WHAT WE FINANCE > MACHINERY & EQUIPMENT > EXCAVATOR FINANCE

Excavator Finance

Securing Excavator Finance is something we take a huge amount of pride in at Yakka Finance and we have become market leaders in this space across Australia. We want to be the best in the Excavator Finance market so there is no need for our customers to look anywhere else.

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EXCAVATOR BRANDS

Which excavator brands do we finance?

We want to support every business that values having the right finance partner supporting their business long term. All without you having to lift a finger. We want to service every business across Australia in a way they have never been managed before and better than a Bank Manager ever could.

We are an award-winning Excavator Finance Brokerage due to our large volumes of Excavators we finance.

Our goal is not to just finance one excavator for you. As a business we want to support your business long term and help you secure the most cost-effective excavator loan on every single excavator purchase your business ever has to make.

Whether the excavator is new or used, sold privately or through a licensed dealership we will make sure the job gets done the right way for you.

Keep your business moving with low rates

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What’s our promise to you?

Want a long-lasting finance relationship for years to come? We promise we are painless to deal with, our service is convenient and cost-effective. We will always handle the entire application process for you with all the relevant parties including the likes of your Dealership, Private Seller, Accountant or Insurance Broker. We just want you to focus on running your business and we will take care of the finance.

We know how to strategically get the most out of every bank and lender across Australia to grow your civil, landscaping or earthmoving business the right way.

Quick & Clear Approval Process

No Long Application Forms

Approvals with No Financials Available*

Relationship Focused and Lifetime Support on All Your Loans

No Deposits Required*

Award Winning Excavator Finance Brokerage

Market Leading Interest Rates

Expert Knowledge on Excavators

*Conditions apply. Subject to credit approval.

The Team at Yakka Finance are available at all hours to take your call. Please contact our Excavator Finance Specialists on 1300 842 911 or by email at info@yakkafinance.com.au for a quote today!

Strong Relationships & Exceptional Service

Our customer relationships are built on trust, expertise, and communication. We take the stress out of the finance application process for you by providing a prompt, reliable and personalised service.

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Fast Approvals: We specialise in securing quick finance approvals, ensuring you experience minimal waiting time.

Streamlined Process: We offer a hassle-free and streamlined process from application through to settlement.

After-Hours Assistance: We are available to assist you after hours, ensuring you receive continuous support and exceptional service that you have never experienced before.

OUR LENDERS

Trusted by over 60 lenders with hundreds of loan products

Have you been searching for the right excavator finance brokerage that has deep understanding of earthmoving and civil construction and speaks your language about how your business operates?

We not only know how to finance diggers, but we know the specifications of the machines, so you can trust our experts to provide reliable advice.

FREQUENTLY ASKED QUESTIONS

Our most commonly asked excavator finance questions answered below:

Why should I used Yakka Finance to help with my excavator purchase?

Yakka Finance are specialists in Excavator Finance. We know the industry back to front and are knowledgeable on securing the right loans for them. We take the time to know every bank’s interest rates and lending policies to make your application process informative, cost effective and effortless. Having one point of contact for all your excavator purchases is a great feeling and we pride ourselves on delivering on that promise.

When comparing us against the banks we can secure the exact same interest rates for you. We strategically secure the right loan approval without you filling out a large number of application forms and without the delays or lack of communication a Bank Manager will provide to you.

The Yakka Finance difference is we handle everything for you for all your excavator purchases so you can simply keep running your business.
Do I have to pay you for your services?
What types of excavators do you finance?

We can finance any excavator you are looking to purchase for your business. We can finance 1.7 tonne excavators all the way up to 50 tonne excavators. Please know that no matter what excavator you are looking to purchase we will have the perfect finance solution for you.
How do I apply for my excavator finance?

We pride ourselves on making excavator finance hassle free with as minimal paperwork as possible. Every finance application is unique to us and that’s starts with getting to know you and your transport business.

Simply give our specialists a call on 1300 842 911 and they will have a five-minute phone call to run you through the strategy for your approval and the key items we will need. The best part is due to our experience will be able to give you a good estimate of what kinds of rates and repayments will be over the phone in our introductory call.

Please don’t feel that you will need to give us a mountain of information. We strategically know exactly how to secure your excavator finance approval with only the key important items required. You will be pleasantly surprised at how little information we can sometimes require and still have you approved with a major bank for your excavator loan.
Do I need to have my Financials or Tax Returns completed to get an excavator finance approval?

Absolutely not! Yakka Finance has access to a wide variety of low documentation finance offers that the major banks and other financiers offer us to secure your approval. Please don’t feel like you have to provide us with a lot of information in order to secure your excavator finance approval. When we speak to you over the phone, we will know exactly what key items to obtain from you to secure your finance approval. It might surprise you on how little information we need.

