How to finance a truck in Australia
The structures available, what they cost, and which suits which buyer.
Chattel mortgage (most common for ABN holders)
You own the truck from day one. The lender takes a security interest. You can claim the GST on the purchase price at the next BAS, depreciate the asset, and deduct the interest. The truck appears on your balance sheet as an asset with a matching liability.
Operating lease
The lender owns the truck. You pay a fixed monthly amount for fixed term and hand it back (or refinance) at the end. Suits operators who want predictable costs, regular fleet replacement, and don't care about ownership at end of term.
Hire purchase
You pay in instalments and become the owner at the end (when the final balloon clears). Less common in heavy-vehicle finance these days; chattel mortgage usually wins on tax treatment.
Low-doc + ABN-only
For ABN holders without full financial statements, low-doc finance relies on BAS, bank statements, and the asset itself. Rates are 1-3% above prime; turnaround can be faster.
Get pre-approved before you sign
AYIO Marketplace shows a "Get Finance Quote" CTA on every financeable listing. Click takes you to AYIO Financial with the listing details pre-populated. Pre-approval gives you negotiating certainty.
Frequently Asked Questions
What deposit do I need?
For prime ABN deals: 0-10% common. For low-doc / non-prime: 10-30%. AYIO Financial brokers across multiple lender panels to find the best fit.
How long does approval take?
Same-day initial response. Full approval 2-5 business days for clean prime deals, longer for specialised structures.
Can I finance a truck I've already bought?
Yes — refinance is available. Useful if rates have moved since you bought, you want to release equity, or restructure repayments.