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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
  • Establishment fee from $450

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 117KB)

Discover your borrowing power in 10 minutes

  • Want to borrow between $10k and $3m? 
  • Looking for a business loan, business overdraft or vehicle and equipment finance?

We can help. Just have these documents handy:

  • Latest annual financial statements or business tax return
  • 12 months' business activity statements from the ATO
  • Signed copy of your lease agreement (only required for property investments)


Enquire now to book in your 10 min borrowing power chat or if you just need to talk through your business needs.


What customers have said about their borrowing experience

"We were over the moon and very appreciative of the speed with which we were able to get an approval" (Lawn Mowing business, VIC)


"I was extremely satisfied with how quick we were able to apply and receive our funds. It took away a lot of stress out of our expansion" (Film Producer, QLD)


"Applying was really easy and meant we were able to purchase the property knowing we had the funds" (Bedding retailer, VIC)

Source: Westpac business lending applicants 2023.

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. 


To find out the interest rate you could be paying, get a quote online or call us on 1300 360 322 to speak to a business lending specialist. 

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 and the useful life of the asset
  • 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. 

Where can I get information on a payout figure? 

Call us on 1300 360 322 to speak to one of our business lending specialists. 

Additionally, you may like to refer to our agreement for important information including fees and charges that may apply if you choose to end the agreement early. 

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.