At a glance

Typical truck finance rate ranges (p.a.) in Australia

Established business (full‑doc): 7.9% – 10.5% for prime applicants on late‑model trucks
Near‑prime / light blemishes: 10.5% – 14.9% depending on stability, LVR and asset
Startup or low‑doc: 12.9% – 18.9% where limited financials or short trading history

Biggest rate drivers

Trading history and profitability (ABN/GST registration, years trading, BAS/financials)
Asset profile (new vs used, age/kilometres, make/model, resale strength)
Leverage and structure (deposit/LVR, term length, balloon/residual)
Credit conduct (company and directors; ATO debts; bank statement behaviour)
Market funding costs (e.g., RBA cash rate changes flow through to lender pricing). See the Reserve Bank cash rate: RBA cash rate.

Current truck finance rates in Australia

The ranges below reflect typical pricing we see across common structures such as chattel mortgage, commercial hire purchase and finance lease for heavy vehicles. Actual outcomes vary by lender and application strength.

Prime, full‑doc: 7.9% – 10.5% p.a. (assumes 2+ years trading, clean credit, positive BAS/financials, late‑model truck, ≤100% LVR, 36–60 month term)
Near‑prime: 10.5% – 14.9% p.a. (assumes minor credit blemishes or tighter cash flow, older truck, or higher LVR)
Startup / low‑doc: 12.9% – 18.9% p.a. (assumes <2 years trading and/or limited financials; often improved with a deposit or stronger asset)

Note: New trucks generally price 0.5% – 1.5% lower than equivalent used units; very old/high‑km trucks can add 1% – 3% to the rate or limit LVR/term.

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What drives your truck finance rate?

Truck finance rates are set from a base funding cost, then adjusted for application risk and structure.

Borrower strength: Years trading, GST registration, BAS trends, profitability, and liquidity
Credit profile: Director and business credit conduct, enquiries, ATO debt, external arrears
Asset risk: Age, kilometres/hours, brand, resale depth, and whether dealer/private sale
Structure: Deposit/LVR, term (24–84 months typical), balloon/residual size, documentation type
Market costs: Lenders reprice when wholesale funding or the RBA cash rate moves

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Fees and total cost to expect

Beyond the interest rate, most lenders charge some or all of the following. These are typical ranges for commercial truck loans in Australia:

Application/Documentation fee: $495 – $995 (often capitalised into the loan)
PPSR registration: $6 – $30 per asset
Monthly account fee: $0 – $15
Early termination fee: Usually a flat fee and/or interest adjustment; check your contract
Broker/lender establishment charges: Sometimes bundled into the doc fee or disclosed separately

When comparing options, assess the total cost over the term including fees and any balloon/residual, not just the headline rate.

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Typical deposit, LVR, terms and balloon limits

Deposit/LVR: 0% – 20% deposit is common. Strong files can achieve up to 100% LVR (no deposit). Near‑prime/startups may be asked for 10% – 30% to reduce risk.
Terms: 24 – 84 months typical. Heavier use or older trucks often sit 36 – 60 months.
Balloon/Residual: Generally 10% – 40% depending on age, usage and policy. For finance leases, many lenders reference ATO residual guidance for reasonableness; see ATO info on leasing and residuals: ATO – Leasing a car.

Balloon/residual settings alter both the repayment and the total interest paid. Higher balloons lower the repayment but increase interest across the term and leave more to pay at the end.

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Worked example: repayments and total cost

This is a transparent example showing inputs, method and total cost including fees and balloon.

Asset price (incl. GST): $220,000
Deposit: 10% ($22,000)
Amount financed: $198,695 (includes $695 doc fee capitalised)
Term: 60 months (fixed)
Balloon (final value): $66,000 (30% of purchase price)
Interest rate: 9.90% p.a. fixed
Monthly account fee: $8
PPSR fee: $8 (paid upfront)
GST treatment (chattel mortgage): You may be able to claim the $20,000 GST input credit on your next BAS if eligible. This does not change repayments but improves cash flow.

Method: Standard amortising schedule with a final balloon. Monthly rate r = 9.90%/12. Payment calculated on PV net of discounted balloon.

Estimated monthly repayment (P&I only): $3,358
Total monthly fees over term: $480 ($8 × 60)
Total paid over term (repayments + monthly fees): ~$201,960
Plus deposit: $22,000
Plus balloon at end: $66,000
Plus PPSR upfront: $8
Approximate total outlay: $289,968

Numbers are indicative only and for illustration. Actual pricing depends on your file, asset and lender policy.

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Do new and used trucks price differently?

Yes. New or late‑model trucks with strong resale typically price 0.5% – 1.5% lower than comparable used units. Very old/high‑kilometre trucks can add 1% – 3% to the rate, reduce the maximum term, and/or require a deposit. Example:

New prime mover (12 months old): 8.5% – 10.0% p.a. typical for full‑doc
10‑year‑old rigid with high kms: 11.5% – 15.0% p.a. depending on condition, buyer strength and LVR

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About quotes, approvals and credit checks

Indicative quotes: We can outline realistic ranges without placing a hard enquiry.
Consent before checks: No credit enquiry is made without your explicit consent.
Type of enquiry: A formal application generally involves a “hard” enquiry on your commercial/consumer file. Early discussions may rely on a “soft” assessment of documents you provide.
Documents that help: Driver licence, ABN/GST details, last 3–6 months BAS or bank statements, most recent financials, invoice or spec sheet for the truck.

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Get help with truck finance rates

Want a tailored range based on your business and the truck you’re buying? Send an enquiry and we’ll outline options, rates and likely terms.

Frequently asked questions

What are truck finance rates right now?

As at 18 April 2026, typical ranges we see are 7.9% – 10.5% p.a. for established full‑doc borrowers on late‑model trucks, 10.5% – 14.9% p.a. for near‑prime files, and 12.9% – 18.9% p.a. for startup/low‑doc scenarios. Your asset, LVR, term and credit profile can shift you up or down within these bands.

Do new and used trucks price differently?

Yes. New/late‑model trucks often price 0.5% – 1.5% lower. For example, a full‑doc borrower might see 8.8% on a 2024 prime mover but 10.5% – 12.0% on a 2014 unit with high kms. Older assets may also face shorter terms or require a deposit.

How much deposit do I need?

Many prime applications can be approved at 0% deposit (up to 100% LVR). Near‑prime/startups are commonly asked for 10% – 30%. A deposit can reduce the rate and improve approval odds.

What terms and balloons are common?

24 – 84 months is typical. Balloons/residuals of 10% – 40% are common depending on age/usage and lender policy. For finance leases, lenders often reference ATO residual guidance for reasonableness over the term.

Which structure is usually the sharpest on rates?

For business buyers, chattel mortgage and commercial hire purchase are often similarly priced. Finance lease can be close as well. The bigger swings usually come from the application strength, asset risk and LVR rather than the product label alone.

How do RBA changes affect my rate?

Lenders source funds from markets that are influenced by the RBA cash rate and other wholesale costs. When funding costs rise or fall, lenders typically adjust truck finance pricing. See the RBA cash rate for current settings.

Final takeaway

Truck finance rates in Australia depend on your profile, the truck you’re buying and how you structure the loan. Focus on total cost (rate, fees and balloon) and choose terms that match the vehicle’s working life and your cash flow.

If you want a quick, realistic range for your situation, we can help.

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