From 1.5-tonne mini excavators to 50-tonne full-size machines, excavator finance is one of the most common commercial asset finance requests we handle at Overdrive Funding. Whether you're a civil contractor expanding your fleet, a landscaper buying your first machine or an earthmoving business replacing aging plant, here's everything you need to know.
What Is Excavator Finance?
Excavator finance is a commercial loan or lease used to fund the purchase of an excavator for business purposes. The machine itself serves as security — no real estate or property security is required. You repay the amount plus interest in regular monthly instalments over an agreed term (typically 36–84 months).
What Types of Excavators Can Be Financed?
- Mini excavators — 1.5t to 5t (landscaping, plumbing, residential)
- Midi excavators — 5t to 10t (civil, drainage, commercial)
- Full-size excavators — 10t to 50t+ (civil, mining, earthmoving)
- Long-reach excavators
- Amphibious excavators
- Used and older excavators (specialist lenders available)
Low Doc Excavator Finance
For excavators up to $500,000, low doc finance is available to most businesses with an ABN. You typically need just your ABN, driver's licence and 3–6 months of bank statements. No tax returns or full financials required. Some specialist lenders can extend low doc approval beyond $500,000 with BAS statement support.
Do I Need a Deposit?
Not necessarily. For well-qualified applicants with 2+ years GST registration and a clean credit profile, zero deposit excavator finance is available. If you have a shorter ABN history or are purchasing an older machine, a 10–20% deposit may be required. Some specialist lenders on our panel have no age restrictions on excavators — they assess the machine's condition and value, not just its age.
New vs Used vs Private Sale
New excavators attract the most competitive rates and are easiest to get zero deposit approval on. Used excavators can be financed on competitive terms — lenders assess the age, hours and market value. Private sale and auction purchases are fully supported across our lender panel. You don't need to buy from a dealer.
What Rates Should I Expect?
Excavator finance rates typically range from 6.1% to 15% p.a. depending on your credit profile, ABN age, the age of the machine and the loan term. Well-qualified applicants with 2+ years GST and a clean credit file will generally be at the lower end of this range. Getting pre-approved before you start shopping lets you know exactly what budget you're working with.
Overdrive Funding compares 80+ lenders to find the right excavator finance for your situation. Our service is 100% free — contact us for a same-day comparison.