Equipment financing is a way for businesses to acquire essential machinery without paying the full cost upfront. It involves a lender paying the seller, and you repaying the lender over a set term.
This guide provides direct answers on everything from choosing between a loan and a lease, understanding typical terms and rates, and how to get approved.
Both heavy and light equipment across construction, agriculture, landscaping, forestry, environmental, and aggregate—new or used.
Yes. Heavy typically means larger amounts/longer terms; light is smaller tickets with faster approvals.
Yes. Seasonal or project-based schedules are common for ag and construction; others may use standard monthly payments.
They are very similar. The process is similar, but there’s one key difference that can affect your monthly payments: leasing. The older the equipment, the less of a chance to get higher residual buyout options, which help reduce payments over the lease term.
Sometimes—availability depends on age, hours, and lender policy.
Loan = ownership/equity after payoff. Lease = lower payment, flexibility to upgrade or buy out at term-end.
Yes—seasonal, step, deferred, and balloon options can align payments with cash flow.
12–84 months, based on ticket size, credit profile, and asset life.
Often 0–20%; larger down payments can reduce rates and monthly costs.
Yes—most lenders let you roll attachments, freight, installation, and extended coverage into the same agreement.
A live snapshot of typical APR ranges and term bands by equipment type (new/used, heavy/light). Use it to benchmark offers before applying.
Submit equipment details, business info, and target terms. Our team returns a personalized offer (rate, term, down payment, structure) and next-step docs.
Estimates payment, total cost, and interest across term lengths. It’s for planning—final terms depend on underwriting.
Real deals we’ve funded. Use it to gauge approval ranges, asset types we finance, and typical structures.
Check Current Rates → model options in the Calculator → submit Request Quote → review Recently Financed Equipment for comps.
Yes—include them in Request Quote and we’ll bundle them into one financing package.
Regularly as market conditions change; we update our Current Rates page every month to reflect the most recent changes. Always confirm with a fresh Quote Request.
Yes—note your preference in your quote request and we’ll price seasonal, deferred, or balloon structures.
A funding option that lets businesses acquire equipment without paying the full cost upfront. The lender pays the seller, and you repay over time.
Not necessarily—terms may be higher, but alternative structures or cosigners can help.
Anywhere from 12 to 84 months, depending on equipment type, cost, and borrower profile.
May include origination, documentation, and potential early payoff penalties.
Leases offer lower monthly payments and flexibility; loans build equity and ownership.
Yes, via early buyout options in many leases.
Rates depend on credit history, time in business, equipment type, loan amount, and term length. Market conditions also play a role.
Terms generally range from 12–84 months, depending on cost, lifespan, and your cash flow needs.
Yes—many lenders offer flexible schedules to align with seasonal revenue patterns.
A U.S. tax deduction that lets you write off the full purchase price of qualifying equipment in the year it’s placed in service.
An additional deduction that allows a percentage of equipment cost to be written off immediately, often in the same year.
Often yes—many leases qualify for Section 179 or bonus depreciation. Confirm with a tax advisor.
Most lenders require:
Yes—Finance Scope offers a secure online application process that can be completed in minutes.
Key factors include credit history, time in business, annual revenue, and the type of equipment being financed.
Yes—startups may qualify, though they may face higher rates or require additional documentation.
Approvals can be as fast as an hour or up to 48 hours, depending on application completeness, and lender review.
Maintain strong credit, provide complete documentation, and choose equipment with strong resale value.
Often yes—many leases qualify for Section 179 or bonus depreciation. Confirm with a tax advisor.
Enter loan amount, rate, and term to instantly see estimated monthly payments and total interest costs.
A break-even calculator shows the point where your equipment’s earnings cover its total cost, helping you decide if financing makes sense.
IRR (Internal Rate of Return) measures the profitability of your investment, factoring in cash flows over time.
Use a lease vs buy calculator to weigh upfront costs, monthly payments, tax advantages, and end-of-term ownership value.
Consider purchase price, financing interest, maintenance, insurance, and potential resale value.
Negotiate purchase price, secure competitive financing rates, and maintain equipment for higher resale value.
The best way to understand your options is to see a real offer. Submit a no-obligation quote request, and our team will get back to you with a personalized financing package built for your business.