Machinery Loans
Need a machinery loan? Whether you're buying a new or used machine, upgrading or growing your fleet, we work hard to deliver the cheapest deal. We're known for delivering sharper rates than banks, dealerships and other brokers, with a loan strategically structured around your business.
Machinery Loan Deals: Low Rates, Fast Approvals
Looking for a machinery loan in Australia? Overdrive Machinery Finance helps ABN holders, including businesses, sole traders, trusts, companies, owner operators, owner drivers and self employed applicants, finance new and used machines with competitive rates, fast approvals and flexible loan options structured around their business.
Whether you’re buying from a dealership, private seller or auction, we compare your application across suitable lenders from our panel of 80+ banks and non bank lenders, then negotiate directly with lenders to secure the sharpest rate and terms available for your circumstances.
We’re known for delivering some of the lowest machinery loan rates and repayments in Australia and beat bank, dealer and broker quotes every day. Our lender relationships and reputation give us the ability to negotiate discounted rates and push for better deals.
Eligible applicants may have access to no deposit machinery loans, flexible terms up to 7 years, balloon payment options and finance without additional property or asset security. We also offer no doc, low doc and lite doc machinery loans up to $500,000, along with full doc machinery loans up to $10M+ for larger purchases, multiple machines and fleet expansion.
Same day pre approvals and approvals within 24 to 48 hours may be available for eligible applications, helping you move quickly when you’ve found the right machine.
Our machinery loan rate comparison service is 100% free. If you decide not to proceed, there’s no cost to you. Where we can compare your options without submitting a formal credit application, there will also be no impact on your credit profile.
Whether you need a chattel mortgage, commercial hire purchase, finance lease, rent to own, sale and leaseback or machine refinance, we match your business and machine to the right lender and negotiate a deal that’s hard to beat.
Competitive Machinery Loan Rates
Getting a machinery loan approved is only part of the job. Getting the right rate and structure matters just as much.
We’re known for delivering some of the lowest machinery loan rates and repayments in Australia and beat bank, dealer and broker quotes every day.
Our strong reputation and relationships with lenders give us the ability to negotiate pricing directly, request discounted rates and push for better deals where available.
Rather than accepting the first rate offered, we know which lenders to approach, how to structure the application and when there’s room to negotiate.
100% Free Machinery Loan Rate Comparison
Our machinery loan rate comparison service is 100% free. We compare your options across suitable lenders to find the most competitive rate and loan structure available for your circumstances.
If you decide not to proceed, there’s no cost to you. Where we can compare your options without submitting a formal credit application, there will also be no impact on your credit profile.
We regularly compete with and beat bank, dealer and broker quotes, using our lender relationships to negotiate discounted rates and better deals where available.
Australian Family Owned Machinery Loan Broker
Overdrive Machinery Finance is an Australian family owned machine and trailer finance brokerage focused on building long term relationships with our clients.
Every client works personally with Simon Kendrick, Managing Director. No 1300 numbers, just a direct mobile. From your first conversation and lender negotiations through to approval and settlement, Simon remains involved throughout the entire process.
With 30+ years in commercial finance, Simon has worked across virtually every type of machinery loan scenario, from straightforward new machine purchases to used and older machines, private sales, auctions, existing finance and poor credit scenarios.
That experience means we understand what lenders are looking for, where an application is likely to fit and how to structure a machinery loan application properly before it reaches a credit team.
We’ve helped clients finance their first machine right through to their 30th machine, and that’s the type of long term relationship we aim to build.
Our goal isn’t to finance one machine and disappear. We want to work with you through every phase of growth, from your first machine to replacing vehicles, adding more machines and building an established fleet.
Clear communication. Upfront and transparent. One experienced broker for this machine and every machine after that.
How to get a machinery loan
Four steps from application to having your machine on the road. Straightforward deals can settle in 24–48 hours.
Tell us about your business and the machine
Share your ABN, the machine you’re buying and your budget. The online enquiry takes just a few minutes, and a soft check won’t touch your credit score.
We compare matched offers from 80+ lenders
We put your deal across our panel for chattel mortgage, finance lease and hire purchase, then show you the rates, terms and repayment structures side by side.
Send documents and get approved
Provide ID, ABN details and recent bank statements — or go low-doc if your business is established. Most approvals land within 24 hours.
Settle and put your machine to work
We coordinate settlement with the dealer or private seller, and your machine is ready to earn the moment the funds clear.
Built for Australian businesses
We understand what it takes to get a machinery loan over the line across all types of business scenarios. From owner drivers and start ups buying their first machine to established businesses expanding their fleets, we know how to structure each application, match it with the right lender and negotiate the best possible outcome.
Machinery Loans for Every Type of Machine
We finance new and used machines across Australia, from an owner driver buying their first machine to established businesses purchasing multiple vehicles and growing their fleets.
Different machine types, ages and configurations can attract different lender policies, rates and loan terms. That’s why we don’t treat every machinery loan application the same.
