NAB Vehicle & Equipment Finance
- Upfront Fee
- $600 initial set up fee
- Max. Loan Amount
- $150,000
- Loan Term
- 1 to 5 years
Summary
Borrow up to $150,000 for your business vehicles and equipment. Upfront fees and interest charges apply.
NAB’s business vehicle and equipment loan has a minimum loan amount of $10,000 up to $150,000. This loan is secured against the asset, no other personal or business assets are needed as security. The interest rate is fixed, which means that your repayments will not change on a monthly basis. This makes it easier to budget. The interest rate starts from 7.49% p.a. This rate is applicable only for cars, utes or vans. You can get an online quote to find out what you can borrow and what it will cost. The interest rate will also be outline in the quote. This there is no upfront deposit or monthly fee, there is an initial set up fee of $600.
Details
Product details
| Product Name | NAB Vehicle & Equipment Finance |
| Min. Loan Amount | $10,000 |
| Max. Loan Amount | $150,000 |
| Loan Security | Secured |
| Upfront Fee | $600 initial set up fee |
| Loan Term | 1 to 5 years |
How does the NAB Vehicle & Equipment Finance work?
A NAB Vehicle & Equipment Finance is a speciality business loan designed to help Australian businesses fund their next vehicle or equipment purchase. If you finance a car, ute or van you can benefit from a low fixed rate from 7.49% p.a.
With no deposit required for loan amounts up to $150,000, businesses can have the convenience of a fixed interest rate with a loan term of up to 5 years.
Features of NAB Vehicle & Equipment Finance
A NAB Vehicle & Equipment Finance include the following features:
- Fixed interest rate. Interest rates start at 7.49% p.a. for cars, utes or vans. The rate is fixed for the life of the loan, making it easier to budget for the ongoing loan repayments.
- No deposit. $0 deposit is required for loan amounts up to $150,000.
- Flexible loan term. You can choose a loan term from 1 to 5 years, allowing you to spread out the cost of your vehicle or equipment purchase over its useful life.
- Fast online quote and application. Speed up the online application process by filling in the details of the equipment or vehicle you're planning to purchase and receive a quote, including the applicable interest and amount of the ongoing loan repayments.
- Secured by the asset itself. A NAB Vehicle & Equipment Finance is secured by taking a mortgage out on the asset itself, with no other personal or business assets needed as security for the loan.
- Transparent upfront fees and no ongoing fees. When you generate your personalised online quote, you'll find out the initial set-up fee applicable to your loan. All loans attract $0 in ongoing fees.
How much does the loan cost?
The following costs apply to this loan:
- $600 application fee
- $0 monthly fee
- Interest rate from 7.49% p.a. when you finance a car, ute or van
How to apply for the NAB Vehicle & Equipment Finance
If you're ready to apply for a loan, you can start the online application process by clicking "Go to Site" above. You'll need to organise the purchase of the vehicle or equipment and provide the final invoice to NAB. Then you can sign the loan documents.
Once the vehicle or equipment is ready for collection, NAB will pay the supplier directly within 24 hours. The equipment will belong to your business, with NAB taking out a mortgage over the equipment to secure the loan.
Before you apply, check that you satisfy NAB's eligibility requirements below and have all the required documents at hand before you start. Then, simply click "Go to Site" on this page to start the simple online application.
Eligibility criteria:
- Your business has a valid Australian Business Number (ABN)
- The vehicle or equipment purchased to be used primarily for business purposes.
Have the following paperwork at hand when you apply:
- Your business's financial information provided in a PDF or CSV file, or via secure online access through MYOB or Xero.
- Business information from your ATO portal.
- Details and ID documents for directors and major shareholders.
- An invoice from the equipment or vehicle seller made out to your business.
- Bank account details to arrange direct deposit of loan repayments.
For deposit-free vehicle and equipment finance secured by the asset itself, a NAB Vehicle & Equipment Finance could be an excellent option. As with any other loan product, take the time to compare your options to ensure you choose the option that's right for you.
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