Equipment Finance

Need to buy a vehicle or equipment? We can help with Equipment Finance

Rated 5 from 545 Reviews

Request a Call Back

Whether you're wanting a new vehicle, plant or machinery, we're on your side

Equipment Finance is a great way for businesses to fund growth through the purchase of specialised equipment or even fit outs that help your business. Loan Terms for Equipment Finance are generally flexible so are a great help in managing cashflow while staying up to date with the latest equipment required for your business. There could also be tax advantages by utilising Equipment Finance to acquire equipment rather than buying equipment outright.

Lenders will generally want to understand the equipment being purchased, it's value and what it will be used for. In addition, they will also want to understand your financial position and may require documentation such as financial statements, cash flow projections, and other business information. Generally the equipment itself will serve as collateral for the loan, reducing the need for security over other assets. We can generally get Equipment Finance approved relatively quickly and have a great understanding of the different types of products and documentation required to get your Equipment Finance approved.

We're a proud member of the Finance Brokers Association of Australia and can help with Equipment Finance right across Australia. If you're looking to grow your business, we have the expertise and experience to guide you through the process and make the right choice.

Ready to chat to one of our team?

Book an Appointment

ml

mingyue li

It was an exceptional experience working with John, with the prompt, patient and knowledgeable communication, he got us the best deal ever , very happy with his professional outstanding services and would 100% recommend to everybody!

LB

Lynda Birnie

Ben my finance broker was absolutely amazing. Very professional and very understanding to my lending needs. Ben made it easy and hassle free. Clear and concise communication at all times. I would recommend Ben 100% to anyone looking for financial advice and help.

JB

Jenya Barlow

We’ve been working with Shoheel for quite some time now, and we are incredibly grateful for everything he has done for us. From the moment we reached out, Shoheel has been nothing short of amazing. He takes the time to truly understand our situation and has always provided us with clear, sound advice and mortgage options tailored to our needs. His expertise, patience, and personal approach have made a huge difference in our investment journey. Shoheel’s commitment to ensuring we feel supported and informed every step of the way has given us confidence in our decisions. We truly appreciate his professionalism and the care he puts into helping us navigate through every challenge. If you’re looking for a mortgage and finance broker who genuinely cares and goes above and beyond for their clients, Shoheel Khan is the one! We can’t thank him enough for all his help. Highly recommended! Jenya & Nick Barlow

Frequently Asked Questions

What is the typical term for Asset and Equipment Finance?

The most common terms for Asset and Equipment Finance are between 12 months to 60 months. This does vary if the cost of the asset is particularly high and therefore loan terms can stretch to 10 years but this is relatively uncommon.

Can I make extra repayments?

In simple terms, it's usually not a good idea. Even though it puts the contract ahead of the planned repayments, it's unlikely to bring any tax benefits. Also, you can't get back advance payments, like you can with a home loan. And if there's a Direct Debit set up, it might not take out more payments until the contract is due again.

What’s a balloon or residual payment?

A balloon payment refers to a large lump sum payment that is typically made at the end of a loan term. It is commonly associated with loans such as mortgages or car loans. Unlike regular loan payments, which are spread out evenly over the loan term, a balloon payment is much larger and is often necessary to fully pay off the remaining balance of the loan.

Balloon payments are typically used in situations where the borrower wants lower monthly payments throughout the term of the loan, with the understanding that they will need to make a significant final payment. This can be advantageous for borrowers who expect their financial situation to improve over time or who plan to sell the asset before the balloon payment comes due.

However, balloon payments also come with risks. If the borrower is unable to make the balloon payment when it is due, they may be forced to refinance the loan or sell the asset to cover the outstanding balance. Additionally, balloon payments can make it more difficult for borrowers to budget effectively, as they must plan for the large payment at the end of the loan term.

What’s a balloon or residual payment?

A balloon payment refers to a large lump sum payment that is typically made at the end of a loan term. It is commonly associated with loans such as mortgages or car loans. Unlike regular loan payments, which are spread out evenly over the loan term, a balloon payment is much larger and is often necessary to fully pay off the remaining balance of the loan.

Balloon payments are typically used in situations where the borrower wants lower monthly payments throughout the term of the loan, with the understanding that they will need to make a significant final payment. This can be advantageous for borrowers who expect their financial situation to improve over time or who plan to sell the asset before the balloon payment comes due.

However, balloon payments also come with risks. If the borrower is unable to make the balloon payment when it is due, they may be forced to refinance the loan or sell the asset to cover the outstanding balance. Additionally, balloon payments can make it more difficult for borrowers to budget effectively, as they must plan for the large payment at the end of the loan term.

How long does it usually take to access funds?

Generally speaking, it takes days from the application to approval to settlement. This can very with the complexity of any deal and we recommend to speak with us to get an indication.

What is the typical term for Asset and Equipment Finance?

The most common terms for Asset and Equipment Finance are between 12 months to 60 months. This does vary if the cost of the asset is particularly high and therefore loan terms can stretch to 10 years but this is relatively uncommon.

Ready to get Started?