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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.
Excavator Research
- Identify the right size class — mini (1-8T), mid-size (8-25T) or large (25T+)
- Research the brand — Caterpillar, Komatsu, Hitachi, Volvo, Kobelco and Hyundai are most common in Australia
- Check parts and service availability for the specific model in your region
- Research resale values for the specific model — affects future finance options
Finance Pre-Approval
- Get excavator finance pre-approved before you start inspecting — confirms budget
- Compare 80+ lenders through a broker for the most competitive rate
- Factor in lender requirements for older machines — some lenders have age or hour restrictions
- Consider the total cost of finance including balloon, fees and interest
Engine and Machine Hours
- Check the actual machine hours on the ECM (Electronic Control Module) — not just the dash display
- Research typical overhaul intervals for the specific model — what life is left?
- Check engine oil — level, colour and consistency
- Start cold and watch for white, blue or black smoke at startup
- Listen for engine knocks, rattles or unusual noises at idle and under load
- Check coolant and hydraulic fluid levels and condition
Undercarriage Inspection
- Undercarriage is the most expensive maintenance item on any excavator — inspect carefully
- Check track chain wear — look for stretched links and worn pins
- Check track pads — rubber pads for wear, steel pads for cracks
- Check rollers, carriers and idlers for flat spots, cracking and seal leaks
- Check the sprocket teeth for wear — sharp or hooked sprocket teeth indicate high wear
- Estimate undercarriage remaining life as a percentage — affects buy price significantly
Hydraulics and Boom
- Cycle all hydraulic functions — boom, arm, bucket, slew, travel
- Check for drift — boom, arm and bucket should hold position under load
- Inspect all hydraulic hoses and fittings for leaks, chafing or damage
- Check hydraulic cylinders for oil weeping or seal failure
- Inspect pins and bushes on boom, arm and bucket — check for excessive play
Documentation Checks
- Request full service history — stamps or digital records
- Run a PPSR check — check for finance encumbrances
- Verify the machine serial number matches any documentation
- Check for any major repair records — engine rebuilds, undercarriage replacement
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.