How lenders finance imported and grey import vehicles for business, why approval and compliance come before settlement, and the checks to run first.
Business Owners Hub
Imported Vehicle Finance · Grey Imports · Compliance
An imported ute or pickup reaches a lender in a set order: approval, landing, compliance, registration, then finance. Here is how lenders treat grey imports, what has to be in place before a loan settles, and the checks worth running first.
Quick Answer
You can finance an imported vehicle for your business, but most lenders will only settle once it has an import approval, is complied and registered in Australia and can be valued, so the paperwork usually has to come before the money. That order changes how you plan the purchase: the overseas price, shipping and compliance are typically paid before any business vehicle finance can settle, and the lender still needs a valuation it can rely on.
Also called: imported vehicle finance, grey import car finance, parallel import vehicle finance. All three describe funding a vehicle that was brought into Australia outside the manufacturer's own local supply.
Can you get finance for an imported vehicle?
You can get finance for an imported vehicle, but usually only once it is legally on the road in Australia and a lender can put a value on it. The tension is in the timing. With a locally delivered ute or van, finance is arranged first and the dealer is paid at settlement. With an import, the paperwork comes before the money: the vehicle generally has to be approved, landed, complied and registered before a lender will take it as security.
For a self-employed buyer that means thinking about the purchase in two stages. The first stage, buying overseas and getting the vehicle through compliance, is typically funded from your own cash or another facility. The second stage is the loan itself, most often a chattel mortgage or an ABN car loan secured over the registered vehicle. The short version of the order is complied, registered, then funded.
None of this makes an import a bad idea. It means the finance conversation should happen before you commit to a vehicle, not after it is on the water. If you run several vehicles or are weighing an import against a local alternative, the Business Owners Hub sets out the wider options.
What is a grey import, and how is it different from a locally delivered vehicle?
A grey import is a vehicle brought into Australia outside the manufacturer's official local supply, where a locally delivered vehicle is supplied in volume by the manufacturer and already approved for the Australian market. The difference matters to a lender because it changes how the vehicle reaches the road and how easily it can be valued.
The federal infrastructure department's page on importing a road vehicle into Australia explains that a road vehicle generally needs an import approval, and that the Register of Approved Vehicles (RAV) lists vehicles that have met the road vehicle standards and been approved for provision to the Australian market. Volume manufacturers do this under their own approvals. A grey import typically gets there by what the department calls a concessional RAV entry approval, and the department lists vehicles to be modified by a registered automotive workshop and vehicles more than 25 years old among those that may be eligible (read 13 November 2026).
Two neighbouring topics sit elsewhere. Imported machinery and plant that never goes on the road is covered in our guide to importing business equipment, and imported food trucks and coaches are covered in the food truck, coffee van and bus finance guide.
What is the 25 year rule for importing a vehicle?
The 25 year rule is the common name for the concession that lets older vehicles be imported more simply: the department lists vehicles more than 25 years old among those that may be eligible for a concessional RAV entry approval. It is a pathway into the country, not a finance product and not a guarantee.
Three cautions apply. The vehicle still needs an import approval, so age alone does not clear it. Whether a particular vehicle qualifies is the department's decision, and nothing here promises that yours will. And an older vehicle that clears import still has to meet your state or territory's registration requirements before it can be used on the road.
From a finance view, age cuts the other way. A vehicle old enough for the concession is typically older than many lenders will fund under a standard vehicle policy, so these deals tend to land with specialist funders, on shorter terms, or with a larger deposit. That varies by lender and by the vehicle.
How do lenders treat imported and grey import vehicles?
Lenders treat an imported vehicle as a harder security to value and resell, so the answer depends on the type of lender and on whether the model can be priced. From the underwriter's seat, the vehicle is the security, and a security nobody can put a number on is a problem regardless of how strong the borrower is.
- Major banks typically prefer vehicles that appear in the standard valuation guides and were sold new in Australia. Many will not fund a grey import at all.
- Non-bank lenders are more likely to consider an import where the model is known in the local market and has a resale history, usually with conditions.
- Specialist funders look at unusual, older and converted vehicles case by case, and price the extra risk into the rate, the deposit or the term.
The first question is usually whether the model is listed. No valuation guide, no easy yes. Where a guide does not carry the vehicle, a lender may ask for an independent valuation, lend against the lower of the price paid and that figure, limit or remove any balloon payment, and ask for a deposit. Age at the end of the term matters as well, and it is measured from the build date, not from the day the vehicle was first registered here.
