Used Equipment Financing
Used equipment financing for pre-owned machinery, vehicles, and assets. Take advantage of significant cost savings versus new with up to 85% financing, flexible terms, and fast approvals tailored to used equipment's remaining useful life.
About Used Equipment Loans
Used equipment financing enables businesses to acquire quality pre-owned assets at 30–70% savings versus new equipment. Whether buying from a dealer, auction, or private party, the financing structure is similar to new equipment but with tighter evaluation of the asset’s condition, age, and remaining useful life. Appraisal or inspection is often required for larger or older units. Term length is typically capped at the equipment’s estimated remaining useful life.
Key Features & Benefits
Everything you need to know about what makes Used Equipment financing a smart choice.
Up to 85% Financing
Finance most of the purchase price with down payment typically 15–20% for used equipment.
Significant Cost Savings
Used equipment is typically 30–70% less expensive than new, dramatically improving ROI.
Fast Approvals
24–72 hour approvals for standard equipment in good condition from reputable sources.
Flexible Age Guidelines
Most programs finance equipment up to 10–15 years old (varies by equipment type and useful life).
Section 179 Eligible
Used equipment also qualifies for Section 179 immediate tax deduction.
Auction & Private Party
Finance equipment from auctions, dealers, or private party sales.
Who Uses Used Equipment Financing
- Used construction equipment from dealer or auction
- Pre-owned commercial trucks and trailers
- Refurbished medical or dental equipment
- Used restaurant and kitchen equipment
- Pre-owned machine shop or manufacturing equipment
- Used agricultural equipment and tractors
- Fleet acquisitions of used vehicles
- Pre-owned printing, packaging, or industrial equipment
Qualifications & Eligibility
- Business in operation 2+ years preferred
- Credit score 650+ (620+ accepted with lower LTV)
- Equipment under 10 years old for most programs (up to 15 for long-life assets)
- Inspection or appraisal for equipment over $100K or older units
- 15–20% down payment typical
- Clean title with no outstanding liens
- Invoice or bill of sale from legitimate source
How It Works
Our streamlined process gets you from application to funding quickly.
Equipment Evaluation
Submit equipment details: make, model, year, hours/miles, condition, and seller information.
Quick Approval
Application and approval typically 24–48 hours for standard equipment from dealers.
Inspection (if needed)
For equipment over $100K or older units, third-party inspection may be required.
Documentation
Finalize loan docs, lien filing, and seller payment instructions.
Funding to Seller
Funds wired directly to seller; borrower takes possession and begins payments.
Why Choose Growth Fund Partners for Used Equipment
Frequently Asked Questions
Common questions about Used Equipment loans answered.
How old can the equipment be?
Most programs finance equipment up to 10 years old. Long-life assets (heavy construction, agricultural) can go 15+ years. Equipment type and remaining useful life determine eligibility.
Do I need an appraisal?
For used equipment under $100K from a dealer, typically no appraisal is required. Above $100K, private party sales, or older equipment may require third-party appraisal/inspection.
Can I finance auction purchases?
Yes — many programs specifically finance auction purchases. You\u2019ll need pre-approval before bidding, then execute the financing once you\u2019ve won the auction.
What\u2019s the rate difference vs. new?
Used equipment financing is typically 1–3% higher than new equipment at the same credit profile due to higher residual value uncertainty. Savings on purchase price usually more than offset this.
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