Melbourne, VIC
Truck finance in Melbourne
The Port of Melbourne is Australia’s busiest container port, and the truck market reflects it: container shuttles running to the western suburbs, B-doubles on the Hume and Western Highway interstate corridors, and distribution fleets serving a metropolitan area that sprawls further than Sydney’s. Prime movers, skels and rigid distribution trucks all finance well. We set the term against the contract or run behind the truck rather than its maximum age.
Business finance in Melbourne
Melbourne has Australia’s most diverse business base: the country’s largest container port, a substantial manufacturing and food processing sector through the north and west, major health and education precincts, and a professional services and creative economy in the inner city. Construction has been the dominant growth driver, with extensive residential development and a large state infrastructure program running across the metropolitan area.
How we work with Melbourne businesses
Lyft Money works with Melbourne businesses by phone and video, with documents handled online and settlements arranged Australia-wide. Anthony, Stefan and Kris are based at Level 14, 3 Parramatta Square in Sydney, and a Melbourne client deals with the same broker throughout — including where a machine is being bought from a Victorian dealer and delivered interstate.
What is a truck finance?
Truck finance is secured lending used to buy prime movers, rigid trucks, tippers and specialised vocational vehicles, usually structured as a chattel mortgage over three to seven years with an optional balloon. Trucks hold value well, so lenders on our panel will fund considerably older units than they would cars.
Truck finance in Melbourne: the numbers
| Typical amounts | $20,000 – $2,000,000 |
|---|---|
| Term | 12–84 months |
| Indicative rates | 7% – 16.5% p.a. · rate history |
| Speed | 24–72 hours for established operators |
| Key Melbourne industries | Manufacturing · Construction · Transport and logistics · Cafés and hospitality · Professional services |
| Commonly financed here | CNC machine · Prime mover · Forklift · Coffee machine · Ute |
Rates shown are indicative ranges observed across our lender panel for the period stated. They are not an offer or quote. Your rate depends on your business, the lender, the amount, the term and the security offered. The lender makes the final credit decision.
Key terms
What is truck finance?
Truck finance is asset-backed business lending used to purchase prime movers, rigid trucks and vocational vehicles. The truck secures the loan, most commonly under a chattel mortgage over three to seven years with an optional balloon payment.
Can you get truck finance as a first-time owner-driver?
Yes, though options are narrower. Lenders weigh a signed freight contract, driving experience, deposit size and property ownership. A larger deposit and a reputable contract materially improve both approval prospects and pricing.
How old a truck can you finance?
Many specialist lenders will fund trucks up to 15–20 years old at the end of the term, subject to condition, service history and a clear PPSR search. Older units attract shorter terms, larger deposits and higher rates.
Truck finance questions
How old a truck will lenders finance?
Most heavy vehicle lenders look at the age of the truck at the end of the proposed term rather than its age today. A common ceiling is around 15 to 20 years at term end for a prime mover, with trailers often treated more generously because they hold value and have fewer mechanical parts. An older unit can still be financed, usually with a shorter term, a deposit or a higher rate, and sometimes with an inspection or valuation required.
Can I get finance for my first truck as a new owner-driver?
It is possible and we arrange these regularly, but it is assessed more carefully than a repeat purchase. Lenders want to see relevant driving experience, a licence class matching the vehicle, and ideally a signed contract, sub-contract agreement or letter of intent showing where the work is coming from. Property ownership or a deposit of around 10% to 20% strengthens the file considerably. Nothing here guarantees approval — each lender makes its own decision.
Should the truck and the trailer be on the same contract?
They are usually written as separate contracts even when bought together, because the assets have different lives and resale patterns. That lets you set a longer term on the trailer and a shorter one on the prime mover, or pay one out ahead of the other. Some lenders will bundle them under a single master facility with two commitment schedules, which keeps the paperwork simple while preserving separate terms for each asset.