Finance question
Equipment finance for tradies: how does it work?
It works like this. You pick the gear you need, a ute, a trailer, a compressor or a generator, and the finance is secured against that asset instead of your house. Repayments are spread over the working life of the equipment, and as a broker we place the deal with the lender most likely to approve it. No upfront fee to you.
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The short answer
The tools earn while you pay them off
Most tradies do not want a lump of cash tied up in a work ute or a new site compressor. Equipment finance lets you keep that cash in the business and pay the asset off from the jobs it helps you win. The gear itself secures the loan, so there is usually no need to put the family home on the line.
Because the asset is the security, the paperwork is light. Many tradie deals settle low-doc or no-doc, often with no financials, just an active ABN and the invoice for the gear. That suits a sparky or a chippy who is flat out on the tools and does not have time to pull together tax returns and BAS.
As a broker we sit across 40+ lenders, not one bank policy. If your first year was quiet or your credit is not perfect, that is our job to place, not your problem to solve. We structure it, we advocate for it, and the lender pays us on settlement, so there is no upfront fee to you.
Do you qualify?
What a tradie deal usually needs.
The work asset
A ute, trailer, generator, compressor or trade tools to secure the loan.
An active ABN
Sole trader or company, both are fine, no long trading history required.
A supplier quote
The invoice or quote for the gear you want to buy.
Deposit optional
Often none needed, though a deposit can widen your lender options.
Why tradies use asset finance instead of cash
Cash stays working
Keep your money for materials, wages and quiet weeks, not locked in a ute.
Secured by the gear
The asset carries the risk, so the family home usually stays out of it.
Fast when you win the job
Approvals often land in 24 to 48 hours, so you can start on Monday.
A real example
A carpenter lands a run of deck jobs and needs a $42,000 dual-cab ute plus a tandem trailer. Rather than drain the account, he finances both, secured on the vehicles, low-doc on his ABN. Approved inside two days, on site by the weekend, paying it off from the work it brings in. Illustrative only.
Common questions
Frequently asked questions
Can I finance both a ute and a trailer together?
Often yes. Multiple assets can go on one facility, or as separate agreements, whichever structures better for you.
Do I need financials as a busy tradie?
Frequently no. Many deals settle low-doc or no-doc on an active ABN, subject to lender assessment.
Can I finance second-hand gear?
Usually yes, including a used ute or trailer, though very old assets can narrow the lenders.
Will this affect my home loan?
The finance is secured against the work asset, not your home, so it sits separately from your mortgage.