Fleet finance with one limit and one point of contact.

Fleet arrangements put several vehicles under one approved limit, so each new vehicle is drawn down against an existing facility rather than assessed from scratch. That saves time and gives consistent pricing across the fleet. Larger fleets can add maintenance, registration and fuel management into a single monthly cost. The trade-off is an annual review of the overall limit and, in some cases, tighter reporting requirements from the financier.

Fleet finance sets up a master facility with an approved limit, and each vehicle is then drawn down under it without a fresh application. The lender assesses the business once, agrees the limit and the terms for each drawdown, and you add vehicles as you need them, typically within 24 to 48 hours of sending the invoice. Each vehicle usually sits on its own chattel mortgage or lease under the umbrella, so terms and balloons can differ by vehicle while the paperwork and pricing stay consistent.

Once a business is running around five or more vehicles, or replacing vehicles every year, a master facility saves time and usually money: one credit assessment, one set of documents, consistent pricing and a limit that is ready when the next vehicle is. For one or two vehicles, individual finance is simpler. Businesses that grow into a fleet often convert their existing vehicle loans into a facility at the next renewal.

The lender sets the limit from your financials, existing vehicle commitments, the size and age of the current fleet and your replacement plans, typically ranging from $100,000 to several million. Limits are reviewed annually and can be increased as the fleet grows. Full financials are usually required to establish the facility, after which each drawdown needs only the vehicle invoice and details.

To establish the facility: two years of financials, recent BAS and bank statements, a schedule of the current fleet and its finance, your replacement plan and identification for directors. After that, each drawdown needs only the vehicle invoice, the registration details and confirmation of insurance. Your broker prepares the initial pack and handles each drawdown as vehicles are ordered.

One to three weeks to establish the facility, because the lender assesses the whole business and agrees a limit. Once it is in place, vehicles are typically funded within 24 to 48 hours of the invoice. If you have vehicles on order, tell your broker the delivery dates so the facility is ready before they arrive.

Yes. A facility can cover cars, utes, vans, light trucks and sometimes trailers and plant, each drawn down on terms that suit the vehicle. A sales fleet of cars might sit on three-year leases with the vehicles returned, while utes and vans sit on five-year chattel mortgages with a balloon. Some lenders also offer fully maintained operating leases for fleets that want servicing and tyres bundled into one monthly cost.

Often, yes, where the vehicles are replaced on a set cycle. Setting the balloon close to the expected resale value keeps repayments low and means the sale of each vehicle at replacement time clears most of what is owed. Vehicles kept for their full life suit a lower balloon or none. Your broker aligns the balloon and term to your replacement cycle for each vehicle class.

Yes. Existing vehicle loans from several lenders can be paid out and brought under one facility, which simplifies the monthly debits and often improves pricing. Payout figures are obtained from each lender, and any early payout fees are weighed against the savings. Vehicles owned outright can also be used as security to establish or increase the limit.

Yes. Many technology lenders set up a master agreement with a limit so additional hardware, licences or stages of an implementation can be added as schedules without a fresh application, each on its own term. This suits phased rollouts and businesses that add staff and devices regularly. Your broker sets the limit to cover the planned project and headroom for growth.