Ute Finance

Your guide to getting the right ute finance.

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Find the best Ute Finance for you with Emu MoneyFind the best Ute Finance for you with Emu Money

A quick guide to ute finance

Ute finance provides individuals with the opportunity to own a versatile vehicle that combines the benefits of a car and a small truck. Whether you need a ute for work purposes, off-road adventures, or simply to accommodate your active lifestyle, ute finance can help make it a reality. With flexible financing options, you can secure a loan to purchase a new or used ute, tailored to your budget and repayment preferences. Ute finance allows you to enjoy the benefits of owning a reliable and practical vehicle that can handle various tasks, whether it's transporting equipment, towing trailers, or navigating challenging terrains. Explore the available options and choose the ute finance solution that suits your needs, empowering you to embark on your next adventure or enhance your business operations with a reliable and capable ute.

Here's what ute finance typically looks like:

eligibility orange tickBorrow from $5,000
eligibility orange tickLoan terms from 1 - 7 years
eligibility orange tickWeekly, fortnightly or monthly repayments
eligibility orange tickFixed interest rates from 5.29%
eligibility orange tickVariable interest rates from 5.74%
eligibility orange tickInterest rate tailored to your situation

What can I use ute finance for?

With ute finance, you can access the funds needed to purchase a versatile vehicle that suits your needs. Whether it's for work purposes, off-road adventures, or simply to accommodate an active lifestyle, ute finance provides the means to own a reliable and practical vehicle capable of handling various tasks.

Here are some common reasons people take out ute finance:

Work Vehicle

Ute finance is often used to purchase a work vehicle that can transport tools, equipment, and supplies for tradespeople and small business owners.

Off-Road Adventures

Utes are popular for off-road enthusiasts, and ute finance can help fund the purchase of a vehicle capable of tackling rugged terrains and outdoor adventures.

Recreational Activities

Whether it's camping, fishing, or other recreational activities, a ute financed through ute finance provides the space and versatility needed to carry gear and equipment.

Towing and Hauling

Utes are ideal for towing and hauling heavy loads, making them a popular choice for individuals who require a vehicle with strong towing capabilities for trailers, boats, or caravans.

Farming and Agriculture

Farmers and individuals in the agricultural industry often use ute finance to purchase vehicles that can assist with farm work, such as transporting livestock, machinery, or farm supplies.

Trade and Construction

Tradespeople and construction workers often rely on utes for transporting tools, materials, and equipment to job sites, making ute finance an essential option for acquiring a suitable work vehicle.

Family Vehicle

Utes can serve as practical family vehicles, providing ample space for passengers and cargo. Ute finance can help families acquire a reliable and spacious vehicle for daily use.

Outdoor Recreation

Utes are popular among outdoor enthusiasts who enjoy activities like biking, kayaking, and surfing. Ute finance can enable the purchase of a vehicle that accommodates outdoor gear and equipment.

Small Business Needs

Small business owners may utilise ute finance to acquire vehicles that support their specific business needs, such as delivery services, mobile services, or equipment transportation.

Commercial Use

Utes can be used for various commercial purposes, such as trades services, courier and delivery services, or mobile businesses. Ute finance enables individuals to obtain vehicles for commercial operations.

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How much can I borrow for ute finance?

When it comes to obtaining ute finance in Australia, the amount you can borrow will depend on several factors. Lenders typically consider your income, credit history, and financial stability to determine the loan amount. Additionally, the value of the ute you intend to purchase and the loan term will also impact the borrowing capacity. Generally, lenders offer ute finance ranging from a few thousand dollars up to $100,000 or more. However, the actual amount you can borrow will vary based on individual circumstances. It's important to note that some lenders require a deposit, which can be a percentage of the purchase price. The size of the deposit can influence the loan-to-value ratio and borrowing capacity.

The interest rate for ute finance can also vary depending on factors such as your creditworthiness and the lender's policies. The loan term can range from a few years to several years, allowing borrowers to spread out repayments over a manageable period. It's crucial to consider your budget, income, and repayment capabilities before determining the loan amount. Borrowing responsibly and within your means is essential to avoid financial strain. Additionally, be mindful of other costs associated with owning a ute, such as insurance, registration, and ongoing maintenance. Ultimately, understanding your personal financial situation and assessing the loan options available will help you determine the appropriate borrowing amount for your ute finance needs.

