Frequently Asked Questions

Equipment finance is a business loan that lets you buy or lease assets like trucks, machinery, excavators or forklifts without paying the full cost upfront. Repayments are spread over 1 to 7 years, so the cost of the equipment is matched to the income it generates, rather than paid upfront in one lump sum.

A lender funds the purchase, you make regular repayments over an agreed term, and ownership depends on the product type. A broker compares multiple lenders to find a structure and rate that fits your business.

Any Australian business with an active GST-registered ABN: sole traders, partnerships, companies and trusts. Most lenders look for 2+ years of trading history. Established operators with a clean trading record have the widest range of structures and lender options.

Almost any income-generating business asset, including trucks, trailers and prime movers; excavators, loaders, dozers and earthmoving gear; tractors, harvesters and farm machinery; forklifts, telehandlers and warehouse equipment. Equipment can be new or used, generally up to 20 years old depending on the lender.

Yes. Equipment finance is a business product, so an active ABN is required. Sole traders and startups can apply once registered, and some lenders offer low-doc or no-doc options for newer businesses.

Yes. Most lenders fund used equipment up to 10 to 15 years old at loan end, and some go to 20 years. Asset age and condition affect eligibility and rates. Private sales, auctions and dealer stock are all financeable.

Most straightforward applications are approved within 24 to 48 hours, with settlement in 3 to 5 business days. Complex deals may take 5 to 15 days. Having documents ready is the single biggest factor in moving quickly.

A copy of your driver's licence, ABN/ACN, the asset quote or invoice, and either the last 2 to 3 years of tax returns (full-doc) or the last 3 to 6 months of bank statements (low-doc). BAS, ATO portal screenshots and proof of insurance may also be required.

Equipment finance lenders assess the full business profile, not a single credit score number. Established 2+ year operators with a clean trading record and a sensible asset choice generally have the widest range of structures and lender options. Lenders look at trading history, asset value, industry, GST registration and how the asset will be used.

Banks lend on their own single policy. Brokers compare 80+ Australian lenders to find a policy that matches your business profile, asset type, industry and timing. For specialist assets, used equipment, seasonal industries or non-standard structures, a broker often opens options that a single bank simply can't approve.

Most equipment finance lenders prefer 2+ years of active trading and a GST-registered ABN. Established operators with a clean trading history have the widest range of structures and lender options. Specialist scenarios are assessed case by case.

No-deposit options are available for established 2+ year operators with the right asset and trading profile. A voluntary deposit can lower your repayments and may broaden lender options, especially for older or specialist assets. Your finance specialist will tell you whether a deposit is needed for your scenario.

Equifund arranges finance from $10,000 to over $5 million per asset. There's no fixed maximum: large plant or complex deals are assessed individually, with specialist funders handling purchases above $500K.

Australia's most popular equipment finance structure. You own the asset from day one, and the lender holds a registered charge over it as security. You can claim the GST input tax credit upfront, plus depreciation and interest deductions. The charge is removed once the loan is repaid.

The lender owns the asset and leases it to your business for a fixed term. You pay regular rentals and use the asset as if you owned it. At term end you can purchase, extend, or return it. Rentals are 100% tax deductible.

Hire purchase sits between a chattel mortgage and a lease. The lender owns the asset during the term, and ownership transfers to you automatically once the final payment is made. You can claim depreciation and interest deductions. Less common today than chattel mortgage.

A variation of hire purchase commonly used for business vehicles and equipment. Fixed payments over the term, with ownership passing to you at the end. Tax treatment is similar to a chattel mortgage.

A rental arrangement where you use the asset for a period without obligation to own it. The lessor carries residual risk. Common for vehicles and fast-depreciating equipment. Repayments are a business expense; you cannot depreciate the asset or claim ownership-related tax benefits.

The key difference is ownership. With a chattel mortgage you own the asset from day one. With a finance lease the lender owns it throughout the term. This affects your balance sheet, GST treatment and depreciation. Chattel mortgages give you the full upfront GST credit and depreciation deductions.

Chattel mortgage is the most popular structure for established Australian operators because it gives ownership from day one and may allow depreciation and GST claims subject to ATO eligibility. Hire purchase suits operators who want fixed repayments with ownership at end of term. Finance lease and operating lease suit those who want lower upfront commitment with a return option. Your finance specialist models the options against your tax position before you sign. Chattel mortgage suits owners who want depreciation. Finance lease suits operators who upgrade often. Operating lease suits short-term use. Our brokers assess your situation and recommend the most beneficial structure.

