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Truck Finance Options

Truck Finance Options

Credit One provides a range of finance solutions to get you into your truck or vehicle sooner!

Whether it be personal or business use, options include Asset Lease, Commercial Hire Purchase, and Commercial Chattel Mortgage.

Find out more by speaking to your Credit One consultant, call us on 1300 CREDIT (1300 273 348).


Asset Lease

An asset lease enables the customer to use the truck with the benefits of ownership, while the financier retains actual ownership. 

How does it work?

The financier purchases the truck on behalf of the customer, who then pays the financier a fixed monthly lease rental for the term of the lease. 

At the end of the lease the customer can pay a residual on the lease and take ownership of the truck, sell the truck or re-finance the residual while continuing the lease.


Commercial Hire Purchase 

Commercial hire purchase is also known as a corporate hire purchase, hire purchase or offer to hire, and is often abbreviated as CHP or HP.

How does it work?

Under a CHP arrangement the financier agrees to purchase the truck on your behalf and hire it back to you over a set term. 

You use the truck for the term of the contract but you are not the owner. You take full ownership of the truck at the end of the term when the total price of the vehicle and the interest charges have been pain in full. 


Commercial Chattel Mortgage 

A chattel mortgage is a commercial loan product where the customer takes ownership of the truck at the time of purchase. 

How does it work?

Under a chattel mortgage, the financier advances funds to the customer to purchase a truck, and the customer takes ownership at the time of purchase. 

The financier then takes a mortgage over the truck as security for the loan and once the contract is completed, the charge is removed giving the customer clear title to the truck. 


Note that each product have varying GST and Tax Implications

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Or phone 1300 CREDIT (1300 273 348) to speak with one of our finance specialists.


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