How Does the Process Work When Financing An Excavator?

Step 1

Client to complete online pre-approval form or have a short 5-minute conversation with one of our finance experts to ascertain what work they do, what type of equipment they are after and how long they have been in business. During this conversation they will need to provide application particulars relating to the business and the business owners.

Step 2

The Finance Broker assesses the clients capacity to repay the debt – i.e. are financial statements available, are business bank statements available for the last 3 months, will the deal be a low doc with no financials or will a cashflow projection need to be prepared? A good Broker will manage this process for you.

Step 3

Once the above items have been collected, the Broker will be in a position to package a submission and offer a formal finance approval that will best suit the client’s specific situation. In most cases client is offered conditional approval within 24 to 48 hours.

Step 4

Conditional approval provided to customer and invoice requested from supplier.

Step 5

Documents are prepared and sent to client for signing either via email or the customer will be signed up in person.

Step 6

The deal is referred for settlement, the supplier of the excavator is paid and client can then take delivery of the excavator! Funding to supplier is in most cases completed within 24 hours.

Step 7

Post settlement pack sent out including a copy of the supplier tax invoice and the contract so client can provide their Accountant at tax time.

Make this Process Easy

To take advantage of our simple application process please contact one of our Consultants on 1300 788 740 or input your details into our online pre-approval page on our web site. Alternatively, you can send us a quick quote request and someone from our office will be in contact to take down your details.

Below is a list of just some of the Excavators that we have Financed in times past:

Caterpillar Earthmoving Machinery

Hitachi Earthmoving Machinery

Komatsu Earthmoving Machinery

Kobelco Earthmoving Machinery

Volvo Earthmoving Machinery

Please also click on our Lease Finance Calculator to ascertain what the weekly payments would be on a particular piece of machinery you are looking to purchase.

If from there you are looking to put an immediate finance approval in place, please input your details into the  page of our site.