Other key items we can utilise include a Good Finance Reference on one of your other Loans, recent BAS Statements or Bank Statements just to name a few examples instead of having to provide your financials.
What is Low Doc Excavator Finance? Do you do it?

Yes, we do! Low Doc Excavator Finance means we only need a very small amount of documentation to secure your excavator finance approval. We have Low Doc Excavator Finance options up to $500k!

Our specialists can run you through how easy it is to secure a Low Doc Excavator Finance approval over the phone in 5 minutes. Feel free to call us on 1300 842 911 to find out how little documentation we need for your excavator loan approval.
How much can I be approved for?

You can borrow as much as you need for the full purchase of the excavator of your choice. For Excavator purchases this is normally from $20,000 up to $2,000,000 depending on your excavator and how many units you are purchasing. Some banks and lenders will require deposits whilst others won’t. We will find out exactly what you’re purchasing and walk you through the strategy of what is required on your excavator finance approval depending on your total loan amount.
What’s your interest rates?

This is a very common question that is always essential to ask. We love this question as we have managed to secure market leading interest rates that start from 2.69% for brand new excavator purchases.

The key thing here is that every customer is different, and all are in a different stage of their business journey. Our biggest goal at Yakka Finance is we want to look after you and your business for the lifetime that you are trading. That means we want to finance every single excavator your business ever purchases.

The only way we have so many loyal customers is our service is great and we can secure market leading interest rates. If our interest rates were high, we would never ever have the amount of loyal business owners that use our services every single day.

The big advantage for you and your business is because of the volumes of excavators we finance and the quality of our application submissions we are offered preferential interest rates from the banks that not all finance brokerages are able to secure. This is a big advantage to our business to keep our customers happy but also a huge advantage to your business.
What influences the interest rate?
There are many factors that can influence the interest rate on the excavator you have decided to purchase.

Here are some key considerations that can influence the interest rate:

How long you have been in business for? (E.g. Brand New Business or an established business trading for over 2 years)

If you are purchasing your Excavator from a Licensed dealership or from a Private Seller

What the specific year build the excavator is. For example, a brand new Komatsu Excavator or near new Komatsu excavator would secure a much lower interest rate compared to a excavator that is much older such as 2003 Komatsu year build excavator.

If you or your spouse is a Property Owner or if you are currently renting

Your total excavator loan amount. The higher the excavator loan amount the lower the interest rate can be.

If you have had excavator or equipment finance before and if your repayment history has been good or bad

If you have a clean credit file or a credit file with a low score
Can you finance older excavators?
How long does it take for my excavator finance to be approved?

We can usually obtain an excavator finance approval within 24 – 48 hours of receiving all your details. Let us know your timeframe and we will work with you to get the excavator approved and settled with the most appropriate lender due to the time you are needing your new excavator by. The bigger the excavator loan amount (Above $250,000) can sometimes slow the application process down by a day or two as more documentation needs to be assessed and put together with the bank for your approval.
How long can my loan term be for excavator finance?

The average excavator loan term is between 3-7 years (36 to 84 months). The choice of loan term is ultimately your choice. The shorter the term would result in a higher monthly repayment as you are paying the loan off on a shorter loan period. If you every want to play around with what Loan Term works for you on your excavator.

Have a play with our easy-to-use Excavator Finance Calculator – https://yakkafinance.com.au/finance-calculator/
What is a balloon payment? Do I need one?

A balloon payment is a lump sum which is owed to the lender at the very end of your excavator loan term, after all your regular monthly repayments have been made. It allows you to repay only part of the principal amount of your excavator loan over the term you request. The reason for having a Balloon Payment is that it allows you to lower your monthly repayments for cashflow purposes.

When it comes to end of your loan contract, and you will still have your Balloon Payment to deal with. It is easy to refinance your balloon payment at the end of your loan. Alternatively, you can trade the excavator in for a new one or sell your excavator to another party which if structured correctly should be more than the balloon payment you owe.

It is completely your choice whether you want a balloon payment in your loan structure to reduce your monthly repayments or not. We can workshop this with you to make sure the repayments suit you and your business.
Why don’t I finance the excavator through the excavator dealership? Isn’t it cheaper with 0% Finance?

You will find that specific brands such as Komatsu, Kubota, Hitachi will market it their own 1.99% or 0% Finance Offers. Now this is available in the market. However, you will find this is strategically done by brands to get customers to focus on the low rate and not the high price of the actual machine. The offer for the Low Interest Rate is built into the price of the actual excavator and is a clever marketing tool to feel like you are getting a great deal.

Sometimes, honestly, the offers can be a great deal and we will tell our clients to go with that offer. On other occasions there have been horror stories where an excavator price is highly inflated to accommodate the low interest rate.

