Become a Yakka referral partner today

No. We are a completely complimentary service for you to use. We instead offer you a Referral Commission for allowing us to support you and your customers.

We can finance any machinery that you are selling. These include but are not limited to: Excavators, Dozers, Tractors, Skid Steers, Tracked Loaders, Agriculture Machinery, Crane, Concrete Pumps, Concrete Agitator, CNC Machines, Generators and much more. Please know that no matter what machinery or equipment you are looking to sell we will have a finance solution to help your customers through the buying process.

We pride ourselves on making a machinery finance application hassle free with as minimal paperwork as possible. Every finance application is unique to us and that starts with getting to know your customer and their business. 

All we ask is that you send us your potentials customer’s name, phone number, email address and the equipment details with the price. We will then contact them for you and handle it all from there. You focus on the sale of the machinery, and we will handle the finance for you and your customer.

Yes, we do! Low Doc Machinery Finance means we only need a very small amount of documentation to secure an equipment finance approval. Most of the time with absolutely no proof of income or profits. 

Our team can run you through how easy it is to secure a Low Doc Machinery Finance approval for your customers over the phone in 5 minutes. We can secure Low Doc Finance approvals all the way up to $500k for equipment. It can be amazing how little documentation we need for a machinery loan approval.

This is a very common question that is always essential to ask. We love this question as we are able to offer market leading interest rates because of the volume of machinery and equipment we finance every month and the awards we have won. We have access to every financier in the market which not every finance brokerage has the luxury of.

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 your customer for the lifetime of their business. 

The only way we have generated so many loyal customers is our service is great, but we can also secure market leading interest rates every single time on their purchase. If our interest rates were high, we would never ever have the number of loyal customers or salesman that utilise our services every single day and we also wouldn’t have the amount of Machinery Dealerships that continually use us for their finance time and time again. 

The big advantage for you and your machinery dealership is because of the volumes of machinery loans we do and the quality of our application submissions we are offered preferential interest rates from the banks and financiers that not all finance brokerages are able to see or secure. 

This is a big advantage to our business to keep our customers happy but also a huge advantage to your machinery dealerships partnered with Yakka Finance.

Absolutely not! Yakka Finance has access to a wide variety of low doc and no doc finance offers that the major banks and other financiers offer us to secure your approval. Please don’t feel like your customers have to provide us with a lot of information to secure their machinery loan approval. 

When we speak to your customer over the phone, we will know exactly what key items of documentation we need from them to secure their machinery finance approval. It might surprise you on how little information we need.

There are many factors that can influence the interest rate on a machinery. 

Here are some key considerations that can influence the interest rate on a machinery loan for a customer:

1. How long they have been in business for? (E.g. Brand New Business or an established business trading for over 2 years)
2. What the specific year build the machinery is. For example, a brand new or near new piece of machinery would secure a much lower interest rate compared to machinery that is much older with a 2003 Build Date on it.
3. If the customer is a Property Owner or if they are currently renting
4. The total machinery loan amount. The higher the machinery loan amount the lower the interest rate can be for some specific financiers. 
5. If they have had machinery finance before and if their repayment history has been good or bad
6. If you have a clean credit file or a credit file with a low score or credit defaults

Yes, we can finance a machinery and equipment no matter how old the year build on the machinery is. So, the answer if you wanted to finance a 1987 John Deere Tractor is … yes, we can finance it. The answer is always yes.

We move very fast. We can usually obtain a machinery finance approval within the same day or 2 days of receiving all the customers details. To speed up the application process we don’t have application forms as that can slow down the process on waiting for a customer to complete lengthy forms. 

We understand how quick we must move when it comes to a customer purchasing your machinery as its important to hold on to that customer and not lose the sale. We will communicate exact timelines to you throughout the approval and settlement process as its pivotal to us you know what’s going on.

The average machinery loan term is between 3-7 years (36 to 84 months). 5-year terms tend to be the most popular choice. The choice of machinery loan term is ultimately the customer’s choice. The shorter the term would result in a higher monthly repayment as they are paying the machinery loan off on a shorter loan period. The longer the machinery loan term the lower the monthly repayment. 

