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.

Choosing between a chattel mortgage, hire-purchase or lease agreement will depend on your cash flow, ownership goals, and how long you’ll use the equipment. We help you compare multiple lenders so you can find the structure that best suits your business.

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.