Your own position still counts in the usual way: time trading, account conduct, and how income is shown. For how the lender types differ on an ordinary single vehicle, see where ABN holders get a car loan. If an import has already been knocked back, the declined vehicle and equipment finance guide covers the next steps. If you have not bought yet, you can check eligibility before you commit to a vehicle overseas.
Why does the import approval and compliance usually come before settlement?
The import approval and compliance usually come before settlement because a lender needs a registered, identifiable, insurable vehicle to secure the loan against, and an import is none of those until the process is finished. The department's page states that an import approval is needed before the vehicle arrives in Australia (Road Vehicle Standards Act 2018, section 22), and that an application can take up to 60 business days to assess. In plain terms: approval before it ships.
That is the structural gap most buyers miss. If the vehicle is purchased and shipped before the approval is granted, the timeline is no longer in your hands, and neither is the finance. A lender will generally not settle against a vehicle that is at sea, sitting in a compliance workshop or waiting on plates.
| Step | What it involves | Why the lender cares |
|---|---|---|
| 1. Import approval | Applied for and granted by the department before the vehicle arrives. | Without it the vehicle may not be able to be complied or registered at all. |
| 2. Arrival and customs | Customs clearance, with duty and taxes paid at the border where they apply. | Shows the vehicle is cleared and the landed cost is known. |
| 3. Compliance | Any required work, typically by a registered automotive workshop, and entry on the RAV. | Confirms the vehicle is on the RAV and approved for the Australian market. |
| 4. Registration | Registered in your state or territory, in the name of the borrowing entity. | Gives the lender a registered vehicle and identifiers to secure. |
| 5. Insurance | Comprehensive cover from an insurer that accepts the vehicle, with the lender noted. | The security has to be insured from the day of settlement. |
| 6. Valuation | A guide value or an independent valuation the lender accepts. | Sets the amount the lender will advance. |
| 7. PPSR and history checks | A clear register search in Australia, plus overseas history where it can be obtained. | Confirms nobody else holds an interest in the vehicle. |
Sources: Department of Infrastructure, Importing a road vehicle into Australia, for steps 1 and 3. Read 13 November 2026. The remaining steps reflect general lender practice and vary by lender.
| Stage | Order that settles | Order that stalls |
|---|---|---|
| Approval | Import approval granted before the vehicle ships | Vehicle bought and shipped before approval |
| Paying the seller | Purchase and landing costs funded and documented from cash or another facility | Loan expected to pay the overseas seller |
| Compliance and registration | Vehicle complied and registered in the business name | Registration in a personal name that does not match the borrower |
| Valuation | Guide value or independent valuer lined up in advance | No valuation source for the model |
| Insurance | Insurer confirmed for the model and business use before purchase | Insurance left until the plates arrive |
Where the vehicle has already been paid for, some lenders can fund it after registration by lending against a vehicle the business now owns, which releases the cash you used. Whether that is available, and how soon after purchase, varies by lender. Our sale and leaseback guide explains the principle.
How are converted right hand drive pickups financed?
Converted right hand drive pickups are financed on the strength of who did the conversion and how well the result is supported in Australia. Lenders draw a line, in principle, between two kinds of vehicle that can look identical in a car park.
- Factory-backed remanufacture. The vehicle is converted locally in volume under an arrangement with the manufacturer, sold through a dealer network and carries a manufacturer-backed warranty. Lenders typically treat these much like any other new vehicle, and valuation guides tend to list them.
- Independent conversion. The vehicle is imported and converted by an independent workshop, often one at a time. Quality, warranty and parts support depend on that workshop, resale is narrower, and lenders are more cautious as a result.
Weight is the second issue. A large pickup can sit at a gross vehicle mass where payload, towing and even the licence class needed to drive it change, and that affects who can use it in the business and how a lender classes it. The commercial vehicle tiers post covers how lenders sort vehicles by size, and the payload and tow ball post covers the weight questions.
Price is the third. Many of these vehicles are expensive enough for the car limit and luxury car tax to come into the picture; the luxury car finance post explains how those work.
What does importing a vehicle cost a business before finance?
