Delivery trucks keep goods moving from depots to doorsteps, and financing one well underpins the margins of any courier, distributor or last-mile operator. From a curtainsider rigid to a refrigerated pantech, the structure and rate you secure shape your running costs. Overdrive Truck Finance puts broker Simon Kendrick and a panel of 80+ banks and non-bank lenders behind one application, so you can compare indicative delivery truck finance rates without approaching each lender separately.
Key highlights
- Indicative rates start from around 6.55% p.a., subject to assessment
- Chattel mortgage suits most GST-registered delivery operators
- Truck age, deposit and ABN history are the main rate drivers
- Bodies and refrigeration can be financed alongside the truck
- One application reaches 80+ lenders and protects your credit file
Overdrive is a specialist truck finance broker comparing 80+ banks and non-bank lenders on one application. Compare truck finance options or get a free quote in minutes.
How does delivery truck finance work?
Delivery trucks are usually funded through a commercial facility secured against the vehicle. You choose a term, commonly three to seven years, and repay in regular instalments while the truck earns from day one running deliveries. The lender holds an interest in the asset until the loan is cleared, after which title becomes yours outright. Because the truck is the security, approval rests heavily on its value and your business profile. This asset-backed structure keeps rates competitive against unsecured lending and lets delivery operators spread the cost of a rigid, pantech or refrigerated unit across its working life, aligning the outlay with the revenue it produces.
Which structure suits delivery operators?
A chattel mortgage is the usual fit for GST-registered delivery businesses: you own the truck outright while the lender holds a mortgage, and you may claim GST and depreciation, though your accountant should confirm your position. Finance lease and rental options suit operators focused on preserving cash or managing the asset differently on their books. Many add a balloon or residual to reduce monthly repayments, freeing cash for fuel, servicing and driver costs. Operators with seasonal delivery peaks sometimes prefer structures that reflect that rhythm. The right choice depends on your tax situation and cash flow, and we talk through the options so the facility fits your operation.
What drives delivery truck finance rates?
Your indicative rate reflects the asset and your business. A newer delivery truck from a recognised manufacturer, with strong resale demand, generally attracts a sharper rate than an older or higher-kilometre unit. Deposit size, ABN and GST tenure, credit history, asset-backing and loan term all feed the pricing. Lenders also weigh income stability, so steady courier contracts or distribution work support your case. Because each lender prices risk its own way, quotes for the same truck can vary noticeably. Comparing across 80+ lenders is how you discover which of them views your particular delivery operation and profile most favourably, rather than accepting one bank's number.
Can you finance the body and refrigeration too?
Often yes. Many delivery operators finance the truck together with the body it needs to do the job, whether a pantech, curtainsider or refrigerated unit, treating it as one working asset. Some lenders fund the complete setup on a single facility, while others handle the truck and specialised bodywork separately, particularly where the fit-out is significant. Bundling can simplify repayments and get the whole rig earning immediately. How this is arranged depends on the lender and the value split between the truck and its body. We help structure it so your finance covers exactly what you need to start delivering without unnecessary complexity.
What do you need to apply for delivery finance?
For eligible applicants, a low-doc application may need only your ABN, GST registration, driver licence and a quote for the truck, subject to lender criteria. Full-doc applications, which can support larger amounts or better rates, usually add recent BAS, bank statements and financials. Having the truck's details, a clear invoice and your identification ready speeds everything up. If you hold courier contracts or distribution agreements, sharing them reinforces serviceability. Good preparation reduces back-and-forth and gets your delivery truck on the road sooner, which matters when routes are waiting and every day off the road is revenue you cannot recover.
Why compare delivery lenders through a broker?
One bank gives one answer; a broker opens the whole market. Simon Kendrick compares a panel of 80+ banks and non-bank lenders on a single application, finding where your delivery truck and business are best received without multiple enquiries that could mark your credit file. Beyond securing a competitive rate, we structure the term, deposit and balloon so repayments align with your delivery income and cash flow. That mix of choice and tailoring usually beats a quick online quote, and it frees you to keep running your routes while the finance is arranged around your operation.
Thinking about a new delivery truck? Overdrive Truck Finance can provide an obligation-free quote so you know your indicative rate and structure upfront. We start with a soft credit check that leaves no mark on your file, and eligible applicants can often have a decision within 24 to 48 hours. Contact Simon, let him compare 80+ lenders, and get finance built around the way your delivery business actually runs.
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