Rate is influenced by lender policy, your trading history, asset type and age, deposit amount, loan term and the structure you choose. Equifund compares the policy and pricing of 80+ Australian lenders to find the structure and lender best suited to your scenario. Your exact rate is confirmed in writing in your quote before you sign anything.

Terms typically range from 1 to 7 years. New assets are often financed over 5 to 7 years; used or older assets may be capped at 3 to 5 years. Longer terms reduce monthly repayments but increase total interest paid.

A larger lump sum payment at the end of your loan term. Including a balloon reduces monthly repayments. At the end you can pay it in cash, refinance it, or sell the asset to cover it.

Many lenders on our panel allow extra repayments without penalty, especially on chattel mortgage and hire purchase. Extra payments reduce interest paid and can shorten the term. Finance lease and operating lease typically have fixed payment schedules with no early-payment option. Your finance specialist confirms the early-payment terms with the lender before you sign. Most fixed-rate loans don't allow extra repayments without an early repayment fee. If flexibility matters, clarify before signing. Some lenders offer more flexible structures.

Yes. Refinancing can lower your rate, extend your term to reduce repayments, or release equity from an owned asset. It's worth reviewing every 2 to 3 years as rates change. We help clients refinance, often saving thousands per year.

Common fees include an establishment or origination fee ($300 to $1,000+), a monthly account-keeping fee ($10 to $30), an early repayment fee, and a PPSR registration fee (around $8 to $15). Equifund is paid a commission by the lender, so in most cases there's no fee to you for our service.

Equipment finance is treated as a business expense with deductibility varying by structure (subject to ATO eligibility). Chattel mortgage allows depreciation of the asset value plus deduction of interest payments. Finance lease allows deduction of the full lease payment. Operating lease payments are fully deductible as a rental expense. Your accountant should confirm the treatment for your specific business and lodgement. See ATO depreciation guidance. Chattel mortgage: deduct interest and depreciation. Finance or operating lease: payments are 100% tax deductible. The instant asset write-off may allow the full asset cost to be deducted in the purchase year.

This information is general only and not financial or tax advice. Speak to your accountant about your specific situation.

Yes. For chattel mortgages and hire purchase, you can claim the full GST input tax credit on the asset purchase price in your next BAS. For finance leases, GST spreads across rental payments. You cannot claim GST back on interest.

For the 2025 to 2026 financial year, the threshold is $20,000 per asset (excluding GST for registered businesses) for businesses with annual turnover under $10 million. This allows immediate deduction for eligible assets costing less than $20,000. Standard depreciation applies above this.

This information is general only. Confirm current ATO thresholds with your accountant before relying on them.

Chattel mortgage and hire purchase add the asset and the loan liability to your balance sheet from day one. Finance lease typically appears on balance sheet under modern accounting standards (AASB 16 / IFRS 16). Operating lease may remain off-balance-sheet for small businesses depending on the standard applied. Your accountant should confirm the treatment for your reporting framework. Chattel mortgage and hire purchase: the asset appears as owned and the loan as a liability. Finance leases under AASB 16 are mostly on-balance-sheet. Operating leases may differ. Discuss with your accountant, especially if you have bank covenants.

Chattel mortgage gives ownership from day one and may allow depreciation and GST claims subject to ATO eligibility. Leasing typically gives fully deductible payments and simpler off-balance-sheet treatment. Your accountant should model both scenarios against your tax position, intended use period, and repayment capacity. See ATO simpler depreciation rules.

A broker compares multiple lenders simultaneously, saving you hours of research. Banks can only offer their own products at their own rates. Equifund accesses 80+ lenders including the Big 4 banks, non-bank lenders and specialist funders. No cost to you in most cases.

Equifund has access to 80+ lenders across the full spectrum: the Big 4 banks, second-tier banks, non-bank lenders and specialist equipment funders. This breadth handles straightforward and complex deals alike.

No. We do a preliminary assessment before running any credit check. A formal enquiry only happens once you've agreed to proceed with a specific lender. We never shotgun applications across multiple lenders, which is what damages scores.

