How to Get Approved Fast for Fleet Finance with Switchboard
How to Get Approved Fast for Fleet Finance with Switchboard
Five trucks, five loans, five direct debits. Looks fine on paper, feels rough in the bank account. Here’s why one fleet facility usually feels calmer.
Most operators start with one ute, then a rigid, then a prime mover or two. Every upgrade comes with “easy finance” and suddenly your asset finance is spread across half the market.
Different lenders. Different dates. Different rules. You might be busy and profitable, but your cash flow feels jumpy all month.
That’s where a cleaner setup like fleet finance — plus the right cash-flow tools — can make things feel a lot less chaotic.
🚧 The Problem: Loans All Over the Shop
Over time you end up with a mix of loan types, balloons and terms that don’t talk to each other. None of them care when your customers actually pay you.
One truck’s on a chattel mortgage, another is leased, one has a balloon, one doesn’t — and you’re still trying to keep on top of fuel, tyres and all the other OPEX.
- Repayments land on random days across the month
- Rates, terms and fees all slightly different
- No one simple view of what the fleet is costing you
Example: three debits on the 5th, 14th and 28th is fine for the lender — but rough when your main debtor pays on the 20th.
💸 How Multiple Loans Smash Cash Flow
Cash flow for truckies is all about timing. Fuel, wages, insurance and tax hit like clockwork — your loan payments need to slot into that rhythm, not cut across it.
When five lenders dip into the account on different days, even healthy jobs can feel tight until invoices clear and GST is sorted.
| Setup | What It Feels Like |
|---|---|
| 5 separate vehicle loans with mixed terms | Money in, money out, no clear pattern. You’re checking the account every morning. |
| 1 fleet facility, 1 repayment date | You know what’s leaving and when, so you can line up fuel, wages and tax ahead of time. |
The ATO’s general cash-flow advice is simple: smoother, predictable outgoings make life easier. Random loan debits do the opposite. See more at ato.gov.au.
⚙️ The Fix: One Fleet Facility, One Plan
A fleet facility lets you roll multiple loans into one limit. Instead of five separate deals, you’ve got one structure that’s built for trucks and trailers.
That can sit alongside tools like a Business Line of Credit, Working Capital Loan and Invoice Finance so repairs and short-term gaps don’t choke repayments.
- One repayment date – easy to plan around your big debtor runs
- One lender and limit – add or upgrade vehicles inside the same facility
- Cleaner balance sheet – truck debt lives in one simple bucket
For the big-picture version, tie this into our Business Cashflow System (Working Capital + LOC + Invoice Finance).
📊 Real Fleet Example (Quick Version)
John runs a courier fleet with eight vans. Over a few years he ended up with five separate loans across banks and dealer finance.
We helped him move into a single fleet facility through our vehicle & asset finance panel, and set the repayment to land after his major debtor pays each month.
- 8 vans under one facility, one monthly date
- Approx. $1,100 per month freed up in repayments
- Enough breathing room to hire another driver for a new contract
💬 Why Truckies Use Switchboard Finance
Switchboard works with truckies and transport operators every day — from first prime mover through to fleets cleaning up old messy deals.
Because we’re brokers, we can compare lenders, low-doc options and different structures to match how your fleet actually runs, not just what the dealership is pushing.
- Truck-focused lender panel with low-doc options for ABN holders
- Support for refinance, upgrades and adding units as you grow
- Advice that ties into your truckie cash-flow plan, not just one loan
Want a simple starting point? Our Truckie Loan Pack walks through the key steps before we even talk to a lender.
❓ Fleet Finance FAQ
1. Can I roll my existing truck loans into a fleet facility?
Often, yes. We can look at refinancing your current truck and trailer loans into one consolidated fleet facility so you’ve got a single repayment instead of a handful of random debits.
2. What’s the minimum number of vehicles for fleet finance?
Most lenders want at least two vehicles. If you’re still building up, we can look at low doc truck finance first, then roll things into a fleet facility once the numbers stack up.
3. How does fleet finance affect tax deductions?
It depends if it’s set up more like a lease or loan. You may be able to claim interest and depreciation, but your accountant is the one who should call the shots on tax — we stick to the lending.
4. Can I get fleet finance with a newer ABN?
If your ABN is new but your driving or contracting history is strong, there can still be options, especially when paired with tools like invoice finance to smooth out cash flow.
5. Is fleet finance only for big transport companies?
No. Smaller operators with three or four trucks often feel the biggest benefit because it instantly simplifies cash flow and makes growth decisions easier.
