Used Boom Lift Financing

A used JLG 600S with 1,500 hours runs $65,000 to $90,000 depending on year and condition. New, the same machine is $140,000 and up. That spread is the whole argument for the used market: the work it does at 60 feet of platform height is identical whether the machine has 800 hours on it or 1,600. We fund used boom lifts from $50,000 on up, and the used market is where most of our deals live. Dealers, auctions, private parties, and rental-yard disposals all qualify.

Used financing is not harder to get than new financing. For clean, low-hour machines from established manufacturers, the lender pool is nearly identical to what is available for new equipment. The underwriting differences show up on high-hour machines, machines over 10 to 12 years old, or units with gaps in their maintenance history. We know which lenders are comfortable with which conditions and we match the deal accordingly.

What Makes a Used Boom Qualify

Lenders evaluate four things on a used machine: age, hours, condition, and manufacturer. Age and hours set the baseline. Most lenders are comfortable through 10 to 12 years and up to 4,000 to 5,000 hours on a well-documented machine. Outside those bounds, the lender pool narrows and may require a higher down payment or an inspection before approval.

Condition matters because lenders are underwriting the collateral they will hold a lien on. A machine that has been stored outdoors without cover for two years, has rust on the structural boom sections, or shows evidence of damage to the turntable or drive components raises questions about residual value that the lender needs answered before they fund. A machine with current inspection records, service history, and a recent ANSI/SIA inspection certificate is a much cleaner deal.

Manufacturer reputation shapes lender comfort. JLG and Genie machines have the deepest lender acceptance because their used markets are liquid and their parts networks support long service life. Haulotte, Snorkel, Skyjack, and MEC machines are generally fine as well. Very old units from defunct manufacturers or heavily modified machines require individual conversation.

The most fundable used booms: used telescopic boom lifts in the 60-to-85-foot range with under 3,000 hours, and used articulating booms in the 45-to-60-foot class. Both categories have high secondary demand and established book values that lenders trust.

Buying Used From Different Sources

Dealer purchases are the most straightforward. The seller provides a title, bill of sale, and typically some service history. Lender-required inspections are less common because dealer reconditioning provides a baseline of confidence.

Auction purchases, including IronPlanet, Ritchie Bros., and similar platforms, can be financed but require attention to timing. Auction houses have short payment windows, often 24 to 72 hours after the hammer falls. Getting pre-approved before you bid, or at minimum having a term sheet in hand, is the right sequence. We can pre-approve for a dollar amount and a machine specification so you can bid with confidence.

Private-party purchases work fine and we do them regularly. The seller needs to be able to provide clear title or a bill of sale sufficient to transfer title. Some private sellers are individuals, some are small rental operators disposing of older fleet. Both are fine as long as the title chain is clean.

Rental company disposals are worth particular attention. Equipment rental companies disposing of retired units typically have full service records and sell machines that have been inspected before sale. Hours are often higher, but condition is documented, which makes underwriting easier. Refurbished units from rental recon programs can be particularly clean.

Choosing Between New and Used on a Finance Deal

The primary financial argument for new is warranty coverage and lower expected maintenance cost in years one through three. On a long lease or loan term, breakdowns on a used machine can offset the lower purchase price, especially if the unit is in service daily. If you are running the machine on a high-utilization schedule, the warranty math on new sometimes pencils.

The primary argument for used is the lower total cost of ownership on the same work output. A contractor buying a used 60-foot boom for $70,000 versus a new one for $125,000 is saving $55,000 in financed cost. If the machine holds together through the loan term, that savings goes directly to margin. Most contractors who have bought multiple units know which machines in which condition ranges represent good value, and they buy used deliberately.

If your situation calls for financing a new machine, we handle that too. See the boom lift equipment loan page. For used machines financed at the short-doc threshold, our short-doc financing page covers what documentation that path requires.

Found the Machine? We Fund the Deal

Send us the year, make, model, hours, and seller. We tell you the lender fit, the expected terms, and what documentation you need. $50,000 minimum, B and C credit welcome, most deals closed in roughly two weeks.