Mark Donovan
a month ago on Google
Rohan provided exceptional service, was communicative and transparent through the entire process. I ended up with a far better deal than I would have got on my own.
Truck finance, RyRo Asset Finance
Truck Finance in Sydney for Owner Drivers, Tradies and Fleets
Rigid trucks, prime movers and trailers, new or used. Rohan Joshi at RyRo Asset Finance compares truck loans across a panel of lenders and sets up the structure that suits your business.
- Light, medium and heavy rigid trucks, prime movers and trailers
- Chattel mortgage, finance lease or hire purchase, explained plainly
- Owner drivers, new ABNs and growing fleets
- 5.0 from 13 Google reviews for RyRo Asset Finance
- Authorised Credit Rep 565295
RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.
Updated November 2026
Truck and heavy vehicle finance
What is truck finance and how does it work?
Truck finance is a loan or lease that lets your business buy a truck now and pay for it out of the work it does. The truck is the security, which is why truck loans are usually simpler than an unsecured business loan. You choose the term, whether to put money in up front and whether to leave a balloon at the end.
It covers far more than one kind of vehicle. Heavy vehicle finance runs from a light rigid tipper to a prime mover and trailers, and the same commercial vehicle finance lenders often fund the body, fit-out and trailer too. For anything else your business needs, such as machinery or equipment, see our asset and equipment finance service.
Quick answer
Who is truck finance for?
Owner drivers, tradies stepping up from a ute, transport and logistics businesses, and fleet owners. Most lenders want the truck used mainly for business, held in your name, a company or a trust.
- The truck or prime moverNew or used, from a dealer, auction or private seller.
- The body and fit-outTray, tipper, pantech, fridge unit or crane fitted at purchase.
- TrailersWith the truck or on their own.
What we finance
Rigid trucks, prime movers and trailers
Lenders look at what the truck is, what it will carry and how easy it would be to resell. Here is how they usually group them.
Photo: Charles G / Unsplash Light, medium and heavy rigid trucks
Tippers, tray tops, pantechs, refrigerated and tautliner bodies on one chassis. The usual step up from a ute for tradies, couriers and local delivery work.
Photo: snap wander / Unsplash Prime movers
Prime mover finance for owner drivers and linehaul operators, new or used, financed on its own or together with the trailer it will pull.
Photo: Rhys Moult / Unsplash Trailers and combinations
Truck and trailer finance for semi trailers, side tippers, flat tops, dog trailers and low loaders, bought with a truck or added to the fleet later.
Which licence class goes with which truck?
Lenders often ask which licence class you hold, because it shows the trucks you can legally drive. In NSW the heavy vehicle classes are:
| Class | What it covers | Typical trucks |
|---|---|---|
| LR, light rigid | Rigid vehicles over 4.5 tonnes and up to 8 tonnes GVM | Small tippers, tray tops, small pantechs |
| MR, medium rigid | Rigid vehicles with 2 axles over 8 tonnes GVM | Two axle tippers and delivery trucks |
| HR, heavy rigid | Rigid vehicles with 3 or more axles over 8 tonnes GVM | Six wheeler tippers, agitators, larger rigids |
| HC, heavy combination | Articulated vehicles such as a prime mover and semi trailer | Prime mover with one trailer |
| MC, multi combination | Road trains, B-doubles and low loader combinations | Linehaul and heavy haulage |
Source: NSW Government, licence classes, checked November 2026. A class C car licence covers vehicles up to 4.5 tonnes GVM.
Sound familiar?
Truck finance situations we solve
Most people come to Rohan with one of these. Here is what usually gets in the way, and what we do about it.
- 5.0 from 13 Google reviews for RyRo Asset Finance
- Authorised Credit Rep 565295
Going out on your own as an owner driver
The challenge: You have years behind the wheel, but your ABN is new and there is little trading history for a lender to read.
How we handle it
We go to lenders that weigh your driving experience, licence and work lined up, and show them the contract or subcontract you have.
A tradie outgrowing the ute
The challenge: The jobs now need a tipper or a bigger tray, and you are not sure how a truck loan differs from your ute loan.
