# UDC Finance review: business vehicle, truck and equipment finance

> UDC Finance lends New Zealand businesses up to 100% of the price of vehicles, trucks, plant and equipment, with answers within 24 hours on loans up to $150,000. Here's what it offers, what it costs and how it compares.

By Jason Dark, last checked 2026-11-06. Part of [Lenders](https://smallbusinessloan.co.nz/lenders) on Skipper.

## The short version

- UDC Finance has lent to New Zealand businesses since 1937 and specialises in vehicles, trucks, plant and equipment.
- UDC can finance up to 100% of the price, and your trade-in can be the deposit.
- UDC usually gives you an answer within 24 hours on loans up to $150,000, once it has your financial statements.
- UDC doesn't publish its business rates, and repaying early costs a fixed fee plus break costs.

## Is UDC Finance a good option for your business?

UDC Finance suits a business that's buying a vehicle, truck, machine or other equipment and wants to use that asset as security. UDC has lent to New Zealand businesses since 1937 and has specialist teams for transport, civil construction, forestry, farming and aviation. UDC can finance up to 100% of the price and usually decides quickly. UDC doesn't publish its business rates, so you'll only know the cost once you have an offer.

## What UDC Finance lends

| Product | Amount | Term | Who qualifies | Security | Speed | Cost |
| --- | --- | --- | --- | --- | --- | --- |
| Business asset finance | Up to 100% of the price; from $5,000 for vehicles | Up to 5 years for vehicles, with seasonal or balloon payments | Businesses buying vehicles, trucks, plant or equipment; UDC asks for your financial statements | The asset you buy, sometimes your other assets; UDC may ask for a guarantee | An answer within 24 hours for loans up to $150,000, once it has your financial statements | Fixed or floating rates set on the strength of your application (not published); GST can be financed and repaid in month 3; early repayment has a fixed fee plus break costs |
| Creditline, Easylink and Assetlink | A pre-approved limit for several assets | Agreed upfront for each asset type | Businesses that buy, lease or replace assets often, or run fleets | The assets financed under the facility | Quick drawdowns once the facility is in place | Not published |

## What UDC needs from you

You can apply online or by phone. UDC will ask for your financial statements, and for loans up to $150,000, you'll usually get an answer within 24 hours. The asset you buy is usually the security, but UDC might also take security over your existing assets or ask for a guarantee. You can use your trade-in as the deposit.

## What UDC Finance costs

UDC sets your rate based on the strength of your application, and you can choose a fixed or floating rate. Repayments can be monthly, seasonal or include a balloon payment at the end. UDC can also finance the GST on the price, with repayment due in month 3. If you repay the loan early, you'll pay a fixed settlement fee plus a fee for breaking UDC's funding. Once you have an offer, use the [business loan calculator](https://smallbusinessloan.co.nz/tools/business-loan-calculator) to check your repayments.

## How UDC Finance compares

[Heartland](https://smallbusinessloan.co.nz/lenders/heartland) also specialises in trucks and heavy equipment, with rates from 8.70% a year and loans starting at $10,000. Banks offer asset finance too: [BNZ](https://smallbusinessloan.co.nz/lenders/bnz) from $5,000, [ASB](https://smallbusinessloan.co.nz/lenders/asb) and [Westpac](https://smallbusinessloan.co.nz/lenders/westpac) from $15,000, and [Kiwibank](https://smallbusinessloan.co.nz/lenders/kiwibank) from $20,000. The [asset finance guide](https://smallbusinessloan.co.nz/loans/asset-finance) compares all these options.

These details come from UDC's website, checked on 6 November 2026.

## Common questions

### Is UDC Finance a bank?

No. UDC Finance is a finance company that has lent to New Zealand businesses and individuals since 1937. UDC focuses on vehicles and business assets.

### How long does UDC take to approve a business loan?

UDC says it can usually give you an answer within 24 hours for loans up to $150,000, once it has your application and financial statements.

### Can I repay a UDC loan early?

Yes, but you'll pay two fees: a fixed fee for settling the loan and another fee for breaking the funding behind it.

## Sources

- [UDC: Business asset finance](https://www.udc.co.nz/for-business/business-asset-finance)
- [UDC: Flexible finance products](https://www.udc.co.nz/for-business/flexible-finance-products-for-your-business)
- [UDC: Business vehicle finance](https://www.udc.co.nz/for-business/vehicles)
- [UDC: Frequently asked questions](https://www.udc.co.nz/help-resources/faqs)