Can you finance a used crane?

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How do you finance a used crane?

About the same way you’d finance a new one. We pay the seller, your business makes a fixed monthly payment, and the crane secures the deal. Our boom truck and crane financing guide covers the basics, so I’ll stick to what changes once a crane has some years on it.

Your used crane financing options come down to two structures. On an equipment finance agreement, you own the crane from day one, on terms of 24 to 84 months. An equipment lease runs 24 to 60 months and ends with a $1, 10% or fair market value buyout. I’d finance most used cranes to own, since a well-kept crane can work for decades.

The full program is on our construction equipment financing page. Qualifying deals up to $500,000 can be decided on the application alone, with no tax returns or financial statements. Past that, plan on a full financial package. Every crane in the table below sits under that line except the $575,000 Tadano.

Under a year in business? Startups typically need 700+ personal credit, crane experience, cash left after the purchase and usually some money down. Our startup financing guide has the details.

What do used cranes list for by type and tonnage?

The 12 cranes below ask $50,000 to $575,000, and tonnage explains less of that spread than you might expect.

Listed asking prices we found, checked November 5, 2026, not appraisals or offers. Ten of the 12 come from one New England dealer, so treat this as a sample. Larger late-model cranes can list for much more. None of these was marked sold when we checked. Hours are the sellers’ own figures. Five West has no affiliation with these sellers.

Look at the two Grove RT765E-2s. Same model, two model years and about 2,000 hours apart, and the newer one asks $80,000 more. Now try the all-terrains. The 275-ton 2008 Grove asks $80,000 less than the 65-ton Tadano, which is 11 years newer with far fewer hours.

Old cranes hang on to a price, too. A 1969 crawler still asks $69,500, even though its listing warns that the main hoist drum may have a bad bearing or bushing.

Plenty of late-model used cranes show “price on request,” so you’ll often need a dealer quote first.

What’s the monthly payment on a used crane?

For an established business with nothing down, each $100,000 you finance comes to about $3,180 a month over 36 months, $2,489 over 48 or $2,076 over 60. Here’s how that works out on five cranes from the table:

Estimated examples for an established business only, with no money down, on an equipment finance agreement. Actual payments depend on credit, the equipment and the term. “Depends on the crane” means we’d want to see the hours, condition and records before putting a number on that term. No model year sets it, though older equipment typically gets a shorter term, and the terms shown may not be available on every crane. Not an offer.

Soft costs such as delivery can usually go on the same agreement. The soft-cost total is usually around 20% of the equipment amount, depending on credit and collateral. The Quote Builder shows your own payment with no credit pull. A used crane can qualify for Section 179 as well, and your CPA can confirm how it applies to you.

How does buying from a dealer or at auction change the deal?

Not much on our side. A dealer quote, listing or auction lot number with the serial and hours is usually all a first response needs. What changes is your protection if something’s wrong with the crane.

From a dealer. Ask what the dealer stands behind. Does a warranty come with it? Will you get a current annual inspection at delivery, and who pays for what it finds? I’d want those answers on the quote.

At auction. Send the lot number before you bid, so you know the payment and how high you can go. An approval stays open for a set time, so make sure yours covers the sale date.

Expect fewer protections here. Federal surplus sales, for example, are offered “as is” and “where is” with no warranty unless the sale says otherwise, and the sale form urges bidders to inspect first. Each auction sets its own payment deadline, fees and removal date, so read the terms before you register, and ask an attorney about anything you’re unsure of. We pay the auction house or seller directly, and funding can follow in as little as 24 to 48 hours once documents are signed.

From another contractor. A private sale adds a lien search and a few other steps, and our guide to buying a crane from a private party walks through them.

However you buy, add the latest annual inspection if you have it. An older or high-hour crane may also need photos or an inspection, and larger machines can need an appraisal. A dedicated funding professional stays with the file from application to funding, and you can check your status online along the way.

What inspection records should you ask for on a used crane?

