Can I get approved before I bid at auction?

Yes, and you should. We arrange a pre-approval with a dollar ceiling so you can bid knowing the money is behind you. Auction settlement windows are typically 24-72 hours, which is not enough time to originate a deal from scratch.

How do private-party purchases work?

We handle funds directly to the seller against a bill of sale, after a lien search and usually a third-party inspection. You should never wire a private seller personally before the lien search comes back clean.

It depends on the asset class more than the calendar. Machine tools stay financeable for twenty years; over-the-road tractors get difficult past ten. Most partners set a soft ceiling around 10-15 model years, with documented maintenance extending it.

Why is my rate higher on used than on new?

Collateral value declines less predictably on used equipment and remaining useful life is shorter, so the lender's recovery position is weaker. The total cost is often still lower because the purchase price is dramatically lower — compare total outlay, not rate.

Pre-owned & auction

Used Equipment Financing

Buying used is usually the right financial decision and always the harder financing conversation. The machine has no invoice from a manufacturer, the seller may be an individual in another state, and the settlement window at an auction is 48 hours. What makes used deals work is sequencing: get the approval before you bid, not after you win.

Quick answer

Used equipment financing including dealer, auction, and private-party purchases. Pre-approval before you bid, inspection handling, and lien clearance.

Price used equipment financing

Two quick steps. An advisor responds within 24-48 hours.

The numbers on this asset

Typical age ceiling

10-15 model years, further with documented service history

Financed range

$25K – $4M

Term

24 – 72 months, scaled to remaining useful life

Down payment

10% – 25% typical, lower with strong credit and a major brand

Who finances used equipment

Contractors and operators buying at Ritchie Bros., IronPlanet, and regional equipment auctions
Businesses buying from a private seller who is retiring or exiting a line of work
Operators taking advantage of an off-lease or fleet-liquidation package from a dealer
Buyers who want the depreciation curve already absorbed by the first owner

Recent structure

Pre-approved before the hammer fell

A grading contractor in Nevada wanted three machines out of a fleet liquidation auction with a 48-hour settlement requirement. We arranged a $450,000 pre-approval with a per-unit ceiling two days before the sale. The contractor won two of the three lots at $318,000 combined, we ran lien searches the same afternoon, and funds went to the auction house inside the settlement window. A post-auction application would not have cleared in time.

What underwriting actually looks at

Approvals on this asset class turn on a short list of specifics. Have these ready and most files get an answer inside 24-48 hours.

Pre-approval before the auction, with a stated ceiling so you can bid with certainty

Third-party inspection or a certified condition report for private-party purchases

UCC and title lien search — an undisclosed existing lien is the most common reason a used deal collapses

Remaining useful life relative to the requested term; lenders will not amortize past the machine's working life