Heavy Machinery Loans FAQs

Yes, a heavy machinery loan can cover both new and used equipment, giving you flexibility to get the gear your business needs without waiting to save up.

You may be able to get a loan with a small deposit (10-30%) or even no deposit at all. The asset itself often acts as collateral to offset the lender's risk.

Rates vary depending on the lender, asset type, loan term, and your business profile. Stronger credit history and larger deposits can help secure more competitive rates.

Most businesses finance heavy machinery through a chattel mortgage or hire purchase, since owning the asset outright is typically the goal. With high-value, slower-depreciating equipment like excavators, cranes, and harvesters, a balloon payment structure is common. You make a lump sum payment at the end of the loan term, usually significantly higher than prior ones, which reduces your monthly repayments and frees up short-term cash flow.

Leasing is also worth considering if you'd rather not carry resale risk on an asset that will need replacing or upgrading over time. The right choice depends on your cash flow, ownership goals, and how long you'll use the equipment. If you're not sure, we can help you compare lenders and loan products to find the best fit for your situation.

Yes, you can usually pay off your heavy equipment loan early. A small fee may apply, so it’s worth checking before you commit.

Often, you can trade in old machinery as part of your finance arrangement, which can help reduce the loan amount and free up cash for new assets.

Many lenders allow you to upgrade or refinance your machinery down the track, giving your business flexibility to keep equipment modern and efficient as your needs change.

Yes. We finance earthmoving equipment including excavators, loaders, graders, and tractors, structured as a chattel mortgage, hire purchase, or lease depending on your business's cash flow and how long you'll use the equipment.