Customer Financing for Heavy Equipment Dealers

A contractor calls about a used loader. They like the machine and the price, but need financing before they can complete the purchase. Your usual lender cannot handle the request. What happens to the sale?

Heavy equipment dealers don't need to rely on only one financing relationship. Raymond Leigh helps Canadian dealers offer customers another route to financing for new and used machinery, working through 40+ lenders and financing partners.

You can refer a buyer when needed, or discuss adding an application to your dealership's website and sales process. Keep your existing lender or broker. Use us alongside them.

Two ways heavy equipment dealers can work with Raymond Leigh

1. Refer the customer who needs financing

Your salesperson identifies a buyer who wants a machine but needs financing. With the customer's permission, you introduce the buyer and share the equipment quote. Raymond Leigh handles the financing conversation and coordinates the application with potential lending partners.

This approach works well when your team already has a strong financing relationship but needs an additional option for unusual transactions, used inventory or customers your primary lender does not serve.

You do not need to rebuild your website or make every customer use the same provider.

2. Build financing into your existing sales process

An embedded financing arrangement brings the application step into the dealership's buying experience. A customer viewing a machine could select a financing link, or a salesperson could share a dedicated financing page when sending a quote.

The page can potentially be co-branded for your dealership. The exact application route, branding, follow-up procedure and communication responsibilities should be agreed before launch.

The setup depends on how your dealership operates. We can discuss a dedicated financing page, how customers submit their requests and how our teams coordinate the financing process.

The objective is straightforward: make it easier for a qualified buyer to ask about financing while deciding whether to purchase your equipment.

Do we have to replace our current bank or leasing company?

No. Many dealers already work with an OEM financing program, bank, leasing company or another broker. Keep what works.

You may want to use Raymond Leigh for a second look, a transaction that falls outside a primary provider's equipment criteria, or a customer who wants to compare available financing structures.

For example, a dealer's established lender may be comfortable with new excavators but unwilling to consider a particular older machine from the dealer's trade-in inventory. The dealer could ask Raymond Leigh whether another lender might consider that purchase. This is an illustrative scenario, not an actual Raymond Leigh deal or a promise of approval.

Different providers can have different preferences, but no broker can guarantee a positive decision.

What does second-look financing mean?

Second-look financing means reviewing a transaction after the dealer's usual financing route did not result in an acceptable offer or approval.

Before applying elsewhere, identify why the first file stopped. Was it the machine's age or hours? The customer's operating history? The amount requested? Missing information? The seller or delivery deadline?

A useful second look addresses the underlying problem rather than submitting the same incomplete request repeatedly.

Raymond Leigh can review the available information and assess whether it makes sense to explore another financing partner. Lenders retain the final credit decision.

Which heavy equipment purchases can be considered?

Depending on the buyer and the transaction, financing may be considered for:

• New and used excavators and mini excavators
• Wheel loaders and backhoes
• Dozers, graders and other earthmoving equipment
• Skid steers and compact track loaders
• Equipment sold from dealer trade-in inventory
• Machines being disposed of from rental fleets
• Multiple machines and compatible attachments
• Purchases requiring transport between provinces

Machine type is only one factor. Financing partners may also examine the year, serial number, operating hours, condition, seller, market value and buyer's financial information.

Rental-fleet units and higher-hour used machinery may need extra documentation or inspection. An equipment dealer should not assume every machine qualifies merely because it is listed for sale.

How do we handle used inventory and rental-fleet disposals?

A used machine creates more questions than a new one. The buyer may want to see service history, inspection information and the hours. The financing provider may also need evidence of value and clarity on ownership.

Before submitting a deal, gather the machine identification, an itemized quote, available maintenance details, photographs and any known lien or payout information.

If a machine is subject to existing financing, a suitable payout and release arrangement may be required before closing. Do not release equipment based only on a preliminary financing response.

For a general buyer-facing explanation of these issues, see our Used Heavy Equipment Financing in Canada guide.

What information should our salesperson collect?

