Quick answer: Excavator finance lets you buy a new or used excavator and spread the cost over a set term instead of paying cash up front. Most tradies and civil businesses use a chattel mortgage or equipment loan, often with a balloon to keep repayments lower. You can finance machines from mini-excavators to 20-tonne diggers — through a low-doc or full-doc application depending on your paperwork. Built for tradies, but we finance everyone.
Who excavator finance is for
Owner-operators, civil and earthmoving contractors, landscapers, plumbers and demolition crews — anyone who needs a digger working on site rather than sitting on a wishlist. Whether you hold a fresh ABN or you’ve been trading for years, there’s usually a finance path. And it’s not just tradies: hobby farmers, acreage owners and side-hustle operators finance excavators through us too.
What you can finance
- New excavators — dealer or manufacturer purchases, including attachments (buckets, augers, rippers, tilt hitches).
- Used excavators — private sale or dealer; older machines can still be financed, though term and deposit may adjust with age and hours.
- Mini and midi excavators (1–8 tonne) right through to large earthmovers (20 tonne+).
- Attachments and tilt buckets bundled into the one facility where it makes sense.
How excavator finance works
Most excavators are financed with a chattel mortgage (the business owns the asset from day one and the lender takes security over it) or a straightforward equipment loan. You pick a term — commonly 3 to 7 years — and you can add a balloon (a lump sum at the end) to bring weekly repayments down. Because the machine is the security, rates for commercial asset finance are typically sharper than an unsecured loan.
Want a ballpark before you talk to anyone? Run the numbers on our equipment finance calculator — set the amount, term and balloon and it estimates your weekly, fortnightly and monthly repayment in seconds. It’s an estimate, not a quote — but it’s a good starting point.
Example scenario
A landscaper buys a used 5-tonne excavator for $55,000 on a 5-year chattel mortgage with a 20% balloon. The balloon keeps the regular repayment lower through the term, then they either pay it out, refinance it, or trade the machine in. The exact figure depends on the lender, your profile and the machine — a broker matches you to the right one rather than you chasing banks one at a time.
New ABN or low-doc? Still worth a call
Two things tradies worry about most: not enough trading history, and not enough paperwork. Neither is an automatic no.
- New ABN: some lenders fund newly-registered businesses, especially when you’ve got industry experience or a deposit.
- Low-doc: if your financials aren’t up to date, low-doc options can use bank statements, BAS or asset position instead of full tax returns.
We’ll tell you honestly where you stand and what will strengthen the application — that’s the point of using a broker.
Why finance an excavator instead of paying cash
- Keeps working capital free for wages, materials and the next job.
- Potential tax benefits on business-use asset finance — check with your accountant as it depends on your structure.
- Lets you take on bigger contracts sooner instead of waiting to save.
Excavator finance FAQs
Can I finance a used excavator?
Yes. Used excavators are financed every day — including private-sale machines. Age and hours can affect the maximum term and the deposit a lender wants, but a well-maintained used digger is a normal, fundable asset. A broker will match the machine to a lender comfortable with its age.
Can I get excavator finance with a new ABN?
Often, yes. Some lenders fund new ABN holders, particularly if you have relevant industry experience, a deposit, or a strong asset position. It’s assessed case by case and subject to lender approval — the fastest way to know is to ask us for a read on your situation.
What term can I get on excavator finance?
Terms commonly run from 3 to 7 years. A longer term lowers each repayment; a shorter term saves interest overall. Adding a balloon reduces the regular repayment but leaves a lump sum owing at the end. The right mix depends on your cash flow and how long you’ll keep the machine.
Do I need a deposit?
Not always. Many commercial asset finance facilities are available with no deposit, subject to approval. A deposit or trade-in can help with a newer ABN, an older machine, or to reduce the amount financed. We’ll tell you what genuinely helps your application.
How much will my repayments be?
That depends on the price, term, balloon, rate and your profile — so we don’t quote a guaranteed figure up front. For an indicative estimate, use our equipment finance calculator, then speak to us for a real assessment.
Get your excavator working sooner. Fast approvals, less paperwork, and a finance package built around your job — not the bank’s.
Written and reviewed by the Finance Director at Tradie Finance.
This article is general information only and does not constitute credit or financial advice. Tradie Finance operates under Australian Credit Licence 506065 (Five Tees Pty Ltd). Lending is subject to approval, lending criteria, terms, conditions and fees. Estimates are indicative only and not a quote or an offer of finance.