Equipment finance for sole traders, contractors and trades

Last updated 3 November 2026 · Reviewed by 360 Asset Finance Compliance

What can a sole trader or contractor finance?

We help with most of the assets a trade or contracting business relies on, including:

• Vehicles: new and used cars, utes and vans.
• Trucks and trailers: rigid trucks, prime movers, trailers and specialist heavy vehicles.
• Earthmoving: excavators, loaders, skid steers, dozers and graders.
• Plant and equipment: forklifts, cranes, generators and other machinery.
• Other assets: IT hardware and medical equipment for allied health practices.

All funding is subject to the lender's assessment.

Which finance structures are available?

• Chattel mortgage: you take ownership of the asset straight away, and the lender takes a charge over it.
• Finance lease: the lender owns the asset and leases it to you for a fixed term.
• Operating lease or rental: you use the asset for an agreed term, with end-of-term options. It can suit assets with a limited useful life.
• Commercial hire purchase (CHP): you hire the asset with the intention of buying it at the end of the term. Balloon or residual options may be available.

A novated lease is arranged through an employer's salary packaging, so it's generally for employees rather than people running their own business. Each structure is treated differently for GST, depreciation and tax, so ask your accountant which one suits your business before you choose.

Does it matter if I use the vehicle for work and personal use?

Yes. If the finance is mainly for personal or household use, consumer credit laws apply, and we must check that the loan meets your needs and that you can afford the repayments. Finance for a business asset is generally treated differently. Your broker will explain which rules apply, and your accountant can tell you how mixed use affects your tax.

Can I finance a used asset or buy from a private seller?

Used cars, utes and vans can be financed. For other used equipment, it depends on the asset, its age and condition, and the lender's criteria.

Lenders on our panel can also finance cars bought from private sellers, subject to their criteria. The lender may need to check the vehicle and confirm there's no money owing on it, for example through a search of the Personal Property Securities Register (PPSR). For other privately sold equipment, talk to us about the asset and we'll check what's possible.

What will I need to apply?

Every lender sets its own requirements, but it helps to have:

• a quote or invoice from the supplier, and whether the asset is new or used
• the amount you need and when you need it
• identification for each applicant
• your ABN and business details
• evidence of income or business performance, such as bank statements or financial statements
• details of your existing debts and other finance.

Your broker will assess your income and financial situation.

How does the process work?

1. Tell us what you need. Describe the asset, the amount and your timeline.
2. We compare lenders. We look for options from our panel that fit your deal.
3. We manage the process. We prepare the application, work with the lender and keep you updated through to settlement.
4. You get the asset. Once the lender approves and settles, funds are released and repayments are set up to suit your cash flow.

Can you help as my business grows?

Yes. From your first ute to a full fleet, we help you plan each purchase, upgrade and addition as your business grows. If you need finance that isn't tied to an asset, 360 Asset Finance can also arrange unsecured business loans through its lender panel, and the wider 360 group can help with property and software finance.

FAQs

General information only. It doesn't take into account your objectives, financial situation or needs, and it isn't credit, tax or legal advice. Finance is provided by the lender you choose and is subject to its lending criteria; fees and charges apply. 360 Asset Finance is a trading name of Kuone Consulting Pty Ltd (ABN 75 647 329 002), Australian Credit Licence 566705.