Your team does not need to underwrite customers. Start with the details that allow someone to understand the deal:

1. Equipment: Type, make, model, year, hours, asking price and serial number where available.
2. Customer: Legal business name, province and authorized contact.
3. Timing: Whether the buyer is comparing options, ready to purchase or facing a delivery deadline.
4. Transaction: Trade-in, deposit, attachment package, seller lien, transportation or auction-related conditions.
5. Existing financing: Whether the buyer already has a bank offer or an earlier decline.

Sensitive personal and financial documents should be collected using an appropriate authorized application process, not circulated informally among sales staff.

What happens from referral to funded sale?

Step 1: Quote the machine. The dealer identifies the equipment, sale price, applicable fees and delivery terms.

Step 2: Introduce financing. The buyer receives the appropriate referral or application route and understands that financing is subject to approval.

Step 3: Review the file. Raymond Leigh examines the buyer and purchase information and explores suitable financing partners.

Step 4: Confirm conditions. The lender's offer, required documentation, security, insurance where applicable and funding conditions must be addressed.

Step 5: Complete the purchase. Once closing requirements and funding arrangements are confirmed, the dealer coordinates the sale and delivery.

The process may require additional steps depending on the borrower, machine and seller. An initial answer is not the same as unconditional approval or confirmed funding.

What if the customer already has a bank?

The buyer may continue using their own bank. The dealer can present Raymond Leigh as an additional option, not a mandatory replacement.

If the customer wants to compare financing, review the total cost, term, payment schedule, fees, early payout conditions and end-of-term obligations. A lower monthly payment does not automatically mean a less expensive agreement.

What should dealers avoid promising?

Sales teams should not guarantee interest rates, zero down payments, approval, monthly payments or funding deadlines without confirmed lender terms.

A practical statement is: “We have another financing contact who can review your machine purchase. Approval and terms depend on the lender.”

That keeps the financing conversation helpful without creating expectations your dealership cannot control.

Can a dealer receive compensation from financed sales?

A vendor or referral partnership may include compensation for eligible funded transactions, subject to the commercial agreement and any applicable legal or disclosure requirements.

Compensation details should be discussed directly with Raymond Leigh. Not every referred transaction is approved, funded or eligible for the same arrangement.

What makes a useful dealer financing partner?

Before choosing a program, ask who contacts customers, who collects confidential documents, who handles lender questions, how delivery deadlines are communicated and how the dealership will know when a sale can close.

Ask whether the process can handle used equipment, unusual machines, customers who already have a bank and second-look requests. Most importantly, make sure your salespeople know when to introduce financing and who takes responsibility for the next step.

Work with Raymond Leigh

Raymond Leigh is a Canadian equipment finance brokerage with access to 40+ lenders and financing partners. Our typical equipment financing range is $50,000 to $5 million. We work with dealers and buyers of new and used machinery, subject to the facts of each transaction.

Start by referring one customer or discuss how financing could fit directly into your dealership's sales process. Either way, you can keep your existing financing relationships.

You sell the equipment. We help with the financing.

Discuss a dealer financing partnership

Frequently asked questions

Can our dealership keep its current finance provider?

Yes. Raymond Leigh can be an additional financing contact rather than replacing your bank, leasing company or broker.

Can we send buyers whose first application was declined?

You can request a second review. A previous decline does not guarantee another lender will approve the transaction.

Can we offer financing for used equipment?

Used equipment may be considered depending on the condition, age, value, purchase documents and buyer's financial circumstances.

Can financing be added to our website?

We can discuss a dedicated financing page for your dealership, including how customers apply and how financing requests are handled.

Does Raymond Leigh approve customers?

No. Raymond Leigh is a brokerage. Financing partners make lending decisions and set terms.

Do our salespeople need to collect financial statements?

Not necessarily. Establish an appropriate channel for the customer to provide sensitive financial information directly to the authorized party.

Can the dealership earn a commission?

Compensation may be part of an agreed vendor partnership for eligible funded deals, subject to applicable requirements.