Heavy Truck Finance | Prime Mover Loans Australia

Practical finance guide

Connect the truck to the work it will perform

A clear contract or established freight history can help explain the purchase, but the complete application still depends on credit, affordability, asset policy and documents.

Comparison of common business asset finance structures
Structure	How it generally works	Important consideration
Chattel mortgage	The business owns the asset while the lender takes security over it.	Tax and GST treatment depends on the business; obtain accounting advice.
Finance lease	The lender owns the asset and the business pays to use it for the agreed term.	End-of-term options, residual value and total cost should be checked.
Rental or operating lease	The business pays for use and may receive bundled service options while the provider retains ownership.	Flexibility can be useful, and the complete cost and return conditions still matter.

Prime mover and trailer are separate assets

Provide separate prices, serial details and payout information. The lender may treat each asset differently.

Contract quality matters

Rates per kilometre, minimum volumes, term, counterparty and operating costs provide more context than a headline weekly revenue figure.

Older vehicles narrow the panel

Age and kilometres at the end of the proposed term can influence deposit and term limits.

Operating costs belong in the decision

Fuel, tyres, maintenance, registration and insurance should be considered alongside the finance repayment.

Model the complete truck operation

Finance is one line in the operating budget. Include fuel, tyres, servicing, registration, insurance, tolls, compliance, wages and downtime. Contract rates should be tested against realistic kilometres, empty running, waiting time and payment terms. A weekly revenue number without those costs does not show whether the truck can support the commitment.

Separate the prime mover, body, crane, refrigeration, trailer and other major components on the invoice. Age, kilometres, engine history and configuration can lead lenders to different terms for each asset. An independent mechanical inspection can assist the purchase decision even when the lender does not require one.

Prepare for contracts, payouts and settlement

Where work is contracted, provide the written term, rates, minimum volume, counterparty and termination conditions. Distinguish signed work from tenders or discussions. The lender will decide how much weight it gives the contract alongside the operator's experience, trading conduct and capacity.

For a trade-in or privately sold truck, obtain current payout figures and confirm the discharge process. Conduct relevant PPSR and ownership checks, verify seller bank details independently and allow time for insurance and registration documents. Conditional approval remains subject to the lender's stated requirements.

Keep the term inside the truck's useful working window

A longer term can lower the scheduled repayment while increasing the chance that major repairs or replacement arrive before the debt is cleared. Compare truck age and kilometres at the proposed end date, likely annual distance, warranty and replacement policy. Ask how an early trade, payout or refinance would be calculated before selecting a balloon or residual.

Questions worth resolving before an application

Provide the truck and trailer specifications separately.
Check the PPSR and current payout position.
Explain the freight contract or established work history.
Model finance repayments together with major operating costs.

Authoritative references

Product detail

Product details, evidence and practical finance pathways

Heavy truck finance can be assessed using the asset specification, purchase channel, useful life, business trading profile and evidence of the work it will perform. X Lend uses these details to select lenders whose asset policy and documentation pathway suit the complete proposal.

Brands and model families

Kenworth T909 and K200, Volvo FH16, Scania R and S series, Mack Super-Liner, Freightliner Cascadia, DAF XG, Mercedes-Benz Actros.

Assets and purchase types

prime movers, B-doubles, road trains, heavy tippers, low loaders, specialised trailers, new combinations, used combinations.

Useful application evidence

prime mover and trailer schedules, freight agreement, rate per kilometre, minimum volume, maintenance records, bank statements, BAS, management accounts.

How asset condition shapes heavy truck finance

High kilometres, engine hours, axle and driveline condition, trailer configuration and maintenance history guide term and deposit decisions.

Tyres, major engine work, driveline overhauls, registration and trailer maintenance form the sustaining capex profile. A suitable term should reflect the asset's remaining productive life, likely resale market and planned replacement date.

How contracts and staged payments support the application

Freight agreements, route volumes, rate cards, minimum kilometres and principal-contractor history provide useful operating context. Signed contracts, purchase orders, forward work schedules and milestone payment calendars can explain future utilisation and cash timing.

Supplier deposits, progress payments, delivery dates and final commissioning amounts should be shown on one calendar. This allows the lender to assess the total project and plan each settlement milestone.

Broker strategy

How we overcome common scenarios

Each scenario starts with the customer's goal, the available evidence and the lender policies that fit the complete application.

Scenario 1

A newer business purchasing heavy truck finance

Situation

The business has a shorter ABN history and confirmed work that requires the heavy truck finance.

How X Lend approaches it

We identify lenders that can assess recent trading conduct, industry experience and contracted work, then present the purchase as one complete operating proposal.

Useful evidence

Business bank statements, GST registration, signed work agreements, the supplier quote and evidence of the operator's experience.

Scenario 2

Used heavy truck finance with age or usage

Situation

The chosen asset has material age, hours or kilometres and remains suitable for the work ahead.

