Key highlights
- A skid steer earns across many tasks, supporting repayments easily
- Financing keeps cash free for materials, wages and attachments
- Interest and depreciation may be deductible, subject to circumstances
- One application compares 80+ lenders for competitive terms
A skid steer is one of the most versatile machines on site, and financing one is usually worth it because it lets you put the loader to work straight away while keeping your cash for materials, wages and running costs. With the right attachments, a skid steer earns across many jobs, so repayments are comfortably covered by the work it does. Overdrive Machinery Finance compares 80+ banks and non-bank lenders on one application, helping you see whether financing beats paying cash for your situation.
Why financing a skid steer usually pays off
Because a skid steer is so versatile, it tends to stay busy, and a busy machine is exactly the kind that suits finance. Rather than paying a lump sum up front, you spread the cost over the years the loader works across landscaping, construction, farming and civil tasks. That keeps your cash available for the attachments that make the machine truly useful, plus fuel, transport and payroll. For smaller operators in particular, protecting working capital often matters more than owning the machine outright, because liquidity lets you take on new jobs and ride out quiet patches without strain.
Finance versus buying with cash
Paying cash saves interest, but it also ties up funds a growing trade business often needs elsewhere. The better comparison is the cost of finance against the value of keeping that cash working or in reserve. Rates start from around 6.55% p.a. for strong, asset-backed deals, while lower-doc, older or cheaper machines and weaker credit are priced higher, so figures are indicative and subject to lender assessment. Terms typically run from one to seven years, and balloon or residual options can lower your monthly repayment on a skid steer. For eligible applicants, same-day pre-approval and settlement within 24 to 48 hours may be possible, so you can grab the right machine quickly. Focus on total cost across the term rather than the headline monthly figure.
Tax and GST in general terms
The finance structure you choose can shape your tax position on a skid steer. Depending on the product, interest and depreciation may be deductible, and GST is handled differently under a chattel mortgage, lease or rental. Attachments bought at the same time can sometimes be bundled into the facility, which may also carry tax implications. These are general points only, not tax advice, so check with your accountant about how depreciation or any instant asset write-off applies to your business. A quick conversation before you buy can improve the after-tax cost meaningfully.
What makes it worth it for you
The value of financing a skid steer depends on how often it will run, the machine's age and hours, your deposit and your business strength. A newer, well-kept loader from a known brand is easier to fund on sharper terms, while older or high-hour units may be priced higher. Your trading history, GST registration and any current commitments all influence a lender's view. Because criteria vary so much between lenders, the same application can return very different offers, so comparing the market is the practical way to confirm the numbers work for you.
If a skid steer is on your list, seeing the finance figures alongside the cash cost makes the decision clearer. Overdrive Machinery Finance compares 80+ lenders on one application and can talk through your options. Request a free quote to get started with clear, hedged numbers.
Frequently Asked Questions
Can I include attachments in skid steer finance?
Often yes, as buckets, augers, grapples and other attachments bought with the machine can sometimes be bundled into the one facility. This spreads their cost too. Availability depends on the lender and the total amount, so it is worth asking when you compare offers for your skid steer.
Can I finance a used skid steer?
Yes, used skid steers are commonly financed, though age and hours affect the term and rate. Well-maintained machines from recognised brands are easier to fund. Older or high-hour units may attract higher pricing or a shorter term, subject to the lender's assessment of the asset.
How much deposit do I need for a skid steer?
Some lenders fund the full purchase with no deposit for eligible, asset-backed applicants, while others prefer a contribution. A deposit can improve your rate and approval chances. The right amount depends on the machine, your profile and the lender, so comparing options is worthwhile.
Is a skid steer worth financing for a small business?
Often yes, because financing keeps cash free for materials and wages while the versatile machine earns across many jobs. It works best when the skid steer stays reasonably busy. If use will be occasional, hire may suit better, so weigh expected utilisation before committing.
Ready to compare cheap rates?
Free quote in minutes, decisions in 24–48 hours. No credit-score impact to enquire.