Heavy Vehicle and Truck Financing by Commercial Hire Purchase
Light-duty, medium-duty and heavy-duty vehicles of varying body and trailer types, diesel and energy-efficient fuel systems, new and used may be financed.
Compare & Consider Commercial Hire Purchase Asset Finance
Known by its full name or by the initials CHP or HP, this is a credit facility which may suit many enterprises to acquire a range of assets. The interest rate is competitive and it provides. effective tax benefits. This is one of several credit facilities available to businesses seeking cost-effective financing for new and used trucks, cars, plant, machinery and equipment.
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Fast Comparisons of Commercial Hire Purchase Rates with Other Financing Products
The interest rate on business financing facilities vary with the product itself, across the lending market and for individual businesses. Lenders typically display their lowest achievable rate for operators to use as a guide to what is available. This table enables fast comparisons of the range of asset acquisition financing facilities based on interest rates.
Types of Goods and Assets Financed with Commercial Hire Purchase
All types of assets and assets may be suited for financing with this form of business credit.
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Hire Purchase Commercial Vans
New and second-hand vans from all manufacturers, used in a business operation may be financed with this facility.
Plant, Machinery and Equipment Finance CHP
Goods for business use of all types may suit this financing product. Assets including yellow goods, wheeled goods, IT and computers, medical equipment, excavators and earthmoving machinery, agricultural and farming machines, and all other plant, machinery and equipment across Australian industry.
CHP Commercial Loans
Many of the general business purposes may be financed with this facility.
How to Get HP Repayment Estimates Using a CHP Calculator
An online hire purchase calculator is a useful resource for business owners to calculate estimates of possible monthly repayments based on varying terms, loan amounts, balloon and interest rate. Users can enter the amounts of their loan, the interest rate displayed, the preferred number of months/years to repay the finance and their preferred percentage for the balloon. The calculator immediately displays the result as an estimated repayment. Please read the disclaimer for the full details of using this calculator correctly.
The calculator is ideal for compare credit products – compare with Lease, Rent-to-Own and Chattel Mortgage, and for comparing the different repayments for comparable goods at different purchase prices.
- CHP calculator for comparing credit facilities, makes and models.
- Easy way to calculate Commercial Hire Purchase repayments.
- Free calculator use, no obligation.
Business finance guides and resources
Our guides offer quick comparisons and simple explainers to help you rise above the financing process with confidence.
Specialised Business Finance
Business Car Finance
What is Hire Purchase or Commercial Hire Purchase?
This business loan product can lead to some confusion due to the name implying a form of rental or hiring agreement. This is incorrect. This loan type is a facility for financing assets where the business owns the goods at the conclusion of the loan when all commitments are finalised.
The technical explanation of this loan is that the lender acquires the assets and hires them to the business while the business repays the commitment in monthly loan instalments. While the lender may have ownership, the business is has full usage of the assets and must cover all outgoings in relation to the maintenance, service and running costs.
A balloon is an optional inclusion in this loan form. That is a percentage of the loan total which is payable in full after the final instalment is made. The amount of a balloon is subject to lender approval.
A unique feature of this type of credit facility is that it suits businesses that use either the accruals or the cash method of accounting. Other facilities suit one or the other accounting methods. When considering any credit product, it is advised that business owners discuss the selection with their accountant to ensure it is compatible with their accounting methods and objectives.
- CHP suits accruals and cash accounting.
- Fixed rate of interest.
- Fixed HP term – 1 year to 7 years available.
- Fixed monthly instalments.
- Balloon option.
Talk to a Hire Purchase specialist broker at Jade to find out more.
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THE INTEREST RATE IS CALCULATED ON A SECURED LOAN PREDOMINATELY FOR BUSINESS USE, EFFECTIVE 21/02/2026 AND SUBJECT TO CHANGE. WARNING: THE INTEREST RATE IS TRUE ONLY FOR THE EXAMPLES GIVEN AND MAY NOT INCLUDE ALL FEES AND CHARGES. DIFFERENT TERMS, FEES OR OTHER LOAN AMOUNTS MAY RESULT IN A DIFFERENT INTEREST RATE.
We work harder to secure the best rates.
Commercial Hire Purchase FAQs
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A balloon is payable in full at the conclusion of the term. It may be paid via cash resources or refinanced.
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All business loan products may suit start-up businesses, depending on lender approval. A No Doc option may be required if full financials are not available.
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Yes. Used vehicles may be financed with the business’ choice of credit facility.
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Yes. The rate is typically the same as Chattel Mortgage which is the lowest rate across the business financing product range.
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All business structures can suit all types of business financing products. The decision is based on the suitability of the features and benefits of each facility to the business set-up and its objectives.
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Lease is only suited to accruals accounting not cash accounting, the structure of the facility varies and there are differences with the interest rate. Lease has a residual option which varies from a balloon.
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Alternative credit facilities for financing trucks include Lease, Rent-to-Own and Chattel Mortgage.
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The minimal requirement for eligibility for business finance products is to hold a current Australian Business Number.
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No deposit financing is subject to lender approval but is widely available.
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Yes. The full selection of commercial credit facilities may suit financing agricultural machines.
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No. The interest component is a deduction but the main deduction comes when the asset is depreciated when preparing the income tax return and annual accounts.
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Terms of as short as 1 year and up to 7 years can be approved with this type of loan.
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When purchasing goods with commercial credit, the business will wholly own the goods when all repayments and any balloon amounts are finalised.
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The balloon is that agreed portion of the financing total that is paid in full at the conclusion of the loan term.
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This is a credit facility for the purchase of business goods and assets not a rental arrangement.