Financing a work ute or commercial vehicle

Chattel mortgage or rental for a work vehicle

There are three ways most businesses finance a work vehicle, and the right one comes down to how and when you want to own it.

A Chattel Mortgage means the vehicle is yours from day one and you finance the purchase, which is the common choice when you want it on the books as owned from the start. Rent-to-Own spreads the cost as regular rentals with ownership at the end, for a lower commitment up front. A Lease keeps the repayments steady over a set term, with the option to renew or move on at the end.

A work vehicle earns its keep from the first day it's on the road, which is why a lot of owners lean toward owning it outright over time; but if you like predictable payments or you cycle vehicles regularly, a structure that plans for the next one can suit better. You don't pick the lender for any of this. You tell us about the vehicle and the business, and someone from our team compares lenders and arranges the finance in the structure that fits, usually on better terms than going direct.

What drives the repayment

Three things move the figure more than anything else: the price of the vehicle (ex-GST), the term you run it over, and the structure you choose. A newer or higher-spec vehicle costs more to finance than an older one, simply because it costs more to buy, and a longer term lowers the monthly figure while costing a little more across the life of the finance.

We work from the vehicle price (ex-GST), because that's how the finance is calculated; the GST and the way it's treated at tax time are your accountant's territory, and they'll walk you through how it sits for your business. We won't put a rate or a total against it on this page, because the only figure worth acting on is the indicative one for your exact vehicle.

Financing more than one, or a vehicle plus fit-out

A work vehicle rarely goes in alone. There's often a fit-out, a set of racks or tools, or a second unit as the business grows, and these can sit together on one facility rather than as separate arrangements. Tell us what the full picture looks like and we'll work out the best way to fund it as one.

If you're moving into heavier vehicles, there's more on financing trucks, trailers and transport, and if you're kitting out a warehouse alongside the vehicle, financing a forklift can go on the same picture.

Who you'll deal with

You deal with a real person from our team, not a call centre and not a form that vanishes once you hit send. The same contact who arranges your finance is the one you can call when something comes up, before settlement and after. We compare the lenders so you don't have to, and we keep you in the loop in plain language the whole way through.