FAQs

Owner-operators and self-employed operators can be offered attractive rates with strong financials and documentation. For an exact rate, operators will need to request a quote.

Tax deductions vary on different credit facilities but interest charges are a deduction for all facilities.

The rates on heavy vehicle funding are usually fixed. The fixed rate remains unchanged for the full credit term.

Rates displayed by lenders will be their best rates on new vehicle acquisitions for good profile applicants. Rates offered to individual applicants can be different from the displayed rate.

While rates are offered after individual application assessment, operators may expect the same rate for the vehicle with or without trailer. The total amount of the credit requested, being greater with a trailer, may impact the rate offer.

Lenders will assess the vehicle as well as the operator’s profile when preparing rate offers. In general terms, new vehicles of all brands, sizes and configurations should attract the same rates. Second-hand vehicles may attract different rates.

Using a credit calculator as provided on lender and broker websites, buyers can calculate repayment estimates based on displayed rates.

Low Doc vehicle credit can attract competitive rates for operators with strong turnover and security. Some lenders will approve applications based on turnover over a short period.

Lenders used their own guidelines and outlooks for economic conditions when setting their interest rates across their portfolio. This individual approach results in different rates. Lenders that specialise in a certain sector such as heavy vehicle credit, may offer more competitive rates than some general lenders.

Rates vary across the lender market but HP and Chattel Mortgage typically have a lower rate than Rent-to-Own and Leasing.

Operators will need to request a quote to receive an exact rate based on the vehicle being purchased and their profile. Rates displayed by lenders can be used as a guide for planning purposes.

Rates on heavy vehicle funding are offered on an individual basis after assessment of the application by the lender. Rates can vary but even the smallest enterprises with strong financials can achieve good rates.