Rent to Own Trucks (Rent to Buy): the Fast Bridge to Ownership
Last updated: 13 August 2025
By Michael Pajar, Director & Business Finance Broker, Casey Asset Finance
Need a truck now but don’t have statements (cash) or you have a low credit score? Rent to own gets you moving fast, then we refinance to a chattel mortgage when your trading history is solid so you own the truck and usually lower your ongoing cost.
What is rent to own for trucks?
Rent to own is a commercial structure where you rent the truck with an option to purchase. You make weekly payments, build a good payment history, and—once eligible—refinance to a chattel mortgage to take ownership. It isn’t a traditional loan; approvals focus on your capacity to meet weekly payments.
Get a 10-minute pre-check — no obligation.
No hard enquiry. We’ll review options first.
Who this helps (and why it works)
New or young businesses with a new ABN
Low-doc applicants that can’t provide bank statements
Credit-challenged owners with multiple credit enquiries
Time-sensitive operators who need the truck working now to generate revenue.
Visa holders may be considered on a case-by-case basis.
The structure focuses on payment capability and practical use, so you can get on the road sooner—then graduate to a chattel mortgage when your trading history is in place.
How it works (simple flow)
Quick chat. We listen to your situation, the truck you need, the job you want, and your weekly budget.
Find or secure the truck. If you have one in mind, great. If not, we can help source a suitable option. The provider purchases it in their name and sets up the rent-to-buy agreement.
On the road fast. You start using the truck right away and make fixed weekly payments.
Build “good payment” history. On-time payments are everything. Great opportunity to build 12-months of clean conduct.
Refinance to a chattel mortgage. Often after ~12 months of clean trading and repayment conduct, you can refinance, own the truck, and typically reduce the ongoing cost by selecting a better lender you now qualify for.
Costs, explained simply
Rent to own doesn’t present a traditional “interest rate” like a chattel mortgage. You’ll see:
Weekly rental payments
An option to purchase
A buyout figure
Sometimes establishment/admin fees and other charges
When converted to an equivalent rate, the effective cost is often higher than standard finance. That’s why we set rent to own up as a short-term bridge, not a long-term solution. The value is in speed to income and a clear path to ownership—not in being the cheapest finance on day one.
Cost of delay (reality check).
Two or three weeks (even months) off the road can cost more than set-up fees or the difference in weekly payments. If getting the truck working now keeps contracts, reduces hire costs, or prevents downtime, the bridge can pay for itself long before you refinance.
Your bridge plan to ownership (0–12 months)
Month 0–1: Get moving. We prioritise a structure that won’t block your refinance options later. Keep your weekly payments predictable and your insurance current.
Month 3–6: Mid-term check-in. Avoid dishonours, keep your BAS up to date, and maintain steady revenue. We check in to see you’re on track for refinance.
Month 9–12: Refinance prep. We assemble your pack—recent bank statements, BAS where relevant, ATO position, and proof of on-time payments—then re-cut the deal to a better lender and chattel mortgage so the truck sits on your balance sheet and your ongoing cost is typically lower.
Some programs allow refinance after the first year without punitive fees. We prioritise those options to keep the path open.
Why use a broker instead of going direct
More options, fewer dead-ends. We look beyond one provider and structure the deal for today and the refinance.
Speed and sourcing. If you don’t have a truck yet, we help you find one that fits provider criteria.
Advocacy on edge cases. If something isn’t straightforward, we workshop it with the lender up front.
Future-proofing. We avoid choices that make refinance harder later.
Ongoing support. If your situation changes, we’ll adjust the plan.
Speak with Michael — map your 12-month plan to ownership.
No hard enquiry. We’ll review options first.
Eligibility & what you can fund
Commercial use only (no personal-use applications).
Australian-invoiced assets only; no written-off vehicles.
No rideshare/taxi (e.g. Uber).
No current bankruptcies (Part X).
Private sales may be allowed if requirements are met.
ID verification and standard checks apply.
Typical limits (subject to assessment): up to $125,000 per asset and up to $250,000 total exposure across assets.
Common assets funded: trucks, trailers, utes, vans and minibuses, tractors, excavators, skid steers, wheel loaders, graders, dozers, bobcats, and other commercial equipment (subject to fair-value checks).
What to prepare (docs & expectations)
Privacy consent
100 points of ID
Assets & liabilities summary
A short application (we’ll guide you through it quickly)
Keep bank conduct tidy (no dishonours), maintain insurance, and stay on top of ATO obligations—these details support a smoother refinance to a chattel mortgage.
Success checklist to refinance faster
On-time weekly payments (no missed or late payments)
Stable revenue through the year
Clean bank conduct (avoiding dishonours/overdrawn patterns)
Insurance current on the asset
ATO position tidy (lodgements up to date, workable arrangements if relevant)
When rent to own is a bad fit (candour builds trust)
You can already qualify for a chattel mortgage on day one.
You want the lowest possible cost immediately (without the bridge).
You need a rideshare/taxi vehicle.
You’re not comfortable with higher effective cost in the short term, even as a bridge.
If that’s you, we’ll look at standard truck finance options instead. See our pages on truck finance, business loans, and low doc business loans for more suitable pathways.
FAQ
Is rent to own a loan?
No. It’s a rental with an option to purchase, assessed on weekly payment capability, not a traditional loan structure.
Can I refinance to a chattel mortgage after 12 months?
Often yes—if you’ve built clean trading and repayment history, kept insurance current, and maintained tidy bank conduct and ATO obligations.
What documents do I need?
Typically privacy consent, 100 points of ID, an assets & liabilities summary, and a short application. We’ll guide you through it.
Are private sales OK?
Most of the time, yes—subject to checks (valuation, fair value, clear title).
Are Uber/taxi vehicles eligible?
No. Rideshare/taxi vehicles aren’t typically accepted under this structure.
Can I apply with bad credit or a new ABN?
Yes, potentially. Past issues or a new ABN don’t automatically rule you out—assessment focuses on your ability to meet weekly payments.
Can I use a written-off vehicle?
No. Written-off vehicles aren’t eligible.
Professional disclaimer: The information above is general in nature and does not consider your objectives, financial situation, or needs. It is not tax, legal, or financial advice. Product availability, eligibility criteria, fees and charges, and assessment standards are subject to change and provider approval. Before acting, you should consider whether the information is appropriate for your circumstances and seek advice from your accountant or qualified adviser.
Ready to get moving? Enquire now.
No hard enquiry. We’ll review options first.
Text “rent to own” or call 0450 622 115 for a quick 10-min chat to check your eligibility.
