- Certainty of a fixed interest rate.
- A loan term generally between 12 and 60 months.
- Generally the only security needed is the asset itself.2
Grow your business with a
BUSINESS VEHICLE & EQUIPMENT LOAN
The easy way to purchase vehicles or equipment. Keep money in your business with no upfront deposit.
Best Equipment Finance & Leasing Business Bank
RFI 2018 Australian Business Banking Awards
Here's what you get
Eligibility criteria
- Your business has a valid Australian Business Number (ABN).
- You intend to use the product mostly for business purposes.
- Have 12 months of reconciled business financial data from your accounting package.
What it'll cost to get started
Here's how it works
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Step 1 Get a quoteUse our quote tool to discover what you can borrow for and how much it will cost.
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Step 2 ApplyUse our simple online application form to apply.
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Step 3 Sign documentsOnce you’ve provided us with the final invoice we’ll email you the paperwork to sign.
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Step 4 Collect your vehicle or equipmentOnce all documents are received and your vehicle or equipment is ready to be collected, we’ll pay the supplier.
How Michael uses his equipment loan
What do you need to know
Still have questions?
What are the eligibility criteria?
- Your business has a valid Australian Business Number (ABN).
- You intend to use the product mostly for business purposes.
- Additional criteria apply for online applications – see below.
- If you have existing NAB Business Lending, you can apply online for an additional NAB QuickBiz Loan, NAB QuickBiz Overdraft, NAB Business Credit Card or NAB Equipment Finance Loan 50 days after your most recent establishment date.
- Your business has a valid Australian Business Number (ABN).
- You intend to use the product mostly for business purposes.
- Additional criteria apply for online applications – see below.
- If you have existing NAB Business Lending, you can apply online for an additional NAB QuickBiz Loan, NAB QuickBiz Overdraft, NAB Business Credit Card or NAB Equipment Finance Loan 50 days after your most recent establishment date.
What do I need to apply online?
Fast online conditional approval is subject to eligibility, credit assessment, lending criteria and ID verification.
Fast online conditional approval is subject to eligibility, credit assessment, lending criteria and ID verification.
How’s interest charged?
We calculate interest charges by applying the relevant fixed interest rate to the projected monthly outstanding loan balance on the assumption that you will pay the instalment amounts on each payment date.
You can obtain information about these rates from us on request.
We calculate interest charges by applying the relevant fixed interest rate to the projected monthly outstanding loan balance on the assumption that you will pay the instalment amounts on each payment date.
You can obtain information about these rates from us on request.
Are there any other fees?
Additional fees may apply if:
- You already own the vehicle or equipment
- You are purchasing the vehicle or equipment from a person or business that:
- Does not have an ABN, or
- Is not registered for GST, or
- Does not generally sell this type of equipment as part of their normal course of business
- You are purchasing specialised equipment
- You want to make a change to the loan after it has been drawn down
Full details can be found in our Fees & Charges guide.
Additional fees may apply if:
- You already own the vehicle or equipment
- You are purchasing the vehicle or equipment from a person or business that:
- Does not have an ABN, or
- Is not registered for GST, or
- Does not generally sell this type of equipment as part of their normal course of business
- You are purchasing specialised equipment
- You want to make a change to the loan after it has been drawn down
Full details can be found in our Fees & Charges guide.
How can I structure repayments?
We offer a range of flexible repayment structures including monthly, quarterly, seasonal or tailored to your business.
We offer a range of flexible repayment structures including monthly, quarterly, seasonal or tailored to your business.
What are my purchase options?
You have the freedom to purchase new or used, through a dealer or privately.
You have the freedom to purchase new or used, through a dealer or privately.
What if I've already made the purchase?
If you’ve already purchased the vehicle or equipment, it’s not too late – we can still set up a loan and reimburse you for the cost. Contact us to find out how.
If you’ve already purchased the vehicle or equipment, it’s not too late – we can still set up a loan and reimburse you for the cost. Contact us to find out how.
What if I'm making multiple purchases?
If you have a number of vehicle or equipment purchases to make throughout the year, we can set you up with a limit to save you applying multiple times. Contact us to learn more.
If you have a number of vehicle or equipment purchases to make throughout the year, we can set you up with a limit to save you applying multiple times. Contact us to learn more.
Who owns the vehicle or equipment?
Your business owns the vehicle or equipment. We take out a mortgage on it as security for your loan.
Your business owns the vehicle or equipment. We take out a mortgage on it as security for your loan.
