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 Eligible business-use lease payments may be deductible, subject to current tax law and the taxpayer’s circumstances.
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.
Assessment and settlement timing depends on the lender, application completeness, asset and seller checks.
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