BUSINESS LENDING HUB

Demolition Rig Finance: Specialist Equipment Finance for Dismantling Projects

Breaking Ground (and Everything Else) Safely

Demolition is one of the most demanding sectors in construction โ€” combining precision, safety, and raw power. Modern demolition rigs, fitted with hydraulic shears, pulverisers, and high-reach booms, allow contractors to deconstruct buildings efficiently while meeting strict compliance standards. But acquiring one outright is no small expense, with new machines often exceeding $500,000.

Thatโ€™s where demolition rig finance steps in. Through a low-doc construction and earthmoving loan, Australian ABN holders can access purpose-built demolition machinery quickly โ€” without needing full financial statements or years of trading history.


How Low-Doc Demolition Equipment Finance Works

Traditional finance options can move at the pace of bureaucracy, but low-doc loans are designed for active contractors who need machinery on-site fast. The asset itself acts as the main security, streamlining the approval process.

With fast low-doc equipment finance, you can:

  • Finance high-reach demolition rigs, shears, crushers, or multi-attachments

  • Bundle freight, modification, or repair costs into your loan

  • Choose repayment terms that align with project cash flow

  • Get approval within 24โ€“48 hours โ€” even on used machines

This gives demolition contractors flexibility to scale their fleet and take on larger jobs without tying up working capital.


Contractor Example: From Hire to Ownership

A Sydney-based demolition company was renting a 40-tonne high-reach rig for $12,000 per month. By switching to a low-doc finance setup, they secured their own unit for less than the equivalent of six monthsโ€™ hire costs. The machine now generates profit on every job, and repayments are structured around project completions.

This practical shift from rental to ownership is what makes low-doc finance such a powerful growth tool in the demolition industry.


Application Essentials

Most lenders will only ask for a few core details:

  • Active ABN and identification

  • Supplier invoice or quote

  • Proof of insurance

  • Evidence of current or upcoming contracts

If your business is already active in construction or demolition services, approvals can often be finalised within one business day.


Keeping the Fleet Moving

Demolition sites depend on support vehicles to transport crew and smaller attachments. Pairing your equipment loan with small business car finance allows you to fund utes, trailers, or service vehicles under the same low-doc terms โ€” ensuring your whole team stays mobile.


The Takeaway

Demolition rig finance helps Australian contractors tear down the old and build up new opportunities. With fast, flexible low-doc lending, you can own specialised machinery that strengthens your capabilities, reduces hire costs, and increases project margins โ€” all while maintaining a healthy cash flow.

ย 

ย 

DISCLAIMER

The information provided on this website is general in nature only and has been prepared without considering your financial needs, circumstances and objectives and should NOT be construed as financial, taxation or legal advice. For more information, get in touch with our experienced partner brokers today.

Back to blog

All Your Questions Answered

What is a car loan and how does it work?

A car loan is a finance product where a lender provides funds for you to purchase a vehicle, which you repay over time with interest.

Whatโ€™s the difference between secured and unsecured car loans?

Secured loans use the car as collateral, often leading to lower interest rates. Unsecured loans donโ€™t, but usually have higher rates.

What loan terms are available for car finance?

Most car loans offer terms from 3 to 7 years. Find out what term suits you best.

How is interest calculated on a car loan?

Interest is based on the loan amount, term, and rate. Fixed-rate loans have predictable repayments, while variable rates can change.

Can I get a car loan for a private sale?

Yes, many lenders accept private sellers. Youโ€™ll need to provide extra documents.

Do government employees get lower interest rates on car loans?

Yes โ€” many lenders offer better rates due to your stable income. Explore finance options for government employees.

Can I apply for a car loan while on probation?

Yes. Many workers are approved during probation.

What credit score do I need as a government employee?

A score of 650+ is ideal, but lower scores may still be considered.

Are corporate professionals eligible for low-rate finance?

Yes, especially if you're full-time with strong income.

Can I get car finance with a novated lease?

Yes, many government departments support novated leasing.

Can I get a car loan with no credit history?

Yes, it's still possible to get a car loan with no credit history.

What if Iโ€™ve been declined elsewhere?

A broker can help restructure your application for better results.

How do I check my credit score?

Use Equifax, Experian, or Illion for a free check.

Can I get finance if I have a current personal loan?

Yes, if your income supports both loans. A broker will assess your capacity.

What documents do I need to apply?

Typically: ID, payslips, and bank statements.

Can casual workers get car loans?

Yes, if youโ€™ve worked consistently for 6+ months.

Can I apply if Iโ€™m self-employed with an ABN?

Yes. Consider a low-doc loan.

Can Centrelink be used as income?

Yes, when paired with PAYG income.

Whatโ€™s the minimum income to qualify for car finance?

Most lenders prefer $30,000+ annually, but this varies.

Can I apply on a fixed-term contract?

Yes, especially if itโ€™s government-backed.

Can I finance a used car?

Yes, most lenders allow used cars under 10 years old.

Can I get a loan for an SUV or family car?

Absolutely

Can I finance a caravan or motorbike?

Yes

Can I finance an EV or hybrid car?

Yes. You may even qualify for green car loan discounts.

Can I use my car for both work and personal use?

Yes you can.

What is a balloon payment?

Itโ€™s a lump sum due at the end of the loan term.

Can I make extra repayments?

Yes, many lenders allow this without penalty.

Can I pay off the loan early?

Yes โ€” ask if thereโ€™s an early payout fee.

Is there a deposit required?

Not always.

What loan terms are available?

1 to 7 years is standard.

How long does approval take?

24โ€“48 hours in most cases

Can I apply online?

Yes โ€” most lenders and brokers accept online applications.

Is a broker better than going direct?

Often, yes. They can compare lenders for you.

Can I get pre-approved?

Yes โ€” and it gives you better negotiating power at the dealership.

What happens after I apply?

Your documents are reviewed, and if approved, the lender issues funds to the seller.

Can I get a loan with a visa?

Do I need a driverโ€™s licence to apply?

Yes, but learners may qualify with a co-applicant.

Can I apply with someone else?

Yes, joint applications are allowed.

Can I refinance my current car loan?

Yes โ€” it can lower your repayments or get you a better rate.

Can I trade in my old car as a deposit?

Yes, many lenders accept trade-ins toward the deposit.

Can nurses get car finance?

Can teachers apply while on contract?

Do defence personnel get special car loan rates?

Yes, in some cases. Your job security is a major advantage.

Can FIFO government workers apply?

Yes โ€” consistency in income matters more than job location.

Can I apply if Iโ€™m on maternity leave?

Yes, especially if youโ€™re returning to work. Hereโ€™s how.

Can I use car finance to buy interstate?

Yes โ€” just make sure the seller provides all required documents.

Can I finance a car from an auction?

Yes, but only through select lenders. Ask your broker first.

Will applying hurt my credit score?

Only if you apply to multiple lenders directly. Brokers help protect your score.

Can I get a car loan if Iโ€™ve been bankrupt before?

What if I want to upgrade my car before the loan ends?

You can sell the car, pay off the loan early, or refinance.