Compare Truck Loans

Whether new or established
Starting Your Truck Loan.
$
years

The Lorry Loan Low-down

Need a ride sooner rather than later?

Some businesses need a truck to get started. Others need lots of trucks. Paying for all of that by yourself is brutal, even more so if you’re just starting out.

Getting a loan seems like a no-brainer solution, but there’s a lot to think about with truck financing. And for such a huge investment, you better think about it; the last thing you want to be doing is rushing headlong into the first lender you see, only to be stuck with a ball and chain you didn’t ask for.

Why choose LoanOptions.

Between the big banks and all the various lenders, looking at your options probably feels like you just got hit by a truck, or several. How do you pick out the best one?

LoanOptions is the tool for the job! Instantly find and compare over 60+ lenders in our loan marketplace, with all the info laid out to help you pick the best one quickly and easily. Using Ai technology this process takes seconds. Hit the ground running without any hassle!

How old is your business?

If you’ve been around for a while, naturally people trust you a bit more. It’s the same for truck financing: businesses that have an ABN older than two years tend to get better deals from lenders, and don’t need to show proof of income or put in a deposit to get them. They might also have lower interest rates. It’s understandable, since trucks are so expensive, it sure is frustrating for aspiring entrepreneurs.

That doesn’t mean there’s no help if you’re a new business start up, but it’s an uphill battle if you don’t finance right. We’re in the business to make it easier for all our customers and we understand the struggle, which is why LoanOptions can find and compare truck loans that are friendlier to newer companies for you to pick out freely. Be smart and give yourself a better chance, let LoanOptions do the work for you!

Senior trucks are costly

Common sense dictates that buying a newer vehicle costs more than going for one that’s used and has racked up some mileage. But when you’re trying to get a truck financed, you might find that you’ll be saving next to nothing with an older model. What gives?

Simply put, older trucks are risky business. They might break down and need repairs (or just stop working altogether), and if they need to be repossessed, they’re not going to fetch much at auction. If you know anything about lenders, you know that they hate risk. They either just refuse to finance it, or pile on premium after premium to get payments sky high. In the end, you’ll probably be paying just about as much as you would for a newer truck.

If you’d still rather go for a “classic” model, LoanOptions’ comparison tool can show you lenders who aren’t as strict about truck age so you can get what you need.

Some things to think about...

Do We Have Your Interest Rate?

With all the moving parts that might go into a loan, your final interest rate is almost never exactly what it says on the tin. LoanOptions presents all of this information to you clearly for comparison’s sake. You’ll never miss the fine print again in your life with us!

Tax-deductible

Truck loans can actually allow room for tax deductions. As long as the truck is used for commercial purposes, any interest you pay on the loan is considered a business expense, which becomes tax deductible. Other avenues such as chattel mortgage and depreciation can provide room for further deductions.

Balloon payment?

Some truck loans offer an option called “balloon payment”. The amount you pay every period before the last is lower compared to normal, but then here comes the balloon–you have to pay a larger sum at the end of the loan. Most lenders let borrowers either refinance the balloon amount and continue periodic payments to keep the truck, or trade in the truck at a dealer to pay off the loan. Whether or not you should go for a balloon depends on your business’ finances, but it’s always good to have options.

Ready to start? 60+ Lenders are waiting!

including Banks, non-bank and private lenders!

Made up your mind? Get started with LoanOptions, and we can jump start you with pre-approval for over 60 lenders, including the big banks and private lenders. Using our AI-powered tool, get to exploring all of your options to compare and discover the best loan for you!

No Bull#@*% here.

We’ll tell you what you need to know, enquire with LoanOptions and take one step closer to getting your business loan. Get The Best Outcome For You

Look out for these things.

Ask yourself these questions:

Deposits..

Some financers make businesses cough up a deposit.

Docs.

Lenders might ask for proof of income or financials for big loans.

Age.

Not every lender is willing to pay for a truck that’s older than 5 years.

Premiums.

If you’re in a dangerous line of work, lenders might tack on extra on the interest rate.

Credit.

Your business’ credit rating will change your options.

Still have questions?

