Quick answer
Truck finance is assessed against the truck, operator and work. Configuration, age, kilometres, trailer, deposit, trading history, contract position and operating costs can all affect suitable terms.
Practical finance guide
Build the truck application around the actual work
A repayment quote is only useful when the truck specification, freight or trade work, running costs and downtime assumptions are realistic.
Configuration determines value and use
Prime mover, rigid, tipper, crane truck and specialised body types should be fully described and separately priced where needed.
Contract revenue needs context
Rates, minimum volume, term and counterparty are more useful than a headline weekly turnover figure.
Older trucks narrow policy
Age and kilometres at the end of the requested term may lead to a shorter term, contribution or specialist lender.
Downtime and maintenance need reserves
A viable repayment should leave capacity for tyres, servicing, insurance, registration and periods off the road.
Questions worth resolving before an application
- Provide full truck and body specifications.
- Explain established work or contract terms.
- Check PPSR and current payout details.
- Model repayment, fuel and maintenance together.
Product detail
Product details, evidence and practical finance pathways
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 T610 and T909, Volvo FH and FM, Scania R and S series, Isuzu F and G series, Hino 500 and 700, Fuso Shogun, Mack Anthem, DAF CF and XF.
Assets and purchase types
prime movers, rigid trucks, tippers, refrigerated trucks, tow trucks, crane trucks, trailers, new and used trucks.
Useful application evidence
truck and body specifications, kilometres, service records, freight contract, head contractor agreement, bank statements, BAS, finance schedule.
How asset condition shapes truck finance
Kilometres, engine hours, driveline condition, body or trailer wear and service history shape remaining life and resale value.
Tyres, engine and driveline maintenance, registration and trailer work form part of sustaining capex. 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 contracts, rate schedules, minimum volumes, route history and head contractor agreements can explain the work and revenue cycle. 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 truck finance
Situation
The business has a shorter ABN history and confirmed work that requires the 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 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
Transport lenders each have their own appetite, that's why we compare 80+ of them, but most weigh the same things.
What lenders assess
- ABN age and GST registration, many lenders like established ABNs, though some will back new operators with industry experience
- Time trading, contracts in hand and the consistency of income through the business account
- The truck itself, age, kilometres, condition and how old it will be when the term ends
- Credit history of the business and its directors
- Deposit or property backing, which strengthens larger or borderline deals
- Existing truck and equipment commitments across your current lenders
What to have ready
- Driver licence for each director or applicant
- ABN and GST registration details
- Recent business bank statements, usually the last few months
- Dealer quote or supplier invoice for the truck
- For private sales: the seller's details, rego papers and an inspection where the lender requires one
- Rate confirmations or contracts if you're a newer operator, they help tell the story
- For full doc applications: recent financials or BAS, established operators can often go low doc without them
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.
Truck Finance repayment calculator
Your estimated repayments
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With 20% balloon
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With a 0% balloon
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Total interest
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Total repayable
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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.
Available structures
Choose a structure that fits the purchase
The right structure depends on how you run the truck, how long you'll keep it and what your accountant recommends. These are the options we compare for you.
Chattel mortgage
You own the truck from day one and the lender takes security over it. The most common structure for operators who want to claim GST on the purchase and depreciate the unit, your accountant can confirm the detail.
Finance lease
The lender owns the truck and you lease it for a fixed term with options to buy, extend or return at the end. Suits fleets that turn units over regularly and want predictable payments.
Hire purchase
You pay the truck off over the term and ownership transfers with the final payment. A middle ground that sometimes fits better for accounting or lender policy reasons.
Balloon and residual structures
Leaving a lump sum to the end of the term keeps repayments lower while the truck is earning. Balloon sizes depend on the lender, the truck's age and expected kilometres, we'll model the options side by side.
Low doc vs full doc
Established operators can often go low doc on trading history alone, while full doc applications with financials typically unlock sharper pricing and bigger facilities. We'll show you both where they're available.
Terms and truck age
Terms typically run from one to seven years. Most lenders assess the truck's purchase age and its expected age at the end of the term. Older units may suit a shorter term or a lender with more flexible age policy.
The basics
Fund the gear that keeps you moving.
Compare truck finance across 80+ lenders for prime movers, rigids, tippers, trailers and semis, including eligible low-doc options.
