What We Finance
Buying second-hand changes what lenders look at. We match the specific truck you have found to the lenders whose age, kilometre and condition policy accommodates it.
Second-hand prime movers, rigids and tippers make up a large share of the trucks we finance. A well-maintained used truck is often the sensible buy: the heavy depreciation has been absorbed by someone else, and a proven unit with service history can work just as hard as a new one. Lenders see it differently to a new-vehicle purchase, though. Age at the end of the loan term, kilometres, build type and where you're buying from all shape which lenders will consider the deal and how they price it. We compare 50+ bank and non-bank lenders so the truck you've found is matched to the lenders whose policy actually accommodates it.
Dealer purchases are the most straightforward, since lenders receive a tax invoice from a registered dealer and the paperwork follows a familiar path. Auction and private-sale purchases are absolutely financeable, but they involve extra steps: a third-party inspection or valuation on some deals, a PPSR check to confirm the truck is clear of existing finance, and payout coordination if the seller still owes money on it. We manage those steps as part of the process, so a private-sale truck doesn't have to mean private-sale complexity.
Most lenders set a maximum vehicle age at the end of the loan term, commonly somewhere between 15 and 30 years depending on the lender and asset class, which means the age limit and the loan term interact: an older truck may still be financeable on a shorter term. Kilometres and condition matter too, particularly on highway prime movers. The practical effect is that a decline from one lender says very little about the deal, because the next lender's policy may fit it comfortably. This is exactly where comparing a panel earns its keep.
Low doc lending applies to used trucks the same way it does to new ones. Several lenders on our panel will assess an application on ABN and GST history, repayment conduct or a deposit rather than full financial statements. You can read more on our low doc asset finance page, and see the broader picture on our main truck finance page.
Balloon amounts on used trucks are typically more conservative than on new ones, because the lender is projecting the truck's value further into its life. Term length is often the more useful lever: matching the term to your realistic ownership window keeps repayments sensible without stretching the loan past the asset's working value. And if you're carrying existing truck finance that no longer fits, refinancing a used vehicle follows the same assessment logic, which we cover on our main truck finance page. We model the options side by side, and our repayment calculator is a reasonable place to start before we talk.
Written by Stefan Popovic, Director & Lending Specialist, Lend Logic Solutions.
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Common Questions
Most lenders apply a maximum age at the end of the loan term rather than at purchase, and the limits differ significantly between lenders. Older trucks can often be financed on shorter terms. We check eligibility across the panel before anything is lodged.
Yes. Private-sale truck finance usually involves a PPSR check, sometimes an inspection or valuation, and payout coordination if the seller has existing finance. We manage those steps as part of the process.
Pricing reflects the lender's assessment of the asset and your profile, and some lenders price older assets differently. Comparing the panel matters more on used trucks than almost anywhere else, because policy and pricing vary so widely.
Yes, several lenders on our panel offer low doc options on used trucks, assessed on ABN and GST history, repayment conduct or a deposit rather than full financials. Criteria and pricing vary by lender.
Often, though balloon amounts on used trucks are typically more conservative than on new vehicles. We model repayments with and without a balloon so you can compare before deciding.