If you have any questions or enquiries,
visit our FAQ bunker or give us a call

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Sushant Gurav
a week ago
Ravi has been an absolute delight to work with! His prompt responses, unwavering dedication, and invaluable assistance have made my car-buying experience smooth and stress-free. From start to finish, Ravi went above and beyond to ensure I found the perfect vehicle within my budget. His expertise and genuine commitment to customer satisfaction are truly commendable. I highly recommend Ravi to anyone looking for a reliable and supportive car broker. Thank you, Ravi, for your outstanding service!
Smile No. 844
Jivesh Kumar
2 months ago
I had an amazing experience our broker Prashant! He helped me achieve a great deal. He ensured that I was satisfied with what I was being offered, he is very quick and prompt. I highly recommend him to anyone needing a loan.
Smile No. 843
Elvis Ongeti
2 weeks ago
Strongly recommend Brooke. She was recommended to me by my mortgage broker. From the outset, Brooke arranged for a call within a matter of hours, gathered all the necessary information and within 2 days got us an approval for our car loan. Brooke took time to understand what we were after and delivered precisely that. The thing I like the most about the car loan was the fact there are no early redemption costs. That means if I landed cash today, I could literally pay off the loan with no extra charges! Thank you so much Brooke!
Smile No. 842
Kayla Adendorff
a week ago
Fiona was absolutely amazing. She helped me consolidate all my loans and went out her way to ensure I go the best deal. She was very prompt with her replies and she went out her way to ensure it was done in a timely matter. I highly recommend her services
Smile No. 841
Michelle King
a month ago
We recently had the pleasure of having Eugene assist us with our loan. From the moment we spoke with him, he displayed unmatched professionalism and expertise. His deep understanding of the market and dedication to finding the best solution for his clients is truly commendable. Eugene guided us through every step of the process with patience and clarity, ensuring we fully understood our options. He was always one step ahead and extremely efficient! Thanks to his strategic advice, we secured a great deal in a timely manner. I can't thank Eugene enough for all his help and would highly recommend him to anyone needing financial assistance!
Smile No. 840
stay cool, stay coolLoan Option

More than 788 smiles, laughs & warcries

Loan Option
Sushant Gurav
a week ago
Ravi has been an absolute delight to work with! His prompt responses, unwavering dedication, and invaluable assistance have made my car-buying experience smooth and stress-free. From start to finish, Ravi went above and beyond to ensure I found the perfect vehicle within my budget. His expertise and genuine commitment to customer satisfaction are truly commendable. I highly recommend Ravi to anyone looking for a reliable and supportive car broker. Thank you, Ravi, for your outstanding service!
Smile No. 844
Jivesh Kumar
2 months ago
I had an amazing experience our broker Prashant! He helped me achieve a great deal. He ensured that I was satisfied with what I was being offered, he is very quick and prompt. I highly recommend him to anyone needing a loan.
Smile No. 843
Elvis Ongeti
2 weeks ago
Strongly recommend Brooke. She was recommended to me by my mortgage broker. From the outset, Brooke arranged for a call within a matter of hours, gathered all the necessary information and within 2 days got us an approval for our car loan. Brooke took time to understand what we were after and delivered precisely that. The thing I like the most about the car loan was the fact there are no early redemption costs. That means if I landed cash today, I could literally pay off the loan with no extra charges! Thank you so much Brooke!
Smile No. 842
Kayla Adendorff
a week ago
Fiona was absolutely amazing. She helped me consolidate all my loans and went out her way to ensure I go the best deal. She was very prompt with her replies and she went out her way to ensure it was done in a timely matter. I highly recommend her services
Smile No. 841
Michelle King
a month ago
We recently had the pleasure of having Eugene assist us with our loan. From the moment we spoke with him, he displayed unmatched professionalism and expertise. His deep understanding of the market and dedication to finding the best solution for his clients is truly commendable. Eugene guided us through every step of the process with patience and clarity, ensuring we fully understood our options. He was always one step ahead and extremely efficient! Thanks to his strategic advice, we secured a great deal in a timely manner. I can't thank Eugene enough for all his help and would highly recommend him to anyone needing financial assistance!
Smile No. 840