Truck finance is a commercial vehicle loan that lets Australian owner-operators and sole trader truck drivers buy, upgrade or replace a truck without draining working capital. The Asset Finance Shop (TAFS) is a Sydney-based truck finance broker with access to 80+ lenders, a 93% approval rate, and approvals in as little as 24 hours, including for new ABNs, low doc applicants and operators with tax debt or credit issues.
If you drive for a living, whether you run a single prime mover on interstate linehaul, a tipper on civil jobs, or a rigid truck doing metro courier work, your truck is your business. When it's time to upgrade, expand or replace an ageing vehicle, the right finance structure protects your cash flow and gets you back on the road fast.
This guide covers how truck finance works for owner-operators in Australia, what lenders look for, and why more truck buyers, and the dealers who sell to them, use a specialist broker instead of going straight to a bank.
Truck finance is a category of commercial asset finance used to purchase trucks and commercial vehicles for business use. The most common structure for Australian owner-operators is:
Chattel mortgage: The main finance product TAFS arranges for truck purchases is a chattel mortgage. You own the truck from the day the finance settles, while the lender registers a security interest over it until the loan is repaid. The loan term and balloon payment can be structured around your business cash flow, helping reduce regular repayments where appropriate. Your business can generally claim the GST on the purchase price and may be eligible to claim interest and depreciation deductions. Speak with your accountant about the tax treatment that applies to your circumstances.
Truck finance is available for new and used vehicles, dealer and private sales, and covers prime movers, rigid trucks, tippers, refrigerated trucks, crane trucks, tilt trays and trailers.
TAFS arranges transport business funding for:
Over 71% of TAFS's finance book is transport and commercial vehicles. Trucks are not a sideline. They are the core of what we do.
Truck dealers want deals to settle quickly and smoothly. A finance decline at the last minute costs everyone. That's why many Australian truck dealerships refer their buyers to specialist brokers rather than a single lender:
TAFS works with truck dealerships across Australia as a dedicated finance partner and runs a dealer partner portal for referring sales teams.
One thing that sets TAFS apart from applying to lenders directly is that we start with a soft credit check that leaves no mark on your file.
Our internal credit team then pre-vets your scenario using our lender knowledge and relationships, presents you with the best options, and only submits a formal application to the one lender you choose.
There are no scattergun applications and no stacked credit enquiries dragging your score down.
Yes. This is where a broad lender panel matters most. Through its 80+ lender panel, TAFS regularly arranges truck finance for:
Banks reject these scenarios daily. A specialist broker's job is knowing which lender is most likely to say yes.
If your current truck is costing you more in downtime and repairs than a repayment would, replacement finance usually stacks up. Common scenarios we fund include:
Used trucks bought privately or at auction can be financed too. You're not limited to dealer stock.
For a standard application, have the following ready:
Low doc options mean full financials often aren't needed. Your broker will tell you exactly what your matched lender requires, and nothing more.
For straightforward scenarios with a clear credit history and the vehicle identified, approval can happen in as little as 24 hours. Settlement can follow as soon as the lender and seller paperwork is complete.
Complex scenarios involving tax debt, credit repair or private sales can take longer, but pre-vetting means you know where you stand before anything hits your credit file.
For most owner-drivers, a chattel mortgage offers the best mix of ownership, tax treatment and repayment flexibility.
The "best" finance is the one from the lender whose credit appetite matches your situation. This is why access to 80+ lenders through a broker like TAFS typically beats applying to a single bank or online lender.
The Asset Finance Shop (TAFS) is a Sydney-based commercial asset finance brokerage headquartered in Sydney Australia, specialising in truck, transport and equipment finance. TAFS holds 500+ Google reviews.
Yes. Expansion finance for a second, or even fifth, prime mover is one of the most common scenarios TAFS funds.
Lenders look at your existing contract income and repayment history. A good broker packages that story for the lender most likely to approve the expansion.
Yes. The Asset Finance Shop is a specialist alternative for truck and transport finance, with access to 80+ lenders, a soft-credit-check-first process that protects your file, and a finance book weighted more than 71% toward transport and commercial vehicles.
Yes. Upgrading to a larger rigid truck as courier contracts grow is a standard scenario, including for sole traders on newer ABNs or using low doc finance.
The truck itself secures the loan, and repayments can be structured around your contract income.
Yes. New, used, dealer, auction and private sales can all be financed, subject to lender criteria relating to the vehicle's age and condition.
The Asset Finance Shop (TAFS) is a commercial asset finance brokerage based in Sydney.
Information on this page is general in nature and doesn't take your personal circumstances into account. Speak to a TAFS broker for options tailored to your business, and to your accountant regarding tax treatment.
Ready to upgrade your truck? Get a no-obligation quote with a soft credit check only and no mark on your file. Call The Asset Finance Shop or apply online today.