Excavator Finance For Business

Your guide to getting the right excavator finance.

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A quick guide to excavator finance

Excavator finance provides construction companies and businesses in need of excavation equipment with a convenient solution to acquire excavators without a significant upfront investment. It enables them to access the necessary machinery for digging, demolition, and earthmoving projects. Excavator finance offers flexible repayment terms and tailored options to suit individual business requirements. By leveraging excavator finance, businesses can enhance their construction capabilities, increase efficiency, and take on larger projects. This financing option empowers businesses to acquire modern excavators, improve productivity, and achieve success in the construction industry without straining their financial resources.

Here's what excavator finance typically looks like:

eligibility orange tickBorrow from $5,000 - $5,000,000
eligibility orange tickLoan terms from 1 - 7 years
eligibility orange tickWeekly, fortnightly or monthly repayments
eligibility orange tickFixed interest rates from 7.44%
eligibility orange tickInterest rate tailored to your situation

What can I use excavator finance for?

Excavator finance provides farmers with the opportunity to acquire essential equipment for various tasks on the farm. With access to funding, farmers can invest in excavators to facilitate activities such as land clearing, trenching, digging, and construction projects. Excavators enable farmers to efficiently manage soil preparation, drainage systems, and infrastructure development. By utilising excavator finance, farmers can enhance their operational capabilities and streamline their agricultural activities.

Here are some common reasons people take out excavator finance:

Construction Projects

Excavator finance is commonly used to fund construction projects, including digging foundations, trenching, and site preparation.

Landscaping and Earthmoving

Excavators are essential for landscaping and earthmoving tasks, such as clearing land, grading, and creating ponds or water features.

Road and Infrastructure Development

Excavators play a crucial role in road and infrastructure development, including road construction, maintenance, and repair.

Demolition Projects

Excavators are frequently used in demolition projects to dismantle structures, remove debris, and clear the site.

Utility Installations

Excavators are used to install underground utilities, such as water pipes, sewer lines, and electrical cables.

Mining Operations

Excavators are widely used in mining operations for tasks like digging, loading, and transporting materials.

Land Development

Excavators are employed in land development projects, including leveling, grading, and shaping the terrain.

Ditching and Drainage

Excavators are utilized for ditching and drainage projects, helping to divert water and prevent flooding.

Cable and Pipe Installations

Excavators are essential for laying cables and pipes, such as telecommunications lines and gas pipelines.

Aggregate and Material Handling

Excavators are commonly used to handle aggregates and materials, such as loading trucks and stockpiling.

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How much can I borrow for excavator finance?

When it comes to excavator finance in Australia, the amount you can borrow will depend on various factors, including the specific lender, your financial situation, and the type of excavator you need. Excavators are significant investments, and financing options are available to help businesses and individuals acquire these essential machines for various purposes. The borrowing limits for excavator finance can range from a few thousand dollars to several hundred thousand dollars. Financial institutions in Australia offer flexible financing solutions tailored to the needs of businesses in the construction, mining, landscaping, and infrastructure development industries.

Factors such as the age and condition of the excavator, its market value, and your creditworthiness will be considered by lenders when determining the loan amount. Additionally, lenders may also consider the term of the loan, interest rates, and any required down payment or collateral. Keep in mind that borrowing for excavator finance should align with your budget and financial capabilities. Ensure you have a clear understanding of the repayment terms and consider any associated costs, such as insurance, maintenance, and operating expenses, when determining the appropriate loan amount.

Excavator Finance Repayment Calculator

To estimate your monthly repayments and the total cost of the loan, input the loan amount, loan term and interest rate into the calculator below. This helps you plan your budget and choose the most suitable loan terms.

Loan Amount
Establishment Fee
Loan Term (Years)
Interest Rate
Total amount to repay
Your repayments

Balance over time

Am I eligible for excavator finance?

Lenders consider several factors when assessing your eligibility, including your credit score, income, debt-to-income ratio, age, residency, and required documentation. While meeting the eligibility criteria doesn't guarantee loan approval, having a good credit score, stable income, and a positive financial profile significantly improve your chances.

You are eligible to apply for excavator finance if you are:

eligibility orange tickOver the age of 18; and
eligibility orange tickAn Australian citizen or permanent resident; and
eligibility orange tickHave a regular source of income, that is enough to meet the repayments

How to apply for excavator finance?