What are the tax benefits?
Interest expense on the financing and depreciation on the asset may be deductible.
We recommend that you seek independent tax advice.
Interest expense on the financing and depreciation on the asset may be deductible.
We recommend that you seek independent tax advice.
How much turnover does my business need?
The minimum annual turnover requirement for a NAB QuickBiz Loan is at least $75,000 per year. We want to make it easier for your business to apply and help you access funds sooner.
The minimum annual turnover requirement for a NAB QuickBiz Loan is at least $75,000 per year. We want to make it easier for your business to apply and help you access funds sooner.
Not what you need?
Other options that may interest you
Finance Lease
Rent the vehicle or equipment your business needs and return it at the end of the lease.
Novated Lease
Choose the vehicle you want with salary packaging, providing a range of benefits for businesses and employees.
Hire Purchase
Get the vehicle or equipment your business needs with no upfront deposit and own it at the end of the hire period.
Important information
Lending criteria and terms and conditions apply (available on application).
The tax comments provided in this document are of a general nature. NAB recommends that you seek independent tax advice in respect of the tax consequences arising from the use of any NAB Equipment Finance solution as they apply to your particular circumstances.
These products are issued by National Australia Bank Ltd ABN 12 004 044 937.
Notes:
15.49% pa online fixed rate applies to:
Approved Vehicle & Equipment Loan applications that are quoted online:
- with loan amounts up to $250,000; and
- for new or used cars, vans and utes; and
- with loan terms of 1, 2, 3, 4 or 5 years; and
- with no balloon (end of term lump sum payment)
Loan must be drawn down within 35 days from the date of our online quote.
Vehicle and equipment loans are subject to approval. Standard Vehicle & Equipment Loan terms and conditions, fees and charges apply.
Online decisions are subject to eligibility, credit assessment, lending criteria and ID verification. You can read the full eligibility criteria online.
5.49% online fixed rate is available from 5 November 2018, remains valid until withdrawn and is subject to change without notice.
$0 deposit on loans up to $150K: Generally, the security is the asset itself; though in certain circumstances additional security or a deposit might be required – this will be assessed on application.
Loans up to 5 years: Loans applied for online delivered after final approval and receiving the final tax invoice from a dealer. Private sales require extra time to conduct an inspection and valuation.
2Generally, the security is the asset itself; though in certain circumstances additional security might be required – this will be assessed on application.
3$500 fee applicable only to loans approved online.
The Personal Property Securities Registration and Maintenance fee is payable for each asset you purchase and finance.
Additional fees may apply, refer to our Business Banking Fees and Charges and Interest rates, fees and charges for more information.
Lending criteria and terms and conditions apply (available on application).
The tax comments provided in this document are of a general nature. NAB recommends that you seek independent tax advice in respect of the tax consequences arising from the use of any NAB Equipment Finance solution as they apply to your particular circumstances.
These products are issued by National Australia Bank Ltd ABN 12 004 044 937.
Notes:
15.49% pa online fixed rate applies to:
Approved Vehicle & Equipment Loan applications that are quoted online:
- with loan amounts up to $250,000; and
- for new or used cars, vans and utes; and
- with loan terms of 1, 2, 3, 4 or 5 years; and
- with no balloon (end of term lump sum payment)
Loan must be drawn down within 35 days from the date of our online quote.
Vehicle and equipment loans are subject to approval. Standard Vehicle & Equipment Loan terms and conditions, fees and charges apply.
Online decisions are subject to eligibility, credit assessment, lending criteria and ID verification. You can read the full eligibility criteria online.
5.49% online fixed rate is available from 5 November 2018, remains valid until withdrawn and is subject to change without notice.
$0 deposit on loans up to $150K: Generally, the security is the asset itself; though in certain circumstances additional security or a deposit might be required – this will be assessed on application.
Loans up to 5 years: Loans applied for online delivered after final approval and receiving the final tax invoice from a dealer. Private sales require extra time to conduct an inspection and valuation.
2Generally, the security is the asset itself; though in certain circumstances additional security might be required – this will be assessed on application.
3$500 fee applicable only to loans approved online.
The Personal Property Securities Registration and Maintenance fee is payable for each asset you purchase and finance. Additional fees may apply, refer to our Business Banking Fees and Charges and Interest rates, fees and charges for more information.
Let's talk
We’re ready to help your business
Easy online quote
Apply online
Talk to an Equipment Finance specialist
1300 191 462
Mon-Fri 9am - 5pm (AEST/ADST)