Truck Loans | Approved Car Loans

Truck loans in most cases would be used for business, in which you would be able to select the loan structure that best suits your business, such as chattel mortgage, commercial hire purchase or finance lease.

Trucks may be purchased with trailers and these can usually be added on to the same loan as security, enabling you to finance the full truck and trailer package. There is the ability to finance trucks purchased through dealerships or private vendors.

Commercial Chattel Mortgage

A chattel mortgage is a commercial loan product where the customer takes ownership of the truck at the time of purchase.

How It Works

  • Under a Chattel Mortgage the financier advances funds to the customer to purchase a truck, and the customer takes ownership at the time of purchase.
  • The financier then takes a mortgage over the truck as security for the loan.
  • Once the contract is completed, the charge is removed giving the customer clear title to the truck.


Commercial Hire Purchase

Commercial Hire Purchase (CHP) is also known as a Corporate Hire Purchase, Hire Purchase or Offer To Hire, and is often abbreviated as CHP or HP.

 How It Works

  • Under a Commercial Hire Purchase (CHP) arrangement the financier agrees to purchase the truck on your behalf, and then hire it back to you over a set term.
  • You have use of the truck for the term of the contract but you are not the owner.
  • You take full ownership of the truck at the end of the term when the total price of the truck and the interest charges have been paid in full.


Asset Lease

An Asset Lease enables the customer to have the use of their truck and the benefits of ownership, while the financier retains actual ownership of the truck.

How It Works

  • The financier purchases the truck on behalf of the customer, who then pays the financier a fixed monthly lease rental for the term of the lease.
  • At the end of the lease the customer can either pay a residual on the lease and take ownership of the truck, sell the truck or re-finance the residual and continue the lease.        

For more information contact us now on  (07) 3340 6700 or Apply online now!