Westpac Equipment Finance: Broker Guide

Westpac equipment finance funds business vehicles and equipment through a goods loan, finance lease or hire purchase. Accredited equipment-finance brokers use DriveOnline for quotes and applications. Existing customers use a separate service route for account enquiries and payout figures.

As at October 2026, Westpac’s introducer site lists all three structures and an active equipment-finance accreditation process. Choose the structure by who owns the asset and how the business plans to repay it. The asset finance policy guides cover other lenders and transaction types.

Westpac Equipment, Asset and Chattel Wording

Westpac’s goods loan is its chattel-mortgage structure: the business owns the asset from purchase, and Westpac takes the asset as security. As at October 2026, Westpac calls its customer-facing products Business car loan and Business equipment loan.

The provider is Westpac Banking Corporation. “Equipment finance” and “asset finance” describe the broader funding category. They don’t tell you whether the client owns the goods at settlement.

Westpac structure	Ownership and payments	What it means for the proposal
Goods Loan, also called a chattel mortgage	The business owns the asset from purchase and repays a loan secured by it	Identify the borrower buying the asset and the goods securing the loan
Finance Lease	Westpac buys the asset and the client rents it for an agreed period	Establish the residual and end-of-lease obligations
Hire Purchase	Westpac buys the asset and the client buys it in instalments	Ownership transfers after the final repayment

A Westpac business car loan covers business vehicles such as cars, vans and trucks. The published loan has a fixed rate and a term of one to seven years. Regular repayments are typically monthly, with an optional balloon payment at the end.

A balloon lowers regular repayments but leaves a lump sum to repay and increases total interest compared with the same loan without a balloon. Record how the business will fund that final payment. For the ownership and security mechanics, see the chattel mortgage guide.

Asset and Transaction Eligibility

Westpac’s business car and equipment loans cover new or used assets for businesses based, registered and operating in Australia. As at October 2026, both product pages require the asset to be fully or mostly used for business purposes.

The equipment page names farm, commercial kitchen and dental equipment. Westpac’s broker material also identifies material handling, earth-moving and agricultural equipment within its DriveXpress asset categories. Inclusion in a category doesn’t establish that every asset in that category qualifies for fast-track assessment.

Private sales have a documented route. The broker forms page provides an Invoice Private Sale form and supplementary supplier documents for particular circumstances. Submit the seller’s details and ownership evidence with the transaction facts.

Use written scenario confirmation for the conditions that depend on the actual asset or purchase:

• Give the manufacture year, current condition and proposed term for used assets. Westpac says vehicle age can shorten the available term.
• For a private sale, identify the seller, purchase price, existing finance and evidence of ownership.
• For imports, describe the country of origin, delivery status and Australian registration or compliance records.
• For refinance, identify the existing lender, outstanding facility and whether the client already owns the asset.
• For specialised equipment or an exotic vehicle, give the exact model, useful life and available valuation or inspection evidence.

Ask the equipment-finance business development manager (BDM) to confirm the applicable asset category, pathway and conditions in writing. This resolves a specific transaction question before a quote is treated as an approval. The wider equipment finance guide covers assessment across lenders.

Application and Security Evidence

Prepare the initial Westpac broker pack around the client, repayment capacity and goods being financed. As at October 2026, the current minimum-documentation checklist applies to direct DriveOnline submissions and separates the pathways.

The checklist’s common records include client details, business and director background, a full description of the goods, purchase purpose and individual privacy consents. It lists an Australian Business Number (ABN) held for two years and goods and services tax (GST) registration, with a 12-month exception for SIMPLE+.

Financial evidence depends on the pathway and exposure. The checklist includes business activity statements (BAS), Australian Taxation Office (ATO) account records, financial statements or business tax returns, liabilities and existing finance commitments. Related companies and trusts can need financial statements too.

Use the current pathway column for the exact periods and documents. Redact tax file numbers from ATO records. Include a copy of an ATO payment plan where one exists.

Keep purchase and settlement records separate from the initial financial pack:

Record	Purpose	Timing
Supplier quote or invoice	Identifies the supplier, buyer, goods and purchase price	Supply purchase details for assessment and the required final invoice for settlement
Vehicle identification number or equipment serial number	Identifies the exact security asset	Obtain it when available and reconcile it with the final documents
Registration and ownership records	Establishes who owns the goods and any existing finance	Supply as relevant to the transaction and issued conditions
Insurance evidence	Shows cover for the financed asset	Follow the insurance requirements issued for the approved structure
Signed finance documents and repayment authority	Records the agreed facility and payment instructions	Complete the issued settlement documents

Westpac’s forms page contains product-specific tax invoice templates and a direct debit request. Its fees booklet identifies security search and registration charges. The approval and settlement instructions determine which security, insurance or inspection conditions must be satisfied before funds release.