How we handle it
We compare the structures side by side, check the body and fit-out can go in the loan, and line up the documents lenders ask for.
Adding trucks to a fleet
The challenge: You have finance on several trucks already, with different lenders and balloons falling due at different times.
How we handle it
We look at the whole fleet before the next truck, so the new loan suits your cash flow and the end dates do not bunch up.
A contract that starts soon
The challenge: You have won work that needs another truck, and the start date will not wait for a slow application.
How we handle it
We get your paperwork right before it goes in, so the lender has what it needs and you are not chased for missing documents.
A used truck from a private seller
The challenge: You have found the right truck at the right price, but it is a private sale and the seller wants paying quickly.
How we handle it
We check the truck against each lender’s age and condition rules, confirm nothing is owing on it, and manage payment to the seller.
A balloon falling due
The challenge: The balloon on your current truck is due soon and you have not decided whether to pay it, refinance it or upgrade.
How we handle it
We set out each option with the numbers, including trading the truck in, so you choose before the due date rather than after.
Rohan · 0:23
These are common situations, not client stories. Every loan depends on your circumstances and the lender's policy. Only need something lighter than a truck? See ute finance.
RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.
Finance types
Chattel mortgage, finance lease or hire purchase?
Most truck finance uses one of three structures. The difference is who owns the truck during the loan, and how GST and tax are handled.
| Chattel mortgage | Finance lease | Hire purchase | |
|---|---|---|---|
| Who owns the truck | Your business, from day one | The lender, during the lease | The lender, until the last payment |
| Security | Lender holds security over the truck | Lender owns the truck | Lender owns the truck |
| End of term | Pay any balloon and it is yours | Pay the residual, return or re-lease | Last payment and it is yours |
| Often chosen by | Owner drivers and most small businesses | Fleets that prefer a fixed cost | Businesses wanting ownership later |
New vs used
New or used truck finance
Both are financed every day. What changes is how closely the lender looks at the truck, and how long a term it will give you.
New trucks
- Dealer tax invoice makes approval simpler
- Longer terms are usually available
- Body and fit-out often built in
- Wait times on stock can matter
Used trucks
- Dealer, auction or private sale
- Age at the end of the term counts
- Condition and value checked closely
- May need a deposit or shorter term
Buying a used truck privately
Before the lender pays a private seller, it usually wants a bill of sale or tax invoice, proof the seller owns the truck, and a search showing nothing is owing on it. Some lenders also ask for photos, an inspection or a valuation on older or specialised trucks.
Many lenders set a maximum age for the truck at the end of the loan. If the truck is older, a shorter term or a deposit can bring it inside the rules. Rohan checks this before you commit to the purchase, so you do not pay a holding deposit on a truck the lender will not take.
Before you apply
What lenders look at for truck finance
Every lender sets its own policy, and the rules vary more than most people expect. These are the things they usually weigh up.
ABN age and GST
How long your ABN has been registered, and whether you are registered for GST. Some lenders accept newer ABNs.
Deposit or trade-in
Money in, or a trade-in, can open up more lenders and lowers your repayments.
Industry experience
Time driving or running trucks, and your licence class, show the lender you know the work.
Contracts and work
A contract, subcontract or regular customers show how the truck will earn its repayments.
Credit and existing debts
Your credit file and any loans you already have, including other truck finance.
The truck itself
Its age, condition, value and who is selling it, especially for older or specialised trucks.
“Thank you for your support to get my business car loan done in 1 day. Highly recommend”
RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.
Rohan · 0:22
Fleets and multiple vehicles
Finance for fleets and more than one truck
Once you run more than a couple of trucks, the question is less about one loan and more about how they all fit together. Lenders look at your whole business, including the finance you already carry, so it pays to plan the next truck around the ones you have.
- Several trucks or trailers financed together, or one after another
- Balloons and end dates spaced out so they do not fall due together
- A record of paying existing truck loans often helps the next approval
- Utes, vans and equipment for the same business handled by the same broker
RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.
