A car, ute or van for the business, financed as a business asset.
- Funds can settle with the seller within 2 business days through some lenders, once the file is in
- Borrow $20K to $500K, for a single vehicle or a small fleet
- Sole traders, partnerships, companies and trusts buying a vehicle mainly for business use
- Cars, utes, vans and 4WDs, new or used, from a dealer, a private seller or an auction
- Full-doc (tax returns), low-doc or alt-doc (BAS, bank statements or an accountant's letter instead), plus no-doc for some scenarios, across 90+ lenders
The vehicle is part of how you earn. It carries the tools to site, takes stock to customers or gets you to client meetings, and when it is off the road the work slows down. A business car loan funds a car, ute or van that the business will use mainly for its own work. Because the purpose is business, the lender looks at your ABN, how long you have traded and what the business can repay, rather than a payslip. The vehicle itself is the security, so property does not have to be offered. Joseph Farhat and his team can look at the vehicle, the price and the paperwork you have on hand, and tell you quickly what lenders are likely to do with it.
Who we can help access finance
- Tradespeople replacing the ute that carries their tools and gets them to each job.
- Couriers, florists, caterers and mobile service businesses adding a van to keep up with orders.
- Real estate agents, sales consultants and property managers whose car is where most of their working day is spent.
- Sole traders with an established ABN whose latest tax return has not been lodged yet.
- Companies buying a second or third vehicle for staff, financed in the company's name.
- Owners who have found the right vehicle through a private listing or an auction and need settlement lined up with the seller.
- Businesses that took dealer finance on an existing vehicle and want to see what the wider panel would offer.
How Business Car Loans Work
The first question is what the vehicle is mainly for. The National Credit Code covers individuals who borrow mainly for personal, domestic or household purposes. A vehicle bought mainly for the business falls outside it and is assessed as commercial lending. That changes the paperwork: the lender works from your ABN, your trading history and your business accounts or bank statements. If the car will mostly be the family car, it is consumer lending, and our [car and vehicle loan](/personal-finance-broker/car-vehicle-loan) page covers how that works.
Most business vehicle purchases are written as a [chattel mortgage](/commercial-finance-broker/chattel-mortgage). The business owns the vehicle from the day of purchase and the lender holds security over it until the loan is repaid. Some businesses use hire purchase or a lease instead. Which of these suits your accounts, and how GST and income tax apply, is a question for your accountant. We are a finance broker, not a tax adviser, so we set out the options and leave that decision with the person who prepares your returns.
Repayments are usually fixed for a term of 1 to 7 years. A balloon can be added, which is a lump sum left owing at the end; it brings the regular repayment down and adds to the total interest. On-road costs such as registration, CTP insurance and stamp duty can often be included in the amount financed, depending on the lender. Joseph Farhat and his team review the vehicle, the business and the documents available, choose the lenders from our panel of 90+ bank, non-bank, and specialist lenders that suit that combination, and manage the file through to the day the seller is paid.
What Lenders Assess for Business Car Loans
ABN and trading history
how long the ABN has been active and whether it is registered for GST. A longer trading record opens more low-doc options and sharper pricing.
Business use
lenders ask you to confirm in writing that the vehicle is mainly for business. Where the use is mostly private, the file belongs with consumer lending instead.
The vehicle
make, age, kilometres and type. Most lenders set a maximum age the vehicle can reach by the end of the term, which shortens the term on older cars.
Documentation
full financials, or BAS and business bank statements under a low-doc policy. Each lender sets its own ceiling for how much it will lend on lighter paperwork.
Capacity to repay
the new repayment is tested against the business income and the commitments already in place, including any other vehicle or equipment loans.
Deposit or trade-in
often not needed on a newer vehicle from a dealer. A contribution can improve pricing and widen the lender choice on an older or private-sale vehicle.
The seller
dealer purchases settle most simply. A private or auction purchase needs a check that no finance is still owing on the vehicle before funds are released.
The Business Car Loan Process: What to Expect
- Tell Joseph Farhat and his team about the vehicle, the price, how the business will use it and what paperwork you can provide. You get a straight read on what is likely before anything is lodged.
- Send the basics: the dealer quote or the private seller's details, your ABN, and recent business bank statements or BAS. Full financials are needed only where the lender's low-doc ceiling is exceeded.
- We place the file with the lender on the panel whose policy fits the vehicle, the use and your documents. Each credit enquiry is recorded on your file, so choosing the first lender carefully matters.
- The approval sets out the rate, term, fees and any balloon. We walk through the repayment and the total cost with you before you sign.
- The lender pays the dealer or seller, registers its security over the vehicle, and you collect the keys. Repayments start on the agreed date.
Indicative Finance Options
| Lender Type | Indicative Rate | Typical Loan Range | Loan Term | Deposit Required | Speed to Funding |
|---|---|---|---|---|---|
| Bank | From ~7% p.a. | $20K to $500K | 1 to 7 years | Often none on a newer vehicle | 3 to 10 business days |
| Non-Bank Lenders | From ~9.5% p.a. | $20K to $300K | 1 to 7 years | None to 20% | Within 2 business days |
| Private Finance | Not typically used for business car loans. Available for unique scenarios | ||||
Indicative figures only. Actual rates and terms depend on your project, financial position, property location, and lender assessment at the time of application. Rates are subject to change.
Why borrowers choose Settled With Joe for business car loans
We represent you, not the lender
Joseph Farhat and his team act for your business, from the first call about the vehicle until the keys are handed over.
