EQUIPMENT FINANCING NATIONWIDE
Financing Used Heavy Equipment
A complete guide to the advantages of buying used, real cost savings, where to buy, and how to finance it with Axe Business Funding.
New vs. Used Heavy Equipment: Which Makes Sense for You?
Every heavy equipment purchase starts with the same question: should I buy a new or used excavator, skid steer, dump truck or loader? The answer depends on your specific situation. Your utilization, application, cash flow and monthly budget all factor into the decision.
Buyers who rush into a purchase risk overextending their capital or ending up with very expensive monthly payments. Weighing what actually makes sense for your business is the biggest factor.
Buying New
- Advantages
- Latest technology & features
- Full manufacturer warranty
- Lower risk of major repairs
- Trade-offs
- Higher upfront cost
- Faster depreciation
Buying Used
- Advantages
- Lower purchase price
- Proven performance
- Slower depreciation
- Wider selection & availability
- Greater cost savings & ROI
How Much Can You Save Buying Used?
Buying used can significantly reduce your equipment cost and monthly payment while still delivering the performance and reliability your business needs.
| Example: Excavator | New | Used | Your Savings |
|---|---|---|---|
| Purchase Price | $120,000 | $65,000 | $55,000 |
| Est. Monthly Payment* | $2,433 | $1,318 | $1,115 less |
| Total Payments (60 mo)* | $145,990 | $79,078 | $66,912 less |
*Illustrative example at 8.0% annual interest, 60-month term. Actual rates, terms and payments will vary based on credit, equipment and business qualifications.
The Real Benefits of Buying Used
- Lower monthly payments, the first and biggest benefit.
- Brings in the same revenue to your business at a much lower cost.
- Lower costs, less depreciation and a faster return on your investment.
Where to Buy Used Equipment
Compare your options: dealers, private sellers and auctions. Each source has unique benefits, pricing and considerations, and Axe can finance purchases from all three.
Financing From a Private SellerFinancing Used Heavy Equipment
Turn the right piece of equipment into a smart, affordable purchase. Axe offers used equipment financing and used equipment loans for excavators, skid steers, dump trucks, wheel loaders, backhoes, dozers and more, including private seller purchases, with options for qualified businesses.
Payment CalculatorWhy Finance Your Used Equipment with Axe?
- Finance used equipment from dealers, private sellers or auctions
- Financing for construction, excavation, landscaping & more
- Competitive, business-focused financing programs
- Fast, straightforward application with quick decisions
- Options for less-than-perfect credit
- Nationwide funding in all 50 states
Used Heavy Equipment Financing FAQs
Can I finance used equipment for my business?
Yes. Axe Business Funding finances used equipment for businesses nationwide. Non-titled equipment does not have an age restriction, giving you greater flexibility when purchasing older equipment. You can purchase used equipment from a dealer, private seller, or auction. Titled equipment may have age or mileage restrictions depending on the type of equipment.
What types of used equipment can I finance?
We can finance virtually any equipment that is applicable to your business, including specialty equipment. Whether you're purchasing construction equipment, heavy equipment, landscaping equipment, or specialized machinery, we can review the transaction and available financing options.
Can I finance equipment purchased at an auction?
Yes. We work with auction houses across the country. You can get pre-approved for equipment financing before an auction, or we can begin working on the financing after you've won the equipment. Since auctions typically provide a limited amount of time to complete payment, we can get to work on your transaction right away.
Can I get equipment financing with bad credit?
Yes. Axe Business Funding offers equipment financing for less-than-perfect credit. Challenged-credit transactions may require a down payment and may have shorter financing terms. We also report to business credit bureaus, which can help your business establish and build business credit.
Can I finance equipment with no money down?
Yes. Many of our equipment financing programs require no money down for qualified applicants purchasing new or used equipment. Down-payment requirements depend on your credit profile and the overall transaction.
How quickly can I get approved for equipment financing?
We can provide same-day equipment financing approvals when we have the information needed to review your transaction. Typically, we'll need a completed application, your most recent three months of business bank statements, and an invoice or quote for the equipment.
How much can I borrow for equipment financing?
Our Application-Only equipment financing programs are available for transactions up to $250,000. For larger transactions with financial documentation, equipment financing may be available for up to $2 million.
Can I get equipment financing anywhere in the United States?
Yes. Axe Business Funding provides equipment financing nationwide. We can finance equipment purchases throughout the United States, including titled equipment, and handle the financing process for you.
Run the Numbers on Your Next Equipment Purchase
Use our Equipment Financing Calculator to enter your equipment cost and term, and see an instant estimated payment.