Commercial / Business finance
Business car loans
Get the right business vehicle finance for your needs
Need a company car, ute, van, or truck? At Attain Loans, we can help you secure the right business car loan without paying the full upfront cost. Our expert team will find you competitive rates and flexible terms suited to your business needs.
Book a consultationHow business car loan applications work
At Attain Loans, we can find the right vehicle finance solution for your business. Our service typically comes at no charge as we're paid by the lender, and these payments don't influence our recommendations.
1
Getting to know you
We're flexible to fit in with you. We can do face to face, phone, or video call meetings. We're flexible on times and can do after hours and weekend meetings by request.
2
Understanding your needs
We'll review your business requirements, vehicle preferences, and financial position to determine the best loan structure for you.
3
Financial assessment
We'll evaluate your business income, expenses, and financial commitments to ensure any new loan arrangement is sustainable.
4
Loan comparison
We compare options from our panel of lenders, looking at interest rates, fees, loan terms, and flexibility to find the best fit for your business.
5
Application and settlement
Once you've chosen a suitable option, we handle all the paperwork and coordinate with lenders to ensure a smooth transition to your new loan.
Business car loans
A business car loan, also known as a commercial vehicle loan or chattel mortgage, is a financing option that allows businesses to purchase vehicles without paying the full cost upfront. Business car loans are more complex than personal car loans, with different assessment criteria and lending requirements. This type of loan is specifically designed for business owners, self-employed individuals, or those who require a vehicle primarily for business purposes, at least 50% of the time.
How Business Car Loans Work
- You borrow a lump sum to purchase a business vehicle, which can include cars, utes, vans, or trucks.
- The loan is repaid in instalments with interest over a fixed term, typically ranging from 1 to 7 years.
- The vehicle itself serves as security for the loan, allowing for lower interest rates compared to unsecured loans.
- Unlike some leasing options, with a chattel mortgage, your business owns the vehicle from the outset.
Types of Business Car Loans
- Chattel mortgage
The most common type, where the business owns the vehicle but the lender holds security over it. - Hire purchase
The business hires the vehicle with the option to purchase at the end of the term. - Finance lease
The lender owns the vehicle and leases it to the business, with the option to transfer ownership at the end of the lease.
Questions about Business car loans
Get in touch and we will help you with any questions you have about business car loans and advise on the best approach for your business.
Let us help with your questionsHow much can I borrow for a business car loan?
The amount you can borrow depends on factors such as your business's financial position, credit history, and the vehicle's value. Typically, loans range from $10,000 to $1,000,000+. We'll assess your situation and help you determine a suitable borrowing amount that aligns with your business needs and repayment capacity.
What interest rates are available for business car loans?
Interest rates for business car loans typically start from around 7.50% p.a. for prime business borrowers. However, rates can vary based on factors such as your business's credit history, the loan term, and the type of vehicle. We'll compare rates across our lender panel to find the most competitive option for your situation.
Do I need a deposit for a business car loan?
While some lenders offer no-deposit options, having a deposit (typically 20% of the vehicle's value) can improve your chances of approval and potentially secure better interest rates. We can discuss deposit options and help you find a loan structure that suits your cash flow situation.
What types of business car loans are available?
The main types of business car loans are chattel mortgages, hire purchase agreements, and finance leases. Each has different ownership structures and potential tax implications. We'll explain the differences and help you choose the option that best suits your business needs and financial strategy.
How long does it take to get approved for a business car loan?
The approval process typically takes 3-5 business days, depending on the complexity of your application and the lender's requirements. We'll provide a clear timeline based on your specific situation and manage the process to avoid delays.
Can I get a business car loan if I'm a sole trader?
Sole traders can apply for business car loans. You'll typically need to provide additional documentation, such as tax returns and financial statements. We have experience working with sole traders and can guide you through the application process.
What documentation do I need for a business car loan application?
Required documentation typically includes:
- Business financial statements (last 2 years)
- Tax returns (business and personal)
- Bank statements
- ABN/ACN details
- Proof of identity
- Vehicle details and quotes
Can I claim tax deductions on my business car loan?
