One of the most common questions we get at Overdrive Funding is: can I get equipment finance without a deposit? The short answer is yes — zero deposit equipment finance is available, and a significant number of businesses qualify for it.
What Is No Deposit Equipment Finance?
No deposit equipment finance (also called 100% finance) means the lender funds the full purchase price of the equipment without requiring you to contribute a cash deposit. You take ownership (or use) of the asset immediately and repay the full amount plus interest over the agreed term. No real estate or property security is required — the equipment itself serves as collateral.
Who Qualifies for No Deposit Equipment Finance?
Zero deposit options are most commonly available to businesses that meet the following criteria:
- ABN registered for 2+ years with GST registration
- Acceptable credit history (no major defaults or judgments)
- Purchasing equipment within standard lender age limits — most lenders prefer assets under 10–15 years for zero deposit, though some specialist lenders place no restriction on asset age
- Loan amount within the lender's low doc threshold (typically up to $500k)
Businesses with a 1-day ABN, adverse credit history or purchasing older equipment may still qualify for zero deposit with certain specialist lenders, though conditions and rates will vary.
What Types of Equipment Can Be Financed with No Deposit?
No deposit equipment finance is available across a wide range of asset classes, including:
- Forklifts and pallet jacks
- CNC machines and manufacturing equipment
- Generators and compressors
- Medical and dental equipment
- Refrigeration and hospitality equipment
- Woodworking and fabrication machinery
- IT and technology equipment
- Agricultural equipment
Private sale and auction purchases are supported — you don't need to buy from a dealer. Pre-approval is also available before you find the equipment, so you can shop with confidence knowing exactly what budget you have.
Tips to Improve Your Approval Chances
To give yourself the best chance of approval with no deposit, ensure your bank statements show consistent cash flow, check your credit file before applying, and use a broker who can match your application to the right lender.
At Overdrive Funding, we compare 80+ lenders to find the best zero deposit equipment finance for your situation. Our service is 100% free — no upfront fees, no hidden charges.