Finance question
Can I get pre-approval for equipment finance before I buy?
Yes. You can get pre-approval before you commit to a purchase, so you know your budget and negotiate from a position of strength. It confirms roughly how much a lender is comfortable with, subject to the final asset and full assessment.
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The short answer
Shop with a number in hand
Buying gear before you know what a lender will support is doing it backwards. Pre-approval flips the order. It gives you a clear sense of how much you can borrow first, so you walk into a dealer or a private sale knowing your ceiling and negotiating like a cash buyer rather than a hopeful one.
A pre-approval is an indication, not a blank cheque. It is based on your profile and a general asset type. The final approval firms up once the specific vehicle or machine and its invoice are known, since the lender secures against that actual asset. Nothing is locked until the deal is assessed in full.
Because equipment finance often runs on low-doc terms across 40+ lenders, approvals can move quickly, frequently in the 24 to 48 hour range once everything is in. Getting the pre-approval done early means that when you find the right asset, you are ready to move before someone else does.
Do you qualify?
What a pre-approval usually needs.
An active ABN
Sole traders and companies both qualify.
A rough budget
The amount and the type of asset you are chasing.
Low-doc friendly
Many pre-approvals need little more than the basics.
An asset in mind
Even a general category helps size the number.
Why pre-approval is worth doing first
Real negotiating power
A known budget lets you deal like a cash buyer.
Move fast on the day
With the groundwork done, final approval can be quick.
No nasty surprises
You learn your ceiling before you fall for something over it.
A real example
A courier wants a van but does not know their limit. A pre-approval indicates comfort up to around $45,000. They negotiate hard at a dealer, land a van at $41,000, and because the groundwork is done, the final approval firms up within a day or two once the invoice is in. Illustrative only.
Common questions
Frequently asked questions
Does a pre-approval guarantee the loan?
No. It is an indication of how much a lender is comfortable with. Final approval firms up once the specific asset and invoice are assessed.
How long does a pre-approval last?
It varies by lender. It generally holds for a set window, and we can refresh it if your search runs longer.
Do I need to have chosen the exact asset?
Not yet. A general asset type and budget are enough to get a pre-approval. The specific asset comes in at final approval.
Will a pre-approval affect my credit?
We manage where and when an enquiry is made, placing it with the right lender rather than shopping it around.