How X Lend approaches it

We document condition, service history, specification and resale support, then compare lenders whose end-of-term age policy fits the proposed term.

Useful evidence

Service records, inspection details, serial or VIN information, photographs, the invoice and a clear explanation of expected annual use.

Scenario 3

Growth purchase with incomplete financial statements

Situation

Current work supports the purchase while the latest full-year accounts are still being prepared.

How X Lend approaches it

We map the available alternative documents, current commitments and expected cash cycle before choosing a lender pathway that accepts those records.

Useful evidence

Recent bank statements, BAS, management accounts, an accountant letter, contracts, purchase orders and a schedule of existing finance.

Before you apply

Eligibility and documents

A complete application helps a lender assess the deal efficiently. Exact requirements vary, but most applications begin with the same core information.

What lenders assess

Income, employment or business trading history
Living expenses and existing credit commitments
Credit history and recent applications
The asset, purchase or purpose being financed
Deposit, trade-in and requested loan term

What to have ready

Driver licence or other identity documents
Recent payslips or acceptable income evidence
Bank statements when requested
Invoice, listing or purchase details
Business financial information for relevant applicants

Rates and repayments

Estimate the repayment, then compare the full cost

Use the calculator as a guide. Eligibility, fees and the rate offered depend on the lender, purpose and applicant.

Heavy Truck and Prime Mover Finance repayment calculator

How much would you like to borrow?$

$5,000$500,000

Loan term

Years

Interest rate% p.a.

Balloon or residual

Estimated final balloon: $0

Your estimated repayments

per month

With 20% balloon

per month

With a 0% balloon

per month

Total interest

Total repayable

Get your quote

This calculator provides an estimate using the entered rate, term and balloon. Lender assessment, fees and repayment timing determine the final figures.

Interest rate

The percentage charged on the outstanding balance. Fixed and variable options may be available.

Comparison rate

A standardised figure that includes the interest rate and most known fees for a set example loan.

Fees and conditions

Check establishment, monthly and early payout fees, plus any balloon or residual amount.

The four step approval process

Step 01
Enquire
Send us a few details to start. We can usually explain the available pathway within a few hours.
Step 02
We Find Your Lender
We compare your deal across 80+ lenders and match it to the ones most likely to approve it at the sharpest rate.
Step 03
Lender Approval
We package and submit your application, negotiate the terms, and come back to you with a clear approval.
Step 04
Settlement
We handle the paperwork, get your documents signed, and your loan settles, funds released to you or the seller.

Get a Quote

Available structures

Choose a structure that fits the purchase

The same finance goal can produce different outcomes depending on the lender, term and structure.

80+ lenders, one application

We compare commercial and specialist transport lenders in one go for the sharpest rate on heavy gear.

Owner driver to fleet

Fund a first prime mover or add heavy capacity, with facilities sized to how your operation runs.

Prime movers, rigids and B-doubles

Heavy rigids, prime movers, trailers and B-double combinations, we finance the whole rig.

Lenders for tougher deals

Older units, high kilometres or contract income, we match you to a lender comfortable with it.

Tax effective structures

Chattel mortgage, hire purchase or lease, structured around your GST and depreciation position.

Low doc options

Established operators can often finance without full financials, keeping the process fast.

The basics

Fund the prime mover that carries the load.

Compare heavy truck finance across 80+ lenders for prime movers, heavy rigids and B-doubles, including owner-driver and low-doc options.

Heavy haulage is a capital hungry game, and a prime mover parked up costs real money every day it isn't turning kilometres. X Lend is a finance broker: we take one application and compare it across 80+ banks and nonbank lenders to fund the heavy gear at the core of your transport operation.

Whether you're an owner driver buying your first prime mover, a linehaul operator adding a heavy rigid or a business scaling into B-doubles, we arrange the structure, chattel mortgage, hire purchase or lease, so you manage GST and depreciation and keep working capital where it belongs. New or used, dealer or private sale, we handle it.

Because we compare the whole panel, we can place deals a single bank might knock back, older prime movers, high kilometre units and seasonal or contract based income. We keep it plain English, flag what affects your rate, and only lodge once you're ready.

Important to know.

For owner drivers and new operators, some lenders weight your industry experience and freight contracts alongside time in business, and higher kilometres or an older prime mover don't have to end the deal. Comparing 80+ lenders is exactly how those tougher heavy haulage deals get placed.

Before you decide

The benefit of moving now and the cost of waiting

A useful comparison considers both what the finance may make possible and what leaving the underlying need unresolved may continue to cost.

Pros

Access the vehicles or equipment needed to take on suitable work and serve customers.
Preserve working capital for wages, materials, tax and other operating expenses.
Replace an unreliable or unsuitable asset before downtime and repair costs increase.

Cons

Suitable contracts may be missed when the required vehicle or equipment is not available.
An older asset can keep breaking down when there is not enough cash available to replace it outright.
Buying the asset outright can reduce the cash buffer available for payroll, materials and unexpected costs.

Purchases and purposes