Truck Finance Western Australia

With a chattel mortgage you own the truck from day one while the lender holds it as security. If you are registered for GST you can claim the GST upfront, and you can claim depreciation on the truck. With a finance lease the lender owns the truck, with set monthly payments and a residual agreed at the start; at the end you can pay the residual, extend the lease, or return the truck and cover any shortfall. Equifund's chattel mortgage vs finance lease guide compares both in full. Source: ATO.

Yes. Some lenders on our panel offer structured repayments, such as seasonal schedules for Wheatbelt grain haul, or lower early repayments for contract work on infrastructure projects. Each lender sets its own criteria, and your specialist matches you to lenders that offer the schedule you need.

Freight income recognition is how a specialist lender reads income from freight invoices, contractor payments and transport activity, rather than treating only PAYG salary as income. Specialist lenders assess freight income directly, so established operators may qualify where a standard bank template does not fit.

Yes. WA operators can refinance an existing truck loan to restructure repayments or a balloon, release equity from the asset, or consolidate multiple truck loans into one facility, subject to lender approval.

Low-doc truck finance is assessed on a reduced set of documents, usually a signed declaration plus business activity statements or recent bank statements, instead of full financials. Many low-doc programs look for an ABN of around 2 years and GST registration, though some accept less. It suits established small-fleet operators whose financials aren't up to date. Exact documents vary by lender.

Settlement timing depends on the lender and the asset details, and follows signed contracts and any final lender conditions. Pre-approval is typically inside 24 hours* once you submit the form.

Sometimes. Some lenders on our panel consider newer ABNs where you can show continuity in the industry, such as a freight contract or past driving work, plus recent BAS or bank statements. A deposit is more likely to be needed, as $0 deposit for prime applications typically needs an ABN of 2 years or more. Your specialist checks which lenders suit your profile before anything is submitted.

Not always. Many lenders on our panel take the truck itself as security, so you don't need to offer your home. They assess your freight income, ABN, trading history, credit file and the truck's age and value. Owning property can still help with the deposit or loan size, depending on the lender and your profile. Sources: business.gov.au, RBA.

Not necessarily. $0 deposit for prime applications is available from some lenders on our panel. Prime applications typically have an ABN of 2 years or more, GST registration and a clean credit file. Owning property can help with some lenders but isn't always required. Other deals may need a deposit depending on the asset, the lender and the loan term, and your specialist confirms what each lender would need before you apply.

Usually, yes. Many lenders look for GST registration for low-doc finance and for $0 deposit for prime applications. Once registered, you can generally claim the GST in the truck's price as a credit in your BAS, upfront on a chattel mortgage or hire purchase. Registration is required once GST turnover reaches $75,000. Sources: ATO credits, ATO hire purchase, ATO registration.

Yes. Dealer purchases, private sales, auctions and end-of-lease buyouts can be financed, provided the truck meets the lender's age and condition requirements.

Pre-approval is an indicative, conditional offer issued before you commit to a truck. It sets out the loan amount, rate, term and repayment structure, subject to the lender's full credit and verification check.

An Australian Credit Licence (ACL) is issued by ASIC and permits the holder to engage in credit activities under the National Consumer Credit Protection Act 2009. Equifund does not hold its own licence: it operates as a credit representative authorised under another licensee's credit licence. EF Financial Group Pty Ltd ACN 647 510 790 CRN 530270 Authorised under Australian Credit Licence Number: 389328. Source: ASIC.