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Business vehicle finance

Utes, vans, cars and trucks for people who run a business or work for themselves. Talk to us about the vehicle your work depends on.

Apply now Estimate repayments

The short answer

What is the best way to finance a vehicle for a business?

There is no single best way. It depends on how the vehicle earns its keep, how your business is set up and what it can comfortably repay. Business vehicle finance spreads the cost into regular repayments, so cash stays in the business. With Finance Made Easy you apply online and we aim to give you an initial decision quickly, often within an hour during business hours.

Last updated

Why talk to us

Finance that fits how your business runs.

Apply online

Apply from the yard, the site or the office, anywhere in New Zealand. Prefer to talk? Call 0800 995 014.

A quick initial decision

We aim to come back within the hour during business hours, so you can plan the purchase.

Funding in 24 to 48 hours

Once the loan is approved and signed, funding usually follows within 24 to 48 hours.

How it works

How does business vehicle finance work?

Business vehicle finance is a loan to buy a vehicle your business uses, repaid in regular instalments over an agreed term. The vehicle itself is usually the security for the loan.

The vehicle is yours to use for work from day one. The interest, any fees, the term and the total cost are set out in the loan agreement before you sign.

We start with what the vehicle needs to do and what the business can afford, then help you apply. For other vehicles, see our wider vehicle finance options.

Utes and vans

The workhorses of New Zealand trades. Read about ute finance, or talk to us about van finance.

Business cars

For client visits, sales rounds or getting between jobs. Talk to us about business car finance.

Trucks

For deliveries, landscaping or contracting. Talk to us about truck finance and what a lender will want to see.

Buying through a business

What is the best way to buy a car through a business?

A landscaper on her phone, leaning on the open tailgate of a dark ute loaded with plants and tools, green hills behind

Start by deciding whose name the vehicle and the loan will be in. A sole trader usually borrows in their own name, while a company can borrow in the company name, and a lender may ask a director to guarantee the loan.

That choice changes which documents a lender asks for. How GST and depreciation apply is a question for your accountant: we do not give tax advice.

Before you shop, settle three things:

  • What the vehicle needs to do: payload, towing, seats, and how many kilometres it will cover.
  • What repayment fits your cash flow in a slow month, not only a busy one.
  • Whether you want the added protection of a mechanical warranty, arranged through a range of warranty providers, with or without a loan.

What lenders look at

What do lenders ask for on a business vehicle loan?

Lenders want to see that the repayments are affordable and that you are who you say you are. Every lender sets its own criteria, and all lending is subject to them.

Expect to provide:

  • Your driver licence and proof of address.
  • Proof of income: for a business, this is usually recent financial statements, GST returns or bank statements, depending on the lender.
  • Details of the vehicle, if you have found it, or the kind of vehicle and budget you have in mind.
  • How long you have been trading, and any existing loans or finance on the business.

Truck finance

Is truck finance worth it?

Truck finance is worth it when the work the truck brings in comfortably covers the repayments and its running costs. If it does not, the loan becomes a cost the business carries on quiet weeks.

Before committing, weigh up:

  1. 01The work lined up for the truck, and how steady it is across the year.
  2. 02The running costs: road user charges on diesel vehicles, insurance, tyres, servicing and registration.
  3. 03The repayment over the whole term. You can estimate business vehicle repayments with our calculator (results are estimates only).
  4. 04What happens if the truck is off the road, and whether a warranty or cover would help.

How to apply

How business vehicle finance comes together.

One application to start, and nothing is locked in until you sign.

  1. 01

    Apply online

    Tell us about the business and the vehicle when you apply for business vehicle finance online. Prefer to talk? Call 0800 995 014 instead.

  2. 02

    A quick initial decision

    We aim to come back with an initial decision quickly, often within the hour during business hours. An application is not an offer of finance.

  3. 03

    Verification

    You provide your licence, proof of address and proof of income, plus any business documents the lender asks for.

  4. 04

    Choose the vehicle

    Found it already? Great. If not, approvals typically remain valid for 30 days while you look. Dealer or private sales are both fine, subject to lender criteria.

  5. 05

    Sign and drive

    Once the loan is approved and signed, funding usually follows within 24 to 48 hours.

Side by side

Paying cash or financing a work vehicle?

Both are common. The difference is mostly about cash flow and total cost.

Paying cashBusiness vehicle finance
Upfront outlayThe full purchase price on the day.Any deposit you choose to put in, then regular repayments.
Cash in the businessReduced by the purchase price.Kept for wages, stock and the unexpected.
OwnershipYours outright from day one.Yours to use from day one, with the lender holding security until the loan is repaid.
Total costThe purchase price only.The purchase price plus interest and any fees, all set out in the loan agreement.

General information only, not financial advice. Your loan agreement sets out the actual interest, fees and total cost. For tax treatment, talk to your accountant.

Related

More vehicle finance.

Financing something else as well? See every vehicle type on our vehicle loans page.

Questions

Business vehicle finance, answered.

Quick answers. Longer chats are welcome on the phone.

Start with the numbers: the work the truck will bring in, its running costs and a repayment the business can carry in a quiet month. A loan secured against the truck is a common way to spread the cost. All lending is subject to lender criteria.

Talk to us about it. Sole traders usually borrow in their own name, so the lender looks at your income as a whole. Recent financial statements, GST returns or bank statements usually help, depending on the lender.

We aim to give you an initial decision quickly, often within an hour of applying during business hours. Once the loan is approved and signed, funding usually follows within 24 to 48 hours. You can start your application online or call 0800 995 014.

Yes, we arrange business vehicle finance. Talk to us about the van, truck or car your business needs. Whether a vehicle can be financed depends on the vehicle, your business and the lender.

We do not give tax advice. How interest, GST and depreciation apply depends on how your business is set up and how the vehicle is used, so check with your accountant before you buy.

No. Finance through us is for people in work or running a business. If your main income is a benefit, or you are not working, we are not able to help.

Applications are not an offer of finance. All lending is subject to lender criteria, affordability, verification and responsible lending checks. Calculator results are estimates only. This page is general information, not financial advice.

Finance Made Easy is a trading name of TrueNorth Financial Services Limited, FSP1011270, and a member of Financial Services Complaints Ltd (FSCL), membership 9517.

Request a call back

Rather we call you?

Answer a few quick questions and we aim to call you within 15 minutes during business hours. It is an enquiry with no obligation, and it is not an offer of finance. Ready to go? Apply online now.

  • Vehicle loans, personal loans and mechanical warranties
  • Plain English, no jargon
  • We aim to call you within 15 minutes during business hours
Prefer to talk? 0800 995 014 info@fmefinance.co.nz

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