Trailer Finance

Trailer finance allows you to purchase a new or used trailer without paying the full purchase price upfront. A lender funds the purchase, and you repay the amount over an agreed term through regular repayments. The process generally starts by looking at the trailer you want to buy, your business profile, credit history and preferred loan structure. We then compare options across 80+ lenders to find a suitable lender, rate and repayment structure for your circumstances. Depending on the lender and your situation, you may be able to choose a loan term, include a balloon or residual payment, and finance the trailer with or without a deposit. Once you’re happy with the proposed finance option and give us the go-ahead, we submit the application to the most suitable lender. This is when a formal credit enquiry may be made. If approved, the documents are signed and the lender pays the seller, allowing you to take ownership of the trailer and begin making your agreed repayments.

We can arrange finance for a wide range of new and used commercial trailers, including semi trailers, flat top trailers, drop deck trailers, low loaders, refrigerated trailers, curtainsiders, tautliners, tipper trailers, side tippers, dog trailers, tanker trailers, fuel tankers, livestock trailers, car carriers, skel trailers, extendable trailers and other specialised trailers and related equipment.

Not with an ABN alone. If you’re a new business or don’t have full financials, there are lenders that may still consider your application, but they’ll generally want to see a registered business, a confirmed source of work with a reputable company, and usually a deposit. The work doesn’t necessarily need to be under a formal contract, but the lender will typically want to verify the work details verbally. The deposit required will vary depending on your overall credit profile, business experience and the trailer you’re purchasing. We can assess your situation and determine which lenders and finance options are available without putting you through unnecessary applications.

Yes. We arrange finance for new, used and older trailers, whether you’re buying from a dealer, private seller or auction. The trailer’s age, value and condition can influence which lenders and finance options are available. We can compare options from lenders that finance a wide range of used and older trailers to find a suitable deal for your circumstances.

Trailer finance rates typically start from around 6.55% and can range to 15%, depending on your credit profile, business history, financials, trailer age, loan amount and preferred loan terms. Eligible applicants financing newer trailers may qualify for rates at the lower end of this range. We compare options across 80+ lenders to find competitive rates and repayments suited to your credit profile and preferred terms. Where possible, we’ll also negotiate directly with lenders to secure a better deal. Rates are indicative only and subject to lender criteria, credit assessment, fees, terms and approval.

Trailer finance terms are generally available from 1 to 7 years, depending on the lender, age of the trailer and your circumstances. We can structure the term and repayments around your business cash flow and how long you plan to keep the trailer.

Depending on your circumstances, low-doc trailer finance may be available up to $500,000, while full-doc finance can extend to $5–10 million+ for larger purchases or fleets. Your borrowing capacity will depend on factors such as your business financials, trading history, the asset being financed and the lender’s criteria.

Not always. Eligible applicants may qualify for up to 100% trailer finance with no deposit, while other applications may require a contribution depending on your credit profile, business history, trailer age and lender criteria.

Yes. You can finance a trailer separately from your prime mover or truck. This can be useful when you’re adding another trailer, replacing an existing one or purchasing a trailer without changing your current truck.

Yes. We can arrange trailer finance for purchases from dealers, private sellers and auctions across Australia. Different lenders have different requirements for private and auction purchases, so we match your transaction with lenders suited to the purchase.

Yes, depending on your eligibility. Low doc, lite doc and no financials trailer finance may be available without providing a complete set of business financial statements. Requirements vary between lenders and may include BAS statements, bank statements or other business information.

Yes. Having bad credit doesn’t necessarily mean you can’t get trailer finance. We work with a range of lenders and can explore options based on your individual circumstances, business history and the trailer you’re looking to finance. Every application is different, so approval isn’t guaranteed, but we’ll work to find the most suitable finance option available for your situation.

A balloon is a lump sum left owing at the end of the finance term. Including a balloon can reduce your regular repayments, but it leaves a larger amount to pay or refinance at the end. The right balloon depends on your trailer, finance structure and business cash flow.

Depending on the finance structure, business use and your circumstances, you may be eligible to claim GST credits, depreciation and interest expenses. Tax treatment varies, so you should speak with your accountant or tax adviser about your specific circumstances.

Most of the time, we can get same-day approval. Some applications may take 24–48 hours, depending on the asset you’re purchasing, your business background, the complexity of the application, and whether the lender requires any additional information or documentation. We work to match your application with the most suitable lender from the outset, helping keep the approval process as quick and straightforward as possible.

Getting a trailer finance quote with Overdrive has zero impact on your credit score. We don’t require any upfront credit checks to provide you with a quote. A formal credit enquiry is only made once you give us the go-ahead to proceed with your application and we submit it to the most suitable lender.

Trailer finance is available to eligible Australian ABN holders, including sole traders, owner drivers, partnerships, companies and other businesses purchasing trailers for business use.

Trailer finance rates and lending policies can vary significantly between banks and commercial lenders, particularly for used, older or specialised trailers. Our job is to compare 80+ lenders to find competitive rates and repayments for your credit profile and preferred terms, then use our lender relationships to negotiate pricing for a better deal where possible. We match your trailer and circumstances with the lenders best suited to the transaction, helping secure the sharpest available trailer finance rate and terms for your business.