platforms, and dealer finance all compete for the same business. That sounds like it should work in the borrower's favour, but in practice it creates confusion and wasted applications.

Every lender has different policies on vehicle age, make, kilometres, borrower profile, and finance structure. A lender that offers great rates on new vehicles might decline a five year old European performance car outright. A bank that funds vehicles up to ten years old might cap at end of term, not at the date of purchase, which catches borrowers off guard when they apply on something that seems well within range.

A broker cuts through all of that. We know which lenders fund what, which ones are competitive on used vehicles versus new, which ones have appetite for prestige makes, and which ones will look at new ABN holders or non standard credit situations. One application to us accesses 50+ lenders. One application directly to a bank accesses one lender and creates a credit enquiry on your file regardless of the outcome.

For businesses buying trucks or heavy vehicles as well as standard vehicles, we handle both through the same process. Different lenders, different policies, same broker managing the whole thing.

Get a Free Vehicle Finance Quote

50+ lenders, one application. We find the right match so you don't waste time with the wrong bank.

Get a Free Quote

Getting Vehicle Finance

Step 1: Tell Us What You Need

Call or submit an enquiry with the vehicle type, approximate amount, and a bit about your business. We don't need a full application upfront. Most initial conversations take five minutes, and we can usually tell you straight away whether your file is straightforward or needs specialist lender attention.

Step 2: We Structure Your File

We match your vehicle and business profile to the right lender, structure the application for the best outcome, and handle the submission. This is where the broker value sits. We position your file based on what each lender actually wants to see, not a one size fits all application.

Step 3: Get Approved and Settle

Approvals typically come through within 24 to 48 hours. Once approved, we manage the settlement, whether that's coordinating with a dealer, handling a private sale directly, or managing multi vehicle settlements for fleet purchases. For private sales, we run the PPSR check, arrange any required inspections, and manage the payment to the seller.

Frequently Asked Questions

What types of vehicles can I finance for business use?

Any vehicle purchased for business use can be financed. This includes utes, vans, sedans, SUVs, four wheel drives, trucks, buses, luxury and prestige vehicles, classic and vintage cars, and fleet vehicles. We arrange finance for new and used vehicles from any make available in Australia, whether purchased through a dealer, private seller, or at auction. The finance structure is the same across all vehicle types. What changes is the lender selection, because different lenders have different appetite for different makes, ages, and vehicle categories.

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

A chattel mortgage means you own the vehicle from settlement and make fixed repayments over the term. The interest and depreciation are tax deductible, and you can claim the GST on your next BAS. A finance lease keeps the vehicle off your balance sheet, with payments treated as an operating expense. Which one suits your business depends on your accounting method and tax position. Chattel mortgages are the most common structure for businesses on a cash accounting method. Finance leases suit businesses on accrual accounting or those that turn vehicles over on a set cycle. Talk to your accountant about which structure gives you the best outcome.

Can I finance a used or older vehicle for my business?

Yes. We finance used vehicles regularly, from late model stock through to older workhorses with high kilometres. Most lenders fund vehicles up to 12 to 15 years of age at end of term, but policies vary significantly between lenders and between vehicle types. Some will decline a seven year old European sedan while others fund it without issue. Trucks and commercial vehicles often attract more age flexibility than passenger cars because of their different depreciation profiles. We know which lenders have appetite for older vehicles and which ones are more conservative.

What is the maximum age limit for vehicle finance?

It depends on the lender, the make, and the vehicle type. Most mainstream lenders cap at 12 to 15 years old at end of term, not at the time of purchase. A 10 year old vehicle on a five year loan would be 15 at end of term, and some lenders won't go that far. Vehicles with strong resale like Toyota and Ford attract more flexibility on age than European makes that depreciate faster. Trucks and commercial vehicles often get more generous age limits than passenger cars. Classic vehicles are assessed entirely differently, based on valuations rather than age.

Can I get vehicle finance with a new ABN?

Yes. Low documentation options are available for new ABN holders, including businesses trading for less than 12 months. Approval depends on your overall financial position, the vehicle you're purchasing, and the lender's risk appetite. We match new ABN applications to lenders that specialise in this category rather than sending them to a bank that requires two years of financials. A stronger deposit or a vehicle with solid resale value can improve the terms available to you.

Do I need a deposit for vehicle finance?

Not always. Many lenders offer no deposit finance, particularly for borrowers with strong credit and established businesses. Whether a deposit is required depends on the vehicle, your profile, and the loan to value ratio. Vehicles with strong resale values are more likely to attract no deposit terms. If a deposit is needed, it's typically to bring the loan to value ratio into line with what the lender requires. Prestige and older vehicles are more likely to need a deposit than mainstream late model vehicles.

