
04/09/2025
Need to buy a new ute but haven't got the cash sitting there to buy it outright?
If you've been running your business for over two years, are ABN and GST registered, have clear credit, and own property, getting finance for a new ute can be surprisingly simple. In many cases, lenders only need basic information: driver's licence, ABN details, and a few quick questions. That's it. No tax returns, no hassle. The process can often be wrapped up within 48 hours.
Utes are generally financed under an equipment loan, which means a fixed term, a fixed rate, and the option of a balloon payment. A balloon is a lump sum due at the end of the loan which you can pay off, refinance for another term or cover by trading in your vehicle.
Even if you don't own property, there are still flexible options. You might just need a deposit of 10–20%, which can sometimes be covered by another unencumbered asset. The good news? There are plenty of lenders who understand the real world of trades and can tailor solutions to fit your situation.