Aerial Lift Equipment Loans

The unit earns money by the hour, not by the payment structure. But owning the iron outright changes how the numbers work on a five-year horizon. A straight equipment loan puts the title in your name from day one, builds equity as you pay down the balance, and lets you depreciate the asset on your own schedule. That is a different deal than a lease, and for yards buying to hold rather than to turn, it is usually the right one.

We fund aerial lift equipment loans from $50,000, with many approvals falling between $100,000 and $500,000 or higher on larger fleet purchases. New or used equipment both qualify. Most operators are approved off three months of bank statements with a decision in a day and funding inside two weeks. Leasing is the alternative if you want lower monthly exposure or plan to trade the unit in a few years, but if you are buying to keep, the loan structure is worth running through the numbers first.

How an Equipment Loan Works on a Lift

The lender pays the seller or dealer in full. You take title and make fixed monthly payments over a term, typically 36 to 72 months on aerial equipment. The unit serves as collateral. At payoff, you own the machine free and clear with no residual, no purchase option fee, and no end-of-term negotiation.

On a boom lift running $120,000 to $180,000 on the used market, a 60-month term at reasonable rates produces a payment that a working rental fleet covers in fewer than two weeks of utilization at typical market rates. The math gets better the more the machine turns. Equipment that sits idle most of the month is a harder case for any financing structure, but a unit that stays busy is almost always worth owning rather than renting long-term.

On private-party and auction purchases, we can fund directly to the seller or through a dealer. Private-party purchase financing follows the same loan structure, just with a different closing path.

New Unit vs. Used Iron: What Changes in the Loan

Loan terms on new equipment from a dealer often go longer (up to 72 months) and sometimes carry lower rates because the collateral value is well-defined and the warranty backstops mechanical risk. A new JLG or Genie fresh off the dealer lot has a straightforward title history, no hours to evaluate, and a published invoice price. That makes underwriting faster.

Used equipment loans work the same way structurally, but the lender looks harder at machine age, hours, and condition. A used boom lift with 2,500 hours and a clean inspection history is a strong loan candidate. One with 6,000 hours and a thin maintenance record requires more conversation. We fund both, but the term on older iron is sometimes shorter to stay inside the useful-life window.

Used scissor lifts in the 10-to-15-year-old range often still carry meaningful value because their structures hold up well compared to boom lift booms and cables. Age alone does not disqualify a machine; the underwrite is about remaining useful life, not calendar year.

Can I get a loan on a lift I'm buying from a private seller rather than a dealer?

Yes. Private-party purchases are fundable with an equipment loan. We need the seller's information, title documentation, and a current value appraisal or comparable market data on the unit. The closing process takes a few extra steps compared to a dealer deal, but the loan structure is the same.

Does the loan cover just the lift, or can I include rigging, delivery, and attachments?

The core loan is for the equipment itself. Soft costs like delivery and installation can sometimes be rolled in, but soft-cost financing depends on the lender and deal size. Attachments and accessories that are part of the same purchase can often be included in the same loan amount.

How long can I finance a used aerial lift?

Terms on used equipment typically run 36 to 60 months depending on the machine's age and hours. Older equipment with higher hours may be capped at shorter terms to keep the loan inside the unit's projected useful life. Newer used iron with low hours can often support a full 60-month term.

I have a tax lien on my business. Can I still get an equipment loan?

A tax lien complicates the file but does not automatically disqualify you. Lenders want to see that the lien is on a payment plan or being addressed. We have placed equipment loans for operators with existing tax liens; the deal structure sometimes requires a larger down payment or a co-borrower to get the credit past the lien.

Do I need to put money down on an aerial lift loan?

Not always. Strong business files with solid bank statements can qualify for 100 percent financing. If credit is in the B or C range, a down payment of 10 to 20 percent often makes the difference between an approval and a decline. We will tell you upfront what the down payment requirement looks like for your specific file.