The short version
Here's what Australia's 5 most popular work utes cost per week on finance:
- Mitsubishi Triton GLX: $204 a week
- Isuzu D-MAX SX: $219 a week
- Toyota HiLux WorkMate: $230 a week
- Ford Ranger XL: $234 a week
- BYD Shark 6 Premium: $241 a week
The cheapest is $37 a week less than the dearest. Over 5 years, that's more than $11,000.
How we got these numbers
We used the same loan for every ute, so the only thing that changes is the ute.
- We financed the full drive-away price. That includes rego, stamp duty and dealer delivery.
- No deposit.
- 5 years, paid weekly.
- A 20% balloon. That's a lump sum you pay at the end. It keeps your weekly repayment down.
- A rate of 8.73% p.a.
Four of the utes are 4x4 single-cab work models. The Shark 6 only comes as a dual-cab, so we used the Premium.
These numbers are a guide, not a quote. Your rate will depend on your business and the ute you buy.
What you pay back in total
Here's what each ute costs you over the full 5 years.
| Ute | Drive-away | Per week | Total paid back |
|---|---|---|---|
| Mitsubishi Triton GLX | $48,990 | $204 | $62,838 |
| Isuzu D-MAX SX | $52,461 | $219 | $67,432 |
| Toyota HiLux WorkMate | $55,178 | $230 | $70,836 |
| Ford Ranger XL | $56,200 | $234 | $72,080 |
| BYD Shark 6 Premium | $57,900 | $241 | $74,240 |
The total is all your weekly repayments, plus the balloon at the end. The interest is already in it.
Here's the Ranger as an example:
- $234 a week for 260 weeks is $60,840.
- Add the balloon of $11,240.
- You pay back $72,080 in total.
The Ranger costs $56,200. So you pay about $15,900 in interest over the 5 years.
What each ute is good at
1. Mitsubishi Triton GLX: cheapest to buy
The Triton is the cheapest ute on this list. It has a 2.4L bi-turbo diesel and tows up to 3.5 tonnes. If you service it at a Mitsubishi dealer, you can get up to 10 years of warranty.
2. Isuzu D-MAX SX: cheap to run
The D-MAX has a 3.0L diesel and tows 3.5 tonnes. It comes with a 6-year warranty. Lots of fleets run them because they're tough and cheap to keep on the road.
3. Toyota HiLux WorkMate: holds its value
The new HiLux has a 2.8L turbo diesel and tows up to 3.5 tonnes. HiLuxes hold their value well, so you get more back when you sell. And there's a Toyota dealer in almost every town.
4. Ford Ranger XL: good all-rounder
The Ranger was designed in Australia and is one of the country's best sellers. It has a 2.0L bi-turbo diesel, a 10-speed auto, and tows up to 3.5 tonnes.
5. BYD Shark 6 Premium: saves on fuel
The Shark 6 is a plug-in hybrid. It can drive up to 100km on battery alone, so short trips use very little fuel. You can also plug your power tools into it. It tows 2.5 tonnes, which is less than the others, so check it can pull your trailer.
The balloon: plan for it
The 20% balloon keeps your weekly repayment lower. But you still have to pay it at the end.
On these utes, the balloon is between $9,800 and $11,600.
When it's due, you can:
- Pay it off and own the ute.
- Refinance it into a new, smaller loan.
- Sell or trade in the ute and use the money to pay it off.
If your ute is worth more than the balloon, selling it pays the balloon off and you keep the rest. Read more in our guide to balloon payments.
Don't want a lump sum at the end? Set the balloon to zero. Your weekly repayment goes up, but the ute is yours when you make the last payment.
Work out your own numbers
Your loan might look different. You might put money down, trade in your old ute, or pick a shorter term.
Use our asset finance calculator to try your own price, rate, term and balloon. It shows a monthly repayment. For a rough weekly figure, times it by 12, then divide by 52.
Buying a ute through your business
Most tradies buy their ute through their business with a chattel mortgage. Your business owns the ute from day one. The lender holds it as security until the loan is paid off.
Two things worth knowing:
- If you're registered for GST, you can usually claim back the GST on the ute on your next BAS.
- The ATO doesn't count a ute that carries one tonne or more as a car. That means the car limit on depreciation doesn't apply. Most single-cab work utes carry over a tonne. The ATO explains this on its page about business motor vehicle deductions.
Check with your accountant before you buy.
For a car that you or a staff member will drive, compare a business car loan with a novated lease.
For more on financing tools, trailers and vans, read our guide to asset finance for tradies. New to all this? Start with what asset finance is.
Talk to us
The ute you pick changes your weekly cost. So does your loan. A better rate can save you as much as a cheaper ute.
We compare lenders for you and find the loan that fits your business. See how our asset finance works, or apply online and we'll send you real numbers.
These figures are a guide only. They're based on the full drive-away price, financed over 5 years with a 20% balloon at 8.73% p.a., paid weekly. Drive-away prices change by state and dealer. For business use only. Subject to lender approval. Fees and charges apply.