Start with the latest annual inspection. On construction work, OSHA requires a qualified person to inspect a crane at least every 12 months, with a signed, dated record of what was checked and what was found. Then ask about these:

• A current date. One rough-terrain in our table lists an annual inspection that expired February 5, 2025. The listing may just be old, so ask for the newest report.
• Older annuals. OSHA only requires annual records to be kept for 12 months and monthly ones for 3, so a long paper trail isn’t a given. Several years of reports say a lot about how a crane was kept.
• What got flagged and what got fixed. The annual separates safety hazards that take the crane out of service from items to keep watching. Ask for the repair invoices.
• Overloads. If a load may have gone past rated capacity, OSHA says stop using the crane until a qualified person checks it for structural damage. Ask straight out whether that’s happened.
• How long it’s been parked. A crane idle for 3 months or more has to be inspected by a qualified person before its first use. That can easily describe a crane on an auction lot.
• Every hour meter. The 2008 GMK4115 in our table shows separate upper and carrier readings, so ask for both.

Even with a fresh annual, I’d pay an independent crane inspector to look before you commit.

Why does the load chart matter on a used crane?

Because the chart tells you what the crane is allowed to lift, and it has to belong to that crane. OSHA wants the rated capacities and operator’s manual readily available in the cab. Manitowoc’s operator manual for its 14000 crawler is blunter: don’t run the crane without the correct chart in the cab, and if the serial numbers don’t match, get the right one from a dealer.

• Match the setup. A chart only helps if the boom, jib and counterweight it assumes are in the sale, so get a written list.
• Look for modifications. OSHA bars changes that affect capacity or safe operation unless the maker or, in limited cases, a registered professional engineer approves them, and the load charts have to be updated to match. Ask for that paperwork.
• Chart missing? Try the maker or a dealer first, with the serial number in hand. If the maker’s procedures aren’t available at all, OSHA calls for capacity procedures signed by a registered professional engineer familiar with the equipment. Price that in.

What makes an older crane tougher to finance?

There is no age limit, though older equipment can be tougher to get done. Mostly it comes down to how much of the crane’s history you can prove, since hours, condition and records decide the term.

• Thin records. With no annuals and no service history, underwriting has very little to go on.
• A value that’s hard to pin down. When few comparable cranes show a price, an appraisal may be what sets the crane’s value as collateral.
• Parts and support. Ask a dealer whether parts and service are still available for that model. A recognized brand with dealer support makes a stronger file.
• Safety devices. OSHA’s rule on load weighing and load moment devices covers most cranes built after March 29, 2003, so an older crane may not have one. The 1997 Link-Belt’s listing doesn’t mention one, for instance. Ask what’s on the crane and whether it works.

So what helps? A shorter term, for one. A down payment can come up on an older crane or a thinner file. And if you’re buying the crane for a contract you’ve already won, put that on the application, because contractors in that spot are among the strongest files we see.

Frequently asked questions

Can you finance a used crane from an auction?

Yes. Five West finances used cranes bought at auction, from a dealer or from a private seller. Send the lot number with the serial and hours before you bid. The auction house or seller is paid directly once documents are signed.

Is there an age limit on a used crane?

There is no age limit, though older equipment can be tougher to get done. Older equipment typically gets a shorter term.

How many hours is too many on a used crane?

Five West doesn’t set a maximum hour reading. Hours, condition and records decide the term.

Do you need a down payment on a used crane?

With good credit, you usually don’t need a down payment, even on used equipment. One can come up on an older crane or a thinner file, and startups usually put some money down.

What is the monthly payment on a used crane?

For an established business with nothing down, a crane listed at $320,000 is an estimated $6,643 a month over 60 months. Actual payments depend on credit, the equipment and the term.

What records should you get before buying a used crane?

Ask for the latest annual inspection, older annuals, repair records, every hour meter reading, and the load chart and manual that match the crane’s serial number.

Keep reading

More for crane buyers and anyone buying used.

Crane & riggingBoom truck and crane financingNew and used prices by crane type. Private salesBuying a crane from a private partyLiens, titles and how the money moves. Working capitalCrane leasebackCash from a crane you already own. Used equipmentHow many hours is too many?What matters more than the hour meter.

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This article is general information about financing used cranes, not tax, legal, safety or accounting advice or a commitment to finance. Prices shown are listed asking prices from public pages on the date checked, not appraisals or offers. Crane rules can change, so confirm them before you buy. 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.