Skid Steer and Compact Track Loader Financing in Canada

A compact loader may be one of the most frequently used machines in a contractor's fleet. A skid steer can move material and clear a paved site in the morning, then work with a sweeper, auger or snow attachment later in the day. A compact track loader can perform similar jobs where soft ground, slopes and sensitive landscaping make tires less suitable.

Whether you're replacing an older loader or adding your first machine, the financing decision should start with the work you need to complete, the full cost of the purchase and the information a financing provider will require.

Raymond Leigh helps Canadian businesses explore equipment financing through a network of 40+ lenders and financing partners. We are a financing brokerage, not a direct lender. Approval, structure and terms depend on the financing provider and the particular transaction.

Can you finance a skid steer or compact track loader in Canada?

Yes. Financing may be available for a new or used skid steer loader or compact track loader used for commercial purposes. Depending on the lender, a transaction might be structured as an equipment loan or lease. The lender reviews both the business and the machine, including its price, expected use, ownership history and condition.

For a straightforward dealership purchase, an itemized quote and ordinary business documentation may be enough to begin a review. An older machine, a private-sale purchase or a package with several attachments may require more evidence before terms can be assessed.

Raymond Leigh's published equipment financing range generally begins around $50,000. If the machine alone falls below that figure, ask whether eligible equipment and attachments form a legitimate combined transaction. Do not assume every small machine or attachment purchase meets lender minimums.

Skid steer or compact track loader: which should you buy?

The main difference is the undercarriage. Skid steer loaders use wheels; compact track loaders use tracks. As Bobcat explains in its equipment buyer's guidance, wheel machines tend to suit firm or paved surfaces, while tracks can provide additional flotation and traction on softer or uneven ground.

Question	Wheeled skid steer	Compact track loader
Where will it work?	Often concrete, asphalt, firm gravel and established surfaces	Often soil, mud, uneven ground and sensitive landscaped areas
Undercarriage cost	Inspect tires, wheels and drive components	Inspect rubber tracks, rollers, idlers, sprockets and track tension
Typical purchasing trade-off	Often simpler tire-related upkeep	Tracks and related components may increase maintenance cost
What matters to a lender?	Condition, hours, use, resale and identifiable equipment	The same factors, plus track and undercarriage condition

The right choice depends on the particular job and model, not merely whether tires or tracks sound more capable. Check rated operating capacity, lift height, hydraulic requirements, trailer limits, access width and attachment compatibility.

Financing consideration: a cheaper machine is not necessarily the better acquisition if it cannot handle the work or if foreseeable repairs quickly absorb the savings. Conversely, a more expensive compact track loader should be justified by how it will actually be used rather than by a generalized claim about earning potential.

What skid steer and compact track loader equipment can be included?

A transaction may involve a wheeled skid steer, compact track loader or an eligible package with productive attachments. Common attachments include buckets, pallet forks, grapples, augers, trenchers, brush cutters, hydraulic breakers, snow blades, snowblowers and sweepers.

Do not assume an accessory is automatically financeable because it fits the machine. The lender may consider the attachment's value, resale market, serial identification, whether it is new or used, and whether it is purchased together with the carrier machine.

Request an itemized quote that distinguishes the loader, attachments, freight, applicable taxes and installation or setup charges, if any. That gives the financing provider a clearer basis to decide which portions of the transaction it can consider.

A specialized high-flow attachment may also require a loader with the appropriate hydraulic capacity. Confirm the actual specifications rather than buying an attachment package based only on a salesperson's general assurance.

Financing a new machine versus a used machine

New skid steer or compact track loader

A new dealer machine typically comes with a clear equipment description, sale price, seller information and warranty terms. The quote should identify the exact configuration, included attachments and expected delivery date.

Manufacturer promotions and dealer financing programs may be worth comparing with brokerage-arranged alternatives. Promotional offers can have limited eligibility, model restrictions or changing terms. Compare the total transaction cost, not just the advertised payment or headline rate.

Used skid steer or compact track loader

Used machines can be attractive to businesses that need capacity without buying new. Lenders may nevertheless examine age, hours, condition, remaining useful life and the asset's resale value. A maintenance record and recent inspection can help explain the machine's condition, particularly for a heavily used loader.

For a compact track loader, pay close attention to wear on rubber tracks, rollers, idlers and sprockets. For a wheeled skid steer, inspect tire condition, hydraulic performance, leakage, lift arms, controls and signs of structural repair. On both, confirm attachments operate as represented.

Hours are useful evidence but not a complete condition score. A machine with fewer hours and poor maintenance is not automatically a better purchase than a higher-hour unit with documented service.

For the wider used-equipment purchase process, see our Used Heavy Equipment Financing in Canada guide.

Can you finance a skid steer bought from a private seller or at auction?

Possibly. Dealer purchases, private sales and auctions create different documentation and closing requirements. Not every financing provider accepts every seller type.

