Lowest Commercial Rates from 6.59%
Rate provided as a guide only. Subject to lender credit assessment. Additional fees & charges may apply.
Fast, flexible business vehicle finance for all ABN holders
Buying new or used commercial vehicles? Our brokers access the widest commercial lender panel in Australia to find the best deals on all dealer, auction, and privately-sourced vehicles.
All trades and industries qualify to apply for our low rate business vehicle finance options, including established businesses or start-ups and businesses with less than 2 years’ trading history.
✔ 24-hour approvals
✔ Simple, Low doc application process
✔ Flexible repayment options
✔ Tailor loan terms to suit cash flow requirements
✔ Finance accessories under the same tax invoice
Also available to:
✔ New ABN registrations & recently qualified trades
✔ Non GST registered businesses
✔ Impaired credit borrowers
Your Trusted Commercial Finance Specialists
How does business vehicle finance work?
Business vehicle finance allows you to purchase a vehicle for your business without using all your available cash upfront. A lender provides the funds to purchase the vehicle, and your business repays the loan through regular repayments over an agreed term. Depending on the finance structure selected, your business may own the vehicle from the beginning or have ownership transfer at the end of the agreement. The right option depends on your cash flow requirements, tax position, and how long you plan to keep the vehicle.
How do I qualify for business vehicle finance?
Qualifying for business vehicle finance requires an active Australian Business Number (ABN) and an 'acceptable' credit profile (business and/or personal). Generally speaking, established businesses with an active and acceptable credit file pre-qualify without the need to provide evidence of income and may self-declare their ability to meet their repayments. Restrictions may apply to the qualifying loan amount depending on the borrower profile.
What information do I need to provide when applying for business vehicle finance?
The information required will depend on your circumstances, but typically includes identification, ABN, and business details, information about the vehicle you intend to purchase, and (verbal) details of your current financial position. Some applications may require business financial statements, while most can be assessed using simplified documentation. Providing accurate information upfront helps speed up the approval process and allows your broker to identify the most suitable lenders.
Do I need to provide financials to finance a business vehicle?
Most lenders offer low-doc finance options where full financial statements are not required, particularly for smaller loan values and businesses with a strong trading history. Proof of income, (financials, BAS and/or bank statements only) may be requested for larger loans, newer businesses, complex structures, or applications where the lender requires additional information to assess affordability and risk.
Should I finance my business vehicle through a dealer or a finance broker?
While many vehicle dealerships offer finance, they generally have access to a limited panel of lenders. A commercial equipment finance broker can compare options from multiple lenders to help identify a finance structure that suits your business objectives, rather than simply focusing on the vehicle sale. A broker can assist with negotiating terms, understanding different loan structures, managing paperwork, and helping you avoid choosing a finance option that may not be suitable for your circumstances.
What type of finance structure is best for buying a business vehicle?
The best finance structure depends on how your business operates, how you use the vehicle, and your long-term ownership plans. A Chattel Mortgage is one of the most common options for businesses because it allows the business to own the vehicle immediately while claiming eligible tax benefits. Other options, such as Finance Leases, may suit businesses that prefer to upgrade vehicles regularly or manage cash flow differently. A broker can help determine which structure aligns best with your business needs.
Making Business Vehicle Finance Easy
Should I include a balloon payment on my business vehicle loan?
A balloon payment can reduce your regular repayments by leaving a larger final payment due at the end of the loan term. This can be useful for businesses wanting to preserve cash flow and keep repayments lower; however, it means you will owe more at the end of the agreement. The ideal balloon amount depends on the expected future value of the vehicle, how long you intend to keep it, and your ability to manage the final repayment.
What is the most common loan term for financing a business vehicle?
Loan terms range between one and seven years, however the most common term for business vehicles is between three and five years, with five years being a popular choice because it provides a balance between manageable repayments and a reasonable ownership period. The ideal term depends on the age of the vehicle, expected usage, depreciation, and how long you plan to operate the vehicle in your business.
Do I need a deposit to finance a business vehicle?
A deposit is not always required. Many businesses are able to obtain 100% finance depending on the strength of the application, the vehicle being purchased, and lender requirements. Financing the full purchase price can help preserve working capital, which may be more valuable for business growth, wages, stock, and operating expenses. However, contributing a deposit can reduce repayments and may improve approval strength in some circumstances.
Can I claim the GST back when purchasing a business vehicle?
If your business is registered for GST and the vehicle is used for more than 50% business purposes, you may be eligible to claim GST credits on the purchase, subject to Australian Taxation Office requirements. The amount you can claim may depend on the vehicle type, purchase price, and how the vehicle is used. It is important to confirm your specific circumstances with your accountant before making a purchase decision.
Can you help me find a new vehicle as well as arrange finance?
Yes. Many business owners benefit from arranging finance before selecting a vehicle because it provides a clear understanding of their budget and purchasing power. Tell us what vehicle you're after and we'll source the most competitive price on new cars, vans, and utes from over 1300 dealers nationwide, at no charge. Plus, include third-party accessories such as toolboxes, racks and tow bars under the same invoice.
How do I find the best interest rate for my business vehicle loan?
Finding the best finance option is about more than simply choosing the lowest advertised interest rate. The overall cost of finance can be affected by fees, loan structure, repayment flexibility, balloon payments, lender policies, and how well the product suits your business. We compare multiple commercial lenders and negotiate on your behalf to help secure a competitive solution based on your individual circumstances.
Vehicle Finance Working for You - Not the Opposite Way Around
Triple 8 Equipment Finance are commercial asset finance specialists. We handle the entire process from application to settlement - including (if required), finding the right vehicle and taking care of your insurance requirements through our dedicated partner networks.
The equipment finance market has evolved significantly over the past few years to include a wide range of banks, specialist financiers and other non-bank competitors. We compare the market to provide you with the most competitive rates and best outcomes available, or to guide you in the right direction if your vehicle finance needs dictate a specialist funding solution.
We are a boutique brokerage dedicated to providing the highest level of service, fast turnaround on applications, and placing your needs first at all times.
Call us for a confidential, no-obligation discussion on all your business vehicle & equipment finance options, or get started on your fast finance approval below.
No-Stress Application Process
Discovery Call
Tell us about your business, what vehicle/s you're after, and your preferred terms. We'll answer any questions you have.
Provide Your Details
Upload, text, or email us your ID documents and any other information required to support your application.
Approval
Conditional approval granted (usually within 24 hours). We'll source any remaining information, including contacting the dealer/vendor for a tax invoice on your behalf.
Settlement
Loan agreement issued for e-sign. Vendor is paid directly by the lender once documents have been signed and remaining conditions satisfied
