Truck & Heavy Vehicle Finance Calculator NZ 2026

This calculator works out the cost of financing a truck or heavy commercial vehicle in New Zealand, from a courier van or tipper to a furniture truck or a line-haul unit. Commercial vehicle finance follows the same repayment maths as a car loan, but the numbers are bigger and a few extras matter, so this tool is built around them. You enter the GST-inclusive price, your deposit or trade-in, the interest rate, the term in years and any balloon or residual payment, and it returns the monthly repayment, the balloon due at the end, the total interest over the term and the total amount repaid. Because a truck is usually a business asset, the calculator also shows the GST content of the purchase, three twenty-thirds of a GST-inclusive price, which a GST-registered business can generally claim back in its next return, easing the cash-flow hit of a large purchase. A balloon is common on commercial finance because it lets you match repayments to the income the vehicle earns, keeping monthly payments lower while the truck is working hardest, with a lump sum settled when you sell, trade or refinance at the end. The trade-off, as with any loan, is more total interest, which the calculator makes clear. It suits owner-operators, transport and trades businesses, and anyone budgeting a fleet addition or comparing a dealer quote against a bank or finance company. Treat the result as an estimate for planning and comparison: your lender's documentation, establishment fees, and any insurance or maintenance package will determine the final cost, and your accountant should confirm the GST and tax treatment for your business.

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$1,783
monthly repayment
Balloon due at end$20,000
Total interest$26,979
Total repaid$126,979
GST claimable$15,652

GST claimable is 3/23 of the GST-inclusive price for a GST-registered business using the vehicle for taxable activity. An estimate; fees not included. Confirm tax treatment with your accountant.

How it works

The amount financed is the price less your deposit. The monthly rate is the annual rate divided by 12 and the number of payments is the term in years times 12. The repayment is set so the loan, less the present value of the balloon, is cleared over the term, leaving the balloon owing at the end. Total interest is all repayments plus the balloon, less the amount financed. GST claimable is the GST-inclusive price times 3 divided by 23.

Worked example

A $120,000 truck with a $20,000 deposit means $100,000 financed at 8.5 percent over 5 years, with a $20,000 balloon. The repayment is about $1,783 a month, with $20,000 due at the end. Total interest is about $26,979 and total repaid about $126,979. A GST-registered business could claim about $15,652 of GST (120,000 times 3/23) in its next return.

Related calculators

Data sources: the rates and thresholds on this page are maintained against Inland Revenue. Figures are checked twice monthly.

Frequently asked questions

How is truck finance different from a car loan?

The repayment maths is the same, but commercial vehicle finance often runs over longer terms, uses a balloon tied to expected resale, and the vehicle is usually a business asset. A GST-registered business can also claim the GST on the purchase, which improves cash flow in the first return.

Can I claim GST on a truck I finance?

If you are GST registered and the vehicle is used for taxable business activity, you can generally claim the GST content of the purchase price, regardless of how it is financed. This calculator shows the GST portion, which is three twenty-thirds of a GST-inclusive price. Confirm your entitlement with your accountant.

Should I use a balloon on truck finance?

A balloon lowers monthly repayments and can match the payment to the income the truck earns, but it increases total interest and leaves a lump sum at the end. Keep the balloon below the truck's likely resale value so you can clear it by selling, trading or refinancing.