Plant refinance
Plant refinance turns diggers, dumpers and rollers you already own into working capital, without the machines ever leaving the site they are earning on.
Whole-of-market — 60+ lenders searched, including
Can you finance a plant re?
Plant refinance releases cash from construction machinery a business already owns outright. A funder agrees a value for the excavator, loader or dumper, buys it, pays the money across, and the business hires the same machine back and carries on using it. Nothing is collected and no job stops. The machine has to be clear of any existing agreement, and the figure is set by what it would fetch on the used market today rather than by what the invoice said when it was new.
Used kit: Yes — age matters less than condition here, and a well-maintained fifteen-year-old tracked excavator still raises money because the second-hand market for it is deep and international.
Get a quoteor call 0333 772 4864
What would a plant re cost per month?
Asset finance is quoted on a flat rate, so that is what the buttons show, with the equivalent APR beside it. Your exact rate depends on the asset, the term, the deposit and the lender.
Prime is an established, profitable business with clean credit. Specialist covers newer businesses and credit that needs explaining — the asset itself carries part of the risk, which is why finance is often available where an unsecured loan is not.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 5.15% flat rate (equivalent to 9.9% APR representative), you would repay around £628 a month; total amount repayable approximately £30,150, of which £5,150 is the cost of finance. This calculator is for illustration only — it is not a quote or an offer of finance, and the rate and repayments you are offered will depend on the asset, term, deposit and your circumstances. CW Asset Finance is a credit broker, not a lender, and will receive a commission from the lender that funds your agreement. All finance is subject to status, affordability and lender approval.
Rates shown are indicative flat rates with the equivalent APR alongside — the two are not the same number. Indicative only and does not constitute a quote or an offer of finance. Subject to status and lender approval.
How lenders treat it
A refinance funder is underwriting two things at once. First, title: it wants the original invoice, the serial or PIN plate, and confirmation nothing is outstanding, and on larger machines an inspector will usually come and see it. Second, purpose. A funder will ask directly what the cash is for, because releasing equity to mobilise a won contract reads completely differently from releasing equity to cover arrears, and the second one gets declined. Expect the advance to be pitched against trade value, which on plant that has worked hard can be a long way below what owners remember paying. Disposal has accounting and tax consequences, including balancing charges, so involve your accountant before you commit.
Makes and models we fund
Examples of the machines we are asked to fund. This is not an exhaustive list — if what you are buying is not here, it does not mean we cannot fund it. Your supplier quote is what the agreement is written against.
| Machine | What it is |
|---|---|
| JCB 3CX Sitemaster | Backhoe loader owned outright |
| JCB JS131 excavator | Tracked excavator owned outright |
| CAT 320 GC excavator | Twenty tonne tracked excavator |
| Komatsu PC138US-11 | Reduced tail swing excavator |
| Takeuchi TB290 | Nine tonne midi excavator |
| Kubota U48-4 | Compact tracked excavator |
| Thwaites 9 tonne swivel dumper | Site dumper owned outright |
| Bomag BW120 AD-5 roller | Tandem vibratory roller |
| Hitachi ZX135US excavator | Short tail tracked excavator |
| JCB 540-140 Loadall | Site telehandler owned outright |
Get a quoteor call 0333 772 4864
Who buys one
Typically a groundworks or civils contractor two or three years past the end of the original agreements, sitting on a yard of paid-off kit and facing a mobilisation bill on a new contract. Wages, materials and site set-up all land before the first valuation is certified, so the money is needed now and the machines are the only unencumbered value on the balance sheet.
Get a quoteor call 0333 772 4864
How it is treated for tax
Bought on hire purchase, business plant and machinery normally qualifies for capital allowances on the full cost even though you pay for it monthly, which is a large part of why hire purchase is the common structure. On a finance lease you generally set the rentals against profit instead. The rules change between budgets and your position depends on how you trade, so treat this as the direction of travel and get your accountant to confirm the detail before you commit.
Plant refinance questions
Can I refinance a machine that still has a settlement figure on it?
Not as a straight refinance. Some funders will look at a refinance that settles the existing agreement and advances a little on top, but that depends on how much equity has actually built up. If the outstanding balance is close to trade value there is nothing to release and it is better to wait.
Will the digger be taken away while this is arranged?
No. The whole point of refinance is that the machine keeps working. Ownership moves to the funder on paper and you hire it back, so it stays on your site, on your insurance schedule and in your programme throughout.
How is the value decided?
On what a trade buyer would pay for it today, judged from hours, condition, attachments, service history and how strong the used market is for that model. It is not based on the purchase price, and owners are often surprised how far a machine has fallen from what they paid.
Do I have to say what the money is for?
Yes, and the answer genuinely affects the outcome. Funding a mobilisation, a plant purchase or a step up in turnover is a straightforward story. Filling a recurring monthly shortfall is not, and a funder that senses the latter will decline rather than lend into a structural problem.
What paperwork will I need to find?
The original purchase invoice in the company name, proof it has been paid, the serial or PIN number, and recent service records. If the machine came in as part of a business purchase you may also need the sale agreement showing it transferred to you.
Get a quoteor call 0333 772 4864
Also in asset refinance and sale and leaseback
- Production equipment refinance
- Commercial vehicle refinance
- Agricultural machinery refinance
- Handling equipment refinance
- Mixed asset portfolio refinance
- Sale and leaseback
- Capital release
- HGV fleet refinance
- Machine tool refinance
- Hire fleet refinance
- Equity release on plant
- Refinance to fund growth
- Refinance for a VAT bill
See everything we fund in asset refinance and sale and leaseback →
Not an offer of finance. All finance is subject to status, affordability and lender approval.
Get your quote
Tell us what you’re looking to fund and Conor will come back to you personally — usually the same day.
Prefer to talk? Call 0333 772 4864 · serving Leeds, York, Harrogate, Wakefield, Selby, Tadcaster & across North & West Yorkshire.