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Yes – we offer no deposit finance options. This means you may be able to purchase your crane without any collateral or a deposit.

Yes – we can help individuals and businesses of all sizes with any crane purchase. Whether you’re looking to buy a mobile crane or a fleet of cranes, we’ll be sure to find you the best crane finance option that meets your needs.

We can find competitive crane finance solutions for you or your business even if you have bad credit (subject to some conditions) – please talk to one of our finance consultants to see how we can help you.

Yes – our network of lenders offer a variety of flexible leasing and rental options to suit the needs of your business.

Yes – you can purchase your crane at the end of the lease by paying out the residual value at the end of the lease term. Our flexible lease options also allow you to exchange your crane for a new one by trading it in at the end of the lease.

Yes – our finance consultants specialise in arranging finance for cranes.

Yes – you can purchase from any reputable auction house or from a private seller. Our finance consultants will work with the private seller to ensure all of the transaction paperwork is correct so that you can be sure to receive the title to your new asset.

Getting finance for a used crane can be as simple as providing proof of your identity and signing a privacy acknowledgement. Seriously! There are lenders who specifically focus on financing used cranes and because they know the market and industry so well they make it very easy for an experienced transport operator to get money to grow their business.

Most banks will provide crane loans however some are better than others at it. However, we find the best bank depends on the requirements of the borrower. Whether it’s cheap rates, quick turnarounds or easy approvals, each borrower has different priorities and so the best bank for one borrower is usually not the best bank for another borrower and vice versa. It’s important to deal with a finance broker who knows your industry and how to finance your equipment so they can help identify the best bank for your crane loan.

In most cases no deposit is required to finance a crane purchase. The one exception is for a new business. The general rule is that a new business needs to contribute 20% deposit by way of cash or collateral (car, bike, crane, house etc) to finance a crane purchase.

Just like home loan interest rates, crane loan interest rates vary all the time. The best way to think about what the best interest rate for your crane loan will be is by taking the RBA’s official cash rate and adding about 3% to it. Historically, the best crane finance interest rates usually sit around 3% above the RBA rate. For instance, if the RBA rate is 4%, the best rate in the market for crane finance will be about 7%. This rate will increase according to several factors which are transaction specific such as age of crane, time in business, whether you’re buying from a dealer or private seller, credit score, credit history, home ownership of the business owners and amount being borrowed. This makes sense as an established business buying a new crane from a dealer is a much better risk than a new venture buying a 20 year old crane from a private seller.

Banks generally cap the age of the cranes they will finance to around 15 years at the end of the finance term. However some specialist lenders will finance any age crane provided a written valuation can be obtained to support the value of the asset.

New venture finance can be arranged with no deposit for people who have significant experience in the industry, however, borrowers generally require 20% deposit, evidence of experience in the industry and a work source who is willing to vouch for the work they’re going to do with the new crane.

Financing a second hand crane is as easy as financing a new one and sometimes even easier as they can cost much less. To finance a second hand crane, you simply need to provide the full details of the crane, including any major addition or repairs done to it recently, along with your company and personal details. Once received your broker will confirm the lender is happy with your credit, the price of the crane and importantly the supplier you’re looking to purchase from. Where the supplier is a private seller there is a lot of checks and balances that need to occur in the background to ensure the vendor is legitimate and to minimize the risk of being caught up in a scam. A good finance broker will complete all of this paperwork on your behalf and arrange an inspection of the asset to verify the identifiers so you can rest assured every precaution has been taken in financing your crane.

Financing a crane from an auction is a simple process. Prior to the auction you can obtain a formal approval up to a certain dollar limit for the crane you’re looking to purchase. When the asset goes to auction you can then be confident in bidding up to the maximum amount you were approved for. On the fall of the hammer, your finance broker contacts the auction house for an invoice and usually within 48 hours the crane has been paid for.

Almost every lender offers a no financials crane loan product these days. The meaning of ‘no financials’ varies greatly between lenders however. The major banks all require some sort of business income verification such as profit and loss or BAS statements. If these are not available there are number of other niche lenders that will provide finance without any income verification at all.

Yes, it’s possible to refinance a crane loan. Before doing so, you should consider what it is that you’re looking to achieve. Refinancing a crane loan will generally lower the monthly repayment by stretching the remaining balance out over a longer term however, by doing this you’ll not only forego any prepaid interest on the loan but you’ll also pay more interest as you’ve taken the loan over a longer term which is not ideal.

Borrowing money against cranes you already own is a great way to raise cash for things that are harder and more expensive to finance. For instance, if you’re growing your business and need working capital to move into a new premises or employ more staff or even more commonly pay off large tax bills it can be very difficult to find funding and if you do, it’s likely going to be very expensive. By using the cranes you own as security you can raise money to put back into your business at a cheap rate without the long winded process of approaching the bank for an overdraft or business loan.

There are lenders who specialize in crane finance for people who have had credit issues in the past. These lenders charge a bit more for the privilege however if you need to get your credit back on track they are a great option to reestablish your credit rating so you can get back into cheap lending.

Cranes can be financed anywhere in Australia regardless of where the business is located and where the crane is located. To lower risk of the transaction it’s important to make sure either you or your representative views the crane beforehand to make sure it actually exists and that there’s no nasty surprises.

In a perfect world it can take as little as 2 hours for approval and settlement can occur the same day. In most cases we find it takes up to 48 hours for approval and settlement the day after a tax invoice is issued.