Sale & Leaseback for Trucks
Sale and leaseback truck finance lets your business unlock cash from a truck you already own while continuing to use it. The truck is sold to a finance provider and leased back to your business, giving you access to working capital while keeping the truck on the road.
How Sale and Leaseback for Trucks Works in Australia
With a truck sale and leaseback, the lender values your truck, purchases it from your business and leases it straight back to you. You receive the agreed funds and continue using the same truck while making fixed lease repayments over an agreed term.
Nothing changes operationally. Your truck stays on the road and you unlock the equity tied up in it.
Sale and leaseback generally works best with late model, well maintained trucks with clear title, subject to lender criteria, valuation and approval.
We compare truck sale and leaseback finance across our lender panel to help you access the most cash available at a competitive rate and structure.
Example: $50,000 Truck Sale and Leaseback
If your business owns a truck outright worth $50,000, a lender may agree to purchase the truck for up to $50,000, subject to its valuation and lending criteria.
Your business receives the funds and leases the same truck back, allowing you to continue using it every day while making agreed repayments.
The $50,000 could be used for working capital, a tax bill, a deposit on another truck or trailer, repairs, wages, business growth or seasonal cash flow, while your existing truck stays on the road earning income.
The actual amount available, repayments, rates, fees and end of term options will depend on the lender, truck valuation and finance agreement.
Overdrive is a specialist truck finance broker comparing 80+ banks and non-bank lenders on one application. Explore truck finance across every truck and trailer type, or get a free quote in minutes.
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Low Doc, Light Doc & Full Doc Truck Finance
When applying for truck finance, lenders will generally offer Low Doc, Light Doc or Full Doc options. The right choice depends on your business structure, trading history, and the type of truck you're purchasing.
| Feature | Low Doc Truck Finance | Light Doc Truck Finance | Full Doc Truck Finance |
|---|---|---|---|
| Financial Statements Required | No | No | Yes |
| BAS Statements Required | No | Usually | Sometimes |
| Business Bank Statements | No | Yes | Sometimes |
| Approval Speed | Fastest | Fast | Standard |
| Interest Rates | Higher | Competitive | Most Competitive |
| Borrowing Capacity | Up to $500k | Up to $500k | Up to $10m+ |
| Ideal Outcome | Quick approval with minimal paperwork | Balance of flexibility and pricing | Best pricing and maximum borrowing power |
Which Option Is Right For You?
Need help deciding? Our finance specialists will assess your circumstances and recommend the most suitable asset finance solution for your business.
| If You Are… | Recommended Option |
|---|---|
| Self-employed or businesses with limited financial records | Low Doc |
| Businesses with bank statements and BAS available | Light Doc |
| Businesses with full financials | Full Doc |
Low Doc Truck Finance
Low Doc finance is designed for borrowers who want a simple, streamlined approval process. In most cases, no financial statements or BAS statements are required. Approval is generally based on your ABN history, credit profile, and the asset being financed.
Light Doc Truck Finance
Light Doc finance provides a middle ground between Low Doc and Full Doc lending. Borrowers can often qualify using recent business bank statements and limited supporting documentation, without the need for full financial accounts.
Full Doc Truck Finance
Full Doc finance is suitable for borrowers who can provide complete financial records and supporting documentation. This option typically offers the most competitive rates and highest borrowing capacity.
Sale & Leaseback for Trucks — frequently asked questions
What is sale and leaseback for trucks?
Sale and leaseback allows your business to sell an existing truck to a finance provider and lease it back for continued business use. This can release cash tied up in trucks your business already owns without taking them off the road.
How does truck sale and leaseback work?
With a truck sale and leaseback, the finance provider purchases an eligible truck from your business and leases it back to you. Your business receives funds from the sale and continues using the truck while making regular lease payments over an agreed term.
Why would a business use sale and leaseback for a truck?
Businesses may use truck sale and leaseback to unlock equity in existing trucks and improve working capital or cash flow. It can provide access to funds while allowing the trucks to remain in operation and generating income for the business.
Can I release cash from a truck I already own?
Yes. If your business owns an eligible truck outright, a sale and leaseback may allow you to release some of the value held in the truck. The amount available will depend on factors including the truck’s age, condition, market value and lender criteria.
Can I use sale and leaseback for multiple trucks?
Yes, subject to lender approval. Businesses with multiple eligible trucks may be able to use sale and leaseback across several vehicles to release capital from an existing fleet while continuing to use the trucks.
What trucks can be used for sale and leaseback?
Sale and leaseback may be available for different types of commercial trucks, including prime movers, rigid trucks, tippers and refrigerated trucks. Truck age, condition, ownership and market value can affect lender eligibility.
Who owns the truck after a sale and leaseback?
Once the sale is completed, the finance provider generally owns the truck and your business leases it back under the agreed terms. Your business continues to use the truck for its operations.
How much can I borrow with a truck sale and leaseback?
The amount available will depend on the value of the truck or trucks, their age and condition, your business circumstances and the lender’s criteria. A valuation may be required to determine how much capital can be released.
Can sale and leaseback help business cash flow?
Yes. One of the main reasons businesses consider a truck sale and leaseback is to release capital tied up in vehicles. The funds may provide additional working capital while allowing the business to continue using the trucks.
What is the difference between sale and leaseback and refinancing a truck?
Truck refinancing generally replaces or restructures existing finance while you retain the existing ownership structure. A sale and leaseback involves selling the truck to a finance provider and leasing it back. Which option is suitable will depend on your truck, existing finance, cash flow requirements and business circumstances.
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