New Rock Drill Finance
New rock drill finance at cheap rates and flexible terms tailored to your business. Whether you're buying new or used from a dealer, private seller or auction, we structure your finance properly and negotiate a deal that's hard to beat anywhere else.
New Rock drill Finance Deals: Low Rates, Fast Approvals
As a trusted rock drill finance broker with a strong industry reputation, we help ABN holders secure finance for new and used rock drills with competitive rates, fast approvals and flexible loan structures. We help businesses, sole traders, trusts, companies, owner operators, owner drivers and self employed applicants find rock drill finance tailored to the way they operate.
We arrange finance for new and used rock drills purchased from dealerships, private sellers and auctions, with no deposit options, flexible terms up to 7 years and balloon payments available to eligible applicants. In many cases, the rock drill itself can provide the security for the loan, with no additional property or asset security required, subject to lender criteria.
For businesses wanting less paperwork, we offer no doc, low doc and lite doc rock drill finance up to $500,000 for eligible applicants. Depending on your circumstances, this can reduce the need for full financial statements and tax returns and help make the application process faster and simpler.
Speed matters when you’ve found the right rock drill. Same day pre approvals and approvals within 24 to 48 hours may be available on eligible applications, helping you move quickly when buying from a dealer, private seller or auction.
We’re known for delivering some of the lowest rock drill finance rates and repayments in Australia and regularly compete with and beat bank, dealership and broker quotes. Our reputation for being transparent and straightforward with lenders, combined with long standing lender relationships, gives us the ability to negotiate discounted rates, push for sharper pricing and secure faster approvals.
Our rock drill finance rate comparison service is free. We compare your options to find the best deal available for your circumstances, and if you decide not to proceed, there’s no cost to you. Where available, we can compare or assess your options without a formal credit application, meaning there may be no impact on your credit profile until you’re ready to proceed.
Whether you need a chattel mortgage, commercial hire purchase, finance lease or rent to own, we structure the finance around your business, cash flow and the rock drill you’re purchasing.
One application. Most competitive lender pricing across Australia. Fast approvals. One dedicated broker for this rock drill and every rock drill after that. No handovers or call centres.
Why finance with Overdrive Machinery Finance
Low Doc, Light Doc & Full Doc Machinery Finance
When applying for machinery finance, lenders will generally offer Low Doc, Light Doc or Full Doc options. The right choice depends on your business structure, trading history, and the type of machine you're purchasing.
| Feature | Low Doc Machinery Finance | Light Doc Machinery Finance | Full Doc Machinery Finance |
|---|---|---|---|
| Financial Statements Required | No | No | Yes |
| BAS Statements Required | No | Usually | Sometimes |
| Business Bank Statements | No | Yes | Sometimes |
| Approval Speed | Fastest | Fast | Standard |
| Interest Rates | Higher | Competitive | Most Competitive |
| Borrowing Capacity | Up to $500k | Up to $500k | Up to $10m+ |
| Ideal Outcome | Quick approval with minimal paperwork | Balance of flexibility and pricing | Best pricing and maximum borrowing power |
Which Option Is Right For You?
Need help deciding? Our finance specialists will assess your circumstances and recommend the most suitable asset finance solution for your business.
| If You Are… | Recommended Option |
|---|---|
| Self-employed or businesses with limited financial records | Low Doc |
| Businesses with bank statements and BAS available | Light Doc |
| Businesses with full financials | Full Doc |
Low Doc Machinery Finance
Low Doc finance is designed for borrowers who want a simple, streamlined approval process. In most cases, no financial statements or BAS statements are required. Approval is generally based on your ABN history, credit profile, and the asset being financed.
Light Doc Machinery Finance
Light Doc finance provides a middle ground between Low Doc and Full Doc lending. Borrowers can often qualify using recent business bank statements and limited supporting documentation, without the need for full financial accounts.
Full Doc Machinery Finance
Full Doc finance is suitable for borrowers who can provide complete financial records and supporting documentation. This option typically offers the most competitive rates and highest borrowing capacity.
New Rock Drill Finance — frequently asked questions
What is new machinery finance?
New machinery finance allows ABN holders, owner drivers and businesses to finance the purchase of a brand new rock drill for business use. Finance can be structured over an agreed term with repayments tailored around your business, cash flow and preferred finance structure.
What are the current new machinery finance interest rates?
New machinery finance interest rates generally start from around 6.40% to 6.75% p.a., depending on your credit profile, business history, loan amount, rock drill and wanted finance terms. New rock drills can often qualify for sharper rates because of their age and value as security. Our job is to compare 80+ lenders to find the lowest rate and repayments for your credit profile and wanted terms, then negotiate directly with lenders to get you the best deal possible. Rates are indicative only and subject to lender criteria, credit assessment, fees, terms and approval.
Why are new machinery finance rates often cheaper?
Brand new rock drills can attract lower finance rates because lenders generally consider a new asset to be stronger security than an older rock drill. Your actual rate will also depend on your credit profile, business history, financial position and finance structure.
How long can I finance a new rock drill for?
New machinery finance terms are generally available from 1 to 7 years, subject to lender criteria. The right term will depend on your preferred repayments, cash flow and how long you intend to keep the rock drill.
What finance options are available for a new rock drill?
New machinery loans can be structured using a chattel mortgage, commercial hire purchase or machinery finance lease. The right structure depends on your business, cash flow, ownership preferences and tax circumstances.
Can I finance the full purchase price of a new rock drill?
Yes, depending on your application. Some lenders may finance 100% of the new rock drill purchase price for eligible businesses, while others may require a deposit or contribution based on your credit profile and circumstances.
What types of new rock drills can I finance?
Finance is available for a wide range of new rock drills, including excavators, rigid rock drills, tippers and refrigerated rock drills, as well as trailers. Whether you’re buying your first rock drill, replacing an existing vehicle or expanding your fleet, we can compare suitable lenders for the purchase.
Can I finance a new rock drill directly from a dealership?
Yes. We can arrange new machinery finance for vehicles purchased through dealerships across Australia. You don’t have to use the dealership’s finance. We can compare 80+ lenders and negotiate lender pricing to find a competitive alternative.
Can a new business or first time rock drill buyer finance a new rock drill?
Potentially. Some lenders will consider new businesses and first time rock drill buyers, although the requirements can be different from those for an established business. Your ABN history, experience, credit profile, deposit and ability to service the finance may all be considered.
How do I get the cheapest new machinery finance rate?
Different banks and commercial lenders can offer significantly different rates for the same new rock drill. Our job is to compare 80+ lenders to find the lowest rate and repayments for your credit profile and wanted terms, then use our lender relationships to negotiate pricing for an even better deal where possible. This means you’re not restricted to the rate offered by your bank or rock drill dealership. We look across our lender panel to secure the best available new machinery finance rate and terms for your circumstances.
More Rock Drill finance options
Ready to get started?
Free quote in minutes, decisions in 24–48 hours. No obligation, no credit-score impact to enquire.
What Our Clients Say
★★★★★ 5.0 / 5 based on our Google reviews