Refrigerated truck finance from 48+ Australian lenders.

Similar terms to other rigid trucks, up to seven years on new units, though lenders note that fridge units and insulated bodies wear differently from the chassis. A five-year term with a modest balloon suits most food and pharmaceutical delivery businesses. Used refrigerated trucks are assessed on the fridge unit’s hours and service history as well as the truck’s kilometres.

Yes. A supply or delivery contract with a supermarket, wholesaler or restaurant group is strong evidence of income for the truck and can move an application from a deposit to no deposit. Lenders like cold-chain work because demand is steady. Send the contract with your application.

Yes. The insulated body, fridge unit, standby power and temperature logging can be financed with the cab chassis when quoted together, so the whole refrigerated truck settles on one contract. Body and fridge builders invoice separately from the truck dealer; your broker combines the quotes into a single approval.

Yes. Refrigerated vans on a car licence are financed the same way, with the conversion included when quoted with the van, and they suit smaller delivery runs and start-ups. Lenders finance both, and your broker can compare the cost of a van against a light rigid truck for your routes.

Often no deposit is required, particularly for established businesses buying standard assets from a dealer. A deposit is more likely where the business is new, the asset is older or specialised, the credit profile is weaker, or the amount is large relative to turnover. Deposits typically range from around 10% to 30% in those cases. Putting money in reduces the amount financed and can improve the terms offered, but it is not always necessary.

The common ones are an establishment or documentation fee charged at settlement, a monthly account-keeping fee, and a PPSR registration fee for recording the lender's interest in the asset. A brokerage fee may also apply, which we disclose to you in writing before anything is submitted. Some agreements include an early termination or break cost. Fees vary by lender and are typically a modest part of total cost compared with the interest, but they should still be compared.

Lenders publish maximum residual or balloon percentages that fall as the term lengthens, because the asset is worth less at the end of a longer term. For a vehicle, a common pattern is up to roughly 50% on a two-year term, reducing to around 20% to 30% on a five-year term. The ATO also sets minimum residual values for finance leases. A larger balloon lowers monthly repayments but increases total interest and leaves a lump sum to deal with at the end.

It is far less common than it once was. Under hire purchase the financier owns the asset and you hire it, with ownership transferring automatically after the final instalment. Since the GST changes that made chattel mortgage more attractive for businesses accounting on a cash basis, most equipment lending is written as a chattel mortgage or lease instead. Some lenders still offer commercial hire purchase, and your accountant can advise whether it suits your circumstances.

The Personal Property Securities Register is the national register of security interests in personal property, including vehicles and equipment. When a lender finances an asset, it registers its interest so the security is publicly recorded and its priority is protected if the asset is sold or the business fails. It also means a buyer searching the register will see the finance. The registration is released once the contract is paid out, and a small registration fee is usually passed on to you.

A balloon is a lump sum left to pay at the end of a chattel mortgage, which lowers the regular repayments during the term. For example, a 30 per cent balloon on a $100,000 vehicle leaves $30,000 to pay at the end, so the monthly amount is calculated on $70,000 plus interest on the full balance. Balloons are commonly set between 0 and 40 per cent depending on the asset and term, and at the end you can pay it out, refinance it or sell the asset to clear it. A balloon reduces monthly cost but increases total interest, so your broker shows both figures side by side.