Excavator Finance

Q: Can I finance a used excavator?

Yes. Most lenders finance used excavators up to 10 years old. An independent valuation is usually required for machines over 5 years old. Rates for used equipment are typically 0.5–1% higher than new.

Q: What deposit do I need?

For hire purchase, most lenders ask for 10–20% deposit. Finance leases and operating leases often require no deposit. A larger deposit reduces your monthly payments and may unlock better rates.

Q: How quickly can I get excavator finance?

Most applications are approved within 24–48 hours. Straightforward deals under £100k often get same-day approval. Larger or more complex deals may take 5–7 working days.

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

Most lenders require 2+ years of trading history. Start-up businesses can still access finance but may need a personal guarantee or higher deposit.

Spread the cost of excavators from £15,000 to £350,000+ with flexible finance options. HP, lease, or refinance — compare rates from 40+ lenders.

Typical Cost

£15k – £350k

Approval Speed

24–48 hours

Same-day for < £100k

Rates From

From 4.4% APR

Finance options

Hire Purchase (HP)

Rate: From 4.8% APR
Term: 12–84 months
Deposit: 10–20%
Ownership: Yours at the end
Best for: Businesses wanting to own the excavator outright

Finance Lease

Rate: From 4.4% APR
Term: 12–84 months
Deposit: None required
Ownership: Return or buy (balloon payment)
Best for: Tax-efficient — claim 100% of payments against profit

Operating Lease

Rate: From 5.1% APR
Term: 24–60 months
Deposit: None required
Ownership: Return at end
Best for: Upgrade to the latest models regularly. Off balance sheet.

Representative example

Borrow £95,000 over 48 months at 5.9% APR (fixed). Monthly repayment: ~£1,977. Total amount payable: ~£94,896. Rates depend on your circumstances.

Popular models

Model	Price Range	Type
CAT 320 GC	£130,000 – £200,000	20-Tonne Tracked Excavator
Komatsu PC210	£120,000 – £180,000	21-Tonne Tracked Excavator
Volvo EC220E	£130,000 – £190,000	22-Tonne Tracked Excavator
JCB JS131	£70,000 – £100,000	13-Tonne Tracked Excavator

Tax benefits

Excavators qualify for Annual Investment Allowance (AIA), letting you deduct the full purchase cost from taxable profits in year one — up to £1,000,000. HP agreements allow you to claim capital allowances. Lease payments are typically fully deductible from profits.

Market context

Over 15,000 new excavators are sold in the UK each year. The UK excavator market is worth £2.1bn annually. Mini and midi excavators (under 10 tonnes) account for 60% of all UK excavator sales.

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. Our eligibility check uses a soft search only — no impact on your credit score.

Frequently asked questions

Can I finance a used excavator?