Commercial car finance opens a lot of doors for WA businesses. Chattel mortgages, commercial hire purchase and leasing arrangements offer different tax incentives depending on the specific circumstances. But if you’re considering this route, it’s important you verify whether your vehicle actually qualifies.

Trust us – it isn’t always obvious! Different lenders have different criteria and rules can change depending on the structure of your business. At Loans Unlimited, our crew are here to help you make sense of it all, taking on all the heavy lifting while you crack on with daily operations.

This article outlines what sort of vehicles qualify for commercial finance. For more information, contact our crew or start your application by clicking ‘Apply Now’.

A Commercial Vehicle Is About Use, Not Just Design

Don’t fall into the trap of thinking trucks, utes and vans are the only vehicles that can be classified “commercial”. A commercial vehicle can be anything, as long as it’s used primarily for business activities.

For most lenders, the magic number is 50% business use. If a sales rep uses a sedan 80% of the time to travel between clients, it’s just as much a commercial vehicle as a ute packed with tools every morning. But do note, some vehicles may require higher commercial use.

The clearer the purpose, the easier the approval process. If you’re considering applying for commercial car or fleet finance, speak with our team and they can help you craft a lender ready application.

Vehicle Types Our Lenders Consider ‘Commercial’

Here are the categories lenders typically recognise for commercial vehicle and fleet finance:

1. Utes and Dual-Cabs

These are Australia’s favourite. If you’re carrying tools or materials or moving staff around the suburbs, a utes will tick the commercial box without a problem. As long as the vehicle is on the job site Monday-Friday, our lenders are open to single or dual cab models and will be happy for it to double as the family weekender.

2. Vans and Delivery Vehicles

Vans suit everyone from tradies and delivery drivers to florists and caterers. You’ll have no trouble securing a commercial loan for cargo, vans, refrigerated vans and compact delivery vehicles. If you’re looking to purchase multiple vans, consider our auto fleet financing.

3. Trucks and Light Rigid Vehicles

Trucks are the most straightforward candidates for commercial finance because they’re typically purchased solely for business use. Our lenders are open to new, used and customised models and (as they do with vans) can help you finance an entire fleet.

4. SUVs Used for Business

Mid and large SUVs are a popular choice for small businesses right across WA. If you’ll be carrying equipment, driving out into the regions or transporting multiple team members, an SUV is the car for you. As long as it’s clearly and consistently used for business purposes, it will qualify under commercial finance.

5. Specialist and Fit-Out Vehicles

Like trucks, commercial finance is easy for specialist vehicles because of their obvious business purpose. Think of things like food trucks, mobile businesses or vehicles designed for mining operations.

6. Passenger Cars with High Business Use

Commercial cars don’t have to look commercial. You might be a sales rep or consultant racking up a lot of miles and a hatchback could be right for you. Our lenders are more than happy to finance these vehicles under commercial arrangements. After all, the deciding factor is the primary use, not the way the car looks.

What Vehicles Don’t Count?

• Vehicles used mainly for personal trips

• Leisure vehicles used only on weekends

• Cars purchased for a side hustle or a venture without a clear business structure

If you’re unsure, get in touch with our crew and they’ll point you in the right direction.

Apply for Commercial or Fleet Finance Today

Whether you’re after a ute, truck or entire fleet of rental cars, Loans Unlimited makes the commercial financing process fast, transparent and business focused. Our panel of 40+ lenders is sure to provide an option that suits your business.

Just tell us the vehicle you’re looking for and how you plan to use it and our crew will do all the heavy lifting. To start your application and get preapproved in less than 1 hour, click ‘Apply Now’.