As an owner driver you have the capacity to work with your own vehicle and/or equipment to generate income. The vehicle and/or equipment is classified as a "Profit Generating Asset". 

There are many industries that require owner drivers on a frequent basis. This includes delivery services, freights, earth moving, and so much more. 

Being an owner driver is different from working as an employee. As an employee, your employer will generally provide you their equipment to carry out work on their own terms. On the other hand, as an owner driver you have the autonomy to work as much as you please. This opens up more opportunities to earn more income and meet your future financial goals faster.


It is also common for owner drivers to work for multiple sources to diversify their revenue supplies. This provides you the additional freedom to allocate your time as you see fit.

Important considerations for Owner Drivers

Starting a new venture is an adventure in itself. It is important to get the small steps right so the big picture falls into place. Here are some steps involved in getting the finance sorted and ready to go.:


You have an active ABN 

  • As a subcontractor it is a minimum requirement for you to operate through your own ABN.

  • This can be as a sole trader or as a company where you are the sole director.

  • Partnerships are acceptable where all the parties are involved in the business.


Your background and experience 

  • Are you experienced in the work that you will be engaging in? 

  • Any previous work or industry experience is highly regarded in your favor. The more work experience the better. 

The work lined up to generate income

  • Have you engaged a work source and solidified your rate of pay? 

  • We always recommend a work source letter or contract which states your work terms.

  • This will be highly regarded in supporting finance approval and is relied upon for income verification as an owner driver. In most instances, this is a mandatory requirement for lenders.

Your overall expenses of your new equipment

  • The flip side of your income are your expenses. This includes future loan repayments and running costs.

  • Your main operating costs includes fuel, vehicle maintenance, registration costs, etc.

The most suitable finance product for you

  • Every finance product has different tax implications which you can take advantage of. Your tax savings will be largely dependent on the finance product itself.

  • We are more than happy to chat about the pros and cons as each product varies more or less depending on the particular asset sought.

Whilst we always recommend securing finance approval first, we are happy to run through the above to ensure that we pave the way to success for your owner driver venture. 

So What is Required to get Approved?

To take the first step in turning your dreams turn to reality, apply now and you will be in contact with one of our finance specialists.

Click the below button to apply now.

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