Broker Submission and Application Support

Westpac’s equipment-finance application channel is DriveOnline, accessed through equipment-finance accreditation. As at October 2026, the accreditation page requires aggregator signoff and lodgement of the accreditation application and supporting records.

A successful equipment-finance applicant receives an accreditation code and DriveOnline login. Contact your aggregator representative first to establish panel access and its accreditation process. Home-loan accreditation alone doesn’t establish equipment-finance access.

1. Select the finance structure and collect client consent.
2. Describe the borrower, trading history, asset and purchase in DriveOnline.
3. Use the appropriate assessment pathway. DriveXpress and SIMPLE+ operate within DriveOnline and have separate eligibility rules.
4. Submit the required evidence and retain the application reference.
5. Track the assessment and complete the issued documentation and settlement conditions.

For a quote, use DriveOnline and the rates supplied by your equipment BDM or relationship executive. Westpac’s broker product page states that settlement must occur within seven days of obtaining a rate. Record that deadline separately from the approval’s validity.

Where a criterion doesn’t settle the case, send a concise scenario to the equipment team. Include the legal borrower, related entities, guarantors, trading history, existing Westpac exposure and repayment evidence. Add the asset’s age, supplier, purchase price, business use, requested term and balloon.

For a live file, include its reference, the outstanding condition and the planned settlement date. Direct system-access issues to DriveOnline Support and settlement questions to the relevant standard or Xpress team.

Contact Numbers and Enquiry Routing

Use the Westpac equipment-finance contact that matches the task. The routes below are listed on Westpac’s public pages as at October 2026.

Task	Official route	Function or access condition
New customer quote or enquiry	1300 360 322, or the vehicle and equipment finance page’s quote/callback options	Product-page phone hours are 8am to 6pm, Monday to Friday, Sydney time
Broker deal build and documentation	1300 360 422 or businessfinanceopsenq-nsw@westpac.com.au	Broker Phone Service also handles settlements and supplier accreditation
DriveOnline reactivation or system support	driveonlinesupport@westpac.com.au	Portal-support route for brokers
Standard equipment settlements	wefsettlements@westpac.com.au	Standard settlement team
Xpress equipment settlements	drivexpress_settlements@westpac.com.au	Xpress settlement team
Existing equipment account or asset-release enquiry	1300 360 322	Identify the facility and service request when calling
Equipment collections enquiry	1300 650 110	Collections team
Financial hardship	1800 067 497 or business_assist@westpac.com.au	Westpac Assist for customers experiencing financial difficulty

The introducer contact directory also lists equipment-finance contacts by state. Choose its equipment team for transaction support.

For complaints, use Westpac’s complaints page. It provides secure online routes and 132 032, available 8am to 8pm, seven days a week except public holidays. Keep the complaint reference separate from any application or account reference.

Payout Figure Requests

Request a Westpac equipment-finance payout through 1300 360 322. As at October 2026, Westpac’s Business Release Enquiry page directs equipment-asset releases to that number, outside its property-release form.

Westpac’s break-cost fact sheet, marked September 2022 and still linked on its broker forms page, specifies option 2 for payouts. Have the account holder request the figure or establish Westpac’s accepted authority for a broker to act.

Prepare the facility or contract number, borrower name, asset details and intended payout date. State whether the request concerns a sale, refinance or early repayment. Ask for a written payout quote and asset-release instructions.

Before relying on the quote, establish these details:

1. The effective payout date and the date the quote expires.
2. Whether the amount includes the balloon, accrued interest, early termination fee, break costs and other outstanding charges.
3. The payment destination and reference supplied through Westpac’s authorised channel.
4. What happens if a scheduled instalment is collected before payout or the payment date changes.
5. The clearance and security-release steps after payment.

Westpac’s fact sheet says a break-cost estimate is valid for seven business days. That period applies to the break-cost estimate. Use the written payout quote’s own validity and payment instructions for the complete facility.

The fees booklet dated 23 August 2024 lists early termination and break costs for equipment-finance products. The contract and dated payout quote determine the applicable amount. If payment moves beyond the quoted date, obtain the recalculated figure before arranging settlement.