Loan Security
While new vehicles are readily accepted as security for new truck loans, second-hand vehicles require evaluation by lenders as acceptable finance security.
All vehicles, including light, medium, heavy duty, and trucks with a bit of age are not a problem. All operators – any size, time in business, or low financials are also covered. Regardless of industry or applications like urban, regional, interstate, or remote operators, we have options to cater for them all.
If you’re planning to buy a second-hand vehicle from a dealer, private seller, or at auction, speak with us about an individually sourced loan for a used truck at our great rates.
A key difference between loans for used trucks compared with financing new vehicles is that the vehicle and the operator are both integral to the application.
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While new vehicles are readily accepted as security for new truck loans, second-hand vehicles require evaluation by lenders as acceptable finance security.
The age and condition of the vehicle determines the suitability as collateral which determines whether secured or unsecured financing is required. The value and working life of the vehicle can impact the terms offered on used truck loans.
The operator’s profile, financials and credit score are assessed to determine approval, interest rate, and any special conditions on the loan. The value of the vehicle relative to the loan amount requested, in conjunction with financial credentials and credit history, can impact the loan amount approved.
The assessment and approval guidelines used by lenders vary across the market. With our personal service and vast market access, we assist operators to connect with the lender that is best suited to make the most attractive used heavy vehicle finance offer.
Using our specialist broker services can be invaluable in securing financing for used trucks at the best available rates and terms that deliver repayments that work with cash flow.
To discuss your options or to request a quote, contact us and speak directly with one of our brokers.
Our guides offer quick comparisons and simple explainers to help you cruise through the financing process with confidence.
Where a vehicle is accepted as security for a used truck loan, operators can select from Chattel Mortgage, Rent-to-Own, Leasing and Commercial Hire Purchase as their credit facility. The features of these facilities vary in regard to:- their compatibility with either the cash or accruals method of accounting; ownership of the vehicle over the term which impacts the balance sheet; the way tax deductions are delivered; and in the interest rate. Residuals, balloons and buyback options are available, for the respective products.
These facilities can be utilised by all types and sizes of commercial operations including fleets, large corporations, private companies, family enterprises, partnerships, SMEs, self-employed and sole traders and can suit all types of vehicles.
Consulting with an accountant on which credit facility will deliver the best outcome for the business is strongly advised.
Where a vehicle is not considered acceptable collateral by lenders, we offer workable rates and terms on Unsecured Business Loans. Use our used truck loan calculator to work up estimates for budgeting, vehicle comparisons and pre-planning.
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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.
Yes. Where a used truck is accepted as loan collateral, operators can select from Leasing, Chattel Mortgage, Commercial Hire Purchase and Rent-to-Own.
Monthly payments on Lease and Rent-to-Own are deductible. Chattel Mortgage and CHP payments are not deductible. The interest is deductible and the vehicle depreciated for a deduction.
Yes. Balloons are an option for Chattel Mortgage and CHP.
Rates are individually offered based on an assessment of the asset and the applicant. Rates for second-hand vehicle financing is typically higher than for new vehicle funding.
Numerous aspects of a used vehicle are assessed by lenders in preparing funding offers. The age, condition and working life are the major considerations.
Yes. Applications may be submitted and approved based on an indication of the vehicle to be purchased and loan limit guide prior to purchase.
Buyers can use an online finance calculator to work out estimated payments.
Subject to lender approval, combined heavy vehicles may be financed in the one loan.
Lenders assess the age in terms of condition and value when processing applications. The age may impact the loan amount and term.
New operators can source no doc and low doc vehicle financing through specialist lenders and brokers.