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Features and benefits
No upfront deposit and no extra security
Finance the drive-away price up to $250,000 using only the vehicle as security.
Competitive rates
Fixed rate for the life of the loan giving you cash flow certainty.
Easy online application
Quick quotes and apply online in 20 minutes.
Balloon payment available
Keep monthly repayments down by paying a lump sum at the end of the term.

Why choose a Business+ Vehicle Loan?

Vehicles are essential income earners for all kinds of small businesses. But they’re expensive, tying up thousands of dollars of your business’s cash.

Our Business+ Vehicle Loan can be used for new and second-hand vehicles up to five years old that are bought from a dealership.

You can buy passenger and light commercial vehicles including:

  • Cars & 4WDs
  • Light commercial trucks & cab chassis
  • Utes & vans
Rates & fees
Our Business+ Vehicle Loan has personalised fixed rates based on your business’s circumstances and structure of your loan. See all our business loan rates.
Rates
Fees
Rates
Interest rate structure 6.29% p.a. to 16.99% p.a
Loan terms 1-7 years
Balloon availableFor terms between 1-6 years.
Minimum loan amount $10,000
Maximum loan amount $250,000
Fees
OFFER
Save $595 with $0 establishment fee when you apply before 28 February 20251
Establishment fee $595
$0 when you apply before 28 February 20251
Securities administration fee $100
Service fee $8 per month
Other fees may apply.
How to apply
1. Check to see if you’re eligible
2. Create your business profile

Click ‘Apply now’ to create your business profile.

3. Apply for the Business+ Vehicle Loan

Once you’re signed in, choose the Business+ Vehicle Loan product, create a quick quote and start your application. It only takes 20 minutes.

How to apply
1. Check to see if you’re eligible
2. Log into your Business+ profile

Go to the ‘Explore’ section and find Business+ Vehicle Loan.

3. Apply for the Business+ Vehicle Loan

Choose the Business+ Vehicle Loan product, create a quick quote and start your application. It only takes 15 minutes.

Before you apply

You’ll need to meet several requirements to be eligible:
  • Have an ABN for your business
  • Have at least one year trading history
  • Annual turnover of at least $75,000
  • Be a sole trader or a company director
  • Provide a personal guarantee from all directors (if applicable)
  • Know the VIN or make and model of the vehicle you want to buy from a licensed car dealer

See full eligibility requirements

Explore more about Small Business Banking

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Benefits of a Business Vehicle Loan

A business vehicle loan doesn’t just get you the vehicle you need, it can make smart business sense. Find out why here.

Read more
Apply for a Business Vehicle Loan

Here’s a simple guide to buying your next business vehicle with a business vehicle loan. Learn what you’ll need to secure your business vehicle finance.

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Further reading

FAQs
Business+ Vehicle Loan explained

You’ll need to meet our eligibility criteria for a Business+ Vehicle Loan. You can find these here.

When you apply for business finance, you (and any directors, partners or guarantors) may need to provide:

  • Financial statements, preferably prepared by an accountant
  • Proof of individual income
  • Bank statements
  • Identification

These documents help us understand your business’s financial position.

You can buy a car, ute, van, truck, trailer or bus from a dealership with a Business+ Vehicle Loan. Your new vehicle is used as security against the loan.

A personalised interest rate is an interest rate based on an assessment of your credit score. If you have an excellent credit score and a good history of repaying loans, credit cards and other bills, you’ll likely be offered a lower interest rate.

When you apply for a Business+ Vehicle Loan, your business and individual situation, vehicle type and credit score will be considered when calculating your personalised interest rate.

A balloon payment is a final lump-sum that’s paid at the end of your loan. It’s a percentage of the vehicle’s purchase price and is paid in addition to your regular repayments and fees.

A balloon payment may lower your monthly repayment amount, but it’s important to note that balloon payments accumulate interest. You’ll also have to set some money aside to make the balloon payment. Don’t forget to calculate the full cost to avoid paying more in the long term.

A business vehicle loan is used to buy a vehicle for business purposes. It can have some tax benefits for the business, so consult your accountant to find out which ones apply to you. Unlike a personal car loan, a business vehicle loan can offer a 'balloon payment'. A balloon payment is a lump sum you choose to pay at the end of your loan term so you can reduce your repayment amount while you're paying back the loan.

BUSINESS+ APP

‘Appy days!

Everyday business banking, savings and finance all in the Business+ app.

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‘Appy days!
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Important Information

Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply. Information on Business+ accounts is general information and does not consider your objectives, financial situation or needs. Consider the appropriateness of the information, including the Small Business Banking Terms & Conditions (T&Cs) booklet and the Business Finance Terms and Conditions, before acting on it.

Rates current as at 14 November 2024 and are subject to change.

Loan term range from 12 months to 84 months for Business+ Vehicle Loan.

Business+ Vehicle Loan rates range from 6.29% p.a. to 16.99% p.a.

1 $0 Establishment Fee Offer – Business+ Vehicle Loan.

The establishment fee is waived for a Business+ Vehicle Loan if you apply using Business+ Online and the disclosure date of your loan offer is between 7 November 2024 and 28 February 2025. You must drawdown the eligible Business+ Vehicle Loan(s) within 90 days of the disclosure date.

* The rate you are offered is calculated based on your personal circumstances and credit history. A few different factors are considered, including:

  • Your credit score.
  • Information provided in your application.
  • Existing loans.
  • The loan amount and your perceived ability to repay the loan.

Your personalised rate won’t be confirmed until you receive an offer from us (if approved) and is subject change before your loan settles.

Great Southern Bank Business+
Business+ BSB: 834 472