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Buy a new or used car for your business

Why choose a Westpac business car loan? 

  • Negotiate repayments that work for you 
  • Express approval for eligible customers and asset types 
  • A fixed rate helps you plan ahead, as you know what your repayments will be 
  • Borrow from $15k 
  • Loan terms from 1 to 7 years.


Who’s eligible? 

You’ll need to meet these requirements to be eligible: 

  • Be a tax resident of Australia – that is based, registered and operating in Australia  
  • Vehicle will be used fully or mostly for business purposes.

Your business car loan at a glance

  • Borrow from $15k
  • Competitive interest rates
  • $450 Establishment fee

Types of vehicles we can help you finance 

  • Small to medium vehicles
  • Heavy vehicles
  • Cars, vans and utes
  • Motorbikes
  • Trucks, trailers and buses.

Fees & charges

Further information on fees and charges are available in the PDF download.

Equipment Finance fees and charges (PDF 146KB)

Lady in coffee van

7 things to know before applying for a business car loan

There are a few things you should know before applying for a business car loan. Find out what to consider before applying including the pros and cons of balloon payments, tips to improve your chances of getting approved and what documents you may need to provide. 

Read more

Frequently asked questions

What is a business car loan? 

  • Sometimes referred to as a goods loan or chattel mortgage 
  • Your business buys and owns the car from the start 
  • Your business makes regular repayments to pay back the loan 
  • The loan is secured against the vehicle. 

What are the interest rates? 

Interest rates and repayments vary depending on a number of factors. Some of these may be:  

  • Type and age of the asset being purchased  
  • Term of the finance agreement. 

What is a balloon payment? 

  • A balloon payment is an amount due at the end of your loan, sometimes called a final repayment amount. 
  • Balloon payments keep monthly repayments lower and help free up your cash flow. 
  • If you choose this option, you’ll be left with a lump sum to pay at the end of the loan. You’ll also end up paying more interest over the life of the loan. 
  • Choosing to have a balloon payment means your monthly repayments won’t fully pay off the loan, you’ll still need to pay the balloon (or lump sum) leftover to close out the loan. 

What is the maximum loan term? 

  • Loan terms range from 1 to 7 years 
  • Loan terms depend on the repayment amount you can afford 
  • If you have a loan term in mind, make sure you let us know 
  • If you're buying a used or second-hand vehicle the loan term may be shorter depending on the age of the vehicle 
  • The longer the loan term the more interest you will pay. 

Is there a minimum loan amount? 

Yes, the minimum loan amount is $15k. 

Can I get a business car loan if I have a bad credit history? 

While a bad credit history is likely to decrease your chances of getting approved, it doesn’t mean you can’t get a loan at all. 

Get in touch with one of our business lending specialists to find out how we can help you. 

Instant asset write-off available to purchase vehicles and equipment

You may be eligible to deduct the full cost of your purchase under the government’s instant asset write off.*

Instant asset write-off

Things you should know

Credit criteria, terms and conditions, fees and charges apply. On-the-spot conditional approval only available to eligible existing Westpac customers with a valid ABN, trading in the same business for 2 years, no outstanding statutory payments and acceptable credit history. 

Applications for vehicle and equipment finance are subject to the Bank's normal lending criteria. Credit criteria, terms and conditions, fees and charges apply. 

* The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. Customers must seek their own independent tax advice in relation to their individual circumstances. 

Interest rates and repayments vary depending on a number of factors. Some of these may be which finance option you choose, the type and age of the asset being purchased and term of the finance agreement. 

Calculator: Terms and conditions, additional fees and charges may apply. Government taxes such as GST may alter the amounts quoted by this calculator. Obtain your own tax or financial advice to see if a product suits your needs. If you want to understand how GST affects our products please call us on 1300 360 322. Any calculation made using this calculator is only a guide and is not an offer of finance. Enter full amount to be financed. Lending criteria applies to finance applications.