Understanding prime mover finance
Prime movers are high-value commercial assets commonly used across freight, logistics, construction, and interstate transport industries. Commercial truck lenders may assess factors including vehicle make, model, age, kilometres, intended commercial use, transport industry experience, projected operating income, and the overall strength of the business purchasing the vehicle.
Common commercial lending considerations
- Prime mover age, kilometres, and resale value
- Deposit amount, trade-in equity, or available business capital
- ABN history and GST registration
- Transport industry experience and freight contracts
- Business bank statements and commercial cash flow
- Insurance, registration, and maintenance planning
Planning commercial operating costs
Prime mover finance repayments are only one part of operating a transport business. Businesses commonly assess fuel costs, tyres, servicing, maintenance, insurance, registration, tolls, downtime, subcontractor arrangements, and freight income stability before selecting a loan structure or balloon payment arrangement.
New and used prime mover finance
Commercial prime mover finance may be available for both new and used heavy vehicles depending on lender policy, vehicle condition, kilometres, resale demand, and intended transport use. Older prime movers may involve different lending criteria, shorter terms, or larger deposit requirements.
Is prime mover finance available for owner-drivers?
Some lenders may consider owner-drivers depending on experience, deposit, business history, vehicle details, and affordability.
Can used prime movers be financed?
In some cases, yes. Commercial finance may be available for used prime movers depending on vehicle age, kilometres, operating condition, resale value, and lender requirements.
Can older prime movers be financed?
Some lenders may still consider older prime movers, although lending criteria, deposit requirements, repayment terms, and vehicle suitability assessments may differ.