You will also find with Dealer Finance (e.g. Volvo Financial Services) you have a very limited amount of options in regards to a finance offering. This can result in a very set loan structure that can’t be changed e.g. Short Loan Term or No Balloon amount. This can result in very limited flexibility and not allow you to secure the best deal that fits the cashflow of your business.

We are more than happy to offer our advice and let you know if your Excavator Finance approval is competitive or not. Just call us on 1300 842 911.

We wrote an article on this and you are welcome to check it out – https://yakkafinance.com.au/2019/10/14/how-does-0-finance-even-work/
Can I buy my excavator from someone selling their excavator privately?

Yes, financing an excavator from a Private Seller is very common and we do these types of transactions all the time. Business owners love finding a great deal on an excavator privately. We will handle the whole entire sale process with the private seller for you and arrange for them to get paid by the bank or financier correctly.

This process is very streamlined for us, and we only require the agreed price you have negotiated with the private seller on your excavator. We will then handle the whole entire process from there.
Do I need to inspect the excavator before I purchase it?

It’s generally recommended to make sure you are happy with the excavator’s condition before buying. Especially if you are purchasing through a private seller. When it comes to Private Sales, most finance companies will require a third-party finance inspection on the excavator to make sure the excavator’s asset identifiers (Serial Number & Engine Number) matches the Tax Invoice before the bank will settle on it.

We simply will book a Finance Inspection for you (or inspect the excavator ourselves) to take photos of the Front, Back, Sides, Engine Hours and Compliance Plate of the excavator to make sure it all matches your loan documents, registration papers and Tax Invoice so we can move through to settlement with no hassles.

We also complete a PPSR search on the excavator to make sure the excavator is not a write off or has been stolen. You are welcome to also do a mechanical inspection on the excavator (at additional costs) to make sure the excavator is mechanically sound just to make sure you are completely comfortable on moving ahead with the excavator purchase. We can also book in a excavator mechanical inspection for you if you don’t know who to contact.
I’m looking at a used excavator. Can you help me with excavator finance?

Yes! Whether it is a new or used excavator we offer a tailored finance solutions for all excavators new or used. We have a wide variety of banks and lenders that will comfortably finance used excavators for you and your business. You tell us what excavator you would like to purchase. We will then match that excavator with the most appropriate bank or lender for you that has an appetite to approve older excavators.
I got an excavator loan quote elsewhere it seems expensive – can you beat it?

This is one of our favourite things to do. Yakka Finance has access to the most cost-effective interest rates in the market. So given the opportunity to beat your current rate is something we take a lot of pride in doing for new customers.
If we can’t beat your interest rate that means you are getting a fantastic rate for your excavator purchase. We will give you true and honest feedback once we have a look at what excavator you are purchasing, your current repayment structure and what stage your business is currently in to ensure its with the right bank. Given the opportunity we won’t let you down on securing a low interest rate approval for you. That’s our job after all.
What do I need to provide to you to get excavator finance?

Every excavator finance application is different. It will all be depending on your business; the excavator you are purchasing & the amount you are looking to borrow. Once we have a five-minute phone call, we will get a good understanding, then run you through the strategy and the key items we need in order to secure your approval.

Please don’t feel you need to give us everything but the kitchen sink like a bank would as this is simply not the case. A short call to 1300 842 911 will give you a really good understanding of what will be required. From our experience of so many excavators we have financed we strategically know exactly what key items we need to get from you in order to secure a very streamlined and hassle free finance approval.
I don’t have a deposit to put into my excavator, can I still apply for finance?

Yes, we have a large variety of banks that will give you an approval without having to put your own businesses cash reserves into the excavator purchase and it won’t affect your interest rate in most scenarios. Our most common excavator loan is with no deposit required.
I have a Low Credit Score will I still be approved?

Yes, we secure excavator loan approvals for Low Credit Score applicants. We are comfortable on getting your excavators loans approved with a low Credit Score or Credit Defaults. We fully understand that what happens in the past doesn’t dictate necessarily where you are right now. With most of our clients highlighting to us if they do have a Credit Default on their Credit file. There is normally a very good reason behind the credit default and why it’s there.

Some of our customers are just unlucky with missing a payment of one of their Energy Bills when they change their residential address or have had a dispute over a phone bill where they were charged to much by their phone provider. These are all very common and banks have a good understanding of this.

We always get an understanding of why your Credit Score is below the average and then effectively communicate to the appropriate bank as to why it is lower. Please have comfort that we know how to communicate correctly to the right banks or lenders on the story on the Credit Score and/or Credit Default to get your excavator loan approved.

In addition, we have a great external team we utilise to lift the Credit Default off your file and lift your credit score for you.
Can you finance an excavator from a Private Seller?