Balloon payments
Balloon payments on truck finance
A balloon (or residual) is part of the price left owing at the end of the term. It lowers your regular repayments, which helps cash flow while the truck is earning. The trade-off is that you pay interest on the full balance for longer, so the total cost goes up.
At the end you pay the balloon out, refinance it, or sell or trade the truck to clear it. The safest balloon is one the truck should still be worth more than when it falls due.
Illustration only, before interest
- Price of the truck being financed
- $150,000
- A 30% balloon, left owing at the end
- $45,000
- Repaid through the regular repayments, plus interest
- $105,000
These figures show how a balloon splits the amount, not an offer. The balloon a lender allows depends on the truck, the term and your business. Try different amounts in the calculator below.
Try your own balloon
Set the truck price, deposit, term, rate and balloon. The example rate is an assumption, not a quote.
Estimated repayment per month
$2,498.39
60 monthly repayments paid in advance, then a balloon of $45,000
- Amount financed
- $150,000
- Total interest
- $44,903
- Total of repayments and balloon
- $194,903
Breakdown and GST
- Amount financed
- $150,000
- Balloon at the end
- $45,000
- Total interest
- $44,903
- Total of repayments and balloon
- $194,903
- Paid off around
- 5 years from now
GST in the price: $13,636
One eleventh of a GST-inclusive price. A GST-registered business may be able to claim GST on a business asset as a credit on its BAS. Whether you can, how much and when depends on your business use and how you account for GST. We recommend consulting your accountant.
Estimate only, not a quote or tax advice. It leaves out fees and charges, and the rate is the one you type in. Your real repayment depends on the lender, the asset and your business.
Figures last checked .
This is an estimate, not financial advice. Results are a guide only. Speak to a broker for accurate figures based on your situation.
Free, no obligation. Your numbers go with your enquiry.
5.013 RyRo Asset Finance reviews
RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.
How it works
How truck finance works with Rohan
One broker from the first question to the day the seller is paid.
Step 1
Tell us about the truck
The truck, the price, the seller and how it will be used, plus your ABN, experience and any work lined up.
Step 2
Rohan compares lenders
He matches your business to lenders whose policy fits, and sets out the structure, term and any balloon.
Step 3
Application and approval
He prepares the application, sends it to the chosen lender and deals with their questions.
Step 4
Settlement and pickup
Once the documents are signed, the lender pays the dealer or seller and the truck is yours to put to work.
Start with step 1
Step 1 takes about two minutes.
RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.
Rohan Joshi
Asset finance broker, RyRo Asset Finance, ACR 565295
Who you will deal with
Rohan handles your truck finance from start to finish
You deal with one person. Rohan reads your details, compares lenders, prepares the application and keeps you updated until the dealer or seller is paid. His clients mention the same things in their Google reviews: clear explanations, quick answers and a simple process.
He works from the RyRo office in Norwest, so if you are in the Hills District you can sit down with him in person. RyRo Asset Finance is a separate company from RyRo Loan Centre, working from the same office.
Ask Rohan about my truck
No obligation.
RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.
Rohan · 0:25
Google reviews
What Rohan's clients say
Real Google reviews of RyRo Asset Finance, word for word.
5.0
From 13 Google reviews for RyRo Asset Finance
Rohan · 0:31
Sumit Garg
a year ago on Google
Rohan been nothing short of excellent for us. Being proactive, professional and keeping things very simple and easy to deal with. Gave us an excellent deal and whole process was easy as. Thank you for being so helpful is getting us over the line in getting the new car
David John
8 months ago on Google
We had a great expreience dealing with Rohan for vehicle finance. I would highly recommend him. He was very professional and easy to deal with.
Jonathan Low
3 months ago on Google
I would definitely recommend RyRo Asset Finance as Rohan is amazing and I got a great rate. Fast and efficient service. Thank you.
FAQs
Truck finance FAQs
Have a question not covered here? Ask Rohan directly.
Rohan · 0:20
What is truck finance?
+
Truck finance is a business loan or lease used to buy a truck, prime mover or trailer, with the vehicle itself as security. You repay it over a set term, often three to seven years, and you can add a balloon at the end to lower the regular repayments. The common structures are a chattel mortgage, a finance lease and hire purchase. The right one depends on who should own the truck, how you account for GST and what your accountant recommends.