Importing a vehicle costs a business the overseas price plus a run of charges that are paid before any lender is involved, which is why the landed cost is the real price. The purchase price you see advertised overseas is only the first line.
| Cost | What it is | Who charges it | Can a GST registered business claim it? |
|---|---|---|---|
| Customs duty | A duty on imported goods, depending on the vehicle and where it comes from. | Collected at the border. | Typically not as a GST credit. Ask your accountant how it is treated in the cost of the vehicle. |
| GST at importation | GST on the value of the imported vehicle, generally including freight, insurance and duty. | Collected at the border. | Typically yes, to the extent of business use and subject to the car limit. Confirm with your accountant. |
| Luxury car tax, where it applies | A tax on cars above a value threshold. | Collected at the border on import. | Typically no. |
| Compliance | Workshop modifications, testing and RAV entry. | The workshop or compliance provider. | Typically the GST in the workshop's invoice, where the vehicle is for business use. |
| Registration | Inspection, registration and compulsory third party cover. | Your state or territory road authority and CTP insurer. | Varies by item. Much of it carries no GST. |
| State duty | Motor vehicle duty on registration or transfer. | Your state or territory. | Typically no. It carries no GST. |
State duty differs from one state and territory to the next, so where the vehicle is first registered changes the total; the interstate purchase post covers buying and registering across a border. Shipping, marine insurance, port charges and an agent's fee sit on top of the table above.
Two finance points follow. First, a lender advances against what the vehicle is worth here, not against what it cost you to land, and the two can be a long way apart. The same gap is explained for equipment in our post on landed cost against valuation. Second, how GST, duty and luxury car tax are treated in your books is a question for your accountant before you buy, not after.
What checks should you run before finance settles on an imported vehicle?
The checks to run before finance settles on an imported vehicle are the ones you would run on any used vehicle, plus a second set that only imports need. Check it like a used car, then check it again.
- Insurance first. Confirm an insurer will write comprehensive insurance on the exact model for business use before you commit. Not every insurer covers grey imports, and a lender will not settle without cover.
- PPSR search. Run a PPSR search on the vehicle's identifiers once it has them here. Our post on PPSR checks for vehicle finance explains what the search does and does not show.
- Overseas history. The Australian register knows nothing about the vehicle's life before it arrived. Ask for auction sheets, export certificates or service records from the country of origin where they exist.
- Odometer and condition. Have the reading and the condition verified independently. A lender's valuer will form a view of both.
- Paperwork trail. Keep the import approval, customs documents, compliance evidence and rego papers together. The lender will ask for them.
- Parts and service support. Check who can service the vehicle and how long parts take. A work vehicle that waits weeks for a part costs more than the repair.
The discipline is close to buying unseen at auction, where the buyer carries the risk of what was not checked. Our post on buying a car at auction with an ABN car loan works through that side of it.
Imported vehicle finance is available to self-employed buyers, but it runs in a different order to a local purchase. The import approval comes before the vehicle ships, compliance and registration come before the lender, and the amount a lender advances follows the Australian valuation, not the landed cost. Lender appetite narrows as vehicles get older, rarer or independently converted, and widens when the model is known, listed and insurable.
Key takeaway: talk to a broker before you buy overseas, so the approval, the cash needed to land the vehicle and the lender that will fund it afterwards are settled in that order.Frequently Asked Questions
You can get car finance for an imported car once it is complied, registered in Australia and able to be valued, although fewer lenders will consider it than a locally delivered vehicle. Major banks typically decline grey imports, while non-bank lenders and specialist funders assess them case by case, often with a deposit. Our ABN car loan guide covers how the loan itself is assessed for a self-employed buyer.
Grey imports in Australia are typically insured by specialist and enthusiast vehicle insurers, and by some general insurers that accept them on a model by model basis. Cover for business use is narrower again, so confirm the insurer will write comprehensive insurance for the way you will actually use the vehicle. An insurance broker can usually find a market faster than ringing insurers one at a time.
The 25 year rule for car imports in Australia refers to the department's concession for vehicles more than 25 years old, which are among the vehicles that may be eligible for a concessional entry approval onto the Register of Approved Vehicles. The vehicle still needs an import approval, and it still has to be registered in your state before you hold rego papers a lender can rely on. Whether a specific vehicle qualifies is decided by the department.
Financing an imported vehicle before it arrives in Australia is uncommon, because a secured vehicle loan such as a chattel mortgage needs a registered vehicle the lender can identify, insure and value. Most buyers fund the overseas purchase, shipping and compliance from their own cash or another facility, then finance the vehicle once it is registered. Whether a lender will fund it after the event, and how soon, varies by lender.
Lenders do finance grey import utes and vans for business in some cases, mainly non-bank lenders and specialist funders working under an asset finance policy. The model needs a local resale market and a value the lender accepts, and the vehicle has to be complied and registered first. Expect tighter terms than a locally delivered work vehicle, typically a deposit, a shorter term or no balloon.
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