Ute Finance Repayment Calculator

To estimate your monthly repayments and the total cost of the loan, input the loan amount, loan term and interest rate into the calculator below. This helps you plan your budget and choose the most suitable loan terms.

Loan Amount
Establishment Fee
Loan Term (Years)
Interest Rate
Total amount to repay
Your repayments

Balance over time

Am I eligible for ute finance?

Lenders consider several factors when assessing your eligibility, including your credit score, income, debt-to-income ratio, age, residency, and required documentation. While meeting the eligibility criteria doesn't guarantee loan approval, having a good credit score, stable income, and a positive financial profile significantly improve your chances.

You are eligible to apply for a ute finance if you are:

eligibility orange tickOver the age of 18; and
eligibility orange tickAn Australian citizen or permanent resident; and
eligibility orange tickHave a regular source of income, that is enough to meet the repayments

How to apply for ute finance?

Applying for ute finance is easy and only takes a few minutes. Get started by filling out some basic information into our application form. We’ll review your information, and someone will be in contact with you to discuss the best option for you from over 40+ Australian lenders.

If you’re eligible for ute finance, and you are happy with the initial quote, you will need to prepare documents such as:

eligibility orange tickPassport or drivers licence
eligibility orange tickProof of income and expenses (e.g. payslips, bank statements)
eligibility orange tickDetails of any current debts or other loans

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How to get the best ute finance for you?

When searching for ute finance, it's essential to understand the different factors to find the best fit for your needs. From interest rates and fees to loan terms and early payout options, each factor can increase or descrease the total amount you will repay.

Interest Rate

When seeking ute finance, it's crucial to pay attention to the interest rate. A lower interest rate means you'll pay less over the loan term. It pays to research and compare rates from different lenders to ensure you secure the best possible rate that aligns with your financial circumstances.


In addition to interest rates, it's essential to consider the fees associated with ute finance. These may include application fees, ongoing fees, and early repayment fees. Assess these costs and opt for a loan that offers competitive fees, ensuring you don't incur unnecessary expenses throughout the loan duration.

Comparison Rate

Comparison rates provide a more comprehensive understanding of the overall cost of a loan by factoring in both the interest rate and any associated fees. When comparing loan options, look beyond the interest rate and consider the comparison rate to make a more accurate assessment of the total cost of borrowing.

Loan Term

Consider the loan term or repayment period that best suits your financial situation. Shorter loan terms may involve higher monthly repayments but result in lower overall interest paid. Longer loan terms may offer lower monthly payments but result in higher interest paid over time. Choose a loan term that strikes the right balance between affordability and minimising interest costs.

Balloon Payment

Some ute finance offer the option of a balloon payment, which is a larger lump sum due at the end of the loan term. While balloon payments can lower your monthly payments during the loan term, they require careful planning. Assess your financial capacity to make the final payment or explore alternatives, such as refinancing or selling the vehicle, before committing to a loan with a balloon payment.

Early Payout

It's crucial to check whether the ute finance allows for early repayment without penalty. This feature provides flexibility and the opportunity to save on interest costs by paying off the loan sooner. Opting for a loan that allows early payout can help you become debt-free faster and potentially reduce the overall cost of borrowing.

Find the best Ute Finance for you with Emu MoneyFind the best Ute Finance for you with Emu Money

Frequently Asked Questions

Still have questions about ute finance?

These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below.

What is a ute finance?
How do ute finance work?
What types of vehicles can I finance with a personal vehicle loan?
What factors affect the loan amount I can borrow?
How long is the repayment period for a ute finance?
What interest rates can I expect for a ute finance?
Can I get a ute finance with bad credit?
What documents do I need to apply for a ute finance?
Should I get pre-approved for a ute finance?
Can I refinance my existing ute finance?
What happens if I can't make my loan payments?
Can I pay off my loan early?
Can I use a ute finance to buy a used car?
What happens if I sell my vehicle before the loan is paid off?
Is it possible to get a ute finance with no down payment?