Quick answer
Commercial vehicle finance covers trucks, utes, vans, light commercials, prime movers, trailers and commercial fleets. It is the highest-volume category of NZ asset finance. Most businesses use hire purchase or chattel mortgage to own the vehicle at the end of the term and claim depreciation; fleet operators often use operating lease (FMOL) to bundle running costs into a predictable monthly payment. Indicative rates from ~7.6% p.a. on new vehicles from a recognised dealer, with up to 100% finance and 1–2 business day conditional approval common.
Who it suits
- Buying a single commercial vehicle (truck, ute, van) for your business
- Replacing or expanding a fleet
- Need predictable running costs (consider operating lease / FMOL)
- Want to own the vehicle at the end (consider HP or chattel mortgage)
Pros
- · Highest-volume NZ asset finance category — competitive pricing across many lenders
- · Up to 100% finance on new vehicles from a recognised dealer
- · Approvals often same-day to 1–2 business days
- · Multiple structures available — pick what fits your business
- · Vehicle is the security — no need for additional property collateral
Cons
- · Used vehicles, especially older or higher mileage, attract higher rates
- · Specialised vehicles (concrete trucks, transporters) may need bespoke structuring
- · Operating lease excess-kilometre charges if you go over allowance
At a glance
| Vehicles funded | Trucks, utes, vans, prime movers, trailers, fleets |
| New vehicles | Up to 100% finance from a recognised dealer |
| Used vehicles | Funded — typically up to 8–10 yrs at end of term |
| Typical term | 24–60 months (longer for prime movers) |
| Indicative rates | From ~7.6% p.a. (new, prime borrower) |
| Approval speed | Often 1–2 business days for straightforward applications |
| Structures | HP / Chattel mortgage / Finance lease / Operating lease |
Commercial vehicle finance is competitive — pricing depends on the vehicle, age, deposit, your business profile, and the dealer. Subject to lender credit approval.
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