Heavy Vehicle
A Heavy Vehicle is a commercial truck or machinery that exceeds regulated weight thresholds — typically vehicles over 4.5 tonnes GVM. Examples include prime movers, rigids, tippers, pantechs, tilt trays, crane trucks and specialised freight vehicles.
Heavy Vehicles are highly favourable assets for Equipment Finance, Low Doc Truck & Asset Finance, and the specialist Truckie Finance Hub. Related glossary terms: Yellow Goods, Asset Type, Useful Life.
Relevant insights for truckies and truckers include: How Much Truckies Can Borrow, Low Doc Truck Finance Tips, and Prime Mover vs Rigid.
Why Heavy Vehicles Matter
Heavy Vehicles are strong lending assets due to long working lifespans, stable demand, and robust resale markets. Lenders view them as lower risk compared to many lighter commercial vehicles, which supports:
- Longer finance terms (often up to 7 years)
- More competitive interest rates
- Higher approval rates for established operators
- Eligibility for Low Doc loans in many cases
- Flexible structures (balloons, residuals, refinances)
They are core assets in transport, logistics, civil construction, waste management and mining — especially for professional truckies and truckers running heavy fleets.
Examples of Heavy Vehicles
- Prime movers
- Rigid trucks
- Tippers
- Pantechs and tautliners
- Crane trucks
- Tow trucks and tilt trays
- Refrigerated trucks
- Hook lifts and skip loaders
These assets often qualify for Low Doc approvals thanks to strong valuation data, predictable working life and established demand in the used truck market.
Official reference: nhvr.gov.au