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Plant & Machinery Finance
Compare low-rate loans for manufacturing, construction or mining machinery and plant with Savvy.
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Loans for heavy industry
Savvy helps businesses in manufacturing, mining and heavy industry finance mobile plant for construction, aviation and rail plant, energy industrial machinery, light industrial plant, commercial enterprise business machinery, and materials handling. We tailor loans and leases for all types of heavy machinery and plant, working with you to find a product that helps your business. We connect with more lenders to give you more opportunity to save.
Flexible and affordable plant finance
Whether you’re looking to buy new, refinance existing plant, or replace your old machinery or plant, Savvy has a range of commercial loan options, such as affordable and flexible chattel mortgages and commercial hire purchases. We also help your business find the best deals and lowest finance rates on commercial leases. Choose from a tailored lease solution such as finance leases or operating leases.
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Loans for heavy industry
Operating and finance leases
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Got a question about your plant & machinery finance?
Yes – we help businesses new and old find finance for their machinery or plant.
Yes – chattel mortgages and hire purchases give business the option to finance more than 100% of the value of their machinery to finance insurance, training or other setup costs.
Yes – finance leases and operating leases can give you the option to buy your plant or machinery at the end of your loan term, provided you settle the residual value payment.
Yes – we help businesses in aviation, rail, mining, construction and any business that requires heavy machinery gain finance for their operation.
Yes – your commercial finance options allow you to claim GST, depreciation and interest on heavy plant or machinery purchases or leases. In some cases, you can claim the fuel input tax credit.
Learn more about plant and machinery finance
Buying new vs. used heavy plant
Heavy plant and machinery can prove expensive, especially for a new business trying to establish itself. Buying new plant adds to these initial setup costs significantly. However, it does create a tangible asset that has high value. Depreciation will occur, but at a slower rate relative to an older machine or plant. Even so, older plant, if well maintained, can serve just as well as new plant.
How to keep your equipment current
Many industries have to keep their machinery and plant up-to-date, sometimes as often as every year. An operating lease is effectively a “rental” lease that allows a heavy industry business access to current equipment when the old equipment wears out. Accountants treat operating leases as operating costs instead of liabilities. Some lenders allow exchange programs without adding to costs.
Should you lease or buy?
A business must look at its priorities when it comes to machinery and plant financing. Leasing is often cost-effective if plant is required for the short term, such as a one-off project. It’s also cash-flow positive, as it doesn't require spending your own capital. If depreciation of your machinery is measured in decades and not months or years, buying is often a better option. You create a performing asset, and even loan the machinery to others for a fee.
Using machinery finance as a redraw facility
Machinery and plant are major purchases by most measures, sometimes costing in excess of seven or eight figures. Many lenders offer packages that act as a business overdraft or redraw facility to finance other machinery plant or industrial equipment. Some lenders charge fees for drawing on your loan. You should talk to a financial consultant to see if the benefits of redrawing outweigh the costs.
Your commercial finance options
Purchasing a car or another asset for your business? Chattel mortgages function in the same way as a standard car loan but offer a range of tax benefits to save your business money in the process.
Many companies require highly valuable equipment to help them operate, but they don’t come cheap. Equipment finance can help your business manage the cost of valuable plant or machinery.
If you’re looking to purchase a truck for your business, you can access specialist financing to help you buy it the right way. Truck finance can help you buy the vehicle you need, big or small.
You can take to the skies with an aircraft lease or purchase. Select your ideal model and repayment conditions and compare offers from trusted lenders to help you find the best rate.
Whether you need a new POS system, computers for your office or an enhanced security network to be installed around the premises, you can find the solutions you’re looking for with technology financing.
Farmers and those in the agriculture need a range of specialised vehicles and equipment to operate. Seeking out agriculture finance could be the solution you need to make the purchase happen.
You may not want to commit to the purchase of your vehicle or equipment just yet. Operating leases come with a variety of key benefits, such as having on-road costs built into your tax-deductible payments.