Yes, buying excavators from a Private Seller is very common and we do it all the time. We will handle the whole entire process with the private seller for you and organise them getting paid by the financier we go through for your excavator loan. Most of all we also give the Private seller comfort that you are a genuine buyer and they will be getting paid for their excavator so they don’t sell it to anyone else.
Can I make additional repayments to reduce my excavator loan?

Yes, you are more than welcome to make extra repayments off your excavator loan. It’s a good overall strategy to reduce the amount of interest paid on your excavator. However, with interest rates being quite low and cashflow being king in any business. It can sometimes be best hold on to your working capital and pay off the excavator loan in the last 1-2 years of your loan contract.
Can you organise Excavator Insurance?
Why don’t I just go direct to my bank for the excavator finance?
Although we are happy for you to go to your bank to obtain your Excavator Finance, we know that it almost always doesn’t deliver the same outcome to you or your business. We know our process compared to a banks process is completely different and we pride ourselves on it. Here are some key reasons as to why we are better than a bank for your excavator loan approval:

You could end up going to the wrong bank who would charge you a higher interest rate and make you jump through a lot more administration hoops just to secure a simple Excavator Finance approval. We know the banking landscape extremely well and once we get an understanding of your business and what excavator you are purchasing; we will then take you to the most appropriate bank to secure your finance approval with ease.

It’s so important to spread your loans across multiple banks. Why? It means that one bank never owns you or your business and instead we have multiple banks fighting for your business constantly. This keeps competition high and interest rates low for you.

One bank will have a better interest rate than another bank depending on what excavator you are purchasing at different times of the year. We know exactly which specific banks to go to at certain times of the year on different types of excavators.

Don’t waste a credit enquiry on your credit file going to the wrong bank. When we submit your excavator loan for an approval, we know it’s going to be approved. This keeps your Credit File Scores strong as every credit enquiry results in a finance approval when dealing with us.

You will spend a lot more of your own time and efforts putting an application together when dealing with the bank and have no idea if you will get an approval. When we go to a bank, we are already 99% sure they will approve your excavator loan.

With Yakka you will always have one point of contact for every excavator purchase you make for your business. Bank Managers are always changing roles in the banks. You might have a great relationship with a bank manager for one year and then they move on, and you have to build a completely new relationship with another bank manager that might not understand your transport business. At Yakka Finance we are not going anywhere, we get to know your business and are here to have a strong relationship with you and your business long-term.

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CONTACT US

Please feel free to contact the team at Yakka Finance 24/7

EMAIL: info@yakkafinance.com.au

PHONE: 1300 842 911

ADDRESS: Suite 5, Level 1, 345 Pacific Highway, North Sydney NSW 2060

Yakka Financial Pty Ltd ABN 75 626 017 070 trading as Yakka Finance

Yakka Financial Pty Ltd Credit Representative 508681 is authorised under Australian Credit Licence 389328.

This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.

Finance Calculator

Recent Settlements

Truck Partners

Accountant Partners

Machinery Partners

Excavator Finance

Contact us for a FREE QUOTE

Which excavator brands do we finance?

GET PRE-APPROVAL NOW!

What’s our promise to you?

Strong Relationships & Exceptional Service

OUR LENDERS

Have you been searching for the right excavator finance brokerage that has deep understanding of earthmoving and civil construction and speaks your language about how your business operates?

FREQUENTLY ASKED QUESTIONS

PAGES

HELPFUL LINKS

CONTACT US

Yakka Finance are Members of the following Associations:

Contact Us

Please feel free to contact the team at
Yakka Finance 24/7

info@yakkafinance.com.au

1300 842 911

(02) 9241 5477

Suite 5, Level 1
345 Pacific Highway, North Sydney NSW 2060

Finance Calculator

Recent Settlements

Truck Partners

Accountant Partners

Machinery Partners

Excavator Finance

Contact us for a FREE QUOTE

Which excavator brands do we finance?

GET PRE-APPROVAL NOW!

What’s our promise to you?

Strong Relationships & Exceptional Service

OUR LENDERS

Have you been searching for the right excavator finance brokerage that has deep understanding of earthmoving and civil construction and speaks your language about how your business operates?

FREQUENTLY ASKED QUESTIONS

PAGES

HELPFUL LINKS

CONTACT US

Yakka Finance are Members of the following Associations:

Contact Us

Please feel free to contact the team atYakka Finance 24/7

info@yakkafinance.com.au

1300 842 911

(02) 9241 5477

Suite 5, Level 1 345 Pacific Highway, North Sydney NSW 2060

Please feel free to contact the team at
Yakka Finance 24/7

Suite 5, Level 1
345 Pacific Highway, North Sydney NSW 2060