Questions about buying and financing used plant machinery

Yes. Several lenders on our panel fund start ups, including sole traders and limited companies with no filed accounts. They look harder at the person behind the business: your trade experience, any work already lined up and whether you own a home. A first machine sometimes needs a larger deposit than a second one. Tell us about the work and we will say where you stand before any credit check.

Often, yes. A missed payment or a CCJ does not rule you out, because we search a panel of more than 60 lenders and some specialise in businesses a bank would turn away. Be upfront about what happened and when, and expect a higher rate or a larger deposit than a clean file would get. Older problems that have since been settled matter far less than recent ones.

Yes. We fund machines from dealers, auctions and private sellers, not only the ones listed here. With a private sale the lender needs proof the seller owns the machine, a check that no finance is still owing on it, and a sensible price for its age and hours. With an auction, talk to us before you bid so the finance is agreed and you are not left needing to pay within days.

Older than most people expect. Lenders on our panel regularly fund excavators and dumpers 10 to 15 years old, and some go further when the machine has a known make, a sensible number of hours and a service history. What matters most is whether the machine will still be worth something when the agreement ends, so a well kept older JCB or Kubota is easier to fund than a newer machine from an unknown maker.

Usually, yes. When a VAT registered dealer sells a machine at £20,000 plus VAT, the lender pays the full price and you pay the £4,000 VAT at the start, which acts as your deposit. A VAT registered business then reclaims it on its next VAT return, typically within three months. That is how every monthly price on Plant Monthly is worked out.

Anything from 12 to 120 months is possible, but most used plant runs over three to five years. The term usually follows the machine: a lender will not want an agreement that outlasts the useful life of an older dumper, while a newer excavator can run longer. A shorter term costs more each month but less in total, and you own the machine sooner.

Start with the undercarriage, because tracks, rollers and sprockets are the most expensive parts to replace. Then rock the bucket to feel for wear in the pins and bushes, look for oil weeping from rams and hoses, and check the slew ring for play. Watch it run from cold, check the hour meter against the service records, and run a CESAR and finance check so you know it is not stolen or still owed on.

The big Japanese and British makes: Kubota, Takeuchi, Yanmar, JCB and Hitachi. They have dealers across the UK, parts are easy to get, and there is always a buyer for them later, which is also why lenders are happiest funding them. Cheap imported mini diggers cost far less at the start, but they are hard to resell and many lenders will not fund them at all.

There is no fixed limit. A well serviced telehandler from a mainstream maker often works well past 10,000 hours, and many ex hire machines are sold at 4,000 to 6,000. Hours matter less than how the machine was used: check the boom wear pads, chains and pivot pins, look for leaks on the boom rams, and ask for the latest LOLER thorough examination, which lifting equipment needs at least every 12 months.

If you need one for more than a few months a year, usually yes. Weekly hire on a telehandler adds up quickly, while a monthly finance payment on a used machine is often a similar figure and you own it at the end. Hiring still makes sense for a one off job or a specialist size you rarely need. Compare a year of hire with a year of payments before deciding.

Check the skip ram and pivots for play, the articulation joint for wear and the brakes on a slope. Make sure the roll bar, seat belt and beacon are fitted and working, since a dumper without them will fail a site inspection. Front tip, swivel and high tip dumpers each suit different jobs, so match the type to the work before comparing prices.

Yes. Buckets, breakers, wood chippers, generators, rollers and other working kit can all be funded, on their own or alongside the machine they go with. Smaller items are often added to the main agreement so you have one payment. The guide price for a standalone agreement is around £10,000, although we can look at less.

On hire purchase your business is treated as the owner for tax, so a limited company or sole trader can usually claim capital allowances on the machine from the day it starts work, and the interest is a business cost. Most plant qualifies for the Annual Investment Allowance. Your accountant will confirm what applies to you.

An indicative decision often comes back within 24 hours of us having your details and the machine. Payout to the seller usually follows within a few working days of you signing, sooner with a dealer and a little longer with a private sale or auction, where the lender makes more checks.

Every listing shows an illustrative monthly payment on business hire purchase over 48 months, with the VAT paid as the deposit. Your actual rate depends on your business, the machine and the lender.

Every listing is checked against the dealer's own website every night. Machines come off as soon as the dealer marks them sold or takes them down.

No. Plant Monthly is a trading style of CW Asset Finance, a credit broker. We search a panel of more than 60 UK lenders and are paid commission by the lender when an agreement completes.