Benefits of a vehicle and equipment loan
Learn about the benefits of a vehicle and equipment loan (chattel mortgage) and how it could help your business grow.
Broad range of finance options
$0 deposit required
Keep money in your business with no deposit required , no monthly fees and fixed interest rates and repayments.
Flexible equipment loan structure
A NAB business banker will help you structure your equipment loan and repayments to what works best for you and your business.
No extra assets for security
The only asset you need to provide for security is the business vehicle or equipment you are purchasing.
Purchase multiple assets
We can set you up with a limit to save you applying for finance multiple times.
Our rates and fees explained
Our interest rates, fees and deposits associated with business vehicle and equipment loans.
Upfront deposit
$ 0
For most purchases, no deposit is needed (subject to eligibility)
Monthly fees
$ 0
No monthly fees for maintaining your vehicle or equipment loan.
Initial set up fee
$ 600 once off
Applies to all approved loan applications.
| Additional fees | Details about any additional fees can be found in our business banking fees and charges guide. |
|---|---|
| Interest charges |
Charges vary according to fixed interest rates and projected outstanding loan balances. |
Getting started The application process
Step 1
Check your eligibility
- Your business has a valid Australian Business Number (ABN).
- Your business is registered for Goods and Services Tax (GST).
- You intend to use the product mostly for business purposes.
Step 2
Enquire online
Use our easy online enquiry form and a NAB business banker will return your call to discuss which options are most suitable. We may need to request further information to enable us to assess your enquiry.
Step 3
Sign documents and collect your purchase
Once you’ve provided us with the final invoice, we’ll email you the paperwork to sign. When we receive all the documents back and your vehicle or equipment is ready to be collected, we’ll pay the supplier.
Help and support Common equipment and vehicle loan questions
What is a balloon payment?
A balloon payment is a lump sum repayment at the end of the loan term, after all regular monthly repayments have been made. When your loan has a balloon payment your monthly loan repayment will be lower, and you’ll pay more interest over the term of your loan. Alternatively, without a balloon repayment your repayments will be higher, you’ll pay less interest, and you will have no lump sum to pay at the end of the term.
When can I pick up my car or equipment from the supplier?
You can collect the vehicle or equipment once all the signed documents are received, all outstanding requirements have been met and we’ve paid the supplier.
Other options to consider
We have a range of finance options to suit different types of businesses.
Finance lease
Rent a vehicle or equipment to suit your business needs.
NAB Green Finance for Vehicles and Equipment
Learn about our green equipment financing options for businesses, including a fixed rate for electric vehicles.
Hire purchase
Hire the vehicle or equipment your business needs with no upfront deposit and own it at the end of the hire period.
Get in touch
Sales enquiries
Let us help with your business banking needs. Request a call back to chat with one of our business bankers.
Contact us
Explore our business banking contact information and get support with a wide range of products, services and topics.
Visit a NAB business banking centre
Let our business banking specialists help you in person.
Terms and Conditions
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Lending criteria and terms and conditions apply (available on application).
These products are issued by National Australia Bank Limited ABN 12 004 044 937.