Won a contract and need another excavator? Sick of hiring a skid steer every week? For Queensland tradies and construction businesses, the right machine can lift what you earn, but the wrong finance can squeeze cash flow between progress payments. Here's how machinery finance works, your options if you're a newer or low doc business, and what to check before you buy used or privately.
What machinery can you finance?
- excavators, mini excavators and attachments
- skid steers, posi tracks and loaders
- tippers, dozers, rollers and graders
- plant trailers and tag trailers
- tractors and farm machinery
- generators, compressors and site equipment.
Attachments, trailers and the ute that tows them can often be bundled into the same deal, which keeps things simpler.
Buy or keep hiring?
| Hiring | Financing | |
|---|---|---|
| Best for | Occasional or one off jobs | Machines you use most weeks |
| Cost over time | Ongoing, with nothing to show for it | You build equity in the machine |
| Availability | Depends on the hire yard | Ready when the job is |
| Tax | Hire costs are generally deductible | Depends on the structure, ask your accountant |
If you're hiring the same machine most weeks, it's worth comparing a finance repayment against your hire bill.
The common roadblocks, and your options
"My ABN is new"
Plenty of operators go out on their own after years on someone else's machine. Some lenders will consider a new ABN, especially with solid industry experience, clean credit, a deposit or property, and a contract or letter of engagement showing the work is lined up.
"My tax returns are behind"
Low doc finance may accept BAS statements, business bank statements or an accountant's letter instead of full financials. Low doc options are available up to $500k, subject to lender criteria.
"I'm buying used or from a private seller"
Many lenders will finance used machinery from dealers, auctions or private sellers. Lenders look at the machine's age, hours and condition. Before you pay, check the PPSR using the serial number to see if there's money owing on it. If we arrange the finance, the lender normally runs these checks and pays out any existing finance at settlement.
"Progress payments make my cash flow lumpy"
Ask about structured or seasonal repayments, a balloon to lower regular repayments, or a deposit to reduce the loan. Keep a line of credit or invoice finance for the gaps between payments, rather than stretching the machine loan.
Which structure?
Most machinery is financed with a chattel mortgage, where your business owns the machine from day one. Finance leases and hire purchase are also available. See our chattel mortgage vs finance lease guide for the full comparison, and our equipment finance guide for how the process works.
What to have ready
- your ABN, GST details and licence
- the quote, invoice or listing, including the serial number and hours
- 3 to 6 months of business bank statements
- financials or BAS statements
- any contracts or letters of engagement.
How Lend It helps Queensland operators
We're based at Runaway Bay on the Gold Coast and help tradies, civil contractors and construction businesses across Queensland. We compare 70+ lenders for machinery and equipment finance and truck finance, including lenders that suit new ABNs and low doc businesses. Approvals can come through in as little as 24 hours.
Getting a quote doesn't affect your credit score. We may run a soft check, and a full credit enquiry only happens when you apply. We have 250+ Google reviews and we're open 7 days, 8:30am to 6pm.
FAQs
Can I finance an excavator with a new ABN?
Often, yes. Lenders usually look for industry experience, clean credit, and a deposit, property or a contract.
Can I finance a used machine from an auction or private seller?
Many lenders allow it, subject to checks on the machine's age, hours and title.
Can attachments and trailers go on the same loan?
Often, yes. Bundling them can simplify the deal.
Can I get machinery finance without tax returns?
Low doc options may use BAS or bank statements instead, subject to lender criteria.
How do I finance farm machinery?
Farm machinery can be financed the same way, and some lenders offer seasonal repayments to match harvest income.
Let's get the machine on site
Tell us what you're buying and the work it'll do, and we'll line up the options. Get a machinery finance quote or call 1300 082 012.
Researched with AI assistance, written and checked by Dayle Filliponi.
General information only. This article is not financial, tax or legal advice and doesn't take your circumstances into account. Talk to your accountant or a licensed adviser before you make a decision. Information current as at 5 November 2026. Lend It Finance Group is a credit representative (535206) of COG Compliance Services Pty Ltd, Australian Credit Licence 384428.