Save Big and Build Smart: Financing Solutions for Used Heavy Equipment
Buying used heavy equipment can be a smart, strategic move if you know what to look for and how to finance it right. In many cases, businesses can save up to 50% compared to the cost of new equipment, stretch their capital further, and still get reliable machines that deliver real results on the job site.
Below, we’ll cover five types of heavy equipment that are smart to acquire used, what to watch out for when evaluating them, and how Lion Tech Finance helps make used equipment financing fast and frictionless.
1. Excavators
Excavators are the backbone of many construction and utility projects. These powerful machines are essential for digging, trenching, lifting, and demolition tasks. Their versatility makes them a staple on job sites ranging from residential developments to large-scale infrastructure builds. With a wide range of sizes and attachments available, excavators can be customized to meet the specific needs of almost any project.
Why Finance Used:
- Most excavators are engineered for long service lives, often exceeding 10,000 operational hours with proper maintenance.
- Acquiring a used excavator at a lower cost allows you to free up budget for additional equipment, attachments, or labor.
- Financing used equipment helps preserve cash flow and working capital that can be redirected into other areas of your business.
- Many lightly used models come from rental fleets and have been maintained on strict schedules, offering strong reliability at a reduced price.
What to check:
Inspect the machine’s operating hours, review detailed maintenance logs, examine the undercarriage for wear and damage, and test the hydraulic system for leaks or irregularities. A well-maintained used excavator can deliver nearly the same performance as a new one for a fraction of the price.
2. Bulldozers
Bulldozers are powerful machines designed to move large quantities of earth, level terrain, and prepare job sites for further development. From road building and site clearing to mining and grading, bulldozers are essential across many industries due to their durability and pushing force. They can operate in rugged conditions and are often relied upon for their strength and simplicity.
Why finance used:
- Bulldozers are built with rugged components and heavy-duty frames that hold up well over time when properly maintained
- Buying used allows you to acquire high-performance machines at a significantly lower upfront cost, which is especially beneficial for short-term or seasonal projects
- Financing a used bulldozer keeps your capital intact while giving you access to essential equipment needed to stay competitive
- Many well-maintained models are available from retiring contractors or fleet upgrades, providing solid reliability at a reduced price
What to check:
Pay close attention to the undercarriage condition, as it is one of the most expensive components to replace. Inspect the blade for excessive wear, check the track tension, and evaluate engine performance under load. Also, look for signs of overheating, which could indicate internal issues or poor maintenance. A solid inspection and service history can turn a used bulldozer into a long-term asset.
3. Wheel Loaders
Wheel loaders are some of the most versatile machines on a job site. They’re designed to move large volumes of material quickly, whether it’s loading trucks with dirt, stockpiling gravel, or clearing debris after a demolition. Their mobility and ease of use make them a favorite for construction, agriculture, and municipal operations.
Why finance used:
- Many wheel loaders in the used market come from rental fleets and have seen only light to moderate use, making them a great value compared to buying new
- Purchasing used allows companies to significantly cut costs, especially for jobs that are seasonal, short-term, or location-specific
- Financing instead of paying upfront gives you flexibility and preserves working capital for other needs
- Some sellers offer bundled deals that include useful attachments such as forks, buckets, or grapples, adding even more value to the purchase
What to check:
Inspect the bucket for structural integrity and signs of heavy wear or patching. Check all articulation points for excessive play, as that could affect performance and safety. Examine tire wear closely; uneven wear can indicate alignment or suspension issues. Also, assess the overall frame alignment to ensure the machine hasn’t suffered from past impacts or heavy misuse. A clean inspection and solid maintenance record can make a used wheel loader a dependable asset.
4. Backhoe Loaders
Backhoe loaders are highly versatile machines that combine the capabilities of a front loader and a rear backhoe. This dual function makes them an excellent choice for smaller to mid-sized projects that require both digging and material handling. They are commonly used in utility work, trenching, light demolition, and even small-scale construction jobs.
Why finance used:
- Backhoe loaders have a long operational life when properly maintained, often lasting thousands of hours across a wide range of tasks
- Investing in a used backhoe can eliminate the need to purchase both a loader and a separate excavator, making it a cost-effective solution for contractors
- Many dealers regularly offer lightly used trade-in units that have been serviced and inspected, providing strong value with lower upfront investment
- Financing allows businesses to add this flexible machine to their fleet without depleting capital reserves
What to check:
Evaluate the boom swing function for smooth movement and responsiveness. Look closely for hydraulic leaks, especially around the cylinders and hoses. Inspect the cab controls to ensure all switches, gauges, and levers are fully operational. Finally, examine the digging bucket for signs of wear or damage, particularly along the edges and teeth. A well-maintained backhoe can offer years of reliable service and increase your team’s productivity on varied job sites.
5. Skid Steer Loaders
Skid steer loaders are compact, powerful machines known for their agility and ability to operate in tight spaces. Their quick turning radius and compatibility with dozens of attachments make them a favorite on landscaping projects, job site cleanup, and light construction tasks. They are also easy to transport, simple to operate, and cost-effective to maintain.
Why finance used:
- The lower price point of used skid steers makes them a great option for first-time equipment buyers or small contractors looking to grow their fleet
- Financing used models allow businesses to acquire needed equipment quickly without tying up cash reserves, with many deals closing in just days
- Skid steers are widely available from rental fleets, dealerships, and private sellers, creating more opportunities to find a well-maintained unit that fits your needs
- Their ability to handle multiple job types with different attachments increases return on investment
What to check:
Inspect the loader arms for any signs of cracks, excessive wear, or previous repairs. Check the tires or rubber tracks for uneven wear, damage, or dry rot. Review the total hours logged on the machine to gauge remaining lifespan and consider the work it was used for. Lastly, test the auxiliary hydraulics to ensure compatibility with attachments and proper pressure output. A solid used skid steer can be a workhorse for years with minimal maintenance if chosen wisely.
What Equipment Should You Avoid Buying Used?
While financing used equipment is a smart strategy in many cases, not every machine is a good candidate for the secondary market.
Cranes
Cranes carry a high liability and significant safety risk. It is often difficult to verify their past use, load history, or maintenance records. Even small failures can have catastrophic consequences, making cranes better suited for new purchases or well-documented leases.
Asphalt Pavers
Although asphalt pavers are built for durability, the savings from buying used are often offset by future repair costs and operational inefficiencies. Many newer models also come equipped with advanced automation and precision features that significantly improve productivity and reduce operator fatigue.
Why Finance Used Instead of Buying Outright?
- Preserve Capital – Keep cash available for other business-critical expenses like payroll, marketing, or expansion
- Expand Faster – Acquire multiple pieces of equipment at once without large upfront costs
- Tax Advantages – Section 179 deductions may apply to used equipment, offering immediate tax relief
- Build Business Credit – Financing creates a positive track record that can improve access to future lending and credit lines
Lion Tech Finance: Used Equipment Experts
At Lion Tech Finance, we specialize in helping construction, agriculture, and logistics companies secure the used equipment they need with speed and confidence. Our team understands how to evaluate true equipment value, tailor financing to your cash flow, and structure deals that support your growth, not just your purchase.
