Crane truck finance funds the purchase of HIAB, Franna, all-terrain and other crane-equipped vehicles through structures like chattel mortgage and finance leases. The right option depends on the crane type, your financials and how quickly you need funds, with terms, rates and doc requirements varying across lenders.
What Counts As A Crane Truck
Crane truck finance covers HIAB and loader-crane trucks, Franna and pick-and-carry cranes, all-terrain and truck-mounted cranes, and articulated crane trailers used in construction, transport, mining and utilities work. Because these are specialised, high-value assets, lenders assess them differently to a standard prime mover, and the right finance structure depends on the crane type, age, application and how the asset will be used day to day.
Loan Structures And Terms
Most crane truck finance is arranged as a chattel mortgage or finance lease over 1 to 7 years, with finance amounts ranging from around $20,000 for a light loader-crane unit up to $10 million or more for large fleet or all-terrain crane purchases. Balloon or residual payments can be built in to lower monthly repayments, and no-deposit or up to 100% finance options may be available for well-qualified applicants, subject to lender approval, helping keep cash in the business rather than tied up in the asset.
What Rates Depend On
Rates for crane truck finance typically start from 6.55% p.a. for strong applicants with clean credit, an established ABN history and a well-maintained or newer asset, rising to around 15% p.a. for higher-risk applications such as older cranes, newer businesses or applicants with a patchy credit file. The final rate a lender offers reflects the specific deal, so it pays to compare rather than accept the first offer. Rates quoted here are indicative only and remain subject to individual lender criteria, credit assessment, fees, loan term and final approval.
Low-Doc And Full-Doc Options
Sole traders and smaller operators who don't have up-to-date financials can often access low-doc, lite-doc or no-doc crane truck finance for amounts up to $500,000, based on asset value, ABN history and bank statements rather than full tax returns. Larger operators and fleet buyers with complete financials can access full-doc finance up to $10 million or more, which can help unlock sharper rates and larger facility limits, subject to lender assessment.
New, Used And Imported Cranes
Finance is available for new crane trucks straight from the dealer, used and demonstrator units, and imported cranes, though lender appetite and rates can vary with the age, condition and country of origin of the machine. Purchase prices for crane trucks vary widely depending on crane type, capacity, age, condition and configuration, so it's worth getting a specific valuation or quote for the unit you have in mind. A crane's resale value and expected working life matter to lenders assessing the asset, so having service history and inspection reports ready can help speed up the assessment.
Why Use A Broker
Overdrive Truck Finance compares 80 or more banks and non-bank lenders on your behalf, matching your crane truck purchase to a lender that may suit the asset and your business circumstances, rather than applying a one-size-fits-all policy. This saves the time of approaching multiple lenders separately and helps surface options, rates and structures you might not find on your own.
Get An Obligation-Free Quote
If you're ready to move on a crane truck, enquire with Overdrive Truck Finance for an obligation-free quote. Pre-approval and full approval timeframes vary by lender and application, and are subject to credit assessment and approval, but fast turnarounds may be available on eligible applications. Enquiring involves a soft credit check only and will not affect your credit score, so you can compare your options with confidence before you commit.
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