How do you finance a digger derrick?
Digger derrick financing works much like financing any other work truck: we pay the seller, and your business makes a fixed monthly payment. A new digger derrick truck cost about $274,000 to $476,000 in the public records we found, and used digger derricks for sale ask $14,500 to $164,500, so here’s what that comes to each month and what to check first.
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How does digger derrick financing work?
The truck is the main collateral, so a blanket lien on your whole business usually isn’t required. On an equipment finance agreement, you own it from day one and the lien sits on the title until it’s paid off. Those run 24 to 84 months. An equipment lease runs 24 to 60, with a $1, 10% or fair market value buyout.
A digger derrick is a vocational truck, so it’s financed like standard equipment under our commercial truck financing, from our usual $15,000 minimum to $5 million and up. Many programs start at a 600 FICO for established businesses. The drills and trenchers on the same crew are on our underground utility equipment financing page.
Buying it for work you’ve already won? Say so. An awarded bid or a master service agreement makes one of the strongest files we see.
How much does a new digger derrick cost?
Recent public records put a new digger derrick truck at about $274,000 to $476,000. New trucks are mostly sold by quote, so city utility purchases are the clearest prices we could find:
| Buyer | What the record shows | Date | Price |
|---|---|---|---|
| Waterloo, IL | New truck from Terex USA, approved | June 15, 2026 | $476,299 |
| Versailles, OH | 2026 Freightliner chassis ($99,359) plus Terex derrick unit ($291,048), approved separately | March 12, 2025, and January 14, 2026 | $390,407 together |
| Lebanon, MO | Altec DM47E, 47 feet, all-wheel drive (council bill) | August 2024 | $359,294, with a $550,000 ceiling |
| Evansville, WI | Digger derrick truck, approved | May 12, 2026 | $306,550 |
| Wayne, NE | Quote for a truck that had to be ordered | January 2025 | $274,082 |
Public purchase records and quotes we found, checked November 5, 2026, not appraisals or offers. Specs differ, and a contractor’s quote and taxes can differ from a city’s.
Options move these numbers a lot. Altec’s July 2024 quote to Lebanon started at $290,270 for a 47-foot derrick. All-wheel drive added $30,591, a 20,000-pound front winch added $14,077 and a custom body added $12,394, before a model-year adjustment brought the total back down.
Then there’s the wait. Lebanon’s truck carried a 14 to 16 month lead time, so the city set that ceiling in case the price moved. Wayne went the other way and approved a 2022 Altec demo truck at $188,850, which its superintendent said would save about a year. If you’re ordering new, give us the delivery date when you apply. Approvals stay open for a set time, so we’ll want to plan around your build.
Working behind houses? Gering, Nebraska, approved $194,473.95 for an Altec backyard digger derrick about 34 inches wide with its legs folded. It walks through a gate, drills the hole and sets the pole.
What do the chassis and the derrick each add?
On the one split we found, the chassis was about a quarter of the money and the derrick about three-quarters. Versailles ordered its $99,359 chassis first, then approved the $291,048 derrick unit ten months later. That’s one truck, so use it as a rough guide.
The chassis still decides who can drive it. In the next table, the dealer lists the 2024 truck at 26,000 pounds GVWR and its Versalift truck at 33,000. Federal rules put a single vehicle of 26,001 pounds or more in Class B, so the Versalift truck takes a CDL and the 2024 truck doesn’t on weight alone.
On our side, a truck bought complete on one invoice goes on one agreement with one payment, the same way a truck-mounted hydrovac does. Options on the invoice are part of the amount you finance. Soft costs like delivery or an extended warranty can go on too, usually around 20% of the equipment amount, depending on credit and collateral. If the two pieces will bill separately, as they did in Versailles, ask us first.
What does a used digger derrick cost?
Used digger derricks for sale in the ads we checked ask $14,500 to $164,500, and the top one has under 600 miles:
| Truck and derrick | Miles and hours, per the seller | Seller | Asking price |
|---|---|---|---|
| 2024 Freightliner M2 106, Altec DC47-TR, 47 feet | 594 miles | Sunrise Equipment, Canton, OH | $164,500 |
| 2018 International 4300, Altec DM47B-TR, 47 feet | 77,436 miles; 7,862 engine hours, 2,328 PTO hours | ABC Truck & Equipment, Craigville, IN | $70,000 |
| 2015 Ford F750, Versalift TMP2050T, 50 feet | 70,765 miles; 4,610 truck hours, 1,176 boom hours | Sunrise Equipment | $69,500 |
| 2013 Freightliner M2, Altec DM47B-TR, 47 feet | 85,339 miles; 8,040 truck hours, 1,991 equipment hours | Sunrise Equipment | $49,500 |
| 2015 Ford F750, Altec DM47B-TR, missing its winch rope | 67,521 miles; 7,895 hours | Pettit Trucks and Equipment, Edgerton, WI | $19,900 |
| 2001 Chevrolet C8500, Altec D947B, 47 feet | 61,392 miles; 6,025 hours | Sunrise Equipment | $14,500 |
Listed asking prices we found, checked November 5, 2026, not appraisals or offers. Miles, hours and condition are the sellers’ own words, not verified by us, and any of these trucks may have sold.
Read the ads closely. The 2018 International says it’s been serviced, DOT’d and dielectric tested. The $14,500 Chevrolet sits just under our usual $15,000 minimum, which counts on the whole bundle, so a trailer on the same deal could get you there.
What’s the monthly payment on a digger derrick?
