Rigid truck finance lets Australian businesses fund a new or used rigid, from light-duty tradie trucks to heavy rigids for distribution or construction, without tying up cash reserves. As a broker, Overdrive Truck Finance compares 80+ banks and non-bank lenders to find a structure and rate suited to your rigid purchase and your business.
What Counts As A Rigid Truck
Rigid trucks cover everything from light-duty tradie trucks and tippers through to medium and heavy rigids used for local distribution, waste, concrete and construction work. Unlike a prime mover and trailer, the chassis and body are one fixed unit, which makes rigids popular with owner-operators and small-to-mid fleets that need a versatile, everyday workhorse. Because rigids span such a wide weight and value range, with purchase prices varying widely depending on the make, model, age, condition and body or fit-out, lenders assess them individually, and the right finance structure depends heavily on the vehicle's age, use and value.
Finance Options For New And Used Rigids
Whether you're buying a brand-new rigid from a dealer or a well-kept used unit from a private seller, finance structures such as chattel mortgage, finance lease and novated arrangements are all commonly used, with chattel mortgage typically the most popular choice for GST-registered businesses. Used trucks can generally be financed too, though lenders will factor in age, kilometres and condition when setting terms. As a broker, Overdrive Truck Finance compares 80+ banks and non-bank lenders to match the structure and lender to your rigid purchase and your business goals.
Rates, Terms And Loan Amounts
Rigid truck finance through our panel of 80+ lenders may be available from 6.55% p.a. for strong-profile applicants, with rates rising to around 15% p.a. for higher-risk scenarios such as newer businesses, lower-doc applications or older vehicles. Loan amounts typically range from $20,000 to $10M+, with terms from 1 to 7 years so repayments can be matched to the truck's expected working life and your cash flow. Rates quoted are indicative only and remain subject to lender criteria, credit assessment, fees, applicable terms and final approval.
Low-Doc, No-Deposit And Fast Approvals
Sole traders and small operators without full financials may still qualify through low-doc, lite-doc or no-doc pathways for finance up to $500,000, while larger, fully documented purchases can be arranged up to $10M and beyond on a full-doc basis, subject to approval. No-deposit and up to 100% finance options may also be available for eligible applicants, which can help preserve working capital when adding or replacing a rigid. Some applications may receive a same-day pre-approval, with outcomes on full approval subject to lender assessment and often confirmed within 24 to 48 hours.
New Versus Used: What Lenders Look At
New rigids tend to attract more competitive terms since the vehicle's value and condition are straightforward to assess, while used rigids are still readily financed but with more attention paid to age, service history and remaining economic life. Buying privately, at auction or through a dealer can all be financed, and a broker can help structure the deal so the loan term doesn't outlast the truck's useful working years. Getting finance sorted before you shop also puts you in a stronger negotiating position, whether the seller is a dealer or a private party.
Get An Obligation-Free Rigid Truck Finance Quote
If you're weighing up a new or used rigid truck, Overdrive Truck Finance can compare options across our panel of 80+ lenders and put together an obligation-free quote tailored to your business. Enquiring involves a soft credit check only, so it won't affect your credit score, and eligible applications may receive a same-day pre-approval, subject to lender assessment. Reach out today to get the conversation started.
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