MOTIVE FINANCE
Got Questions?
What Impacts Your Equipment Loan Rate?
Jan 2, 2025
Explained in Plain English 👇
Looking to get gear? Maybe a new digger. Maybe a second-hand bobcat off Facebook. Either way, the big question is: what’s it gonna cost me every week?
The answer? Depends.
Your loan rate isn’t random. It’s based on a few key things. Here’s what lenders look at 👇
🧠 Credit Score
Good score = better rate.
Bad score? You can still get approved.
But the rate might be higher.
If we know your score upfront, we can match you to the right lender.
📆 ABN Age
Just got your ABN last month?
Most banks won’t touch it.
Three months or more? You’re sweet.
Longer ABNs usually get better deals.
💳 Loan History
Had a loan before and paid it off?
That’s a big tick.
We use that to get you a sharper rate.
Lenders love good history.
🏠 Property Owner?
Own a home or block? Even better.
You don’t have to use it as security.
Just owning it helps.
Banks see you as stable.
🔧 Age of the Gear
Newer gear = better rate.
Old machines? Still possible.
(We have options with no age limits)
But lenders might bump the price.
Wrap-Up
Your rate depends on a few key things:
Credit score
ABN age
Past loans
Property
Gear age
We look at the full picture. Then we get you the best deal without risking your credit score.
🚀 Want to see your rate?
Takes 5 mins. No docs. No credit hit.