If your customers ever want to play around with what Machinery Loan Term works best for them on their machinery purchase. Get them to have a play with our easy-to-use Machinery Loan Calculator – https://yakkafinance.com.au/finance-calculator/

A balloon payment is a chosen lump sum which is owed to the lender at the very end of your equipment loan term, after all your regular monthly repayments have been made. It allows you to repay only part of the principal amount of your equipment 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 equipment 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 equipment loan. Alternatively, you can trade the machinery and equipment in for a new one or sell your machinery or equipment to another party which if structured correctly should be more than the balloon payment you owe. 

It is completely your customers choice whether they want a balloon payment in their equipment loan structure to reduce your monthly repayments or not. We can workshop this with them to make sure the repayments suit their business and cashflow.

Funnily enough we look after so many Machinery Dealerships in Australia that already have an In-House Finance option within their dealership. Where our value comes in is that Yakka Finance is used as their secondary finance partner if their customer doesn’t fit the specific lending criteria of their in-house finance offering. 

We are also skilled at getting their customers machinery finance approved effortlessly.  Sometimes, In-House Finance Teams can be lazy, and they get the customer to complete a heavy amount of application forms before reviewing the deal and cannot move as quickly. 

As mentioned above, Brand New Machinery Dealerships offer their own Dealer Finance (e.g. Toyota Finance, Caterpillar Financial Services or John Deere Financial Services) whilst it can be good for some customers it’s not a great fit for every single customer that walks through your door. 

Dealer finance can only offer a very specific criteria to qualify for an approval to their prospective buyers. E.g. Want a deposit, won’t approve someone with a Credit Default or Low Credit Score or if they are a Brand New Business looking for a finance approval. 

Why Machinery Dealerships use Yakka Finance is that we can offer their customers finance options that fall outside the specific lending criteria of their In-House Finance offering. Otherwise, it could cost the salesman a sale on their machinery.

We always say to all salesman we deal with feel free to use your In-House Finance until that fails you and your customer and then we can come to the rescue on your customer on their machinery loan approval.

We already work with several In-House Business/Finance Managers when their finance product offering fails to give an approval to their customers, so they use us as a backup.

Absolutely! Whether it is a new or used machinery we can offer a tailored machinery finance solution to your customer and have a wide variety of banks and lenders that will comfortably finance used machinery.

This is one of our favourite things to do! Yakka Finance have access to the most cost-effective interest rates in the market. So given the opportunity to beat your customers current interest rate is something we take a lot of pride in doing. Especially if it helps you convert your machinery sale faster.

If we can’t beat your customers current interest rate that means your customer is getting a fantastic interest rate for their machinery purchase and we will communicate this to them so they have comfort to go ahead.  

We will always give you true and honest feedback once we have a look at your customers profile, what machinery they are purchasing and their current repayment structure.

Given the opportunity we won’t let your customer down on securing the low interest rates and repayments for the purchase. Especially if they feel their current quote is expensive.

Yes, we have a large variety of banks that will give you a machinery finance approval without having to put their own cash deposit into the machinery purchase. Our most common machinery loan is with no deposit required by the lender. 

Yes, we secure machinery loan approvals for Low Credit Score applicants or with customers that have Credit Defaults. 

We understand that what happens in a customer’s past doesn’t dictate necessarily where your customer is right now. With most of our clients if they have a Credit Default on their Credit file there is normally a good reason behind the credit default and why it’s there. So, we simply explain this to a financier that are happy to approve them if the story makes sense. 

Some of our customers are just unlucky with missing the payment of Energy Bills when they change their residential address or have had a dispute over a telephone 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 their Credit Score is below average and then effectively communicate to the appropriate bank or lender as to why the credit score 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 customers machinery loan approved. 

In addition, we have a great external team we utilise to remove the Credit Defaults off your customers file to get them the best possible deal.

Yes, we can arrange Insurance on the machinery your customer is purchasing. We have access to experienced machinery insurance providers that will give your customer the right advice when it comes to the insurance on their machinery purchase.