Business car loans often offer tax advantages. You may be able to claim deductions on interest payments, depreciation, and GST on the purchase. However, tax situations can be complex, so we recommend consulting with your accountant or tax professional for specific advice.
What happens if I want to pay off my business car loan early?
Many business car loans allow for early repayment, which can save you interest over the life of the loan. However, some loans may have early repayment fees. We'll help you understand any potential exit costs and structure your loan to maintain flexibility for your future plans.
Can I refinance my existing business car loan?
Refinancing can help you secure better rates, access equity, or restructure your loan. We'll help you compare your current loan with other options and calculate whether refinancing would be beneficial, considering any break costs or new loan fees.
Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product. The information contained in this website is of a general nature and does not take in to account your personal needs and requirements.
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Why choose Attain Loans for your business car loan?
Our expertise in business vehicle finance means we can evaluate loan types and lender requirements on your behalf. We will get you not just a great rate, but the right loan structure to match your business goals and cash flow needs.
We're family
We are a small family owned, Altona based business that understands your needs at different stages of your life.
We listen
Identifying your goals and finding services and products that meet your needs is our number one job, and we love it!
22 years industry experience
We know the intricacies of the mortgage market and can tailor mortgage solutions for your individual needs.
We have access to the very best lenders
Over 70 of them, including the majors. We're accredited, which means we are fully trained and know all the best options available for you.
Ongoing support
Even when we've found you a great deal we undertake regular reviews to see if we can find you something even better.
We're awesome!
We have an honest, client focused business model and we aim to create long lasting relationships built on trust and respect.
Our happy customers
Financial security gives you choices. It lets you move home, learn new things, travel, or start and grow a business. When you're financially secure, you can focus on what's important. Your family, health, and personal growth.
Ian Martin
We were introduced to Chrystal and Attain Loans by a mutual colleague and we are very pleased that we were. Chrystal is an absolute finance whizz and a diamond of a lady. She is thorough, professional, patient, 'on your side', and will work her hardest to get the job done for you.We are pleased to have met Chrystal and have her setup our home loan and finances for us, and we will continue to work with Chrystal for any of our finance needs in the future.
Nichie S
Chrystal Evans, Director & Mortgage Broker at Attain was truly a lifesaver. In a stressful time where I needed assistance and some advice, Chrystal was this and more for me. Her knowledge of the banks, packages, fees etc. and advice was excellent, giving me confidence while also making everything really easy. Lastly her follow-up and communications were solid, I would highly recommend Chrystal. Also, after trying to negotiate an interest rate after coming off a fixed rate with my bank, where I was told they couldn't help me and spoke with 3 different people with wait times on the phone, I will not deal with a big bank again and only with Chrystal/Attain.
Cindy Kelly
Chrystal and Attain Loans were instrumental in assisting us to secure our dream home. Chrystal’s professionalism, knowledge and high level skills secured us the best loan for our needs. Chrystal is very thorough and assisted us through the whole process, from finding the best loan to ensuring everything was in line and ready for settlement day. We will definitely utilise Chrystal’s expertise for our next property purchase and highly recommend Chrystal and Attain Loans.
Nikola M.
Chrystal is by far the best broker I’ve met. Not only she found a great rate and conditions, she advised me on how to restructure the loans to get a better return down the road.Definitely recommend her, won’t even think of going elsewhere.
Callan Applebee
The best! Highly recommend for those lookong for people that care and honesty in financial requests for mortgae and loan services.From someone who has just begun owning land and building a home, all I can say is that Chrystal and her amazing team have held customers like myself and my wife at the forefront. We are still in the process and this company and its ideals and staff are and continue to be amazing. The trust, confidence and support model they uphold is something that all other institutions should refer to. Thank you Chrystal and your team members for everything thus far. I look forward to our continued relationship and your growth. Thank you.
will miller
Chrystal and her team are amazing to deal with extremely helpful and couldn't ask for better service. Chrystal and her team have helped us secure our first home and we have now settled. Chrystal is still working with us through every stage of the project. It's great to know that I had Chrystal on hand anytime I needed direction and advice. Thanks heaps guys from will and Zoe miller
Renee Blake
Chrystal and her team @ Attain Loans are amazing.Chrystal makes the whole process so easy and understandable.She always has her clients needs at the forefront of her mind and does everything possible to help.Not only is she an AMAZING broker with integrity, she is reliable with a client first focus.If I could score her 100 I would. The only broker for me.
