Repayment Calculator
How much will the machinery finance cost you?
Use our simple machinery finance calculator to set the price, deposit, term and balloon for an indicative repayment. A guide to get you in the ballpark — the real number comes back once we've matched your deal to the right lender.
Machinery Finance Calculator
Enter your loan amount, term and balloon to estimate your weekly machinery finance repayments.
Loan term
Balloon / residual
Repayment frequency
Your indicative repayment
$3,005/month
≈ $692/week
7.49% p.a. · 5 years · 0% balloon
Loan principal: $150,000
Ready to see your true rate?
This is indicative at 7.49% p.a. Your actual rate depends on the machinery, your ABN history and credit profile. Get a personalised quote — no credit impact, no obligation.
Indicative only. Does not represent an offer of credit. Assumes 7.49% p.a. fixed, secured loan for business use. Does not include fees, charges or individual circumstances. Actual rate subject to lender criteria and credit assessment.
Understanding Your Machinery Loan Repayments
Use the guide below to understand how different factors affect your machinery finance repayments.
Interest rates for machinery finance
Rates generally sit between 7.20% and 10% p.a. depending on:
- Your credit profile and business trading history
- The age and condition of the machinery
- The loan amount and any deposit
- The loan term
- The finance structure — chattel mortgage, hire purchase or lease
Loan term considerations
Loan terms vary depending on the asset type and your business situation.
| Loan term | Advantages | Considerations |
|---|---|---|
| 1–3 years (short) | Less interest overall, faster equity build | Higher regular repayments |
| 4–5 years (medium) | Balance of repayment and total cost | Most popular for machinery finance |
| 6–7 years (long) | Lowest repayments, preserves working capital | More interest over the loan life |
Low doc, lite doc and full doc
Different documentation levels are available depending on your financial records.
| Documentation | Advantages | Considerations |
|---|---|---|
| Full doc | Sharpest rates and highest loan amounts | Requires tax returns and financial statements |
| Lite doc | Rates between full and low doc | May require BAS or bank statements |
| Low doc | Little or no financials — suits newer ABNs | Rates typically higher; deposit may be required |
Indicative rate guide
Rates shown are indicative only and subject to lender approval. Your actual rate will depend on your specific circumstances.
| Scenario | Indicative rate | Notes |
|---|---|---|
| New machinery | from 7.20% p.a. | Strong ABN, clean credit, eligible asset |
| Late-model used machinery | from 8.78% p.a. | Varies with asset age and borrower profile |
| Older machinery | case by case | Age limits apply — speak with Simon |
| Low-doc (established ABN) | from 7.49% p.a. | No financials required for eligible applications up to $500k |
| New ABN / start-up | case by case | Deposit or additional security may be required |
Indicative rates only and subject to change. Finance subject to lender approval and credit assessment. Overdrive Commercial Funding (ABN 87 659 049 895), ACL 389328.
Frequently Asked Questions
Common questions about machinery finance and how repayments are calculated.
How does the machinery finance calculator work?
Enter the machinery purchase price, deposit, preferred loan term, balloon and repayment frequency. The calculator estimates your repayment at an indicative 7.49% p.a. Actual rates and repayments depend on the lender, asset type, your business profile and credit assessment. Get a free quote for a real number.
What interest rate does the machinery finance calculator use?
The calculator uses 7.49% p.a. as an indicative rate. Actual machinery finance rates range from around 7.20% to 10% p.a. depending on your credit profile, ABN history, asset age and condition, loan amount and the lender. We compare 80+ lenders to find the most competitive rate for your circumstances.
Are the repayments in the machinery finance calculator accurate?
They are indicative estimates only. The calculator assumes 7.49% p.a. fixed and doesn't include fees, charges or your individual circumstances. Your actual repayment will depend on the approved rate, fees and final loan structure. A free quote provides a real number based on your specific application.
What is machinery finance?
Machinery finance allows businesses and ABN holders to purchase new or used machinery and equipment and repay the cost over an agreed term. Common structures include chattel mortgage, hire purchase and finance lease. The right structure depends on your business, GST position, cash flow needs and whether you want to own the asset outright.
What machinery finance rates are available in Australia?
Machinery finance rates typically start from around 7.20% p.a. for eligible applicants with strong ABNs and clean credit financing newer assets. Used and older machinery, or applicants with credit issues, may attract higher rates. We compare 80+ lenders and negotiate directly to find the most competitive rate for your situation.
What types of machinery can I finance?
We finance a wide range of machinery including excavators, bulldozers, cranes, forklifts, concrete pumps, graders, compactors, loaders, scrapers, trenchers, drilling equipment, asphalt pavers, agricultural machinery, manufacturing equipment, processing equipment, printing machinery and other commercial and industrial assets.
What is a balloon payment in machinery finance?
A balloon is a lump sum remaining at the end of the loan term. Including a balloon reduces your regular repayments during the term but leaves an amount to pay out, refinance or trade the asset against at expiry. Balloons are widely used in machinery finance to manage cash flow.
