Equipment Loan

The mechanics are simple. We advance the purchase price to the seller or dealer, you sign a promissory note secured by the machine, and you make fixed monthly payments over the agreed term. Terms for telehandlers typically run 36 to 72 months depending on the machine's age and your credit profile. Rates vary by credit tier and term, but the payment is fixed so you can build it into a job bid without guessing.

Documentation for deals under $400,000 is lean. Most operators qualify with three months of business bank statements, a one-page application, and basic equipment information (year, make, model, serial number, hours). We do not require audited financials or personal tax returns on most app-only deals. Funding generally lands in one to two weeks from submission, which is fast enough to close a dealer purchase or match a seller's timeline on a private-party machine.

The lender takes a first-lien position on the telehandler until the note is retired. That is straightforward security that does not restrict how you use the machine. Run it on your own jobs, rent it out between projects, or add attachments. The usage is yours to manage.

A compact 6,000-pound unit might clear at $55,000 to $75,000 used. A mid-range 10,000-pound reach machine in good hours lands $90,000 to $130,000 depending on brand and configuration. Heavy-capacity units from JLG or Manitou with 15,000-pound ratings push well past $150,000 new. The loan structures across this range differently: smaller tickets often close app-only in under a week; larger tickets may need a spot of additional documentation but still fund faster than a conventional bank.

Used machines require an appraisal or at minimum a condition check for units older than seven to ten years. Hours on the clock matter. A low-hour three-year-old SkyTrak in verified condition funds about the same as new; a high-hour unit of the same vintage may carry a shorter maximum term or require a larger down payment. We look at the whole picture, not just the age on the title.

Residential home builders buying their first or second machine almost always choose a loan. The machine becomes an asset on the books, the interest is deductible, and Section 179 or bonus depreciation can shelter a significant portion of the purchase price in year one. That combination makes the after-tax cost of ownership sharper than it looks on the sticker.

Rental companies financing a telehandler fleet often split their paper between loans and leases depending on how long each unit is expected to stay in the yard. Units projected to hold rental value for five or more years typically get loans. The equity builds as the note pays down, and they can refinance if the machine throws off free cash and they want capital back for the next purchase.

Masonry and bricklaying contractors who spec a machine with a specific attachment package (block forks, mortar buckets, truss boom) also lean toward loans, because the attachment investment makes more sense when you own the host machine outright rather than returning it at lease-end with modifications that don't add to residual value.

A loan wins over a lease whenever you expect to keep the machine past its tax-useful life, when the residual on an FMV lease is uncertain, or when you want to modify the machine with a specific carriage or attachment package. It also wins when you plan to use Section 179 expensing to write down the purchase in year one. Lease structures (operating leases, FMV leases) can limit or eliminate the Section 179 benefit because you are not purchasing the asset for tax purposes.

The dollar buyout lease is the closest cousin to a straight loan. The payment is structured like a lease, but a $1 buyout at the end transfers title. The practical effect is nearly identical to a loan, though the documentation and accounting treatment differ. We offer both and can explain the difference for your specific tax situation in concrete terms before you sign.