The purpose question handled properly
we set the loan up as business or consumer lending based on how the vehicle will really be used, so the paperwork matches the facts.
Dealer finance compared, not just accepted
the offer at the dealership is one quote, and we can set it beside what bank and non-bank lenders on the panel would do.
Low-doc ceilings known in advance
lenders differ on how much they will lend against BAS and bank statements, and we know where those limits sit.
Older and private-sale vehicles
some lenders accept higher kilometres, older models and private sellers more readily than others, and we start with those.
90+ bank, non-bank, and specialist lenders
full financials can go to a bank at a sharper rate, and a newer ABN or lighter paperwork still has options.
Private finance for unique scenarios
where bank and non-bank lenders are not the right fit, we can introduce you to private finance options.
Usually no direct cost to you
as a broker we are typically paid by the lender on settlement.
An honest answer early
if the old vehicle has died or a seller is holding the new one for a few days, call us first and we will say plainly what can be done in that time.
Frequently asked questions
What is a business car loan?
A business car loan is finance for a car, ute or van that a business uses mainly for its work. The vehicle is the security for the loan, and the lender assesses the business: its ABN, trading history and capacity to repay. Most are written as a chattel mortgage over a term of 1 to 7 years, with fixed repayments and the option of a balloon at the end.
Can I use ABN low-doc?
Often, yes. Many lenders will approve a business vehicle against your ABN, GST registration and recent BAS or business bank statements, without full tax returns. The length of time the ABN has been active matters, and each lender sets its own ceiling for low-doc lending. Above that ceiling, full financials are usually needed, and they tend to bring a lower rate. Some lenders offer no-doc lending in narrower scenarios. Joseph Farhat and his team will check what you have and match it to a lender whose policy accepts it.
What if the car is partly for personal use?
It depends on which use is the main one. If the vehicle is mainly for the business, it can be financed as a business loan, and lenders will ask you to confirm the business purpose in writing. If it will mostly be used privately, the loan is consumer credit and is assessed under different rules, which our [car and vehicle loan](/personal-finance-broker/car-vehicle-loan) page explains. Be accurate about the split when you apply. Private use also affects what can be claimed for tax and GST, which your accountant will work out.
Can on-road costs be included in the loan?
Often, yes. Many lenders will include registration, CTP insurance and stamp duty in the amount financed, and some will also include dealer delivery and accessories fitted at purchase. Including them raises the amount borrowed and the interest paid over the term. The lender also looks at how the total compares with the value of the vehicle, so a large add-on on an older car can need a deposit.
Can I finance a new or used vehicle?
Both. New and near-new vehicles from a dealer usually get the widest lender choice and the longest terms. Used vehicles are widely financed too, though the age the vehicle will reach by the end of the term, its kilometres and whether it is a private sale all narrow the field. For a private or auction purchase, the lender confirms that no finance is owing on the vehicle and pays the seller directly.
How does a balloon change the repayments?
A balloon is an amount left owing at the end of the term. Because less of the price is repaid over the term, each regular repayment is lower, and the total interest is higher. The balloon is then paid in one sum, refinanced, or covered from the sale or trade-in of the vehicle. We show you the figures with and without a balloon so the trade-off is clear before you sign.
Can the business claim the GST on the vehicle?
That is a question for your accountant. GST credits on a car depend on whether the business is registered for GST, how the vehicle is financed and how much of its use is private, and limits can apply to passenger cars. We are a finance broker, not a tax adviser. We can give your accountant the loan structure and figures so they can confirm the position before you settle.
Do you work with borrowers with bad credit?
Yes, we do. A default, a late payment listing or a past judgment does not rule your business out of vehicle finance, and there is no awkwardness in talking about it with us. A listing often says little about how the business trades today. Because the lender holds security over a vehicle it can resell, several lenders on our panel will price for the risk instead of declining, particularly where there is a deposit or a trade-in. Tell us early, so the first lender approached is one likely to say yes. Joseph Farhat and his team will tell you honestly what is achievable before any application goes in.
Why work with Settled With Joe to arrange your business car loan?
Because one conversation replaces a string of applications. Most of the people we help with business vehicles are tradespeople, sole traders, company directors and owners of service businesses, often working to a short deadline: a ute that has failed, a dealer holding a vehicle until Friday, or a new contract that needs a second van. None of that is unusual to us, and there is no judgement in the conversation. What lenders care about is the business purpose, the vehicle and the strength of the trading record. Our panel covers 90+ bank, non-bank, and specialist lenders, so a complete file can go to a bank at a sharper rate, and lighter paperwork still has somewhere to go. We are based in Sydney and work with businesses Australia-wide. Joseph Farhat and his team will tell you early and honestly whether we can help and how quickly.
Do you give financial advice?
No. We do not guide you on your finances, nor give financial advice. We focus on outcomes and solutions of presenting your unique scenario to the right lender so you can access funding in a timely and compliant manner.
Do you help with business car loans outside Sydney?
Yes. Settled With Joe is based in Sydney and arranges business car loans Australia-wide, covering both metro and regional areas. We work with clients in Sydney, Melbourne, Brisbane, Perth, Adelaide, and Canberra, as well as regional areas including Newcastle, Wollongong, Geelong, Gold Coast, Sunshine Coast, and Toowoomba. Vehicle finance depends more on the vehicle and the business than on the postcode, and private sales can be settled interstate. Joseph Farhat and his team will match your file to lenders on the panel that suit the vehicle and your timeframe.
