Why choose our Equipment Loan?

Quick financing

Four hours from signing to finance

Once we have everything we need, all you need to do is sign your finance agreement online. After that, you can leave the rest with us – we’ll transfer the money to your supplier so you can get your new car or equipment quickly. 

Get the right deal

We’ll get the right deal for your business

Whether you’re a small business or large corporation, our Australia based Equipment Finance Specialists can help you get the new car or equipment you need to put to work in your business.

Stay in control

Stay in control of your costs

We’ll look at your anticipated cash flow and give you a range of finance options. Choose to pay monthly over two to five years and customise your repayment by including a balloon payment at the end of the agreement to lower your regular instalments.

Here's what you get

You own the car or equipment and we’ll take a mortgage on it as security for your new loan.

Fixed interest rates and repayments for the term of your loan.

Choose a balloon payment (the remaining balance owed on your loan at the end of your loan term) to structure a repayment amount that suits you. See how to customise your repayment amount.

You may be able to claim input tax credits for the GST included in the car or equipment’s price and also claim the depreciation and interest components of the repayments.

Four easy steps to get funding – how it works

Step 1

We’ll give you a breakdown of the costs and interest. We just need to know:

  • What you want to finance
  • How old it is
  • The finance amount.

Step 2

The process is fast and simple:

  • Eligible CommBank customers can receive a conditional credit decision online. Otherwise we will contact you to process your application over the phone.

Step 3

When your application is approved:

  • You can sign your finance agreement online using our SmartSign paperless technology.

Step 4

Leave the rest with us:

  • We’ll transfer the money to your supplier within four hours of you signing your agreement online.

How to customise your repayment amount

If you select an Equipment Loan or Hire Purchase arrangement you can reduce your monthly repayments by taking a portion of your loan and paying it as a lump sum at the end of the loan term. This is called a balloon payment.

With balloon payments

With balloon

Your monthly repayments will be lower, but you’ll pay more interest.

Without balloon payments

Without balloon

Your monthly repayments are higher, but you pay less interest and no lump sum to pay at the end of term.

Check out our other financing solutions

Things you should know:

As this information has been prepared without considering your objectives, financial situation or needs, you should, before acting on the information, consider its appropriateness to your circumstances. Applications are subject to the Bank’s normal credit approval and suitability of the asset. Fees and conditions apply. 

You should seek independent, professional tax advice before making any decision based on this information.