Finance for excavators, diggers, and plant machinery — new or used

Yes — many lenders on our panel specifically finance used plant and machinery, including assets purchased at auction. The key factors are the asset's age, condition, and residual value. We work with lenders who are comfortable with second-hand and auction-purchased excavators, diggers, and plant. You will typically need a supplier invoice or auction receipt as part of the documentation.

For established businesses with clean credit, many plant finance agreements require little or no deposit. A 10–20% deposit is more common where the credit profile is average or the machine is older. For start-up businesses or adverse credit cases, 20–30% is more typical. A deposit always reduces monthly payments and total cost of finance.

Yes, though with different requirements. A new business will typically need a meaningful deposit (20–30%), a personal guarantee from the director, and evidence of the director's sector experience. See our dedicated Start-Up Asset Finance page for more detail on the specific requirements and how we approach new business applications.

Hire purchase is generally preferred for plant and machinery that you expect to own and operate for several years — the asset is yours once the final payment is made, and capital allowances may apply. Finance lease is more suited to machinery you expect to replace regularly, or where lower monthly payments are the priority. We will recommend the right structure based on your specific situation.

Typically 24 to 72 months (2 to 6 years) for plant and machinery, depending on the asset's expected working life, the lender, and your preference. Longer terms reduce monthly payments but increase total interest paid. We will help you find the right balance based on the asset's depreciation profile and your cashflow requirements.