Finance question
Can I finance a drill rig?
Yes. Drill rigs, from a water bore or piling rig to a compact geotechnical or exploration unit, finance against the rig itself. Equipment finance covers up to $500,000 per asset, and a larger truck-mounted or specialised rig can bridge to property-backed finance. Subject to lender assessment.
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
Specialised rigs, financed on the asset
Drill rigs are specialised, but they are still an asset a lender can secure against. Whether it is a water bore rig, a piling or foundation rig, a geotechnical rig or an exploration unit, the machine holds resale value in a defined market of drilling and civil contractors. That is what lets the finance sit on the rig itself rather than only on your books.
Value spreads widely across the category, which shapes the structure. A compact track-mounted geotech rig can fall well inside the $500,000 equipment finance limit and settle as a single asset facility. A large truck-mounted water bore or piling rig can run higher, and where it does the balance can move to a property-backed line up to the $5 to 6 million range.
Because rigs are specialised, lender appetite varies more than it does on common yellow goods, and that is where running across 40+ lenders matters. Some lenders know drilling plant well and price it confidently; others shy off it. Matching the rig to a lender that understands the asset, its resale market and its earning use is what gets a specialised deal approved.
Do you qualify?
What a drill rig deal is built on.
A specific rig
The type, make, model and hours of the drilling unit.
A lender that knows rigs
Specialised plant placed with a lender that understands it.
An active ABN
Drilling, civil and exploration operators qualify.
Property for scale
A large truck-mounted rig can bridge to property-backed finance.
Why drill rigs still finance
Defined resale market
Drilling contractors buy used rigs, giving lenders real security.
Lender matching
40+ lenders means finding the one that knows drilling plant.
Room above $500K
A large rig can bridge to property-backed finance up to $5 to 6 million.
A real example
A drilling contractor buys a used track-mounted geotechnical rig for around $260k to take on more site investigation work. The rig secures the finance, and because it is specialised the deal is placed with a lender that knows drilling plant rather than shopped broadly. It settles on a term matched to the rig's life. Illustrative only.
Common questions
Frequently asked questions
Can specialised rigs really be financed?
Yes. Water bore, piling, geotechnical and exploration rigs all secure finance against the machine, provided it is placed with a lender that knows the asset.
What if the rig costs more than $500,000?
Equipment finance covers up to $500,000 per asset. A larger truck-mounted rig can bridge to property-backed finance up to $5 to 6 million.
Does it matter that few lenders fund rigs?
It is why a broker helps. Running across 40+ lenders, we match the rig to one that understands drilling plant and prices it confidently.
Can I finance a used rig?
Yes. Used rigs are common in drilling. Type, hours and condition affect the offer, subject to lender assessment.