How does the loan term affect my machinery finance repayments?
A longer term reduces regular repayments but increases total interest paid. A shorter term means higher repayments and less interest overall. Machinery finance terms typically run from 1 to 7 years depending on the asset type, age and lender. We can model different terms to find the right balance.
How much can I borrow for machinery finance?
Low doc machinery finance is generally available up to $500,000 without financial statements. Full doc lending can extend significantly higher for major plant and equipment purchases. Your borrowing capacity depends on your business financials, credit profile, trading history and the lender.
Can I get machinery finance with no deposit?
Yes. Eligible applicants can qualify for 100% machinery finance with no deposit. Eligibility depends on your ABN history, credit profile and business trading background. Newer machinery from businesses with strong profiles generally has the best chance of a no-deposit approval.
Can I get low doc machinery finance?
Yes. Low doc machinery finance is available to eligible applicants without requiring full financial statements. Depending on the lender and loan amount, approval may be based on ABN history, credit profile and the asset. Low doc is typically available up to $500,000. We confirm what documentation is needed before submission.
What documents do I need for machinery finance?
Requirements vary by lender and documentation type. Low doc may require only ABN details and ID. Lite doc may need BAS or bank statements. Full doc requires current tax returns and financials. We confirm exactly what's needed so you're not chasing unnecessary paperwork.
Can I finance used or older machinery?
Yes. We arrange finance for new, used and older machinery. The asset's age and condition influence lender options. Age limits vary by lender and asset type. We match your machinery to the most suitable lenders from our panel and compare available options.
How quickly can machinery finance be approved?
Same-day approvals are possible for straightforward applications with strong profiles. Most approvals come within 24–48 hours. Pre-approvals are valid for 90 days, giving you confidence to negotiate with sellers. We work to match your application with the right lender from the start.
Does applying for machinery finance affect my credit score?
Getting a quote through Overdrive Funding has zero credit impact. A formal credit inquiry is only submitted once you approve the loan details and give us the go-ahead. We can compare multiple lenders using soft-touch approaches before any formal submission.
What finance structures are available for machinery?
Common structures include chattel mortgage, commercial hire purchase, finance lease and rent-to-own. The right choice depends on your GST position, whether you want ownership, your tax position and cash flow needs. We explain the differences and recommend the best structure for your business.
What is a chattel mortgage for machinery finance?
A chattel mortgage is one of the most common commercial finance structures. You own the machinery from settlement, and the lender registers a mortgage over the asset as security. You may be able to claim GST upfront through your BAS and claim interest and depreciation as deductions. Check with your accountant.
Can a new business get machinery finance?
Some lenders consider new or recently established ABNs. Industry experience, credit profile, deposit contribution, evidence of work or contracts and the machinery being purchased all influence your options. A deposit is generally required for new ABNs. We assess your situation and identify the most suitable lenders.
Can I get machinery finance with bad credit?
Yes. We work with lenders that consider a broad range of credit profiles. Your full picture — business history, the asset, deposit and ability to service the loan — is taken into account. Bad credit doesn't automatically disqualify you, and we'll explore every available option for your situation.
Should I enter the machinery price inc or ex GST?
If you expect to claim the GST back through your BAS (common under a chattel mortgage), enter the ex-GST price. If you can't claim GST or are using a different structure, enter the full purchase price. Always confirm with your accountant what applies to your situation.
Can I finance machinery attachments and accessories?
Depending on the lender and transaction, attachments and accessories that form part of the primary asset purchase may be included in the finance. Stand-alone accessories or additions may be assessed separately. We structure the finance to cover what your business needs.
Can I get machinery finance if I'm self-employed?
Yes. Self-employed ABN holders and sole traders are eligible for machinery finance. Documentation requirements depend on your trading history, credit profile and the loan amount. Low doc options are available for established self-employed applicants who prefer not to provide full financials.
Can I refinance existing machinery finance?
Yes. If you have existing machinery finance with a high rate or unfavourable terms, we can compare your current position against what's available across 80+ lenders and work to reduce your rate or repayments. Contact us to discuss your current loan details.
How do repayment frequencies compare in machinery finance?
Weekly and fortnightly repayments result in slightly more payments per year than monthly, which can marginally reduce total interest. The most important factor is matching the frequency to your business cash flow. Use the calculator to compare weekly, fortnightly and monthly options side by side.
How do I apply for machinery finance through Overdrive Funding?
Click 'Free Quote' on this page and complete the short form — it takes a few minutes with no credit impact. Simon reviews every enquiry personally and responds within 30 minutes during business hours. We compare 80+ lenders, confirm rates and structure your application through to approval and settlement.
Lending Panel
Access to 80+ Lenders In One Place
Access to Australia's leading commercial lenders lets us compare the market and tailor competitive, flexible finance solutions to each client's unique needs.
