Truck Finance

Quick and easy truck finance from the AAA Finance experts who get things done.  Applying for a truck loan is as easy as a phone call away.  As well as being easy we are also quick, with most truck loans approved within 24 hours.  From city businesses, to farmers and trucking companies, we can finance your truck, regardless of where you are located nationally.

What can be purchased with truck finance?

  • Any type of truck – small, medium, heavy; flat, dump, tanker, refrigerated.
  • Trailers -basically anything that gets pulled behind a truck.
  • New or used.
  • Private sale or from a dealership.
  • Australia wide.

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3 Types of truck finance

A chattel mortgage is a type of business loan for ABN holders.  The ‘chattel’ is the truck being purchased and the ‘mortgage’ is the loan that uses the truck as security.  Truck loans attract competitive interest rates and come with tax benefits.  No doc, low doc truck finance and full doc facilities are all types of chattel mortgages.

1. No Doc Truck Finance

No doc truck finance does not require documentation to prove income.  You will however be required to sign an income declaration.  As a minimum requirement your business would have to have been operating for 2 years, be GST registered and have asset backed director/s. 

2. Low Doc Truck Finance

As the name suggests, low doc truck finance means, low documentation is required as proof of income.  Usually, interim financials will suffice, including documentation from in house accountancy software such as MYOB or XERO.  These could include one or more of the following:

  • Business Activity Statement
  • 3 months bank statements
  • Profit and loss statement
  • Accountants letter

3. Full Doc Truck Loan

Full up-to-date financials are required for a full doc truck loan.  This includes an up-to-date tax return for the business, profit and loss statement and balance sheet.

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What an experience finance broker does for you

Each lender has different requirements that are being updated on a regular basis.  AAA Finance is a leader in the industry and has over 40 different lenders.  Our job is to know and understand what each of our lender’s guidelines are at any given time.  When applying for a truck loan our brokers get to know you and your business.  They will determine the best lenders that will suit your individual circumstances.  This ensures a truck loan approval with the best possible terms. 

Get pre-approved truck finance

Before the auction or negotiation begins you can rest easy knowing your funds are approved.  An approval will have an amount of funds available for the purchase of a particular asset class.  Having a pre-approval can add to your negotiating power and keep you in budget!

Get in touch

Phone 07 5493 1222 to discuss your truck loan requirements with one of our friendly finance experts.  Alternatively send your contact details on one of our online forms and we will be in contact shortly. 

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Truck finance calculator

Want to know how much that new truck is going to set you back in repayments?  Need to make sure the new purchase will fit into the business plan and budget?  Our online business truck loan calculator will estimate your monthly repayments based on your inputs.  You will need to input the finance amount, term in years, interest rate and decide if you want to have a balloon payment due at the end of the loan.  Your interest rate will be determined by the type and age of asset being purchased as well as your profile and credit history.

Truck Finance | Heavy Vehicle Loans | AAA Finance

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Truck Finance FAQ's

How can I get a loan for a truck?

Accessing an experienced finance broker is the easiest and most effective way to get a great truck loan deal. AAA Finance are experts in loans for trucks.

How long can you finance a truck?

Truck loan terms extend from 1 to 7 years.

What is the interest rate for truck loans?

The interest rate offered on your truck loan is dependent on several factors including your previous credit history, the loan amount, the age and the type of truck to be purchased. Using an experienced finance broker, such as AAA Finance, will ensure you get the best deal to suit your circumstances.

What is a good monthly truck payment?

Truck loan repayments must fit within your budget and ensure ample cash flow for your business operating costs. The repayment amount is determined by the purchase price, loan term in years and the interest rate.

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Useful Link: Heavy Vehicle Regulations

This link to Queensland Government Department of Transport and Main Roads has useful information regarding heavy vehicle regulations for Queensland roads.

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