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Key Takeaways
- Always get finance pre-approved before you commit to buying — it gives you certainty on budget and negotiating power.
- Run a PPSR check on any used equipment to confirm there are no finance encumbrances.
- Inspect the equipment in person — photos and descriptions alone are not sufficient for large purchases.
- Compare 80+ lenders through a broker for the most competitive finance rate.
- Equipment finance deals: We guarantee the best deal available in the market and our services are free — we're paid a "referral fee" by the lender after settlement, no cost to you.
Research and Shortlisting
- Decide on new vs used — consider warranty, price, finance rates and availability
- Research the specific model — known issues, service intervals, parts availability
- Identify multiple options before committing — compare at least 3 trucks
- Check estimated running costs — fuel, tyres, servicing for your specific operation
Finance Pre-Approval
- Get finance pre-approved before you buy — this gives you certainty on budget and puts you in a stronger negotiating position
- Compare lenders through a broker — 80+ lenders give you the best chance of the lowest rate
- Understand the total cost of finance — not just the monthly repayment, but total interest, fees and balloon
- Choose the right finance structure — chattel mortgage, finance lease or CHP depending on your tax position
Inspection Checklist
- Check engine oil — level, colour and smell (milky oil indicates coolant contamination)
- Check coolant and all fluid levels
- Start the engine cold — listen for knocks, rattles or excessive smoke on startup
- Check all gauges — temperature, oil pressure, air pressure
- Test the air system — brake air pressure buildup time and any air leaks
- Check tyres — tread depth, even wear patterns, sidewall damage
- Check brakes — pad thickness, drum condition and brake adjustment
- Check the gearbox — smooth shifts, no jumping out of gear
- Inspect the chassis — cracks, repairs, alignment and rust
- Check cab condition — seat, controls, windows, mirrors and HVAC
- Test lights — headlights, indicators, brake lights, reverse lights and marker lights
Documentation Checks
- Request full service history — stamp books or digital service records from dealer/manufacturer
- Run a PPSR check — Personal Property Securities Register to check for finance encumbrances
- Check registration — current rego, expiry date and state
- Verify the VIN/chassis number matches registration and compliance plate
- Request roadworthy or safety certificate if applicable in your state
- Check compliance plate for GVM, GCM, axle ratings and any modifications
Get Pre-Approved Before You Buy
The single most important step before buying any commercial equipment is getting your finance pre-approved. Pre-approval confirms your budget, gives you negotiating power and prevents the situation of finding the perfect machine only to discover you cannot get it financed. At Overdrive Funding, we compare 80+ lenders and can provide pre-approval in as little as 24 hours — call Simon or fill in the form above.