Excavator Finance

Finance your excavator

An excavator is a primary piece of construction equipment. Whether it’s a crawler, backhoe or suction excavators, adding to your fleet or replacing older models, we can offer flexible finance solutions.

We can arrange funding for the purchase of a new or used excavator, restructure existing finance agreements and provide you with flexible seasonal payments options.

What is excavator finance?

Excavator finance allows you to invest in new or used excavator machinery and grow your business that works for your business and its finances.

Purchasing such an expensive asset upfront can present issues down the line if capital is needed for other projects or perhaps to rescue the business from a decline in an uncertain economy. Using excavator finance protects your business and reduces the risks of investing.

Our construction division will be able to assist on any finance needs you may have to help fund business assets.

What types of excavator finance are available?

Hire purchase: Hire purchase allows your business to own the excavator once the agreement is fulfilled. The contract starts with a deposit, and the remaining cost of the asset in spread over a set period, with that amount being paid back monthly with interest included. The amount is flexible in that you can make a larger deposit to reduce your monthly outgoings.

Finance lease: An excavator may not be suitable to purchase outright, meaning a finance lease may be appropriate if your business does not need to own the asset. With finance leasing, you rent the asset over a set period with you remaining responsible for maintenance. This solution acts similar to hire purchase except the difference in ownership status.

How does excavator finance work?

With excavator finance, you put down an initial amount as a deposit, and then pay it off over a series of months at a fixed amount plus interest. Whilst the asset is not yours to begin with, you still have access to use the asset for business purposes. Through financing an excavator, you can specify how long you want to agreement to be, and the method of finance that is right for your business.

Is excavator finance a good solution for your business?

Excavator finance is a good option for purchasing heavy machinery of this type as it preserves your business capital and offers a streamlined and predictable repayment schedule.

The built-in flexibility is hugely beneficial to businesses operating in construction, ensuring that funding meets the specific needs of your organisation. It can be suited to your business requirements and accessed quickly when compared with standard bank lending.

Applying for excavator finance

MAF Finance Group work with a range of banks and financial institutions to offer the most flexible financial solutions for you.

If you are interested in getting a quote or need further information, simply fill in the form and we will be in touch. If you want to speak to someone directly, call us on 0115 958 6872 and a member of our team will be happy to speak to you. Alternatively, email us at [email protected].