Best Way to Finance Used Heavy Equipment Right Now?

[Polo Ardobie]

With equipment prices and interest rates still all over the place, what’s the best way to finance used heavy equipment right now? Are most guys going through dealer financing, local banks, SBA loans, or lease-to-own programs? Curious what’s actually working best in 2026 without getting crushed by monthly payments.

 

[Lily Anderson]

Honestly, for used heavy equipment financing, I'd definitely recommend looking into Ritchie Bros. Financial Services (RBFS) too. What I’ve noticed is that RBFS can be especially helpful when buying through auctions because timing matters. Having financing lined up quickly can make a huge difference when a good machine comes up.

 

[Elixer G]

Dealer financing is popular because it's fast and easier to approve

 

[Jack Mccowel]

One tip that's helped me is to shop financing the same way you shop equipment... get quotes from a dealer, local bank, and equipment lender before deciding. Sometimes a slightly higher down payment can save a lot more in interest and monthly payments over the life of the loan.

 

[Kizzy Klozenberg]

More people looking into financing programs tied directly to auction purchases since the process can be smoother and faster for used equipment.

 

[Mc Wyndell]

A lot of guys are still going with dealer financing because it's fast and easier to get approved, but local banks usually give better rates if your business and credit are solid