Suzanne McHugh
Chrystal was fantastic, she took the time to help us urgently obtain finance after not getting any help directly from the banks. She was very informative, was able to explain all the details. We would not have been able to have a successful bid without her help.
Luke Applebee
Thanks to the incredibly hard-working team at Attain (Chrystal and Pam) we were able to settle literally days before Christmas last year in our first home.At every step of the home buying journey we were well informed and felt like our interests were always the top priority. It was a stressful time for us to keep up with the paperwork and everything however Attain did a superb job at keeping us on track (and sane). If you have no idea where to begin if you're looking at purchasing a home, I highly recommend giving Attain a call.Excellent customer service and ongoing support. We have recommended Attain to family and friends, too. Absolutely impressive team. Can't thank them enough.
Jessica Winter
Chrystal, Pam and the team at Attain loan & morgage services are the best brokers in business. They literally held our hands throughout the whole process of our home loan. And we were not easy customers! They went above and beyond to help us get the best outcome in the process of attaining our first family home. Their attitude, customer service and professionalism was second to none. Couldn't recommend this company more!They literally did all the HARD work for us and made the process stress free :) Thanks Team!!Jessica Winter
Vanessa Terekia
I have had the pleasure of working with Chrystal who helped to get my home loan approval. This women went out of her way to help me above and beyond my expectations, I was so ready to give up on a few occasions but she wasn't going to let me and I could not thank her enough for all of her efforts. I am now in my own home thanks to Chrystal and her team, I would always recommend her service, its like no other :).
Americar Auto
I've been using Attain Loans for years. Each time Chrystal has helped us get the loan through, being a small business can be tricky sometimes but Chrystal never gives up and always gets a result. I would give her a higher score if I could :)
Rebecca Smith
Excellent communication throughout entire process. Second time we have obtained finance through Chrystal and would use her again.
Jessica Joy
I cannot recommend Attain Loan & Mortgage Services enough. As a first home buyer I was nervous with very limited knowledge of how the entire loan process worked. Chrystal made it absolutely seamless and took all of the stress out for me.12 months on, they assisted me with my first re-finance and again were there for me every step of the way.I couldn't be happier and wouldn't trust anyone else!Thankyou so much!
Gary Capeling
My wife and I were in a vendor finance agreement and due to some financial hardship issues brought about by the Covid pandemic not looking like we would ever be able to get ahead. The team at Attain Loans helped steer us in the right direction to be able to finally have a mortgage of our own and also clear up our debts and hopefully repair our credit issues. I would definitely recommend them to anyone looking to just refinance or that is in a similar boat to us!10 out of 10 for these guys!
Lisa L
I recently bought a new house and usually the process can be quite stressful. Luke made everything run smooth from start to finish and got me a good rate! Highly recommend
Peter Sz
Chrystal and the team from Attain Loan & Mortgage Services, 14 Harrington Square, Altona, VIC, 3018, Were a pleasure to deal with, they provided us with great service and prompt settlement, our circumstances were delicate and they worked though the steps to help us achieve the results desired, We would highly recommend Attain Loan & Mortgage Services for all your home loan needs, Thanks for all your help Peter
Skruffy Inc
If it's a no fuss, simple process you're after - then Chrystal is your go to! As a first home buyer I was totally out of my league, everything was foreign. Chrystal quickly established a rapport and from the beginning I felt secure in her expertise and genuine interest to help me realise my goals. Whenever there were things that I wasn't quite sure about, Chrystal jumped in and took the reins without hesitation. When investing in one of the biggest purchases in your lifetime, having someone you trust at the helm is everything! Chrystal is that someone. Her easy going nature coupled with the depth of knowledge, experience and professionalism is second to none! I can't recommend her highly enough. Appreciate your support solution oriented outlook Chrystal. Thank you so much!Whakamānawatia koe, ka tika!Nāku noaTrishBrisbane, QLD
Ray Jensen
Got the job done that no one else could!!!!! Very happy customer, thanks for all your all help……