Question 1

Can a tradie finance a new ute or work vehicle through a broker?

Accepted Answer

Yes. Vehicle finance for tradies covers utes, vans, trucks and towing vehicles. Asset finance lenders typically approve vehicle finance based on your ABN history, business cash flow and the asset itself. Approval can be fast — sometimes same day. The vehicle is used as security, so you do not need to put up property.

Question 2

What equipment can I finance for my trade business?

Accepted Answer

Most business equipment can be financed including tools, compressors, generators, trailers, bobcats, excavators, scaffolding, solar systems, fit-out and machinery. Lenders assess the useful life of the asset, your ABN history and business cash flow. Most equipment finance does not require property security.

Question 3

How long do I need to have had my ABN to get equipment finance?

Accepted Answer

Most lenders want at least 12 months of ABN history for equipment finance. Some lenders will finance new ABN holders if the director has a clean credit history and the equipment is a standard business asset. Longer ABN history and business bank statements showing regular turnover improve your approval chances and rates.

Question 4

Can I get a home loan if I am a self-employed tradie?

Accepted Answer

Yes. Self-employed tradies can access home loans, though income verification uses 2 years of tax returns rather than payslips. Lenders look at taxable income plus allowable add-backs. Business structure (sole trader, company or trust) affects how income is calculated. A broker review will clarify your actual borrowing position before you apply.

Question 5

What is the difference between a chattel mortgage and a hire purchase for equipment?

Accepted Answer

A chattel mortgage means you own the asset from day one and the lender holds a mortgage over it as security. A hire purchase means the lender owns the asset during the term and ownership transfers to you at the end. Both are common for business equipment. Tax treatment differs — your accountant can advise which suits your business structure.

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