Finance the Ride / Business finance
Tower Crane Finance: Options for Builders and Civil Contractors
How builders and civil contractors finance tower cranes: buying, leasing or hiring, what lenders look for, and the compliance costs to budget for.
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Short answer: A builder or civil contractor can finance a tower crane with an equipment loan (chattel mortgage), a finance lease or a long-term hire arrangement. Lenders treat tower cranes as specialised assets with a narrower resale market than trucks or excavators. Expect them to look hard at your project pipeline, the crane's age and history, and how much you're putting in yourself.
Buy, lease or hire?
| Option | Suits | Trade-offs |
|---|---|---|
| Chattel mortgage | Businesses with steady high-rise or major civil work that will keep a crane busy for years | You own it and carry the resale risk. May allow depreciation, interest and GST claims. |
| Finance lease | Businesses wanting fixed payments without owning outright during the term | A residual is payable at the end. Lease payments are generally deductible. |
| Hire (dry or wet) | One-off projects, or a gap between projects | No finance needed and the crane company handles compliance. Usually the most expensive way over a long period. |
A useful test: add up the months the crane would actually be erected on your sites over the next few years. If there are long idle gaps, buying may not make sense unless you can hire it out to others.
What lenders typically look at
- Trading history and financials. Tax returns, management accounts and BAS. Large loans are usually full doc.
- Work in hand. Signed contracts, tender history and the scale of the projects the crane is for.
- The crane itself. Make, model, year of manufacture, jib length, maintenance and inspection records, and where it's coming from. Imported and older cranes often need an independent valuation.
- Deposit and security. Because the resale market is thin, lenders may want a larger deposit, extra security (such as property or other equipment) or director guarantees.
- Existing commitments. Other equipment finance, tax debts and business overdrafts.
Costs beyond the repayments
The purchase price is only part of the cost. Budget for:
- Transport, erection, climbing and dismantling on each site
- Foundations or base designs, which are usually engineered for each site
- Periodic inspections, major inspections as the crane ages, servicing and parts
- Licensed operators and dogmen or riggers
- Insurance, storage between projects, and plant registration
Under work health and safety laws, tower cranes generally need their design and the item itself registered with the WHS regulator in your state or territory. Operators need the right high risk work licence. Check with Safe Work Australia and your state regulator for the current rules.
Preparing an application
- Get a detailed quote or invoice, with inspection reports for a used crane.
- Put together two years of financials, current BAS and a list of contracts.
- Prepare a simple utilisation plan showing where the crane will be and when.
- Talk to your accountant about ownership structure and tax treatment before you sign.
Many contractors also finance support vehicles, such as crane trucks, utes and site vans, at the same time. See financing a mobile crane truck and low doc loans for builders.
Planning a tower crane purchase? Tell us about your situation in about 60 seconds and a licensed broker will call you. No credit check to enquire.
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General information only. This isn't financial advice. Finance the Ride is a referral service and doesn't hold an Australian Credit Licence. Last reviewed September 2026.
About this guide. Written by the Finance the Ride team and last updated . It's general information for Australian borrowers, not financial advice, and doesn't take your circumstances into account. Finance the Ride is a referral service: we don't lend money or hold an Australian Credit Licence. About us