Equipment finance
Forklift finance and leasing for electric, LPG and diesel forklifts
Forklift finance is a chattel mortgage, hire purchase or lease secured by the forklift itself, so a warehouse, yard or manufacturer can add or replace a forklift without paying cash for it. Bendigo Bank lists forklifts among the vehicles its equipment loan finances with no upfront deposit, and on electric models CommBank publishes up to 0.50% p.a. off qualifying electric machinery and NAB 0.5% p.a. off qualifying green equipment. Lease a fleet you will rotate every few years; use a chattel mortgage for a forklift you will run until it is worn out.
- No upfront deposit at Bendigo Bank; $0 deposit at CommBank and NAB
- Green discounts: up to 0.50% p.a. (CommBank), 0.5% p.a. (NAB)
- Terms of 1 to 7 years at ANZ and Westpac
- Lease to hand back or upgrade; buy to keep
What are the repayments on a $40,000 forklift?
| Loan amount | Monthly repayment at | ||
|---|---|---|---|
| 8%p.a. | 10%p.a. | 12%p.a. | |
| $20,000 | $406 | $425 | $445 |
| $40,000 | $811 | $850 | $890 |
| $60,000 | $1,217 | $1,275 | $1,335 |
| $100,000 | $2,028 | $2,125 | $2,224 |
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.
Forklift 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 forklifts, 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 |
|---|---|
| Bendigo Bank | Forklifts among the vehicles its equipment loan finances; 100% finance, often with no deposit; optional balloon; finance lease with a mandatory residual. |
| CommBank | From $20,000; $0 upfront deposit; no monthly fees; up to 0.50% p.a. off qualifying electric and hydrogen machinery. |
| NAB | No upfront deposit for most purchases; new or used; chattel mortgage or finance lease; 0.5% p.a. off qualifying green equipment. |
| Westpac | From $15,000 over 1 to 7 years; optional balloon; finance lease where you return the asset at the end; approved funds within 1 business day for eligible customers. |
| ANZ | 1 to 7 years; optional balloon; hire purchase from $7,500 with no monthly admin fee on new contracts; 0.80% p.a. off approved energy-efficient assets through the CEFC. |
| Prospa, Moula | Unsecured business loans from $5,000 (Prospa) and $10,000 (Moula) for purchases below the bank minimums. |
Should you lease or buy a forklift?
Buy with a chattel mortgage when you will keep the forklift for most of its working life: you own it, claim the GST in the price on your next BAS if you are registered, and deduct interest and depreciation. Lease when you rotate a fleet every few years or want the lessor to carry the resale risk: the rentals are deductible, the GST is claimed on each rental, and at the end you hand the forklift back, upgrade or make an offer for it.
Can you finance a used forklift?
Yes. NAB and Westpac publish finance for new or used equipment. Lenders set a maximum age at the end of the term, so an older forklift gets a shorter term, and a private sale needs proof of ownership and a PPSR search. Service records help a lender value an older machine.
Electric forklifts and green discounts
Several banks cut the rate on qualifying low-emission equipment: CommBank publishes up to 0.50% p.a. off qualifying electric and hydrogen machinery up to $250,000, NAB 0.5% p.a. off qualifying green equipment, and ANZ 0.80% p.a. off approved energy-efficient assets through the Clean Energy Finance Corporation. Each bank decides which assets qualify, so ask before you order.
Batteries, chargers and attachments
Ask the supplier for an itemised invoice that lists the forklift, battery, charger and attachments such as side shifters or clamps, so the lender can see exactly what it is financing and your accountant can depreciate each item correctly.
For the structures in detail, see the chattel mortgage, hire purchase and finance lease guides, or start from the equipment finance hub.
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.
Forklift finance FAQs
Should I finance or lease my forklift?
What are the repayments on a $40,000 forklift?
Can I finance a used forklift?
Are there finance discounts for electric forklifts?
Can a new business get forklift finance?
Ready to compare forklift finance?
Answer a few quick questions and get matched with a licensed broker who compares lenders on your machine and explains the structure. Free to use, no obligation.