Finance question
Can I finance a crane?
Yes. Cranes are exactly the kind of asset lenders like to secure, because the machine holds value and earns while it works. Pick and carry, city and mini crawler cranes are commonly financed up to $500,000 on equipment finance, and a larger all terrain or tower crane can be structured against property when the ticket runs higher.
Get your free rate quote
Tell us a few details and we will come back with your indicative rate. No obligation.
Thanks, we are on it
Your enquiry is in. Our team will be in touch shortly with your indicative rate and next steps.
The short answer
The crane secures its own finance
A crane is a strong asset to lend against. It has a clear resale market, a known service life and a real job to do on a site, which is why lenders are comfortable securing finance in the machine itself. That covers pick and carry cranes, franna style units, city cranes, mini crawlers and truck mounted cranes, whether you are a crane hire business, a builder or a rigging contractor.
Because the crane is the security, many deals settle low doc or no doc. Across 40+ lenders the appetite for cranes varies by type, age and hours, so the job is to match your unit and your business to the lender that prices it best, rather than send it to one that treats a 12 year old franna the same as a new one.
Age and condition drive the structure. A late model crane with low hours supports the cleanest terms, while an older or ex hire unit is still very fundable, often with a valuation or a small deposit to settle the lender. New businesses and single crane operators both get financed here.
Do you qualify?
What makes a crane deal fundable.
A specific crane
Pick and carry, city, crawler, tower or truck mounted.
An active ABN
Crane hire firms, builders and sole rigging operators all qualify.
Age and hours
Newer units run cleanest; older ex hire cranes still fund.
A deposit can help
Not always needed, but it widens lenders on an older unit.
Why cranes finance well
Strong resale
A defined second hand market means the lender's security holds up.
It earns on hire
A crane on day rate services its own repayments from the work it wins.
Bigger units, property path
When a crane runs past $500,000, it can be structured against property.
A real example
A crane hire operator wants a used 20 tonne franna at $210,000 to take on a second site. The unit is eight years old with moderate hours. Submitted to a lender that reads ex hire cranes well, secured on the machine, approved with a modest deposit and no full financials. Illustrative only.
Common questions
Frequently asked questions
Can I finance a used or ex hire crane?
Yes. Older and ex hire cranes are commonly financed, often with a valuation or a small deposit to settle the lender on age and hours.
What if the crane costs more than $500,000?
Equipment finance runs to $500,000. A larger all terrain or tower crane can be structured against property, which reaches into the millions at single-digit rates.
Do I need financials to finance a crane?
Often no. Because the crane secures the loan, many deals settle low doc or no doc, subject to lender assessment.
How fast can it be approved?
Straightforward crane deals are often approved in 24 to 48 hours once we have the unit details and your ABN.