Truck & Equipment Finance with Avara

The best way is to use an online truck loan calculator. Enter the total loan amount (the purchase price minus any deposit), the interest rate, your preferred loan term, and any balloon payment. The calculator will estimate your weekly, fortnightly, or monthly repayments. For the most accurate picture, ask your finance manager for a realistic rate based on your credit profile and the vehicle you’re looking to buy. Remember that calculators provide estimates only – your actual repayments may vary once a lender assesses your full application. You can try Avara’s calculator on our calculators page to compare different scenarios, and our team can provide a personalised quote to help you plan your budget with certainty.

There are several important factors to consider when choosing truck finance: the interest rates and total cost of the loan over its full term, repayment frequency and monthly payment amounts, the loan term length, whether a balloon payment suits your cash flow, your business’s accounting method, and tax implications, including depreciation and GST. You should also consider whether you need to own the asset outright or whether keeping it off your balance sheet through a lease would work better for your financial position. Your credit history, the age and condition of the vehicle, any deposit or private savings you can contribute, and each lender’s eligibility requirements also play a role. A specialist truck finance broker can help you compare these factors across multiple lenders to find the best fit for your business. For more information, visit our FAQs page.

Truck finance interest rates in Australia currently start from approximately 7.49% p.a. for strong applicants with good credit and a solid business track record. However, the rate you’re offered will depend on several factors, including your credit score, business financials, the age and type of truck, any deposit amount, and the loan-to-value ratio. Rates can range up to around 15% p.a. or higher for borrowers who require low doc options or have more complex credit histories. Because rates vary significantly between lenders – from the big banks through to specialist truck lenders – working with a broker like Avara, who can compare across a broad panel, is one of the best ways to secure a competitive rate. Our team can provide a personalised quote based on your individual circumstances, so you know exactly what to expect. Apply online for a fast quote.

It depends on your business’s financial goals, tax position, and how you plan to use the vehicle. Leasing offers lower monthly repayments, keeps the asset off your balance sheet, and makes it easier to upgrade to newer models at the end of each term. It’s a strong option if you require flexibility and prefer to treat your truck or trailer as an operational expense. Buying through a chattel mortgage or hire purchase means you build equity in the asset, benefit from depreciation deductions, and own the truck outright at the end of the loan. Purchasing is generally better suited to businesses that plan to keep their commercial vehicles for longer periods. There’s no one-size-fits-all answer – the best choice depends on your personal and business circumstances. Avara’s team of finance experts can help you compare both options and find the right solution for your needs, whether you’re financing a single truck or an entire fleet. Get in touch to discuss your options.