FAQs

Business owners can select from Lease, Rent-to-Own, Commercial Hire Purchase and Chattel Mortgage to fund heavy machinery.

The same credit products may be used for all types of heavy machinery. The interest rates vary with the credit products and aspects of a loan offer can vary for individual applicants, subject to lender guidelines.

Contractors with a current ABN can be eligible for commercial credit for heavy machinery.

Where attachments are purchased from the same supplier and at the same time as a heavy machine, the entire purchase price may be included in one funding arrangement. Subject to individual approvals.

Terms on heavy machinery funding can vary with lenders and individual applications. 7 years is a typical term approved by many lenders.

Leasing and Rent-to-Own have tax deductible payments. Commercial Hire Purchase and Chattel Mortgage have tax deductions via depreciation of the heavy machinery.

Applications for commercial funding may be submitted for quoting and approval prior to the actual purchase of the machinery. Details of the machine and an estimate of the amount required will be needed for the application.

Interest rates vary across the lending market and with different credit products. Rates are offered based on the credit check and financials of the applying business.

Heavy machinery loans are typically offered with a fixed interest rate which does not change over the funding term.

Operators take full ownership of heavy machinery under finance when all payments including any balloon, residual or buyback are finalised.