An excavator is the machine that gets you paid, so the financing should match how it actually earns. Here is what we finance, what the lenders look at, and what a payment tends to look like.
What we finance
Wheeled excavators, rubber-track and steel-track, cab or canopy, all fine. We also finance the trailer or lowboy that moves it, on the same application if you want one payment.
New, used, and private party
Dealer machines are the easiest file. The dealer invoices the lender, the lender pays the dealer, you pick up the machine.
Used machines are the majority of what we see. Most programs go to 10 years old at funding, some to 15 or older on a strong operator with a good machine. Hours matter less than condition and serial-number verification. An inspection report or a walk-around video with the hour meter helps.
Auction buys (Ritchie Bros, IronPlanet, Purple Wave, local auctions) work, but timing is tight. Get pre-approved before bid day so the lender can wire inside the auction's payment window.
Private-party sales are welcome and most brokers avoid them. The lender will want a bill of sale, a lien search on the serial number, proof the seller owns it free and clear, and usually an inspection. Budget an extra two or three days.
Who gets approved
- Established contractors with two-plus years and a 650-plus score see the best rates and app-only approvals to around $150K to $250K without financials.
- Start-ups and first-machine buyers get approved every week. Expect a 10 to 20 percent down payment, a personal guarantee, and a shorter term on the first deal. Industry experience counts: a former operator going out on their own is a very different file than a first-timer.
- B and C credit, past bankruptcies, and thin files are matched to story-credit programs that look at bank statements and cash flow instead of just the score. Rates are higher, but the machine still goes to work.
- Owner-operators and sole proprietors are fine. You do not need to be an LLC.
How the deal closes
Once you pick an option: the lender sends documents for e-signature, you send a certificate of insurance naming them as loss payee (typically $1M liability, physical damage on the unit), the seller sends the invoice or bill of sale, and funding goes out, usually the same or next business day. Some programs put a GPS unit on the machine. Titles do not exist on excavators, so the lender files a UCC lien on the serial number instead.
Soft costs like delivery, attachments, extended warranty, and sales tax can usually be financed on top of the machine price, up to 100 percent or a little over on strong files.
What a payment can look like
Rough ranges so you can budget before you call a dealer.
| Amount financed | Term | Strong credit | Average credit | Challenged or start-up |
|---|---|---|---|---|
| $45,000 | 48 mo | $1,118/mo | $1,205/mo | $1,320/mo |
| $95,000 | 60 mo | $1,967/mo | $2,157/mo | $2,407/mo |
| $185,000 | 60 mo | $3,831/mo | $4,200/mo | $4,688/mo |
| $320,000 | 72 mo | $5,752/mo | $6,407/mo | $7,280/mo |
Illustrative estimates only, not offers or quotes. Real payments depend on the funding program, credit, time in business, down payment, equipment age, and documentation fees. Seeing your actual options starts with a soft credit inquiry. Run your own numbers in the payment calculator.
Questions we get
Can I finance an excavator with no money down?
Yes on stronger files: two-plus years in business, a 680-plus score, and a dealer machine. Start-ups and challenged credit usually put 10 to 20 percent down, and some programs will let you finance the first payment instead of a deposit.
How old can a used excavator be?
Most of our programs fund machines up to 10 years old, several go to 15, and a few will go older on a strong operator with a good machine and a full inspection. Hours are secondary to condition.
Do you finance excavators from a private seller?
Yes. We need a bill of sale, a lien search on the serial number, proof of ownership, and usually an inspection or a detailed walk-around video. Expect an extra couple of days versus a dealer purchase.
Lease or loan for an excavator?
An equipment finance agreement (loan) is the default: you own it, you depreciate it, Section 179 applies. A $1 buyout lease works the same way in practice. A fair-market-value lease lowers the payment but you do not own the machine at the end. We quote both when it makes sense.
How fast can this close?
App-only deals under about $150K to $250K get decisions in 24 to 48 hours and fund the next business day after documents and insurance. Larger or private-party deals take a few more days for financials and inspections.
