Quarry blast-hole drill rigs cost from around £180,000 for a compact hydraulic rig to £550,000 for a large diesel-powered production rig, and financing is close to standard practice given the scale of the investment.
Yes, drill rigs 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 £180,000 to £550,000, and most deals are written over 12-84 months with a deposit of around 10-20%. Decisions typically take 24–48 hours. Used machines are financeable too, usually with a shorter term.
Typical Cost
£180k – £550k
Approval Speed
24–48 hours
Same-day for straightforward deals
Rates From
5.4% - 9.9% per annum
Your estimate
Indicative only. Not a quote and not an offer of finance.
Pre-filled with a typical drill rig price. Indicative only, not a quote.
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Check EligibilityOn a purchase price of £320,000: a 10% deposit of £32,000, then 48 monthly payments of £6,750 at 5.9% APR representative (fixed). Total amount payable £356,000, including the deposit. The rate you are offered depends on your business and the asset.
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 |
|---|---|---|
| Compact hydraulic surface drill rig (up to 89mm hole diameter) | £180,000 - £280,000 | Hydraulic Surface Drill Rig |
| Mid-size production drill rig (89-127mm hole diameter) | £280,000 - £420,000 | Hydraulic Surface Drill Rig |
| Large production drill rig (127mm+ hole diameter, tophammer or DTH) | £420,000 - £550,000 | Hydraulic Surface Drill Rig |
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Check EligibilityA drill rig is treated as plant and machinery for tax purposes, so it qualifies for the Annual Investment Allowance (AIA), letting a business deduct the full cost from taxable profits in the year of purchase, up to the current £1,000,000 annual limit. Companies buying new, unused equipment may also qualify for full expensing, a 100% first-year deduction against Corporation Tax. These allowances apply where you own the asset, so they are available under a Hire Purchase agreement. Under a Finance Lease or Operating Lease you do not own the rig outright, so allowances are not claimed directly; instead the payments are generally deducted as a business expense against profits. Always confirm treatment with your accountant before committing to a structure.
Blast-hole drill rigs are bought almost exclusively by quarry operators and mining contractors who need to bore a regular pattern of holes ahead of blasting, so the rig's output is tied directly to how much rock a site can move forward. Financing is close to standard practice given the scale of the investment, and lenders look closely at the site's blasting licence and the operator's track record, since the drill rig only earns its keep once permitted extraction is under way. Replacement is driven by wear to the rig's rotation head, compressor and drill string rather than the chassis, and used rigs hold value well internationally, particularly where a documented maintenance history exists.
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.
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