No. Equifund Financial Group is a fully licensed equipment finance broker (ACN 647 510 790, CRN 530270, FBAA member). We don't lend our own money. We act as your advocate, comparing options and negotiating terms on your behalf.

Equifund earns a brokerage fee on settlement that is disclosed in writing in your quote before you sign anything. Pre-approval and quotes are obligation-free with no charges if you don't proceed. There are no surprise fees. Equifund Financial Group is a fully licensed broker (ACN 647 510 790, Australian Credit Licence 389328). Commissions are disclosed before you proceed. On complex deals a broker fee may apply, and we discuss it upfront.

Apply online at equifund.com.au/apply-now in about 60 seconds, call 1300 464 805, or email info@equifund.com.au. A finance specialist will be in touch within hours. No obligation, no credit check until you're ready to proceed.

Transport operators across Australia finance prime movers, rigid trucks, semi-trailers, refrigerated units and pantech bodies through chattel mortgage, hire purchase or finance lease structures. Established 2+ year operators with consistent freight income and a clean trading record have the widest choice of structures, including no-deposit and any-asset-age options. Lenders consider the asset type and its expected residual, your trading history, the kind of work the truck will do (line haul, distribution, refrigerated cold-chain) and your settlement timing. Settlement is coordinated around your delivery slot, contract start date or job mobilisation, not the lender's queue.

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Civil contractors finance excavators, loaders, dozers, rollers, compactors and concrete equipment through chattel mortgage or hire purchase structures, typically over 36 to 60 month terms. Established 2+ year operators with a project pipeline and a clean trading record have the widest range of structures and lender options. Lenders consider the asset (brand, model, hours, age), your trading history, the type of civil work (subdivisions, roads, infrastructure) and any pipeline visibility. Equifund compares 80+ lenders to find a policy that fits your asset class and project profile.

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Earthmoving operators finance articulated dump trucks, skid steers, mini excavators, telehandlers and backhoes through chattel mortgage or hire purchase. Established 2+ year operators with consistent project work have the widest choice of lender options, including used-asset and low-doc structures. Lenders consider the brand and age of the equipment, hours on the machine if used, your trading history and your typical work mix (residential earthworks, civil sub-contracting, mining services). Settlement is coordinated around your delivery slot or job mobilisation date.

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Farmers finance tractors, headers, harvesters, balers, seeders and spray rigs through chattel mortgage with seasonal repayment structures aligned to harvest or sale income. Established 2+ year operations with consistent trading have the widest choice of lender options, including longer terms and seasonal payment plans. Lenders consider the type of farming (broadacre, mixed cropping, livestock, horticulture), the asset's useful life, your trading history and your repayment capacity through the season. Settlement is coordinated around planting, harvest or sale yards.

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Trade businesses (plumbing, electrical, HVAC, scaffolding, warehousing, landscaping) finance crane trucks, service vehicles, forklifts, scissor lifts and trailers through chattel mortgage, hire purchase or finance lease structures. Established 2+ year operators with consistent commercial or domestic work have the widest range of structures. Lenders consider the asset usage (commercial fit-out, residential service, fleet operation), your trading history and the asset's expected residual value. For fleet additions, lenders can structure multiple assets under one approval. Settlement is coordinated around your job start or delivery date.

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Fleet operators across transport, civil, earthmoving and trade structure finance for multi-asset acquisitions through master finance facilities, multiple chattel mortgages or hire purchase arrangements. Established 2+ year fleets with consistent revenue and a clean trading record can negotiate larger facility approvals that cover multiple assets in one application. Lenders consider the fleet composition, asset turnover policy, trading history and the strategic role each asset plays. Equifund's specialists work with fleet operators on refresh cycles, EOFY-aligned settlements and the optimal mix of ownership versus operating lease structures.

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Owner drivers finance new or used prime movers, rigid trucks and trailers through chattel mortgage or hire purchase structures, typically over 48 to 72 month terms. Established 2+ year operators with a clean ABN and consistent freight income have the widest range of lender options, including no-deposit structures suited to owner-operators. Lenders consider the truck brand and age, the work you're carrying (line haul, distribution, agitator, refrigerated), your trading history and your contract or sub-contractor agreements. Settlement is coordinated around your contract start date or trailer delivery slot.

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