FAQs

The best financing product is the one that suits the accounting method, tax approach, balance sheet preference and objectives of the business. All credit facilities can suit all types of cranes.

The interest rates vary across the credit products and will vary with lenders and the credit profile of the applicant.

Only Rent-to-Own and Lease repayments are completely deductible. Interest on Chattel Mortgage and CHP repayments is deductible but the main deduction with these products is delivered via depreciation.

Having registration to claim GST is not essential to eligibility for commercial credit.

Financing for new and second-hand equipment can be different in a number of aspects of the loan. It may be the amount approved, the interest rate and the security.

Operators can use a crane loan calculator to obtain estimates of financing prior to applying.

Terms can vary across the lending market for heavy equipment finance. 84 months is a typical term which can be offered.

Chattel Mortgage, CHP, Rent-to-Own and Lease can all be suitable to finance lifting equipment.

Self-employed contractors with an ABN and the required documents can be approved for commercial financing. Subject to lender guidelines.

Loan amounts can be subject to lender guidelines and an assessment of the individual application. Typically, the full purchase price of business assets can be included in the loan total.