What is vehicle finance?
Vehicle finance provides your business with the funds to purchase cars, vans, trucks, or other commercial vehicles without paying the full cost upfront. You can spread repayments over an agreed term, making it easier to manage cash flow.
Vehicle finance can be structured as a loan or lease, and can be tailored to your business needs, whether it’s a single vehicle or an entire fleet.
Benefits of vehicle finance
Vehicle finance allows your business to access the vehicles it needs while keeping cash available for other priorities.
Predictable repayments
Fixed repayment schedules allow you to budget effectively.
Balloon payment options
Lower your regular repayments by including a final balloon payment at the end of the term, giving flexibility for cash flow planning.
Tax effective
Finance repayments and interest may be tax-deductible, providing potential financial advantages.
Access newer vehicles
Upgrade to newer models more easily, improving reliability, safety, and efficiency.
Protect your cash flow
Finance your vehicles without paying a large lump sum upfront, keeping cash available for other business needs and operational expenses.
Quick and easy approval
Applications can be processed quickly, helping your business get vehicles on the road without unnecessary delays.
Things to consider when applying
Categories of vehicles covered
Vehicle finance can be used to purchase or lease a wide range of vehicles for your business, including:
Passenger cars and sedans
SUVs and 4WDs
Vans and light commercial vehicles
Trucks and heavy commercial vehicles
Motorcycles
Specialty vehicles such as utes, trailers, or work vehicles
Eligibility criteria
Vehicle finance is designed to be accessible for Australian businesses. To qualify, you generally need:
Minimum 6 months trading history with an ABN
Satisfactory business and personal credit score
Business owner 18 years or older
Australian citizens, permanent residents, or eligible visa holders
Vehicle finance summarised
Loan amount
From $10,000 up to $1,000,000+
Loan term
12 to 84 months
Repayment schedule
Weekly, fortnightly, or monthly depending on lender
Purpose
Purchase or lease vehicles for business use
Security options
Secured against the vehicle
How to apply for vehicle finance
Applying for vehicle finance is straightforward if you follow these steps:
Step 1:
Determine Your Eligibility
Provide basic business information, details of the vehicle(s) you want to finance, and consent. We’ll review your business profile to determine eligibility and calculate borrowing capacity without affecting your credit score.
Step 2:
Finding the Right Lender
We compare lenders to find the best option for your vehicle finance needs. Your application is submitted, and we manage the process on your behalf.
Step 3:
Approval and Settlement
Once approved, we organise the settlement so funds are transferred and your vehicle purchase or lease can proceed, giving your business quick access to the vehicle
Let's get started