trucks · Equipment & asset finance
Prime mover finance
A prime mover is bought against freight rates, not sticker price. We compare panel lenders and structure the term and balloon so the repayment works at your rate per kilometre.
What is prime mover finance?
Prime mover finance is funding for a heavy truck built to tow trailers, secured against the vehicle. Prime movers are the highest-value vehicles most Australian transport businesses buy, and lenders will usually extend terms to seven years with a balloon because the assets have long working lives and a deep resale market.
Australian prime movers are specified for conditions few other countries deal with: road trains in the north, B-doubles on the eastern seaboard, and long linehaul runs in heat and dust. Kenworth remains the benchmark for resale because parts and support are everywhere, but European brands have taken serious market share on fuel efficiency and driver comfort for linehaul work. Whichever badge you choose, dealer coverage along your regular route matters as much as the specification.
On finance, the balloon is the lever that matters most. A larger balloon lowers the monthly repayment but leaves a lump sum at the end that must be paid, refinanced or covered by the truck’s sale. Your broker should model both a straight term and a balloon term against your expected kilometres and trade cycle, so you can see what the truck actually costs across its life rather than just per month.
Prime mover finance at a glance
| Typical price range | $150,000 – $450,000 |
|---|---|
| Finance term | Up to 84 months |
| Useful life | About 15 years |
| New or used | Both markets are strong. New builds carry long lead times, while low-kilometre used units from fleet operators are readily financed if service records are complete. |
| Indicative rates (Chattel mortgage) | 6.9% – 14.5% p.a. · rate history |
| Finance structures | Chattel mortgage (recommended), Truck finance, Equipment loan, Finance lease |
How lenders assess prime mover finance
Prime movers are core business for asset lenders. Established operators with two years of trading and clean credit can often be funded with no deposit and a balloon of 20 to 40 per cent. First-time owner-drivers usually need a deposit, evidence of a contract or sub-contract agreement, and sometimes property backing. Age matters: many lenders want the truck to be under 15 years old at the end of the term. Private sales are accepted with PPSR clearance and payment direct to the registered owner.
Before you buy
- Ask for the full service history and engine oil sample results — a documented maintenance record is worth more than low kilometres alone.
- Match the drivetrain to your work: a B-double at 68.5 tonnes needs very different gearing and power to a single-trailer metro run.
- Check compliance dates and whether the truck meets the emissions standard required for the contracts you want to win.
Commonly financed
Kenworth T610 and T909 · Volvo FH 540 · Scania R 620 · Mack Super-Liner · Freightliner Cascadia
Estimate prime mover repayments
- Number of repayments
- 60
- Balloon at end of term
- $60,000
- Total interest (est.)
- $84,922
- Total repaid (est.)
- $384,922
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 prime mover finance?
Prime mover finance is a secured loan or lease used to buy a heavy truck that tows trailers, with the truck as security. Terms commonly run 48 to 84 months and a balloon payment is often used to bring monthly repayments in line with freight income.
Can an owner-driver finance a prime mover?
Yes, though a first-time owner-driver is assessed more closely than an established fleet. Lenders typically look for driving experience, a contract or sub-contract arrangement, clean credit and often a deposit or property ownership to support the application.