Truck & Heavy Vehicle Finance: What You Need to Know

maxsherlock
Apr 14, 2025
2 min read

When it comes to running a business that relies on transportation or logistics, securing the right truck or heavy vehicle finance is essential. Whether you're a sole trader upgrading your first truck or a growing company expanding your fleet, having the right finance structure in place can make all the difference.

At Sherlock Loans, we specialise in helping Australian businesses navigate the often-complex world of asset finance, including car loans, business loans, and commercial vehicle finance. Here’s what you need to know before applying.

✅ What is Truck & Heavy Vehicle Finance?

Truck and heavy vehicle finance is a type of asset finance that allows businesses to purchase or lease vehicles without paying the full amount upfront. This includes:

Prime movers
Tilt trays
Refrigerated trucks
Earthmoving equipment
Trailers and more

The loan can be structured in several ways—chattel mortgage, lease, or commercial hire purchase—depending on your business goals, cash flow, and tax strategy.

🕵️‍♂️ Why Use Finance Instead of Paying Cash?

Financing your truck or heavy vehicle allows you to:

Preserve cash flow for day-to-day operations
Take advantage of instant asset write-off (check with your accountant for eligibility)
Maintain flexibility with fixed or variable repayments
Access equipment you may not be able to afford outright

Rather than tying up capital, asset finance allows your equipment to start generating income from day one.

💼 Who Is Eligible?

Truck and heavy vehicle loans are available to a wide range of borrowers:

Sole traders
ABN holders
Companies with fleets
Owner-operators and subcontractors

Even if your business is relatively new or your financials aren’t perfect, Sherlock Loans works with a broad panel of lenders to find finance options that fit your situation. In many cases, lenders will focus more on the asset and your ability to repay, rather than your credit score alone.

📝 What Do You Need to Apply?

To fast-track your approval, be prepared with:

Valid ABN and business registration
Proof of income or contracts
Asset details (make, model, VIN, etc.)
ID and basic business documents

If you’re unsure where to start, that’s where we come in. We’ll walk you through it step-by-step.

🔎 How Sherlock Loans Can Help

At Sherlock Loans, we do the detective work to match you with the right lender. With access to over 40 lenders across Australia, we compare rates, terms, and structures so you don’t have to. Whether it’s a business loan, car loan, or tailored asset finance, we’ll help you secure the right finance solution—fast.