Finance an electric or plug-in hybrid ute for your business with help comparing suitable options across more than 60 lenders. Woodward Finance works with established Australian businesses, tradies, fleets and commercial operators looking to finance eligible work vehicles.
Yes. Eligible businesses can finance battery-electric and plug-in hybrid utes, subject to lender policy and approval. The lender will usually consider the vehicle, purchase price, business use, trading history, credit profile and overall strength of the application.
Electric and plug-in hybrid utes are becoming a more realistic option for Australian businesses. They can suit a range of commercial uses including construction, mining, trades, fleet, service businesses and regional operators.
Woodward Finance can help assess suitable finance options for eligible new and used electric or electrified utes, depending on the vehicle and lender policy. If you’re comparing a second-hand vehicle with buying new, see our New vs Used Electric Vehicle Finance guide.
Work utes for electricians, plumbers, builders, landscapers, contractors and other trade businesses.
Commercial vehicles used on worksites, projects and day-to-day business operations.
Single vehicles or fleet purchases for established businesses looking to electrify part of their vehicle mix. Businesses purchasing multiple EVs can also explore our EV Fleet Finance guide.
The Australian work-ute market now includes both fully electric and plug-in hybrid models. The exact vehicle matters because lenders may assess different makes, models and purchase prices differently.
Toyota’s battery-electric HiLux has been developed with fleet, mining and business users in mind, making it particularly relevant to commercial finance scenarios.
The KGM Musso EV gives Australian businesses another battery-electric dual-cab ute option to consider for commercial and fleet use.
The current Ranger Hybrid range includes commercial and higher-spec variants, giving businesses another electrified work-ute option.
The BYD Shark 6 is a plug-in hybrid ute available in multiple configurations, including a cab-chassis option suited to commercial use.
The Cannon Alpha PHEV adds another electrified ute option for businesses considering plug-in hybrid work vehicles.
The LDV eT60 is an established battery-electric ute nameplate and may be considered by businesses looking for a fully electric work vehicle.
Vehicle availability, specifications and lender appetite can change. Finance should always be assessed against the specific ute being purchased.
Electric ute finance is still assessed as business asset finance, but newer technology and higher purchase prices can make lender selection particularly important.
Some established businesses may qualify for lower-documentation asset finance. Eligibility and documentation requirements vary by lender and application.
Different lenders can take different approaches to the same ute and the same business. Comparing lender policy as well as pricing can be especially important when financing newer electric or plug-in hybrid work vehicles.
For many business ute purchases, a chattel mortgage may be considered because the vehicle is being purchased for business use.
Other finance structures may also be available depending on the lender, borrower and transaction. The appropriate option should be assessed against the business’s intended use, cash flow and broader financial position.
Tax outcomes can vary depending on the business and structure, so businesses should obtain their own advice from a qualified accountant or tax adviser.
Send us the make, model, purchase price, seller and intended business use.
We assess the vehicle and your business profile against suitable lender policies.
We compare suitable lenders, structures and requirements for the transaction.
We package and submit the application with the information required by the chosen lender.
We manage lender conditions and keep you informed throughout the approval process.
Once requirements are complete, we coordinate settlement so you can take delivery of the ute.
Yes, subject to lender approval. Electric and plug-in hybrid utes may be financed as business vehicles where the transaction meets lender policy.
Potentially, yes. The HiLux BEV is particularly relevant to fleet, mining and business use. Approval will depend on the business, purchase price and lender policy.
Potentially. The BYD Shark 6 is a plug-in hybrid ute and may be eligible for business vehicle finance, subject to the lender and application.
Yes, subject to lender policy and approval. The lender will typically assess the vehicle, business use, purchase price and overall application strength.
Some established businesses may qualify for lower-documentation asset finance. Eligibility depends on factors such as time in business, loan amount, asset type, credit profile and lender requirements. For a broader explanation, see our EV finance requirements guide.
Potentially. Used electric ute finance may be available depending on vehicle age, value, condition and lender appetite. See our New vs Used Electric Vehicle Finance guide for more detail.
Not necessarily. Deposit requirements vary between lenders and applications. Some businesses may qualify for a high level of finance, while other transactions may require a contribution.
Not always. Both may be assessed under commercial vehicle or asset-finance policies, but individual lender appetite, purchase price and asset type can affect the available options. Our Electric vs Plug-In Hybrid Utes guide explains the broader business and finance considerations.
Available terms vary depending on the lender, vehicle and applicant. Vehicle age, purchase price and the business profile can all influence the available term.
Yes, subject to lender approval. Sole traders may be eligible for business vehicle finance where they meet the lender’s trading, credit and documentation requirements.
Whether you’re replacing an existing work ute, purchasing your first electric commercial vehicle or adding an electrified ute to your fleet, Woodward Finance can help compare suitable finance options. Businesses planning multiple vehicle purchases can also read our EV Fleet Finance guide.
Reviewed September 2026 by Kim Woodward, Director, Woodward Finance.
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