--
--
Loan Amount: $30,000
Establishment Fee: --
Total Interest Paid: --
Ready for the next step?
Get free loan offers. Using technology Money Matchmaker® matches you to the lowest rates you qualify for from a pool of top lenders. So you can find the one.
Get matched
Our truck finance calculator provides a quick estimate of how much the regular repayments and total costs for your truck loan will be.
To use the truck loan calculator, you’ll need to enter some details about your loan:
Once you have filled in your truck loan details, simply click ‘See My Repayments’ to view an estimated repayment amount. You can then select Monthly, Fortnightly, or Weekly repayments to see what your repayment amount will be at various frequencies.
The truck loan calculator estimates your regular repayments using the same formula lenders use to calculate loans. This means you get an accurate estimate of what your regular repayments will be.
Here’s how it works:
Truck loan amount | 5% interest | 7.5% interest | 10% interest |
---|---|---|---|
$10,000 | $188.71 | $200.38 | $212.47 |
$20,000 | $377.42 | $400.76 | $424.94 |
$30,000 | $566.14 | $601.14 | $637.41 |
$40,000 | $754.85 | $801.52 | $849.88 |
$50,000 | $943.56 | $1,001.90 | $1,062.35 |
$60,000 | $1,132.27 | $1,202.28 | $1,274.82 |
$70,000 | $1,320.99 | $1,402.66 | $1,487.29 |
$80,000 | $1,509.70 | $1,603.04 | $1,699.76 |
$90,000 | $1,698.41 | $1,803.42 | $1,912.23 |
The interest charged to your truck loan is calculated taking these factors into account:
The interest rate on a truck loan will be calculated based on information you provide when you apply for the loan.
There are several factors involved, but it all boils down to how risky the loan is for the lender.
More risk equals a higher interest rate. Here are the main factors that determine the interest rate on a truck loan:
Ready to compare truck loans?
Get your best offers from multiple lenders. There's no obligation and checking your rates won't impact your credit score.
GET STARTEDGET STARTEDMost lenders will lend 100% of the value of heavy vehicles and do not require a deposit. However, if you’re deemed to be a high-risk borrower or your business has been in operation for less than two years you may need to pay a deposit of 30% of the truck’s value.
Buying a heavy vehicle with truck finance may have a number of tax benefits for your business. For example, you may be able to claim interest payments, depreciation and loan fees to reduce your business’s taxable income. It’s a good idea to speak to your accountant before applying for truck finance to make sure you’re maximising tax efficiencies.
Yes, you can with certain lenders. However, you may be charged higher interest rates and you may need to provide contracts showing what work you have lined up. Other lenders only offer truck loans to more established businesses.
Some lenders offer approval for truck finance as little as 24 hours after you apply. But in most cases, it’ll take three to five business days.
Business Loan guides and resources
Learn more about your business finance options and how to get the funding you need to grow your business.