Truck and equipment finance funds the assets your business works with, trucks, trailers, and the equipment that keeps operations running across transport, trades, manufacturing and agriculture. Because the asset secures the loan, this finance is usually faster and lighter on documentation than other business lending, and it can be structured to suit how you want to own the asset and manage cash flow.
The common structures are a chattel mortgage, where you own the asset from day one; a finance lease, where the lender owns it and leases it to you; and hire purchase, which sits in between. New and used assets can both be financed, including private-sale purchases, and the right structure depends on your circumstances and your accountant’s advice.
At Loanworx, we compare truck and equipment finance across a panel of banks, second-tier lenders and specialist asset-finance funders, match the structure to your cash flow, and present your application in its strongest form. As an experienced commercial finance broker, we work for you and coordinate with your accountant on the tax side.
Financing a truck, a trailer or business equipment? Call us on 1300 562 696 or get in touch and we’ll be back to you shortly.
This finance comes down to the asset, the structure and whether it’s new or used. Here’s how it works.
Truck and equipment finance funds trucks and trailers, and the wider equipment a business runs on, across transport, trades, manufacturing and agriculture. If it’s a business asset with a resale value, it can usually be financed, with the asset itself serving as the security.
You can structure the finance as a chattel mortgage, where you own the asset from day one; a finance lease, where the lender owns it; or hire purchase, which transfers ownership at the end. Each carries different ownership, cash-flow and tax outcomes, which we compare with your accountant.
New and used assets can both be financed, including private-sale purchases. Used and older assets can mean slightly tighter terms because they depreciate, but they’re far from a barrier. We match the specific asset, and its age and condition, to a lender comfortable with it.
A truck or a piece of equipment has to earn its keep, so the finance behind it should support cash flow rather than strain it. The structure, the deposit and any balloon all affect how the repayments sit against the income the asset generates.
We compare the asset-finance lenders, match the structure to how your business runs, and arrange any deposit or balloon to suit your cash flow. For straightforward, asset-backed deals we can often turn approval around quickly, so the asset is working and earning without a drawn-out process.
Truck and equipment finance is one of several ways we fund business assets. Explore our other asset finance services below to find the right fit.
Flexible personal finance for a car, travel, renovations, consolidation and life’s larger expenses.
Competitive finance to buy a car, new or used, for personal use, structured around your budget.
Vehicle and fleet finance for business through chattel mortgage, lease or hire purchase.
Novated leasing and car finance options structured around how you use and own the vehicle.
Finance for excavators, loaders and heavy plant, new or used, for construction and earthmoving.
This finance is assessed on the asset and the business. These are the factors that shape your approval and structure.
The truck or equipment secures the loan, so its type, age, condition and resale value feed into the terms. Standard, in-demand assets attract the strongest terms; older or specialised ones can mean tighter ones.
We match the asset to a lender comfortable with it.
Lenders look at how long the business has traded, its ABN and GST registration, and its track record. Established, GST-registered businesses access the widest choice, including low-doc options.
We present the business in its strongest form.
A deposit reduces the amount financed, and a balloon at the end lowers monthly repayments in exchange for a lump sum later. The right balance depends on your cash flow and how long you’ll keep the asset.
We structure both around the income the asset generates.
Lenders assess whether the business can comfortably meet the repayments alongside its other commitments. The income the asset itself generates often supports the case.
We frame the application around your cash-flow position.
Older assets and specialised equipment can attract higher rates or shorter terms because they depreciate faster or are harder to resell. This affects which lenders suit the deal, and matching the asset to the right lender is exactly what we do, so age or type is rarely a barrier.
Asset finance isn’t only about the headline rate. It’s about being matched to a lender that suits the asset, structuring the facility around your budget and, where relevant, your tax, and getting it approved quickly. Here’s what working with us looks like.
We compare asset finance across a broad panel of banks, second-tier lenders and specialist asset-finance funders, so you see a genuine spread of options rather than one lender’s offering. We match the asset and your situation to the lender most likely to approve it at a competitive rate.
Because the asset secures the loan, many deals can be approved on limited documentation and settled quickly. We know which lenders move fastest for which assets, so you can get the vehicle or equipment working without a drawn-out process.
The right structure depends on how you want to own the asset, manage repayments and, on the business side, treat it for tax. We compare the structures, including any deposit or balloon, and coordinate with your accountant where it’s a business asset.
For most asset finance, Loanworx is paid an upfront and trail commission by the lender after settlement, and that commission typically does not change the rate or fees you pay. Where a fee for service applies to a more complex scenario, we disclose it in writing before any work begins. No surprises.
A wide range of business assets: prime movers, rigid trucks, trailers, and the equipment a business runs on across transport, trades, manufacturing and agriculture. As a guide, if it’s a business asset with a resale value, it can usually be financed, with the asset itself as the security. We match the specific asset to a lender with appetite for it.
Yes. New and used assets can both be financed, including private-sale purchases. Used and older assets can attract a slightly higher rate or a shorter term because they depreciate faster, and some lenders set age limits on the asset at the end of the term. We match the age and condition of the specific asset to a lender comfortable with it.
The main options are a chattel mortgage, where you own the asset from day one and the lender holds security; a finance lease, where the lender owns it and leases it to you; and hire purchase, which transfers ownership at the end. Each has different ownership, cash-flow and tax outcomes. We compare them and coordinate with your accountant on the best fit for your business.
Not always. Because the asset secures the finance, many lenders offer low-doc or asset-backed approvals for established, GST-registered businesses with a clean track record, sometimes without full financials. Newer businesses, larger facilities or specialised assets may need more documentation. We match you to a lender whose requirements suit your situation.
Often, yes, depending on the structure and your circumstances, but it’s a tax matter. A chattel mortgage, for example, commonly lets a GST-registered business claim the GST on the purchase and depreciate the asset, while leasing is treated differently. We’re not tax advisers, so we structure the finance to suit the treatment your accountant recommends.
Quickly, for straightforward deals. Because the asset is the security, approval and settlement can often happen within a day or two for clean applications from established businesses. Used or private-sale purchases need a little more verification, and larger or specialised assets take longer. We’ll give you a realistic timeline and move quickly where the deal allows.
Talk through what you’re financing with an asset finance specialist, with no cost and no obligation. Call us on 1300 562 696 or get in touch and we’ll be back to you shortly, ready to find the right facility for your asset.
Disclaimer: The information provided here is general in nature and should not be considered financial, tax or legal advice. You should consult your professional advisers, such as your accountant, solicitor and financial planner, to see whether a particular finance strategy is suitable for your business, ahead of a discussion with us that will be limited to how to arrange any funding required.
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