Machinery Financing In New Zealand
Machinery financing should not be stressful. At Crester Credit, we take the guess work out of your financing needs by providing you with a quick and easy loan, empowering you to make the right choice in machinery and equipment. Become one of countless customers we have assisted with farm machinery loans.
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Flexible responsible lending
While many lenders take a one size fits all approach, we consider individual applications on their own merit. Check out our online machinery finance calculator to get an idea of repayment terms and affordability.
Looking at the broader picture
Historically, a challenging credit history may have led to an immediate refusal when applying for finance. Today the situation is different. We take a look at the broader picture including income, level of finance and security available.
Machinery finance rates
Our standard rates vary between 9.95% and 26.98%, dependent on circumstances, credit history and security available. We take a transparent and flexible approach to lending, seeking solutions to match your exact requirements.
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Machinery finance calculator
Compare and contrast repayment terms with our online New Zealand machinery finance calculator. When buying machinery, a deposit is usually required, securing the sale. You can spread your repayments over up to 36 months.
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Repayment Details
1 YEAR
Your approximate weekly payment
$22.60 PER WEEK* This is an approximate loan duration and amount based on assumed adequate security & collateral, job security, income, residence situation and positive references. This is subject to the New Zealand responsible lending code. Terms and conditions apply.
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Rates
With Crester, you can repay your loan over a term of up to 36 months, with flexible weekly or monthly repayments to suit your budget. Our interest rates range between 9.95% and 26.98% p.a., depending on factors like your credit profile, loan purpose, and selected term. For a full breakdown including early repayment options, default interest, and establishment fees, please refer to our Rates and Fees page.
Terms
Before applying with Crester, please take a moment to review our terms and conditions. When you apply, you’re agreeing to let us collect and securely store your personal details. We aim to ensure all information on our site is current and accurate. If anything seems off, get in touch in writing and we’ll work to correct it. Crester follows New Zealand’s Responsible Lending Code.
Fees
Your personal data is protected with end-to-end encryption on all Crester web forms, ensuring your details remain secure throughout the loan process. We manage all client information with strict confidentiality, using robust security measures to guard against unauthorised access. Crester also complies fully with New Zealand’s privacy laws. For more information, see our Privacy Policy.
Machinery finance
Buying machinery can be a significant investment, so it’s important to do your research. There is the option to buy brand new, but you’ll get a lot more value for money by buying machinery second hand. Go for brands that are reliable and well-known, such as John Deere, ensuring the right parts are readily available when you need them. Unsure? You can give a dealer a call and ask them if they’re able to get hold of certain brands’ parts, and you’ll have a better idea of what you’re in for.
What is the maximum machinery financing available?
Crester Credit offers loans up to NZ$100,000, which is a good amount for you to shop around for good deals on second hand machinery. We have a flexible approach to machinery financing, but also maintain a sense of responsibility when it comes to affordability. Loan rates are fixed on approval and we offer between 9.95% and 26.98% interest rates. Since you’ll have your personalised rate fixed the moment you’re approved, you’ll be able to shop around for machinery with confidence. Everything from charges to terms and conditions is clear and transparent from the get-go, allowing you to plan ahead.
Loan durations are up to three years. Chat to us to see how we can assist you with machinery finance.
New or second-hand: Buying machinery
When deciding between new or second-hand machinery, there are many factors to weigh up. Brand new is tempting, but as with all vehicles, they lose value fast the moment you take them off the lot. Not only that, but they’re significantly more expensive than their second-hand counterparts. Second-hand machinery has its drawbacks too, though. You have to be confident in the seller you’re buying from, so going for a reputable dealer is vitally important. It’s also crucial to shop around. You may find a piece of machinery that’s wildly cheap compared to others – that’s a red flag, since the equipment may have faults that will be expensive to repair down the line. In any case, it’s important to do your research, understand what to look out for, and work within a budget.
Handy tips
Check where the machinery is stored When going to view a piece of machinery for sale, it’s important to see where it is normally kept. Proper storage of farm machinery is crucial to ensuring it stays in good condition. It needs to be under cover and away from the elements or it will deteriorate rapidly. When looking at this area, have a look at the ground and see if anything may have leaked from the vehicle or machinery.
Research the average of the machinery you’re after Going online and scouring digital classifieds is the easiest way to see how much machinery is selling for these days. Look for the item you want and try and pick out consistencies with pricing, year, and mileage. That way if you find a bargain, you can take extra care to ensure it’s not a scam. Having the right knowledge gives you confidence while shopping around.
Interest rates on machinery financing Our customers appreciate that we offer a really flexible approach to machinery finance. We have a wide range of interest rates (varying between 9.95% and 26.98%) and while we are flexible, we offer a repayment period of up to 36 months. We balance flexibility with responsible lending.
Give the machinery a full examination Once you’ve checked how the machinery has been stored and whether it’s been leaking anything, it’s time to take a closer look. Dead grass in its usual parking space can signal that it hasn’t been used in a long time – you may want to ask the seller why. Look for any seepage coming from any part of it. Examine the oil to ensure it is changed regularly and the filters are clean. Then ask the seller to start the machinery up to see if any smoke comes from the engine, which may spell trouble (although a little smoke on start-up is normal).
Go for a test drive Just like buying a car, purchasing machinery means taking it for a spin. This is the best way to learn of any faults that aren’t obvious when the machinery is stationary. Watch out for wobbliness, weird noises, and anything strange when changing gears.
Frequently Asked Questions
Besides the machinery itself, the seller is the most important part of buying machinery second-hand. The impression you get of the seller will help you understand how they took care of the machinery before selling it. Sloppy presentation and a messy farm will tell you a lot about what kind of machinery owner they are and will help you decide if the sale is worth it.
Before you bring home your new piece of machinery, it’s important that you have an appropriate place to store it. If you’re replacing an old tractor for example, you most likely have a space where the new one can be stored, but if this is a new piece of equipment, and in particular a large piece of equipment, it’s imperative that you have taken into account the cost of storing it.
When making a large machinery purchase with finance, a deposit is usually required to secure the loan and make it a done deal. Deposits also help with reducing the amount of interest you pay and the cost of your monthly repayments. We will discuss all of this with you when we go over your application.
What your loan really costs
No surprises. Here’s the full picture before you apply:
- Interest rate: between 9.95% and 26.98% p.a., personalised to your situation and fixed for the life of your loan.
- Establishment fee: between $135 and $995 depending on your loan size, charged once at the start.
- Administration fee: $10, plus $5 for each additional borrower.
- Repaying early: a $65 administration charge applies, plus any prepayment charge as calculated under the regulations.
Every fee we charge is published on our loan interest rates and fees page, and your loan contract shows your exact rate, fees and total repayments before you sign. For a personalised repayment estimate, use the calculator above.
Real people, start to finish. Talk to the same friendly team from application to payout. Meet the Crester team
APPLY NOW, DECISIONS USUALLY NEXT BUSINESS DAY*
* Decisions are usually made on the next business day after your application. Our online application form takes only six-eight minutes to complete, subject to approval in accordance with the responsible lending code of New Zealand. Start by filling this in, and if you’d like to talk with one of our loan officers, please make a note of it in the application, and we’ll contact you as soon as possible.
What New Zealand Borrowers Say About Us
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Vehicle Finance Questions? Ask Our lending team
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We appreciate that time is very often of the essence when it comes to buying machinery, therefore we typically respond almost immediately. In the interests of transparency, our charges, interest rates, as well as terms and conditions are published on our website. An in-depth commonly asked questions page will also address various issues that may arise. We have the experience and the resources available to assist with all things related to machinery finance.
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