eligibility
Can I get asset finance for a used vehicle or used equipment?
Short answer
Yes. AssetMX finances used vehicles and equipment from $5,000 to $500,000, provided the asset will be no older than 15 years at the end of the loan term and is used for business purposes. The same low-doc eligibility applies as for new assets.
Last reviewed 8 September 2026 by AssetMX.
Direct answer
Used vehicles and equipment are financed on AssetMX the same way as new ones, from $5,000 to $500,000, as long as the asset will be no older than 15 years at the end of the finance term and is used for business purposes. This makes low-doc finance available for a wide range of second-hand trucks, utes, trailers and equipment, not just new purchases.
The age rule explained
The 15-year limit is measured at the end of the term, not at settlement. A 10-year-old truck financed over a 3-year term will be 13 years old at the end of the loan, which fits within policy. The same truck financed over a 7-year term would be 17 years old at the end, which does not fit. Choosing a shorter term is often the way to make an older asset work within lender policy.
Eligibility is the same as for new assets
Whether the asset is new or used, the standard low-doc criteria apply:
- ABN active for 24 or more months
- GST registered
- At least one director or guarantor
- Asset no older than 15 years at end of term
- Business use of the asset
See low-doc asset finance requirements for the full detail.
Dealer vs private sale
Buying a used vehicle or piece of equipment from a licensed dealer is the most straightforward path, using a standard dealer invoice. Buying from a private seller is also possible, but the asset may need an inspection, which carries a $250 fee, and you will need a contract of sale rather than a dealer invoice. See private sale asset finance for what to expect.
Structuring the finance
Used vehicles and equipment can typically be financed under a chattel mortgage, where your business owns the asset from settlement. Compare this against a finance lease at chattel mortgage vs finance lease.
Where to next
Get an indicative quote for a used asset from the home page, or check equipment finance for equipment-specific detail.
This is general information only and does not take your circumstances into account. It is not financial, tax or legal advice.
Related questions
What is the age limit on financed vehicles and equipment?
The asset must be no older than 15 years at the end of the loan term, not at the start. A shorter term can allow an older asset to qualify.
Does buying from a private seller change anything?
It can. A private-sale asset may need an inspection, which carries a $250 fee, and you will need a contract of sale rather than a dealer invoice.
Can I finance equipment for mixed personal and business use?
The asset needs to be for business use. Business use under 50% may affect the rates and terms available.
Ready? Three questions, then we take it from there.
One flat $800 fee, disclosed before you start. Nothing touches your credit file until you say so.
Trading 2+ years · Clean credit · Vehicles, trucks or equipment for business use