Can you finance a crane?

Yes, cranes are financed as a standard asset purchase, usually on hire purchase or a lease, with the machine itself acting as the security. UK prices typically run £50,000 to £2,000,000, and most deals are written over 24–84 months with a deposit of around 10–20%. Decisions typically take 48 hours – 5 days. Used machines are financeable too, usually with a shorter term.

Crane Finance: Compare Rates from 200+ Lenders

Typical Cost

£50k – £2000k

Approval Speed

48 hours – 5 days

Faster for sub-£250k deals

Rates From

3.8% APR

What would a crane cost per month?

Crane price (ex VAT) £350,000

Deposit 10%

Agreement term 60 months

Annual interest rate 9%

Balloon payment £0

Your estimate

Indicative only. Not a quote and not an offer of finance.

Pre-filled with a typical crane price. Indicative only, not a quote.

Finance options

Hire Purchase (HP)

Rate: From 4.2% APR
Term: 24–84 months
Deposit: 10–20%
Ownership: Yours at the end
Best for: Crane hire companies wanting to own the asset outright

Finance Lease

Rate: From 3.8% APR
Term: 24–84 months
Deposit: None required
Ownership: Return or buy (balloon payment)
Best for: Tax-efficient, claim 100% of payments against profit

Operating Lease

Rate: From 4.8% APR
Term: 36–72 months
Deposit: None required
Ownership: Return at end
Best for: Access the latest crane technology. Off balance sheet.

Representative example

On a purchase price of £350,000: a 10% deposit of £35,000, then 48 monthly payments of £7,383 at 5.9% APR representative (fixed). Total amount payable £389,384, including the deposit. The rate you are offered depends on your business and the asset.

What buyers actually specify

Guide prices for sizing a finance agreement, not quotes. Manufacturers in this market mostly price on application, so where a current UK list price could not be confirmed the row describes a specification class rather than naming a model. Your supplier quote is what the agreement is written against.

Machine or specification	Guide price	Type
Liebherr LTM 1060-3.1	£400,000 – £650,000	60t Mobile Crane
Tadano GR-300EX	£200,000 – £350,000	30t Rough Terrain Crane
Potain MCT 88	£150,000 – £250,000	Tower Crane
Kato CR-250Rv	£180,000 – £300,000	25t City Crane

Tax benefits

Cranes qualify for Annual Investment Allowance (AIA), letting you deduct the full purchase cost from taxable profits in year one, up to £1,000,000. For purchases above the AIA limit, writing-down allowances apply at 18% per annum. Lease payments are fully deductible from profits.

Market context

Cranes are bought mainly by specialist lifting and crane hire companies rather than by contractors themselves, since running a crane fleet well needs dedicated operators, planning engineers and maintenance capability most construction firms would rather hire in. Because a crane is one of the largest single assets a business will own, finance is almost always used, structured around long-term hire contracts and major infrastructure or house-building work that gives the lender confidence in future income. Replacement is driven by hours, load-testing and certification requirements rather than age. A specialist used market exists, with cranes from the major manufacturers retaining value well.

Bad credit?

Several of our 200+ lenders specialise in businesses with imperfect credit histories. You may need a larger deposit or personal guarantee, but options exist. Checking your options here does not affect your credit score, because we do not run a credit search to match you. A lender will run their own checks only if you decide to apply.

Frequently asked questions

Can I finance a used crane?

Yes, most lenders finance used cranes up to around 15 years old, given proper maintenance records. An independent engineer's report and valuation are typically required, and rates for used cranes are usually a little higher than new to reflect the shorter remaining working life. Load-testing history and certification matter as much as hours or age here, since a crane's ability to keep operating legally depends on passing regular statutory inspection, and a machine with gaps in that record will be viewed far more cautiously than one with a complete history.

What deposit do I need for crane finance?

For hire purchase, most lenders ask for a 10-20% deposit, while finance leases and operating leases may require no deposit at all. Given the high values typically involved, a larger deposit can significantly improve both the rate and terms offered. Because a crane is usually financed against long-term hire contracts or a specific infrastructure or house-building programme, lenders will often look at the strength of that underlying contract alongside the deposit when deciding how much flexibility to offer on the size of the down payment.

How quickly can I get crane finance?

For standard deals, approval is typically within 48 hours to 5 working days, and this is often faster for sub-£250,000 deals where the specification and trading history are straightforward. Cranes over £500,000 may require a more detailed credit assessment, taking up to two weeks for full approval given the scale of investment and the operator, maintenance and planning capability the lender needs to be satisfied is in place before committing to such a large asset.

Do I need to have been trading for a minimum period?

Most lenders require at least three years of trading history for crane finance, given the high values involved. A strong balance sheet and evidence of existing hire contracts significantly improve your chances of approval, since a lender wants confidence that the crane will be earning against confirmed work rather than speculative demand. A newer lifting business without that track record can still explore finance, but is likely to need a personal guarantee, additional security, or a considerably higher deposit to offset the shorter trading history.

What happens at the end of a crane finance agreement?

Hire purchase transfers full ownership of the crane once the agreement is paid off, which suits a lifting company wanting to own the asset outright and keep using it across successive contracts. A finance lease usually offers a balloon payment to take ownership, continued rental, or handover to the funder, while an operating lease is return-only, which suits a business wanting access to the latest crane technology rather than running the same machine for its full working life. Hours, load-testing outcomes and certification requirements, more than age, tend to drive replacement.

Can I part-exchange an existing crane against a new purchase?

Yes, and given how well cranes from the major manufacturers retain value, part-exchanging an existing crane is a common way to reduce the amount of new finance needed on an upgrade. If the outgoing crane still has finance outstanding, the lender will need to settle that balance first, with any remaining part-exchange value applied towards the deposit or price of the replacement crane rather than paid to you directly. Getting an independent valuation on the outgoing crane early in the process helps structure the new finance accurately from the outset.

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Crane Finance