Finance question
Can I finance a Scania truck for my business?
Often yes. A Scania is a mainstream heavy truck with a deep used market, and the usual structure is a chattel mortgage secured on the truck. The harder part is age and distance: of 11 used Scania prime movers we opened, six show more than 700,000 km, and lenders are more cautious on those, subject to lender assessment.
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The short answer
Scania finance turns on the kilometres, not the badge
Scania publishes no Australian price list, so a new truck is quoted to spec by a dealer. The numbers that exist are asking prices. The 11 used Scania prime movers in our Scania price guide ask $54,545 to $149,000 ex GST, and a 2012 R560 with 1,000,000 km asks $60,000 ex GST while a 2014 R560 with 205,000 km asks $149,000. Those two trucks fund very differently, even though both carry the same badge and engine rating.
The usual structure is a chattel mortgage: you own the truck, the lender takes security over it, and the term is matched to the truck's age and the work behind it. The same guide notes that lenders may shorten the term so the truck is not too old at the end, ask for more deposit or want an inspection, and that a private sale gets a closer look than a dealer sale. That is why the 1,000,000 km rows in the guide are cheap to buy and harder to fund. Some lenders will decline the oldest trucks.
If the truck is old or your trading history is short, a property-backed loan can fund the deposit or most of the purchase, because the lender then relies on the property. The cost is that your home or other property is at risk if the truck does not earn. Ventas is a broker across 40+ lenders, not a single bank, and there is no upfront fee to you; the lender pays us on settlement. Send us the model, year, kilometres, price and GST basis and we will tell you which lenders suit that truck.
Do you qualify?
What a lender looks at on a heavy truck.
The truck
Year, kilometres, service record and, where asked, an inspection.
Work behind it
A contract, customer base or trading history that covers the repayment.
Matching paperwork
BAS and tax returns or bank statements that agree with the income you state.
A deposit
Cash, or property security if the truck is old or the history is short.
Why a Scania can be easier to fund than you expect
A known make
Lenders can price the security on a Scania from the used market.
Dealer sales fund easier
A dealer invoice is simpler to assess than a private sale.
Property can cover the gap
Equity in a home or other property can fund the deposit.
A worked example
A used Scania R560 is advertised at $100,000 inc GST, which is $90,909 ex GST. Add $9,091 GST, $2,000 for inspection and $4,000 for registration, transfer and insurance and the cash needed is $106,000. A chattel mortgage of $80,000 covers most of the truck, and the remaining $26,000 comes from savings or a loan secured on property. Illustrative only.
Common questions
Frequently asked questions
Can I finance a used Scania with over 700,000 km?
Sometimes. Six of the 11 used Scania prime movers in our guide show more than 700,000 km. Lenders may shorten the term, ask for more deposit or want an inspection, and some decline the oldest trucks. Subject to lender assessment.
Is a private sale harder to finance than a dealer?
Usually. A private sale gets a closer look than a dealer sale, so have the seller's invoice, the VIN details and a mechanical inspection ready before you apply.
Do I need a deposit to finance a Scania?
Often yes on an older truck or a private sale. The deposit can be cash or equity in property, and the lender decides how much, based on the truck and your trading history.
Does Scania offer its own finance on trucks?
Maker or dealer finance, where offered, usually covers new stock through that dealer. A broker can fund a truck from any seller, including used stock, with the structure set by the lender.