For an established business with nothing down, each $100,000 financed comes to about $2,076 a month over 60 months. Here’s how the prices above work out:
| Truck | Amount | 36 months | 60 months |
|---|---|---|---|
| Used 2015 Ford F750 | $19,900 | About $633 | About $413 |
| Used 2018 International 4300 | $70,000 | About $2,226 | About $1,453 |
| 2024 Freightliner M2 106, 594 miles | $164,500 | About $5,231 | About $3,415 |
| New chassis and derrick, as in Versailles | $390,407 | About $12,415 | About $8,104 |
| New truck, as in Waterloo | $476,299 | About $15,146 | About $9,887 |
Estimates for an established business only, nothing down, on an equipment finance agreement. Your payment depends on credit, the equipment and the term. Not an offer.
A new truck can stretch further: $390,407 comes to about $6,281 a month over 84 months. Older equipment typically gets a shorter term, so I wouldn’t plan on 84 months for the older trucks above.
Slow when the ground freezes? Many programs offer seasonal or deferred schedules, which would change these numbers. The Quote Builder shows your own payment with no credit pull. A new or used digger derrick can also qualify for Section 179, and your CPA can confirm how that applies to you.
What should you check on a used digger derrick?
Start with the dielectric report. If the seller can’t produce one, I’d price a test into my offer before talking about anything else.
- Dielectric test. Ask for the latest dated report. Trade guidance says the maintenance test is required annually for most machines, and a unit with no periodic test in 12 months can no longer be considered insulated. A replaced fiberglass boom needs a new qualification test.
- The ID plate. Read the voltage rating and look for a platform capacity. A digger derrick can’t take a platform unless the plate shows one, which matters if you want a pin-on bucket.
- Boom and auger. Run the boom through its full travel. Check the fiberglass section for damage, then the auger, kelly bar, pole guides, outriggers, winch and rope.
- Annual inspection records. Ask for the yearly reports and repair orders. One industry guide to ANSI A10.31, the digger derrick standard, says inspection and test records are kept for five years, so a well-kept truck should have a stack.
- Hours. Get engine hours and PTO or boom hours, since they can be far apart. That 2018 International shows 7,862 and 2,328. Five West doesn’t set a maximum hour reading. Hours, condition and records decide the term.
Does OSHA’s crane rule cover digger derricks?
Not for utility pole work, as our boom truck financing guide points out. OSHA’s construction crane rule excludes a digger derrick when it’s augering holes for poles carrying electric or telecom lines, placing or removing those poles, or handling materials for them. Other work under OSHA’s power line rule, Subpart V, is excluded too.
That exclusion has conditions. Subpart V work has to follow Subpart V, and telecom construction work has to follow 29 CFR 1910.268. Miss them, OSHA said in its 2013 rule, and the employer has to meet all of the crane rule, including operator certification and an inspection by a qualified person at least every 12 months.
Pole and fence crews, read this part twice. The wording names poles carrying electric or telecommunication lines, and it doesn’t mention fence posts or sign poles. Ask your attorney or safety adviser how the rule treats your work.
Can you buy from another contractor or at auction?
Yes. We finance used trucks from dealers, auctions and private sellers, and a sale between contractors moves at about the same pace as a dealer deal. Up to $500,000, a qualifying file can be decided with no tax returns or financial statements. Past that, plan on a full financial package.
Clean application-only files can be approved in as little as 30 minutes, with funding in as little as 24 to 48 hours once you sign. The lien search and any inspection are part of the file. We pay the seller directly, and if the truck still has a balance, we pay that lender off at closing so the lien is released. With good credit, you usually don’t need a down payment, even on a private-party sale.
Our guide to checking used equipment for liens and theft covers the search, and an attorney can look over the bill of sale.
What about city utilities, co-ops and newer crews?
City electric departments can use our municipal equipment financing, a tax-exempt lease-purchase that ends with a $1 buyout and needs no bond issue. Utility co-ops can send the same quote and application, and we’ll tell you which program fits.
Under a year in business? You’d be underwritten as a startup, which typically means 700+ personal credit, real experience in the work, working capital left after the purchase and usually some money down. See our startup financing guide.
Frequently asked questions
How much does a digger derrick cost?
New digger derrick trucks ran about $274,000 to $476,000 in the recent public records we found. Used ones in the ads we checked on November 5, 2026 asked $14,500 to $164,500. These are public records and listed asking prices, not appraisals or offers.
Can you finance a used digger derrick?
Yes, from a dealer, an auction or another contractor. There is no age limit, though older equipment can be tougher to get done, and older equipment typically gets a shorter term. Five West doesn’t set a maximum hour reading.
What’s the monthly payment on a digger derrick?
For an established business with nothing down, each $100,000 financed comes to an estimated $2,076 a month over 60 months.
Do you need a down payment on a digger derrick?
With good credit, you usually don’t need a down payment, even on a used truck or a private-party sale. Startups usually put some money down.
Does OSHA’s crane rule apply to a digger derrick?
Not when it’s augering holes for poles carrying electric or telecom lines, placing or removing those poles, handling materials for them or doing other Subpart V work, as long as the work follows the rules that apply to it. Ask your attorney or safety adviser about your own work.
How often does a digger derrick need a dielectric test?
Trade guidance says the maintenance test is required annually for most machines, and also after certain repairs or contact with energized lines. A unit with no periodic test in 12 months can no longer be considered insulated.
Found a digger derrick worth buying?
Send the dealer’s quote or the listing with one short application. A soft credit inquiry starts it, and a dedicated funding professional takes it from there to funding.
This article is general information about financing digger derricks, not tax, legal, safety or accounting advice or a commitment to finance. Prices shown are public purchase records and listed asking prices from public pages on the date checked, not appraisals or offers. Safety rules and standards can change, so confirm them before you buy or put a truck to work. Example payments are estimates for an established business with no money down; actual terms and payments depend on credit approval, the equipment and the structure. All financing is subject to credit approval and underwriting.