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That single fact drives everything: rates below unsecured business borrowing, terms matched to the asset's useful life, and approval that depends as much on the equipment as on the business.
The most common mistake in this vertical is buying equipment with working capital. A merchant cash advance repaid across eight months to buy a machine with a ten-year life is a structural mismatch, and it costs several times what asset-backed financing would.
If the money is buying something durable, finance it against that thing.
Equipment loan. You own it, build equity, claim capital cost allowance. Higher payment.
Capital lease. Lease with a nominal buyout at term end. Functions like a loan.
Operating lease. Lower payment, return or buy out at fair market value at term end. Suits equipment that dates quickly, particularly technology.
Sale and leaseback. Sell equipment you own to a lender and lease it back, releasing capital from an asset you already have. Useful and underused.
The equipment. New or used, expected life, resale market, whether it is fixed in place or movable. Movable equipment with a strong resale market finances best.
Useful life against term. No lender finances beyond the asset's working life, which is what caps the term.
The business. Time in operation, revenue, and existing commitments.
Whether it is a private sale. Private-sale equipment carries inspection and lien requirements similar to a private vehicle purchase, and not every lender accepts it.
Used carries shorter terms and higher rates, because the remaining life is shorter and the residual less certain. Against that, the purchase price is lower, and for equipment types with long working lives the used route is frequently the better total cost.
Auction purchases are a specific case: financing must usually be arranged in advance, since auction settlement windows are short.
Yes, with terms scaled to the equipment's remaining working life. Rates are higher than on new.
Leasing suits equipment that dates quickly. Buying suits equipment with a long working life. Tax treatment differs and is worth an accountant's view.
Some lenders do, generally with an inspection and a lien search before funding.
Selling equipment you already own to a lender and leasing it back, releasing capital from an owned asset.
