Equipment finance
Crane finance for mobile, crawler and tower cranes
Crane finance is a chattel mortgage, hire purchase or lease secured by the crane, used by crane hire companies and contractors to buy mobile, crawler and tower cranes. Because a crane is a large asset, the banks size the loan on the business’s financials and contracts rather than a published product, while publishing the frame: terms of 1 to 7 years at ANZ and Westpac, an optional balloon, and at Westpac an option of three months before the first repayment. Specialist asset financiers that work through brokers also write heavy plant.
- 1 to 7 year terms at ANZ and Westpac
- Optional balloon at ANZ, Westpac, CommBank and Bendigo Bank
- 3 months before the first repayment, as an option, at Westpac
- Larger deals are sized on financials and contracts
What are the repayments on a $300,000 crane?
| Loan amount | Monthly repayment at | ||
|---|---|---|---|
| 8%p.a. | 10%p.a. | 12%p.a. | |
| $150,000 | $3,041 | $3,187 | $3,337 |
| $300,000 | $6,083 | $6,374 | $6,673 |
| $500,000 | $10,138 | $10,624 | $11,122 |
| $1,000,000 | $20,276 | $21,247 | $22,244 |
Scroll the table sideways for more rates
Illustrative monthly principal and interest repayments over 5 years, before fees and charges. Rates are examples, not offers; your rate depends on the lender and your circumstances. Run your own numbers.
Move the sliders for your own amount, rate and term. For a balloon and the GST credit, use the full equipment finance calculator.
Crane finance lenders a broker can compare
These lenders are in our lender directory with an equipment finance product. The broker you are matched with confirms which of them will quote on your machine and in which structure.
| Lender | Products | Current rate |
|---|---|---|
| Australia and New Zealand Banking GroupMajor bank | Products:
| Current rate: ANZ rate card (opens in a new tab) |
| Commonwealth Bank of AustraliaMajor bank | Products:
| Current rate: CommBank rate card (opens in a new tab) |
| National Australia BankMajor bank | Products:
| Current rate: NAB rate card (opens in a new tab) |
| Westpac Banking CorporationMajor bank | Products:
| Current rate: Westpac rate card (opens in a new tab) |
| BankSAMajor-bank brand | Products:
| Current rate: BankSA rate card (opens in a new tab) |
| Suncorp BankMajor-bank brand | Products:
| Current rate: Suncorp Bank rate card (opens in a new tab) |
| Bank of QueenslandTier-2 bank | Products:
| Current rate: BOQ rate card (opens in a new tab) |
| Bendigo and Adelaide BankTier-2 bank | Products:
| Current rate: Bendigo Bank rate card (opens in a new tab) |
| Angle FinanceSpecialist | Products:
| Current rate: Angle Finance rate card (opens in a new tab) |
| EarlypaySpecialist | Products:
| Current rate: Ask a broker |
| GetCapital (Shift)Specialist | Products:
| Current rate: Ask a broker |
| ScotPacSpecialist | Products:
| Current rate: Ask a broker |
Inclusion is editorial reference, not a recommendation. Rates change often, so we only show a rate we captured from the lender's own page in the last 60 days, with a link to that page; otherwise we link to the lender's rate card where it publishes one. The broker you are matched with compares the lenders on their own panel.
See all 13 equipment finance lendersWho finances cranes, and what do they publish?
Checked against each lender’s own page between 19 and 30 September 2026. Terms change without notice, so confirm them before relying on them. Rates are set for each business and asset, so no rate is shown unless the lender publishes one.
| Lender | What it publishes |
|---|---|
| Westpac | Business equipment loan over 1 to 7 years, secured by the equipment, optional balloon; option of 3 months before the first repayment; approved funds within 1 business day for eligible customers and assets. |
| ANZ | 1 to 7 years; optional balloon; rate may be fixed for the term; establishment fee; early repayment fees may apply. |
| CommBank | From $20,000; $0 upfront deposit; optional balloon; easier upgrade after 12 months of good repayments. |
| NAB | No upfront deposit for most purchases; chattel mortgage or finance lease; facilities can be drawn under a master asset finance agreement. |
| Bendigo Bank | 100% finance, often with no deposit; optional balloon; finance lease with a mandatory residual. |
| BOQ | Chattel mortgage, hire purchase and finance lease over 1 to 5 years; a revolving limit for buying equipment on an ongoing basis. |
| Broker-channel financiers | Macquarie, Pepper Money and specialist asset financiers such as Angle, flexicommercial and Metro write equipment finance through brokers and do not publish product terms on their public sites. |
How do lenders assess a crane purchase?
On the business, the contracts and the crane. Expect to provide the last two years of financial statements and tax returns, the current year’s BAS, an ATO portal print showing tax is up to date, a summary of existing equipment finance, the supplier’s quote with the crane’s specification, and the contracts or hire work it will be on. The banks size larger deals on financials rather than a published limit, which is why a crane application takes longer than a small equipment loan.
Balloons on crane finance
A balloon lowers the repayments on a high-value machine. Illustration: $300,000 over five years at 10% p.a. is about $6,374 a month with no balloon, and about $5,212 with a 30% ($90,000) balloon. Interest runs on the balloon for the whole term, so set it below what you expect the crane to be worth at the end, and plan how you will pay, refinance or sell to cover it.
Used cranes
Lenders finance used cranes and set a maximum age at the end of the term, so an older crane gets a shorter term. Expect an inspection or valuation on an older or high-value crane, and for a private sale, proof of ownership and a PPSR search to confirm there is no existing security interest.
Buying more than one crane
Businesses that buy plant regularly can set up one facility rather than applying each time: BOQ publishes a revolving limit for ongoing equipment purchases, and NAB draws facilities under a master asset finance agreement. Ask the broker or bank whether a limit suits your replacement cycle.
For the structures in detail, see the chattel mortgage, hire purchase and finance lease guides, or start from the equipment finance hub.
Related guides
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are calculated on a secured loan of $150,000 over 25 years for home loans, a loan of $30,000 over 5 years for car and personal loans, and $50,000 over 5 years for equipment finance, unless the lender states another basis.
Crane finance FAQs
Can I finance a used crane?
How long can a crane be financed for?
What are the repayments on a $300,000 crane?
Do I need a deposit for crane finance?
What do lenders need to see for a large crane purchase?
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