Applying for excavator finance is easy and only takes a few minutes. Get started by filling out some basic information into our application form. We’ll review your information, and someone will be in contact with you to discuss the best option for you from over 40+ Australian lenders.

If you’re eligible for excavator finance, and you are happy with the initial quote, you will need to prepare documents such as:

eligibility orange tickPassport or drivers licence
eligibility orange tickProof of income and expenses (e.g. payslips, bank statements)
eligibility orange tickDetails of any current debts or other loans

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How to get the best excavator finance for you?

When searching for excavator finance, it's essential to understand the different factors to find the best fit for your needs. From interest rates and fees to loan terms and early payout options, each factor can increase or descrease the total amount you will repay.

Interest Rate

When it comes to obtaining an excavator finance loan, one of the most important factors to consider is the interest rate. The interest rate directly impacts the overall cost of borrowing and your monthly repayment amount. It is crucial to compare rates from different lenders to ensure you secure a competitive rate that aligns with your financial goals and helps you save on interest expenses over the loan term. Keep in mind that your creditworthiness, the type of equipment being financed, and the lender's assessment of risk will all influence the interest rate you are offered.


In addition to the interest rate, it is essential to carefully evaluate the fees associated with excavator finance loans. These fees can include application fees, origination fees, documentation fees, and ongoing administrative fees. By understanding the fee structure of different lenders, you can choose a loan with transparent and reasonable fees. It's important to note that while some lenders may have lower interest rates, they may offset it with higher fees. Therefore, a thorough assessment of both interest rates and fees is necessary to ensure you minimise costs and maximise the value of your excavator finance loan.

Comparison Rate

When comparing excavator finance loan options, it is not sufficient to consider the interest rate alone. To gain a comprehensive understanding of the true cost of the loan, it's essential to examine the comparison rate. The comparison rate takes into account both the interest rate and any additional fees associated with the loan. This rate allows you to make a more informed decision by considering the total cost of borrowing. By comparing comparison rates from different lenders, you can better assess the overall affordability of each loan option.

Loan Term

The loan term or repayment period is an important aspect to consider when obtaining excavator finance. The loan term typically determines the duration of your repayments and can range from a few months to several years. A shorter loan term usually means higher monthly repayments but lower overall interest costs, as you'll be repaying the loan in a shorter timeframe. On the other hand, a longer loan term may result in lower monthly repayments but could mean higher interest expenses over the life of the loan. It is essential to evaluate your business's cash flow and equipment usage to determine the loan term that best suits your financial situation.

Balloon Payment

In some cases, excavator finance loans may include the option for balloon payments. A balloon payment is a larger lump-sum payment due at the end of the loan term. While balloon payments can help reduce monthly repayment amounts, they require careful consideration. It's important to assess whether your cash flow and financial resources will allow for the balloon payment when it becomes due. Balloon payments can be a suitable option if you anticipate having significant funds available or if you plan to refinance the balloon payment at the end of the loan term. However, it is crucial to fully understand the implications of balloon payments and their impact on your overall financial strategy before committing to this structure.

Early Payout

Flexibility in loan repayment is a valuable feature to consider when seeking excavator finance. Early payout options allow you to repay the loan before the agreed-upon term without incurring any penalties or additional charges. This flexibility can be advantageous if your business experiences a financial windfall, allowing you to reduce interest expenses and become debt-free sooner. Before finalising an equipment finance loan, it's essential to review the terms and conditions to ensure that early repayment is possible and to understand any potential limitations or conditions that may apply.

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Frequently Asked Questions

Still have questions about excavator finance?

These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below.

What is the interest rate on excavator finance
Can I finance used equipment?
What is the typical term for excavator finance?
Do I need to provide a down payment?
Can I get excavator finance with bad credit?
Are there any tax benefits to excavator finance?
Can I pay off my equipment loan early?
Can I lease equipment instead of buying?
What is the difference between a lease and a loan?
What happens if the equipment breaks down?
Can I refinance excavator finance?
Is equipment insurance required?
Do I need a good business credit score for equipment financing?
Can I include installation, maintenance, and other costs in my loan?