Construction equipment
Construction equipment finance for UK businesses
Reviewed by Luca Scalzo, Director, WFYA Limited · Last reviewed
Construction equipment finance lets a building, groundworks or civil engineering business spread the cost of machines such as diggers, excavators, dumpers and telehandlers over a fixed term. Instead of hiring a machine day by day or paying for it outright, the business pays monthly and, with hire purchase, owns the machine at the end.
We Finance Your Asset is a credit broker, not a lender. We introduce construction equipment applications from UK businesses to lenders on our panel that finance plant.
Who can apply for construction equipment finance?
- Groundworks, civil engineering and building contractors.
- Landscaping, drainage, demolition and utilities businesses.
- Plant hire companies adding machines to their hire fleet.
- Businesses that hire the same machine so often that owning it would make more sense.
How does construction equipment finance work?
- 01
Apply online
Tell us about your business and the machine in our application form.
- 02
We review and approach lenders
We check the details with you and introduce your application to lenders on our panel that finance construction equipment.
- 03
Decision and payment
If a lender approves, you sign the agreement with the lender and the lender pays the dealer or seller.
What can construction equipment finance cover?
- Micro, mini and midi diggers.
- Tracked and wheeled excavators.
- Dumpers and site dumpers.
- Telehandlers and rough terrain forklifts.
- Rollers, compaction equipment and attachments.
- Larger machines such as loaders and dozers: see heavy plant finance.
- New and used machines from dealers.
How do I finance an excavator for my groundworks business?
Start with a quote for the machine from the dealer, then decide whether you want to own it (hire purchase) or use it for a set period (lease). Prepare your latest accounts or bank statements and details of your current contracts. A broker like us can then approach lenders that know construction plant, which matters because lenders value used machines very differently.
What documents do you need to apply for construction equipment finance?
Our application form asks for the information lenders need first, so it helps to have it ready:
- Your company name and Companies House number.
- The director's contact details, date of birth and home address history.
- Details of the asset: what it is, its price, the supplier and, for vehicles, the registration and mileage if known.
- The deposit you plan to put in and the term you would like.
- Your last three months of business bank statements, which you can upload with the form.
Lenders may then ask for more, such as recent accounts, proof of identity or the supplier's invoice, depending on the amount and your business.
How long does construction equipment finance take?
It depends on the asset, the lender and how quickly the documents arrive. The lender then makes its own decision; straightforward applications with complete documents move fastest, while larger amounts, used or specialist assets and newer businesses can take longer.
What deposit and term should you expect for construction equipment finance?
Most agreements involve some upfront payment, and the amount depends on the lender, the asset and your business. Newer businesses, older or specialist assets and larger amounts may need a bigger deposit. Terms are usually set by the expected working life of the asset. We will tell you what the lenders on our panel ask for once we know your details. We do not quote interest rates on this website because the cost depends on your circumstances: see what affects the cost of asset finance.
Sources
Checked on 31 October 2026.
Frequently asked questions
Can I get finance on a used digger?
Yes. Used diggers and excavators are commonly financed. Lenders look at the machine's age, hours and condition, and each lender has its own limits.
Can a new construction company get equipment finance?
It is possible, but lenders are more cautious with a short trading history and may ask for a deposit or a director's guarantee. Read our guide for new limited companies.
Is it better to hire or finance a digger?
If you use a machine most working days, financing it is often cheaper over time than hiring, and you keep an asset with resale value. If you only need it for occasional jobs, hiring may make more sense. Compare the monthly cost with your typical hire spend.
Can I finance attachments with the machine?
Usually yes, when the attachments are bought with the machine and listed on the supplier's invoice.
Can I release cash from machines I already own?
Yes, through refinance or sale and leaseback. See asset refinance and sale and leaseback explained.
Talk to us about your asset
Tell us what you want to finance. Our team reviews every application and comes back to you.
Start your application