A truck that's off the road costs you money. Whether you're adding a rigid for local runs or a prime mover for the long haul, X Lend is a finance broker: we take one application and compare it across 80+ banks and nonbank lenders to fund the backbone of your operation smoothly.
From owner operators buying their first rig to fleets adding capacity, we arrange finance for new and used trucks, dealer or private sale. We structure it as a chattel mortgage, hire purchase or lease so you can manage GST and depreciation and keep working capital where it belongs.
Because we compare the whole panel, we can place deals that a single bank might knock back, including older trucks, higher kilometre units and seasonal operators. We keep it plain English and only lodge once you're ready.
Important to know.
An older rig or high kilometres doesn't have to end the deal. Lenders differ widely on truck age and usage, and some will even weight a new owner operator's industry experience and contracts alongside time in business.
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
What you can finance.
From light rigids to heavy haulage, we arrange finance for:
Prime movers and semis
Compare suitable lender options, rates, fees and conditions for this purpose.
Rigid trucks and cab chassis
Compare suitable lender options, rates, fees and conditions for this purpose.
Tippers and dump trucks
Compare suitable lender options, rates, fees and conditions for this purpose.
Trailers, dog trailers and B-doubles
Compare suitable lender options, rates, fees and conditions for this purpose.
Curtain siders and refrigerated bodies
Compare suitable lender options, rates, fees and conditions for this purpose.
Tow trucks and specialist bodies
Compare suitable lender options, rates, fees and conditions for this purpose.
New and used units
Compare suitable lender options, rates, fees and conditions for this purpose.
Refinancing existing truck finance
Compare suitable lender options, rates, fees and conditions for this purpose.
Compare the fit
Who it suits and when to compare alternatives
A strong fit
- Owner operators buying a first rig or stepping up to a bigger unit
- Transport businesses adding rigids, tippers or trailers as contracts grow
- Fleets replacing units or expanding capacity across several trucks
- Operators buying used, high kilometre or auction trucks that a single bank might decline
- Newer ABNs with solid industry experience and work already lined up
Compare another option
- Trucks for private or recreational use, this is commercial finance for working vehicles
- Working capital with no truck attached, an unsecured business loan usually fits that better
- Operators still deciding between units, though a pre approval means you can negotiate like a cash buyer
Application clarity
Common roadblocks and the next practical step
Truck policy varies widely between lenders. These are common sticking points and the steps we use to present them clearly. Every approval remains subject to the selected lender's assessment.
ABN too new for that lender's policy
Some lenders want years of trading behind an ABN; others will weight your driving history, signed work and a deposit instead. We take the file straight to the lenders that back new operators.
Truck too old at the end of the term
Age caps vary widely between lenders. A shorter term, a lender with a more flexible age policy or a slightly newer unit usually gets the deal done.
Paper defaults from a busy year
A telco or trade default from a flat out period doesn't have to end it. Some lenders will look past explained defaults, especially with clean conduct since.
Seasonal or cash heavy income
Harvest runs and seasonal freight can look lumpy on bank statements. We match seasonal operators to lenders that understand the cycle or can structure repayments around it.
Overexposure to one lender
If your bank already holds several of your trucks, it may simply be full on your business. We place the next unit with a different lender on the panel.
Broker insight
An older rig or high kilometres doesn't have to end the deal. Lenders differ widely on truck age and usage, and some will even weight a new owner operator's industry experience and contracts alongside time in business.
Corey Marino
Founder & Finance Broker, FBAA member M-354085 · Diploma-qualified finance broker
Real people. Real results.
5.0“I was trying to get a loan for my dream car but was struggling getting approved with my bank but Corey was extremely helpful throughout the entire loan process. He followed up with multiple lenders, secured me a much better interest rate than my initial CommBank offer, and stayed persistent on my behalf. He kept me updated every step of the way, and I genuinely don’t think I would have been approved without his support. The customer service was very professional and friendly. Highly recommend to everyone”
“Corey helped me through the entire process of getting my dream family car! He was extremely prompt with his responses and had everything organised quickly and smoothly. I made a huge mistake by settling finance on the wrong car (a 5‑seater instead of a 7‑seater), but Corey was incredibly understanding and supportive. He contacted the dealership, lender, and even rearranged my insurance for me. He did all of this without ever making me feel like a hassle, even though I knew I was being a pain! Despite the setback, Corey stayed fast and efficient, kept me confident throughout the process, and managed to get everything cancelled and re‑approved for a higher amount so I could get my actual dream car. I highly recommend Corey. He speaks to you like a friend and genuinely has your best interests at heart. I already had quotes from Toyota Finance and Toyota Insurance, and Corey was able to get both significantly cheaper. Toyota Finance even reviewed Corey’s figures and confirmed they couldn’t beat them. I will never look to another finance company again.”
