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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.
Equipment Research
- Define exactly what you need the equipment to do — capacity, throughput, features
- Research multiple brands and models — avoid buying the first option you find
- Check parts, service and warranty availability in your region
- Research resale values — affects future finance and business exit options
- Get at least 3 quotes for new equipment to understand market pricing
Finance Pre-Approval
- Get finance pre-approved before you commit to a purchase — this confirms budget and gives you negotiating power
- Compare 80+ lenders through a broker for the most competitive equipment finance rate
- Understand the full cost of finance — monthly repayments, total interest, fees and any balloon
- Choose the right finance structure for your tax position — chattel mortgage, finance lease or operating lease
- Check if the equipment qualifies for instant asset write-off under ATO rules
Condition and Inspection
- Inspect the equipment in person before committing — photos alone are not sufficient for significant purchases
- Test the equipment under normal operating conditions wherever possible
- Check all safety systems, guards and compliance labels
- Inspect consumable parts — their remaining life affects the true cost of the purchase
- Ask for full service records and maintenance history
- Identify any non-standard modifications and assess whether they are compliant
Ownership and Title Checks
- Run a PPSR check — verify no finance encumbrances exist over the equipment
- Verify the seller has clear title to sell the equipment
- Check serial numbers match any documentation provided
- Request a written receipt or contract of sale
- For imported equipment — verify compliance with Australian Standards and import duties paid
Warranties and After-Sales
- Understand the warranty — manufacturer warranty vs dealer warranty vs no warranty
- Check if warranty is transferable from the original buyer
- Identify the nearest authorised service centre for the brand
- Ask about extended warranty options for high-value equipment
- Understand the parts supply chain — are parts available in Australia?
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.