What is a balloon payment on vehicle finance?

A balloon, also called a residual, is a lump sum payable at the end of the loan term. It reduces your monthly repayments during the loan but means you owe a final amount when the term ends. At that point you can pay it out, refinance it, or trade the vehicle in. The right balloon amount depends on the vehicle's expected resale value at end of term. A HiLux that holds 60% of its value after three years can support a higher balloon than a European luxury vehicle that might only retain 40%. Setting the balloon too high relative to the vehicle's future value creates a shortfall at end of term.

Is vehicle finance tax deductible?

The tax treatment depends on the finance structure you choose. With a chattel mortgage, the interest and depreciation are deductible. With a finance lease, the lease payments are deductible as an operating expense. GST treatment also varies between structures. The vehicle must be used for business purposes to claim deductions. If you use the vehicle for both business and personal purposes, only the business portion is deductible. Talk to your accountant about which structure gives you the best outcome for your situation.

How quickly can vehicle finance be approved?

Most applications are approved within 24 to 48 hours once we have the required information. Straightforward files on new or late model vehicles with strong borrower profiles can sometimes be approved same day. More complex scenarios involving older vehicles, new ABN holders, prestige makes, or non standard credit situations may take a few extra days while we work through the detail with the lender. We'll give you a realistic timeline upfront so you know what to expect before we submit.

How does vehicle finance work for private sales?

The loan structure and rates are the same as dealer finance. The process is slightly more involved because there's no dealer managing the settlement. We run a PPSR check to confirm no existing finance or encumbrances on the vehicle, arrange any required valuations or inspections, and manage the payment directly to the seller. Some lenders require an independent inspection for private sales above a certain value or above a certain age. The key is lender selection, because not all lenders handle private sales the same way, and some add restrictions that others don't.

Can I finance a bus for my business?

Yes. We finance buses for charter operators, tourism businesses, schools, community organisations, and companies running staff transport. Buses sit outside standard vehicle lending criteria because the secondary market is smaller and lender appetite is more limited. Not all lenders in the market will fund buses, but several in our panel do so regularly. Factors that affect approval and pricing include the bus type, seating capacity, age, kilometres, and your trading history. We place bus finance with lenders that understand the category rather than sending it to a generalist that's likely to decline.

How does finance work for luxury and prestige vehicles?

Prestige vehicle finance follows the same structures as standard vehicle finance, but lender selection matters more. Luxury vehicles depreciate faster in the early years, which affects the balloon amounts lenders will allow and the loan to value ratios they'll accept. Some lenders have brand restrictions on European makes or won't fund certain models above a particular age. Grey imports and parallel imports add further complexity because not all lenders will accept them. We work with lenders that have genuine appetite for prestige vehicles rather than sending your application somewhere it will be declined.

Can I finance a classic or vintage vehicle?

Yes, but the process is different from standard vehicle finance. Classic vehicles are assessed on condition, provenance, and independent valuations rather than automated book values. Only a small number of lenders have appetite for this category, and the assessment takes longer than a standard approval. The lender will typically require an independent valuation from a recognised valuer, and the vehicle's documentation and history matter more than with a standard purchase. We match classic vehicle applications to the handful of lenders that genuinely understand this market.

What happens if my bank declines my vehicle finance application?

A bank decline doesn't mean the vehicle can't be financed. It usually means the application went to a lender whose policies don't fit your situation. Banks have rigid criteria on vehicle age, make, kilometres, and borrower profile. We access 50+ lenders with different policies and risk appetites, and we can often find approval where a bank has said no. Talk to us before applying elsewhere, because every application creates a credit enquiry on your file. Multiple enquiries in a short period can make subsequent applications harder, so getting the lender right the first time matters.

Can I refinance an existing vehicle loan?

Yes. If your current loan has a higher rate than what's available now, or if you want to adjust repayments or extend the term, refinancing may be worth looking at. We assess your current loan, compare it against what we can source from our 50+ lender panel, and advise whether refinancing would genuinely save you money after factoring in any break costs or fees on the existing facility. Refinancing only makes sense if the saving outweighs the cost of switching, and we'll tell you upfront if the numbers don't stack up.

What Our Clients Say About Us

Ready to Finance Your Next Vehicle?

Tell us the vehicle, the amount, and a bit about your business. We'll come back to you with options, usually the same day.

Client Testimonials

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