We understand machines, how they’re used and how lenders assess them. We match the machine, your business and the loan structure to the right lender from the start.
Machinery Loans Across Australia
We arrange machinery loans Australia wide for ABN holders throughout NSW, VIC, QLD, WA, SA, TAS, ACT and NT.
The entire process can be handled by phone and email, so whether your machine is around the corner or interstate, we can arrange the loan and coordinate settlement with the seller.
Whether you’re buying your first machine, replacing an existing vehicle or expanding your fleet, you get the same approach: competitive rates, flexible loan options, fast approvals and one dedicated broker from application through to settlement.
Machinery Loan Options for Every Business
Not every business or machine purchase fits the same lending criteria. That’s why we offer different machinery loan options based on your business, documentation, credit profile and the machine you’re purchasing.
Low Doc, Light Doc & Full Doc Machinery Finance
When applying for machinery finance, lenders will generally offer Low Doc, Light Doc or Full Doc options. The right choice depends on your business structure, trading history, and the type of machine you're purchasing.
| Feature | Low Doc Machinery Finance | Light Doc Machinery Finance | Full Doc Machinery Finance |
|---|---|---|---|
| Financial Statements Required | No | No | Yes |
| BAS Statements Required | No | Usually | Sometimes |
| Business Bank Statements | No | Yes | Sometimes |
| Approval Speed | Fastest | Fast | Standard |
| Interest Rates | Higher | Competitive | Most Competitive |
| Borrowing Capacity | Up to $500k | Up to $500k | Up to $10m+ |
| Ideal Outcome | Quick approval with minimal paperwork | Balance of flexibility and pricing | Best pricing and maximum borrowing power |
Which Option Is Right For You?
Need help deciding? Our finance specialists will assess your circumstances and recommend the most suitable asset finance solution for your business.
| If You Are… | Recommended Option |
|---|---|
| Self-employed or businesses with limited financial records | Low Doc |
| Businesses with bank statements and BAS available | Light Doc |
| Businesses with full financials | Full Doc |
Low Doc Machinery Finance
Low Doc finance is designed for borrowers who want a simple, streamlined approval process. In most cases, no financial statements or BAS statements are required. Approval is generally based on your ABN history, credit profile, and the asset being financed.
Light Doc Machinery Finance
Light Doc finance provides a middle ground between Low Doc and Full Doc lending. Borrowers can often qualify using recent business bank statements and limited supporting documentation, without the need for full financial accounts.
Full Doc Machinery Finance
Full Doc finance is suitable for borrowers who can provide complete financial records and supporting documentation. This option typically offers the most competitive rates and highest borrowing capacity.
Machine loan FAQs
What interest rate will I get on a machinery loan?
Rates start from 6.55% p.a. for a strong, asset-backed machinery loan and move up with the age of the machine, the term, any deposit and your credit profile. Because we compare a panel of lenders on one application, we quote the sharpest rate you actually qualify for rather than a single bank's rate card.
Can I get a machinery loan without financials (low-doc)?
Yes. For an eligible loan under a lender limit we can arrange a low-doc machinery loan with no tax returns or BAS, on the strength of your ABN age, GST registration and clean credit. It typically needs a 2+ year ABN and sits slightly above a full-doc rate.
Who can apply for a machinery loan?
ABN holders — sole traders, partnerships and companies. Commercial lending to ABN holders sits largely outside consumer credit rules, which usually means a faster, simpler process than a personal loan.
Does enquiring about a machinery loan affect my credit score?
No. The initial enquiry is a soft check only and does not affect your credit score. We only lodge a formal loan application to a lender once you have seen the numbers and told us to proceed.
Do I need a deposit for a machinery loan?
Not always. $0-deposit machinery loans are available for eligible deals, subject to assessment. A deposit or trade-in can help with a newer ABN or an older asset, and it lowers the amount borrowed and your repayments.
What loan terms are available?
Machine loan terms typically run from 1 to 7 years. A longer term lowers the repayment but costs more interest overall; a shorter term costs less interest but repays faster. We help you balance cash flow against total cost.
Can I get a loan on a new or used machine?
Both. We arrange loans for new machines (dealer stock and factory orders) and used machines bought from a dealer, at auction or from a private seller. On a used machine, its age, kilometres and condition can affect the rate and term.
Can I buy from a private seller or at auction with a machinery loan?
Yes. For a private sale the lender verifies ownership and checks the machine is clear of existing finance (a PPSR check) before releasing the loan funds. We manage that process with you.
How does a balloon or residual work on a machinery loan?
A balloon (or residual) is a lump sum set aside to the end of the term. It lowers your regular repayments now, which suits operators who refresh machines every few years — you pay it out, refinance it, or trade in at term end.
How quickly can a machinery loan be approved?
For a straightforward, asset-backed machinery loan we can often come back with an indicative answer the same business day, with conditional approval frequently inside 24 hours, and settlement within a few days once documents are in.
Ready to find your best machinery loan rate?
Free quote in minutes, decisions in 24–48 hours. No obligation, no credit-score impact to enquire.