Funding equipment and work vehicles in New Zealand

A new excavator, a refrigerated van, a CNC machine, a coffee roaster — the right equipment can lift what a business earns overnight. The wrong financing, or a slow one, can mean losing the machine to another buyer or turning down work while you wait. Here’s how to fund equipment and vehicles quickly in New Zealand.

Which loans can fund equipment and vehicles?

Option	Best for	Speed
Unsecured business loan	Smaller purchases, used or private-sale gear	Same day possible for smaller amounts
Cash flow loan	Items that pay for themselves within months	Often within 24 hours
Property-secured loan	Larger purchases, several assets, longer terms	$20k–$250k possible same day; larger within 24–48 hours
Traditional asset finance	New equipment from dealers, longer terms	Depends on the financier

Our aim with any of these is to have you funded within 24 hours of your first application.

Why might a general business loan beat asset finance?

Asset finance — where the equipment itself is the security — is a well-known way to buy machinery. But it isn’t always the quickest or most flexible:

• Private sales and auctions often need payment within days, and some asset financiers won’t fund them.
• Older equipment may fall outside an asset financier’s age limits.
• Several items at once — say a vehicle, a trailer and the tools — can be easier under one loan.
• Installation, freight and fit-out may not be covered by asset finance.

A general business loan funds the purchase and lets you own the asset outright from day one.

Found the machine already? Apply now with the supplier’s quote and we’ll aim to have it paid for within a day.

What checks should I do before buying second-hand?

Search the Personal Property Securities Register (PPSR). The Companies Office describes the PPSR as an online noticeboard where you can register a legal claim to personal property and check whether there’s any debt or obligation attached to goods. Searching before you pay helps make sure there’s no money owing on pre-owned vehicles, equipment or machinery.

Also check:

• Ownership — is the seller the real owner?
• Condition and service history.
• For vehicles: current registration, warrant or certificate of fitness, and road user charges if it’s a diesel.

How does Investment Boost affect timing?

Inland Revenue’s Investment Boost lets businesses claim 20% of the cost of new assets as an expense in the year of purchase, then depreciate the remaining 80% as usual. It applies to assets acquired from 22 May 2025. IRD says it doesn’t apply to second-hand assets sourced from New Zealand, but assets that are new, or new to New Zealand, can qualify.

That can change the maths between new and used equipment — and the timing of a purchase before your balance date. Our guide to Investment Boost and buying equipment covers it in detail. Always confirm with your accountant.

How long should an equipment loan run?

Match the term to the asset’s working life and how quickly it earns. A rule of thumb:

• Quick-payback items (a second coffee machine, a trailer for a seasonal job) suit short terms.
• Core machinery used for years suits longer terms, often through property-secured lending.
• Never fund a short-life item over a long term, or you’ll still be paying after it’s worn out.

An illustrative example: a Waikato drainage contractor finds a three-year-old excavator at a private sale for $135,000, with another buyer interested. The seller wants payment within 48 hours. After a clean PPSR search, a second mortgage over the director’s home funds the purchase; the excavator starts earning on a council contract the following week. (Illustrative only.)

What documents speed up an equipment purchase?

1. The supplier’s invoice or sale agreement, including bank details.
2. A PPSR search result for used items.
3. Photo ID and six months of business bank statements.
4. For property-secured loans: property details and your lawyer’s contact.

New, used or imported — how does the choice affect speed?

Each route moves at a different pace, and that often matters more than the price difference:

• Used, from a New Zealand seller — often the fastest to get working. Once the PPSR search is clean and funding is in place, you can collect it. Investment Boost doesn’t apply.
• New, from a dealer in stock — quick if the dealer has it on the yard; slower if it has to be ordered. May qualify for Investment Boost.
• Imported — usually the slowest, with shipping, compliance and certification. Used imports that are new to New Zealand can qualify for Investment Boost, according to Inland Revenue.

If speed is the priority because work is waiting, the used local option often wins even with the tax benefit of new. If you can plan ahead, new or imported may come out ahead once tax is counted.

What about GST on equipment and vehicles?

If your business is GST-registered and buys from a registered seller, the price will usually include GST at 15%, which you may be able to claim back in your next return. The cash still has to be found on purchase day, though, so size the loan for the GST-inclusive price unless you can cover the GST yourself until the refund arrives. Private sellers who aren’t registered won’t charge GST.

Get the gear, get to work

If the right equipment is waiting and the seller won’t, fast business finance can have it paid for within a day. Start your 60-second application. There’s no credit check to make an enquiry, we don’t pass your details to a stack of lenders, and a real person will help you choose the right structure. Tell us the exact price, whether it’s new or used and who’s selling — clear details keep the purchase on schedule.