✅ Updated January 2026 — rates verified

Financing a work ute is one of the biggest financial decisions most tradies make. A 2% difference in interest rate on a $60,000 vehicle over 5 years is over $3,000. Here's who has the best rates right now.

📋 In This Article

  1. →Current rate comparison
  2. →Chattel mortgage explained
  3. →How to get the best rate
  4. →Repayment calculator

Current Ute Finance Rate Comparison (Jan 2026)

Rates shown are indicative chattel mortgage rates for a $60,000 vehicle, 5-year term, good credit history. Always get a formal quote as individual rates vary.

LenderRate FromLoan AmountTermBalloon OptionApproval SpeedAction
Savvy Finance ⭐ Best RateBroker — 30+ lenders
5.99%p.a. comparison
 $10k–$300k 1–7 yrs ✓ Same day Get Quote →
NAB Vehicle FinanceBig 4 security
7.49%p.a. comparison
 $5k–$500k 1–7 yrs ✓ 2–3 days Get Quote →
ANZ Commercial VehicleFlexible terms
7.85%p.a. comparison
 $10k+ 1–7 yrs ✓ 2–5 days Get Quote →
⚠️ Rate disclaimer: Rates shown are indicative only as at January 2026. Your actual rate depends on credit history, loan amount, ABN age and lender assessment. Always compare formal quotes before signing.

Why a Chattel Mortgage Is Almost Always Better for Tradies

A chattel mortgage is the most tax-effective way for a business to finance a vehicle. Unlike a personal car loan, a chattel mortgage lets you:

  • Claim the GST upfront — on the full purchase price in your next BAS
  • Claim depreciation — including potentially the instant asset write-off
  • Claim the interest — as a business expense each year
  • Own the vehicle from day one — unlike a lease

5 Ways to Get a Better Rate

  1. Use a broker, not a dealer — Dealer finance is almost always marked up. A broker shops 20–30 lenders at once.
  2. Have your ABN for 2+ years — Lenders love established ABNs. Under 12 months and you'll pay a premium.
  3. Keep your business account clean — Regular income, no dishonours, healthy balance.
  4. Put a deposit down — Even 10–20% changes the risk profile and can drop your rate.
  5. Buy at the right time — End of financial year (June) and end of calendar year dealers are more motivated to move stock.

Estimate Your Repayments

Use our free calculator to estimate monthly repayments before you talk to a lender:

🧮 Open Ute Loan Calculator →