Can I get truck finance with a new ABN?
+
Often, yes, but you will have fewer lenders to choose from. Many lenders prefer an ABN that has been registered for a year or two, and some ask for GST registration. Others will look at a newer ABN if you have experience driving or running trucks, a deposit, a clean credit file or work already lined up. Rohan checks which lenders accept your ABN age before anything is submitted, so you are not knocked back for a policy reason.
How much deposit do I need for truck finance?
+
It depends on the lender, the truck and your business. Some lenders will finance the full price for an established business buying a newer truck. A newer ABN, an older truck or a private sale may need a deposit or a trade-in. Putting money in also lowers your repayments. Tell Rohan what you have available and he will show you which lenders suit that amount, rather than guessing at a number.
Can I finance a used truck or buy from a private seller?
+
Yes. Used trucks are financed every day, from dealers, auctions and private sellers. Lenders look more closely at the age of the truck, its condition and its value. Many set a maximum age at the end of the loan, so an older truck may mean a shorter term or a bigger deposit. For a private sale, the lender usually wants a tax invoice or bill of sale and checks the truck is free of money owing before paying the seller.
What is the difference between a chattel mortgage and a finance lease for a truck?
+
With a chattel mortgage your business owns the truck from the start and the lender holds security over it until the loan is paid. With a finance lease the lender owns the truck and you pay to use it, with the option to buy it at the end for the residual. The GST and tax treatment is different for each, so we recommend consulting your accountant for advice specific to your situation before you choose.
Can I include the trailer, body or fit-out in the loan?
+
Usually, yes. A tray, tipper body, pantech, refrigeration unit, crane or tailgate lifter fitted when you buy can normally be included in the price you finance. A trailer can be financed with the prime mover or on its own. Some lenders treat specialised fit-outs differently because they are harder to resell, so tell Rohan exactly what is being fitted and he will check it against each lender before you sign anything.
Do I need contracts or industry experience to get truck finance?
+
Not always, but both help. Lenders like to see that you know the work, for example years driving trucks, holding the right licence class or running a transport business. A contract, subcontract or regular work lined up shows how the truck will pay for itself. If you are new to the industry or going out on your own, Rohan looks for lenders that weigh experience and work in hand, not just trading history.
Can I finance more than one truck or add to a fleet?
+
Yes. Fleet owners can finance trucks one at a time or several together, and lenders look at your whole position, including the finance you already have. A good track record on existing truck loans often helps with the next one. Rohan keeps track of your current loans, balloons and end dates so each new truck fits around them and you are not caught with several large balloons falling due at once.
How does a balloon payment work on truck finance?
+
A balloon is a lump sum left owing at the end of the term. Leaving part of the price to the end lowers your regular repayments, but you still pay interest on the full balance, so the total cost is higher. When the balloon falls due you can pay it out, refinance it or sell or trade the truck. The safest balloon is one the truck should still be worth more than at the end of the term.
Do you arrange truck finance across Sydney?
+
Yes. Rohan works from the RyRo office in Norwest, in the Hills District, and arranges truck finance for owner drivers, tradies and transport businesses across Sydney and NSW. You can meet him at the office or do everything by phone and email. Start with the form on this page and tell him the truck, the price and how you will use it, and he will come back to you with your options.
Talk to Rohan
Ready to compare truck finance?
Rigid trucks, prime movers and trailers, new or used. Tell Rohan what you are buying and he will come back with your options.
We generally respond within an hour. Prefer to pick a time? Book your strategy call online or contact us.
Rohan Joshi
Asset finance broker, RyRo Asset Finance
- Rohan reads your details and calls you back
- No obligation to go ahead
- Structures explained before you sign
Rohan · 0:23
More videos from Rohan
- From 13 Google reviews for RyRo Asset Finance
- 5.0
- From 13 Google reviews of RyRo Asset Finance
- 5.0
“I have wonderful experience with them they are professional,quick and accurate in terms of loan requirements”
RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.