How Much Can You Borrow for a Freight Truck?

Key highlights

• Indicative limits depend on deposit, ABN age and truck resale value
• Low-doc facilities may reach up to around $500,000 for eligible operators
• Contracted linehaul income can support a higher approvable amount
• Deposits and trade-ins lift borrowing power and sharpen terms
• One application to 80+ lenders reveals your true indicative ceiling

What determines your freight truck borrowing limit?

Your indicative limit reflects your business and the asset combined. Lenders assess how long your ABN and GST have been active, your track record repaying equipment, the deposit you can bring, and the truck's value and resale appeal. Serviceability is central: dependable revenue from linehaul, metro freight or contracted work shows the repayments are sustainable. A newer prime mover or rigid supports a larger advance than an older, high-kilometre unit. Since every lender on our 80+ panel calculates this differently, your borrowing power is really a range rather than one fixed figure, and comparing reveals where within it your limit sits highest for you.

Does the truck's specification change the amount?

It does. A freight truck's type and configuration, whether a rigid, a single prime mover or a B-double capable unit, affects both its price and its resale liquidity, which lenders build into the advance. Trucks that resell readily in the commercial market tend to attract higher lending against their value. Very specialised or heavily worked units can be assessed more cautiously, sometimes trimming the amount or adjusting the rate. Newer builds from recognised manufacturers usually present strongest. Understanding how a lender values your specific truck before you commit helps you plan the deposit and avoid an approval that falls short of the purchase price.

How much does a deposit lift borrowing power?

A deposit can materially raise how much a lender will advance and improve your terms. Eligible applicants with strong profiles and value-retaining trucks may access no-deposit finance, but adding a deposit reduces the lender's exposure and often unlocks a higher overall limit. Trading in an existing truck works similarly, acting as equity toward the purchase. If you want to borrow more while keeping repayments manageable, pairing a deposit with a balloon payment can help balance the two. We model several combinations so you can see how deposit size shifts both your ceiling and your monthly commitment before you decide.

What income evidence supports a higher limit?

Documentation shapes the amount on offer. Established freight businesses supplying recent BAS, bank statements and financials give lenders confidence to extend more, as serviceability is clearly demonstrated. Low-doc pathways suit eligible applicants without full financials, though the advance may be capped and asset-backing carries more weight. Linehaul contracts, freight agreements or ongoing haulage work reinforce projected income and can lift the figure. Keeping your ABN, GST registration, identification and a purchase quote ready keeps the assessment smooth. The clearer your income picture, the more comfortably a lender can approach the amount you are seeking, always subject to their criteria.

What indicative amounts apply across the market?

As a general guide, commercial truck finance ranges from around $20,000 up to $10 million or more, with low-doc facilities commonly reaching up to around $500,000 for eligible operators. Indicative rates start from around 6.55% p.a., subject to assessment and your profile. These figures are indicative only, not an offer, and your actual limit depends on the truck, your deposit, your ABN history and the lender's appetite. A larger, contracted freight operation buying a mainstream prime mover will naturally sit toward the higher end. Comparing 80+ lenders is the surest way to see where your particular business lands within these ranges.

How does a broker maximise your borrowing power?

A broker matches rather than merely submits. Simon Kendrick aligns your ABN profile, deposit and chosen truck with the lenders most likely to approve a workable amount, instead of testing your luck with one bank. That precision protects your credit file and improves the odds of an offer meeting your purchase price. We also structure the facility, balancing term, deposit and balloon, so a higher borrowing figure doesn't strain your cash flow. For freight operators scaling up their haulage capacity, this tailored approach frequently unlocks more usable borrowing power than going direct to a single lender.

Want to know how much you could borrow for your next freight truck? Overdrive Truck Finance will provide an obligation-free quote based on your real profile. We begin with a soft credit check that leaves no mark, and eligible applicants can often have a decision within 24 to 48 hours. Speak with Simon, let him compare 80+ lenders, and get a clear, realistic borrowing figure before you buy.