Multiple vehicles under one arrangement
Fleet finance with one limit and one point of contact.
A master facility so vehicles four through twenty do not each need a fresh application. Your broker sets the limit and explains what each drawdown costs.
What is a fleet finance?
Fleet finance is an arrangement that funds multiple business vehicles under a single approved limit, letting a business add vehicles as needed without a new application each time. It suits operators running five or more vehicles on a rolling replacement cycle.
Once a business runs more than a handful of vehicles, applying for each one separately becomes an administrative drag and a credit-file irritant. A fleet or master facility solves that with one approved limit assessed once. Adding a vehicle becomes a drawdown request with the invoice attached, usually settled within a day or two, and each vehicle sits on its own schedule inside the overall limit.
Structure options widen at fleet scale. Chattel mortgages suit vehicles kept for their full life; operating leases suit three-year replacement cycles where residual and disposal risk is better left with the financier; and many businesses run a mix, owning the utes and leasing the passenger cars. Fleet-scale volume also brings access to fleet purchasing discounts through dealers, which frequently saves more than a rate negotiation.
The management layer is worth considering separately. Fully maintained fleet arrangements bundle servicing, tyres, registration and roadside assistance into the monthly payment, converting variable costs into a predictable figure. That costs more in total but removes real administrative work, and for a business without a fleet manager it is often the cheaper answer once staff time is counted.
Fleet finance at a glance
| Amount | $100,000 – $5,000,000 |
|---|---|
| Term | 24–60 months |
| Rate type | Fixed |
| Indicative rates (Q3 2026) | 6.5% – 12.5% p.a. · see rate history |
| Security | Secured by the asset |
| Repayments | Monthly per vehicle schedule |
| Typical speed | 1–3 weeks to establish, then 24–48 hours per vehicle |
| Best for | Businesses running five or more vehicles with a rolling replacement program |
| Consider something else if | Businesses with one or two vehicles, where individual finance is simpler |
| Tax | Treatment depends on the structure used for each vehicle and on FBT where private use is available. Confirm with your accountant. |
Advantages
- One credit assessment covers ongoing vehicle additions
- Faster settlement on each new vehicle
- Access to fleet pricing and optional maintenance bundling
Trade-offs
- Establishment takes longer than a single vehicle loan
- Limits are reviewed annually and can be reduced
- Maintained arrangements cost more in total than self-managing
How to apply for a fleet finance
- 01
Profile the fleet
Current vehicles, ages, replacement cycle and how many you expect to add over the next two years.
- 02
Set the limit and mix
Your broker sizes the master limit and recommends which vehicles suit ownership and which suit leasing.
- 03
Draw as you acquire
Each new vehicle is added under the existing approval with its own schedule.
Documents lenders commonly ask for
- Financials and tax returns
- Current fleet schedule with ages and existing finance
- Replacement plan and expected acquisition volumes
What people finance with a fleet finance
Lenders we compare for this
Macquarie, Westpac, Flexicommercial, Angle Finance, NAB and others on our panel. See the full panel.
Estimate your repayments
- Number of repayments
- 48
- Total interest (est.)
- $13,225
- Total repaid (est.)
- $88,225
This calculator provides an estimate only and does not account for fees, charges or the specific terms a lender may offer. It is not financial advice or an offer of finance.
Key terms
What is fleet finance?
Fleet finance is a master facility that funds multiple vehicles for one business under a single approved credit limit. Vehicles are added by drawdown as they are acquired, without a separate credit application for each.
What is a fully maintained fleet lease?
A fully maintained lease bundles the vehicle payment with running costs such as servicing, tyres, registration and roadside assistance into one monthly amount, giving predictable costs and reducing fleet administration.
How many vehicles make a fleet?
Most financiers treat five or more vehicles as a fleet for facility purposes, though some set the threshold at three. Below that, individual chattel mortgages are usually simpler and no more expensive.
Fleet finance FAQs
How does fleet finance differ from financing one vehicle?
Fleet arrangements put several vehicles under one approved limit, so each new vehicle is drawn down against an existing facility rather than assessed from scratch. That saves time and gives consistent pricing across the fleet. Larger fleets can add maintenance, registration and fuel management into a single monthly cost. The trade-off is an annual review of the overall limit and, in some cases, tighter reporting requirements from the financier.