Truck Loan Repayments Calculator

Work out how much a truck loan will cost you month to month with Savvy's easy-to-use repayment calculator.

No obligation. It won't affect your credit score.
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, updated on July 3rd, 2024       

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Australian business relies on trucks. Whether it’s transporting goods, fuel or heavy plant, trucks are an essential part of a company’s continued success. If you’re wondering how much your preferred truck loan might cost, you can use Savvy’s simple truck finance calculator below to make an approximate chattel mortgage calculation.

All you need is how much you intend to borrow, the interest rate, your loan term and whether you want to make a deposit. You can also select your repayment frequency for an accurate demonstration of your obligations before applying with Savvy, where you can experience a vast range of lending options all in one place.

The features of a truck loan with Savvy

Competitive interest rates

At Savvy, you can compare and choose from low fixed rate chattel mortgage deals to help your business save on financing across your repayment term.

100% financing

You won’t need to worry about making a deposit if your business doesn’t have the means to do so: we’ll help you get approved for the full truck purchase price.

Borrow over up to seven years

You can shape your own repayments by selecting the term over which you make them, from as long as seven years down to as little as 12 months.

Choose any type of truck

Whether you’re in the market for a tow truck, semi-trailer, heavy vehicle or anything in between, you can be approved for financing with a lender who suits your needs.

Enjoy various tax deductions

With GST claimable on the purchase price of the truck, as well as truck depreciation and interest on your payments, borrowers can take advantage of important tax benefits.

Purchase a new or used truck

Your options aren’t limited to brand-new trucks on the lot, however. You can also choose from an array of used vehicles from both dealers and private sellers.

Have your on-road costs covered

Stamp duty, vehicle registration, extended warranties and insurance can all set you back a substantial amount upfront, so you can arrange for these to be covered by your loan.

Fleet financing available

We partner with lenders who offer finance solutions for truck fleets also, making the process simpler for buying multiple vehicles at once for your business.

Why you should finance your truck with Savvy

Your truck financing options with Savvy

Frequently asked questions about truck financing

How do I find the best truck financing deal for my business?

To make the most of your truck loan, you should determine the life cycle of your truck, namely how long you’re looking to use it for and how old it is. You should also consider your business goals. Some businesses might need to keep up with new technology and require a shorter-term lease. Others prefer to own their truck outright. Additionally, better finance deals come with selecting new or close to new trucks. These are lower risks, and lenders pass on that low risk in the form of lower interest rates.

Can I be approved a truck loan if my business is seasonal?

Yes – our flexible lenders are able to work with businesses whose income varies depending on the time of year. These can be conducted with seasonal payment plans, as worked through with your Savvy consultant and lender to find the most suitable schedule for your business.

Am I able to use a personal loan to buy my truck?

You can – unsecured personal loans are generally only taken out for business purchases when the asset is beyond your lender’s age requirement (usually 15 to 20 years old). Business owners can use these for personal or business use how they see fit, but they’re capped at $50,000 for borrowing and come at higher interest rates. Overall, if you’re planning on using the funds 100% for business, a business loan is the better option for you.

Will I need to sort out insurance on my truck?

Yes – you’ll need to arrange a comprehensive insurance policy for your truck on all types of finance except for operating leases, in which your financier will source this for you. You’re able to choose the policy that your truck is covered under, though, so you can potentially save money on insurance by choosing your own.

What will my interest rate be?

The interest you’ll be charged on your truck loan is dependent on a variety of factors, which include:

  • The size and turnover of your business
  • Your business’ credit score
  • The type, age and condition of your truck
  • The type of finance you choose


You can speak to your Savvy consultant to receive a personalised interest calculation based on all of these factors and more after submitting your quick quote with us.

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