Businesses across Victoria looking to finance heavy machinery and equipment have two main choices: go directly to a bank and accept whatever rate they offer, or use a specialist machinery finance broker who compares the entire market on your behalf. For VIC businesses, using a broker almost always results in a lower rate, faster approval and less paperwork — and the service is 100% free.
Machinery Finance in Victoria — What Businesses Need to Know
Victoria is one of Australia's most diverse and productive state economies with major manufacturing and freight activity. Demand for machinery finance across Victoria is strong, particularly in the manufacturing, transport, logistics and civil construction industries. VIC businesses that use a specialist machinery finance broker gain access to 80 or more lenders — including major banks, non-bank commercial lenders and specialist heavy equipment and civil construction funders — compared to the single rate offered by most bank branches.
What Heavy Machinery And Equipment Can Be Financed in Victoria?
Through Overdrive Funding, VIC businesses can arrange finance for excavators, bulldozers, graders, rollers, compactors, articulated dump trucks, cranes, telehandlers, forklifts, screening plants and all heavy plant. New and used assets are both eligible, including dealer purchases, private sales and auction buys anywhere in Victoria. Low-doc finance is available up to $500,000 with minimal paperwork.
Machinery Finance Rates in Victoria
Machinery Finance rates for VIC businesses currently range from approximately 6.1% to 15% per annum, depending on your credit profile, ABN history, asset age and the lender. Established Victoria businesses purchasing new assets with strong financials typically access rates from 6.1% upward. A broker who understands the Victoria market and has access to specialist heavy equipment and civil construction lenders can often achieve significantly better terms than a borrower would receive going direct.
How It Works — One Application, 80+ Lenders
Overdrive Funding Director Simon Kendrick works directly with VIC businesses from initial enquiry through to settlement. You submit one application, we assess your situation, select the most suitable lenders from our panel of 80+, negotiate the best rate and manage all paperwork through to settlement. Most applications are assessed within 24 to 48 hours. There are no fees, no hidden costs and no obligation.
Whether your business is based in Melbourne or anywhere else across Victoria, Overdrive Funding provides the same personalised, direct service. Contact us today for a free, no-obligation machinery finance quote.