“My first experience with a broker, Corey made the whole process so smooth and simple and stress free. Communication was outstanding, he explained everything so I could understand what was happening as it was happening and kept me in the loop for the whole process, he was so kind and friendly and happy to answer any questions I had. He went above and beyond what I expected and has helped me greatly with his expertise. It was a fast process from start to finish and will definitely be using X lend for any future financial matters! Thanks Corey!”
“I can’t recommend Corey from X Lend highly enough. From the very first conversation, he was professional, transparent, and genuinely focused on finding the best outcome for me. Corey took the time to explain every step of the finance process in a way that was easy to understand, answered all my questions promptly, and never once made me feel rushed or pressured. I really appreciated how proactive he was, keeping me updated, following up with lenders, and making sure everything stayed on track. What really stood out was how hard he worked to secure a great deal. He compared multiple lenders, negotiated on my behalf, and ultimately achieved a rate and repayment structure that exceeded my expectations. The whole process of purchasing my car was smooth and stress‑free thanks to their expertise. If you’re looking for someone knowledgeable, reliable, and genuinely in your corner, I wouldn’t hesitate to recommend them. I’ll definitely be using their services again in the future :)”
“Super helpful, friendly and fast. Secured a bank loan beyond expectations and did all the tricky leg work. Definitely be using their services again. Corey was a legend!”
Questions Answered
Truck Finance frequently asked questions
Straight answers to common questions before you compare finance or start an application.
We're a finance broker: we compare 80+ banks and nonbank lenders and place your truck finance with the best fit for your operation.
Often, yes. Lenders differ on truck age and kilometres, which is exactly why comparing 80+ of them helps, we match your unit to a lender comfortable funding it.
Frequently, yes. Some lenders weight your industry experience and contracts as well as time in business. We present your deal to the lenders most likely to back a new operator.
Chattel mortgage, hire purchase and finance lease are all common for trucks. We'll explain the GST and depreciation differences so you can choose with your accountant.
Many truck deals get a same day decision and settle within 48 to 72 hours once documents and inspections are in.
Yes, many lenders fund auction trucks. Auction houses expect prompt settlement, so the trick is having a pre approval in place before you bid, we'll arrange it so you can raise your hand with confidence.
They can go on one facility or be financed separately, and because trailers often outlast prime movers, splitting them can make replacement easier down the track. Sometimes different lenders suit each unit, so we'll structure it around how you'll run and eventually replace them.
Often, yes. Established operators can frequently finance a truck on trading history alone, without full financials. The tradeoff can be pricing or facility size, so we compare low doc and full doc options and show you both.
Yes. Seasonal freight and harvest work are normal in transport, and some lenders will take a broader view of your annual income or structure repayments around the cycle. We put your file in front of the lenders that understand it.
Common examples include Kenworth T610 and T909, Volvo FH and FM, Scania R and S series, Isuzu F and G series, Hino 500 and 700, Fuso Shogun. The exact lender pathway depends on the applicant, purpose, asset and documents.
Useful evidence can include truck and body specifications, kilometres, service records, freight contract, head contractor agreement, bank statements. X Lend confirms the documents required for the selected lender pathway before submission.
We define the funding goal, organise the available evidence, identify the policy issues and compare lenders whose criteria fit the complete application. The customer reviews the proposed pathway before a lender submission.
More about this finance option
More about truck finance
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Reviewed by Corey MarinoFounder & Finance Broker, FBAA member M-354085 · Diploma-qualified finance broker
Important information
X Lend acts as a finance broker. Product availability, rates and approval depend on lender criteria and your circumstances. Consider the full terms before proceeding.