Headline finding — Q2 2026
The Asset Finance Help Rate Index estimates the indicative median rate for prime SME chattel mortgage at 6.76% p.a. in Q2 2026 — up 0.23pp QoQ and up 0.35pp YoY.
This reflects the RBA's third consecutive 25bp cash rate hike on 6 May 2026, taking the official cash rate to 4.35% and fully unwinding the 2025 easing cycle. Prime SME rates have moved at slightly above 1:1 with the cash rate this cycle, consistent with the RBA's October 2025 Small Business Bulletin observation that SME variable rates declined ~85bp during the 75bp easing cycle.
The index covers 12 segments — four structures (chattel mortgage, hire purchase, finance lease, operating lease) × three borrower tiers (prime, average, low-doc). The full Q2 2026 figures and eight-quarter history are below.
Download the data
The full index is available in two machine-readable formats:
- asset-finance-rate-index-q2-2026.csv — 96 rows, all 12 segments × 8 quarters
- asset-finance-rate-index-q2-2026.json — structured JSON including model parameters and source attributions
Both files are released under CC BY 4.0. Cite as: "Asset Finance Help Rate Index, Q2 2026, assetfinancehelp.com.au/research/asset-finance-rate-index/".
Q2 2026 indicative rates — all 12 segments
Rates shown are modelled indicative medians, not lender quotes. Each segment is the centre of a realistic market range — actual lender pricing for a specific application will vary above or below.
| Structure | Borrower tier | Q2 2026 rate (p.a.) | Q1 2026 rate | QoQ change | YoY change |
|---|---|---|---|---|---|
| Chattel Mortgage | Prime | 6.76% | 6.53% | +0.23pp | +0.35pp |
| Chattel Mortgage | Average | 9.00% | 8.75% | +0.25pp | +0.50pp |
| Chattel Mortgage | Low-doc | 12.24% | 12.08% | +0.16pp | +0.32pp |
| Hire Purchase | Prime | 7.04% | 6.81% | +0.23pp | +0.35pp |
| Hire Purchase | Average | 9.39% | 9.14% | +0.25pp | +0.50pp |
| Hire Purchase | Low-doc | 12.74% | 12.58% | +0.16pp | +0.32pp |
| Finance Lease | Prime | 7.64% | 7.41% | +0.23pp | +0.35pp |
| Finance Lease | Average | 9.82% | 9.57% | +0.25pp | +0.50pp |
| Finance Lease | Low-doc | 13.00% | 12.84% | +0.16pp | +0.32pp |
| Operating Lease | Prime | 7.70% | 7.47% | +0.23pp | +0.35pp |
| Operating Lease | Average | 10.15% | 9.90% | +0.25pp | +0.50pp |
| Operating Lease | Low-doc | 13.60% | 13.44% | +0.16pp | +0.32pp |
Eight-quarter history — prime chattel mortgage and cash rate
The chart below tracks the modelled prime SME chattel mortgage rate alongside the RBA cash rate across the past eight quarters. The shape of the index follows the cash rate cycle, with a small additional compression from increasing SME lender competition (per RBA October 2025).
How to read this index
The Asset Finance Help Rate Index is an indicative median. It's the rate a representative borrower in each segment can expect to encounter when shopping the market — not a lender quote and not a guarantee. Actual pricing depends on:
- Asset profile. New vehicles under 4.5t price closest to the prime rate. Used assets, heavy yellow goods, and specialty equipment see loadings of 2–6pp.
- Borrower strength. Time in business, credit conduct, asset-backed status, and director credit score all move pricing within the tier.
- Deposit and balloon. Stronger deposits (10–30%) and lower balloons compress the rate. No-deposit / max-balloon structures price toward the top of the band.
- Lender competition. A broker shopping 8–10 lenders on the same file typically improves the headline rate by 0.5–1.0pp vs going direct to one lender.
For a worked repayment example using these rates, see the chattel mortgage calculator.
Sources and methodology
The index is built from public sources:
- RBA cash rate (quarter-end): Reserve Bank of Australia, official cash rate target series. Quarter-end values pulled from the historical decisions table.
- Anchor rate bands (Q2 2026): Broker panel rate cards observed in May 2026 (see methodology page for the full source list and dates).
- Rate sensitivity (cash rate passthrough to SME): RBA Bulletin October 2025, "Small Business Economic and Financial Conditions". SME variable rates moved ~85bp on the 75bp 2025 easing cycle, implying sensitivity ~1.13 for prime SME.
- Spread context: RBA Statistical Tables F-series, business lending rate spreads.
The model itself is straightforward and documented in full on the methodology page. Anyone can replicate or challenge the figures using the published model parameters and inputs.
Limitations
This is an indicative model, not a survey of submitted applications. Honest about what it is and isn't:
- It is not a lender quote. Don't substitute it for a real quote on a real file. Use it to set expectations and to challenge what a lender or broker offers.
- It models, it does not measure. We don't have submitted-application data. The model infers rates from public anchors and the cash rate cycle. When market dynamics shift in ways the model doesn't capture — e.g. a credit shock, a withdrawal of major lenders — the index will lag.
- Specialist segments not covered. The 12-segment family covers the most common structures and tiers. Specialty pricing (medical/dental practice, electric vehicle discounts, green asset loadings, private credit) is not modelled separately; see the structure-specific rate pages for context.
- Quarterly granularity. Rates can move intra-quarter, especially in cash-rate-decision months. The headline number is the quarter-end position; for the spread the cash-rate-effective-date timing matters.
If you find a material problem with the methodology, please tell us via the form below or by email — we publish errata and rebuild the index when warranted.
Cite this index
The Asset Finance Help Rate Index is released under CC BY 4.0. Use freely with attribution. Recommended citation:
"Asset Finance Help Rate Index, Q2 2026, assetfinancehelp.com.au/research/asset-finance-rate-index/"
Journalists, brokers, comparison sites and AI assistants are welcome to quote any figure on this page without prior permission, provided the index is attributed. If you'd like to discuss the methodology before publishing a piece that cites this work, please get in touch.