Excavator Finance Guide | Mini to 30T+ Machines

Excavator Finance at a Glance

Size Class	Typical Price Range	Common Structure
Mini (1.5–3T)	$30,000–$80,000	Chattel Mortgage
Midi (4–8T)	$80,000–$180,000	Chattel Mortgage
Standard (8–20T)	$150,000–$400,000	Chattel Mortgage / Finance Lease
Large (20–30T+)	$300,000–$800,000+	Finance Lease / Operating Lease

Best Finance Structure for Excavators

Chattel Mortgage (Most Popular)

Ideal for owner-operators and small earthmoving businesses. You own the excavator from day one, claim the GST credit upfront, and can claim depreciation or use the instant asset write-off if eligible.

Finance Lease

Good for businesses that upgrade machinery regularly (every 3–5 years). Lower monthly payments due to the mandatory residual, and 100% of lease payments are tax-deductible.

Operating Lease

Suited to large civil contractors running fleets of 5+ machines. Can include maintenance, and the lessor bears the residual risk. Most common for 20T+ machines where downtime costs are high.

New vs Used Excavators

Used excavators are common in Australia and can be excellent value. Key considerations:

Age limits: Most lenders finance excavators up to 15–20 years old (at end of term)
Hours matter more than age: Lenders look at machine hours — under 10,000 hours is generally preferred
Higher deposits: Used machines may require 10–20% deposit vs 0–10% for new
Inspection required: Lenders may require an independent mechanical inspection for higher-value used machines

What Lenders Look For

ABN active 12+ months — newer businesses may need additional security
Existing contracts or work pipeline — demonstrates ability to service the loan
Clean credit history — defaults or bankruptcies can impact approval
Financial statements — last 2 years of tax returns, BAS statements
Deposit — 10–20% is typical for earthmoving equipment

Frequently Asked Questions

Yes. Attachments purchased with the excavator are usually included in the same finance agreement. Standalone attachment purchases can also be financed separately — minimum amounts typically start at $10,000–$20,000.

Low-doc finance options are available for businesses with 6–12 months of trading history. You may need a larger deposit (20–30%) and rates may be slightly higher. A specialist broker can match you with the right lender.

Standard applications: 24–48 hours approval. Low-doc or complex: 3–5 business days. Having documents ready before applying speeds things up significantly.

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