A private seller may not have a dealer-style invoice or complete business records for the machine. Clarify the seller's legal identity, the equipment serial number, asking price, ownership evidence and any existing security interest before assuming the deal is ready to fund.

Auctions can present timing challenges: deposits, buyer's premiums, inspection access and payment deadlines may not align with financing approval and disbursement. Obtain lender guidance before committing funds that cannot be recovered.

Existing liens matter. For Canadian purchases, the relevant provincial personal property security registry or Quebec's RDPRM may need to be checked, and existing financing may need a documented payout and discharge process. Do not treat an online listing or bill of sale alone as proof that an asset is free of encumbrances.

How do you finance a loader for landscaping, snow removal or a seasonal contractor?

Compact loaders are used by excavating contractors, landscapers, snow-removal companies, property maintenance operators, agricultural businesses and rental fleets. The lender will normally want to understand the applicant's actual business and how the equipment supports its operations.

Seasonal revenue deserves a clear explanation rather than an unsupported promise that payments will always match the season. Show how the machine is expected to be used, how the business has historically generated cash, what commitments support future work, and how obligations can be met during quieter months.

For a business transitioning from rentals to ownership, compare realistic utilization, transport, service, downtime, insurance and storage costs against rental spending. A financed machine can improve availability for regular projects, but ownership also creates responsibilities between jobs.

If you're newly established or expanding rapidly, financing providers may ask different questions than they would for a long-operating contractor. Do not assume that one particular business age, credit score or down payment universally determines eligibility.

What do lenders consider before offering financing?

The financing review commonly combines business-level and equipment-level information. The exact documentation varies by lender and file.

Business information may include: legal business name, ownership, operating history, recent financial information, bank statements, existing borrowing obligations and the purpose of the purchase.

Equipment information may include: make, model, year, serial number, operating hours, equipment quote or purchase agreement, seller identification, machine location, attachments, photos or inspection records.

Transaction details may include: cash contribution if requested, desired timing, whether the loader is new or used, whether the seller is a dealer or private party, and any known liens or payout arrangements.

A lower down payment, faster approval or longer financing term is not something Raymond Leigh can guarantee. The best way to reduce avoidable delays is to provide accurate, complete information and flag complications early.

Are down payments, rates and financing terms the same for every loader?

No. Financing costs can vary with the applicant, machine, finance structure and market conditions. Older or specialized assets may be treated differently from newer equipment with a clear resale market. A lender may also assess a private-sale transaction differently from a standard dealer sale.

Do not rely on a generic internet interest-rate range as a personal quote. Request written financing terms and assess the amount financed, required upfront contribution, payment frequency, total cost, end-of-term obligations and any applicable fees.

A loan and a lease may both be relevant, but their legal and financial treatment can differ. The right option depends on the actual offer and your business's circumstances. For a broader comparison, consult Raymond Leigh's existing loan-versus-lease guide rather than treating this page as a substitute for that decision.

Can attachments, taxes, delivery and transportation be financed?

Potentially, but the answer depends on the lender and transaction structure. Some providers may consider eligible attachments acquired with the machine, while separately purchased accessories or soft costs may be treated differently.

Have the dealer separate each cost on the quote. For equipment arriving from another province or the United States, clarify transport responsibilities, currency exposure, import requirements and when the final landed cost becomes known.

A combined package should make operational sense. Adding miscellaneous expenses merely to reach a lender's minimum is not a sound financing strategy.

Financing one loader versus expanding a fleet

An established contractor might need a single replacement machine. Another business may be buying multiple compact loaders for crews serving different sites. These are not identical financing files.

When replacing a machine, identify whether the old one is being traded in, sold, retained as a backup or still subject to financing. If there's an outstanding balance, obtain a payout amount before assuming that the trade-in value is fully available.

When adding a fleet, prepare a machine-by-machine schedule with purchase price, configuration, intended use and expected delivery timing. The financing partner can then evaluate whether one coordinated package or separate transactions is more appropriate.

A business seeking liquidity against already-owned machines has a different objective from financing a new purchase. The broader equipment refinancing and sale-leaseback service pages own those financing structures.

How can an equipment dealer help a buyer with financing?

A loader dealer may have its own manufacturer finance program, bank relationship or existing brokerage partner. That does not necessarily prevent the dealer from exploring a second option for buyers whose transactions don't fit the first channel.

Raymond Leigh can discuss a referral arrangement or a dedicated financing application path with dealers. The exact workflow is agreed case by case. For the vendor perspective, see Customer Financing for Heavy Equipment Dealers.

Dealers should identify the machine precisely, itemize attachments and disclose known condition or ownership issues before a customer submits a financing request. The dealer's role is to provide accurate sale details, not to promise approval.

What should you do before applying?

First, decide exactly which machine and attachment configuration is required. Then collect the seller's quote and the relevant business information. If the transaction involves used equipment, a private sale, an auction deadline, existing liens or an unusual configuration, disclose that at the beginning.

You don't need to know which lender would be best before speaking to Raymond Leigh. Our role is to review the transaction and help determine whether an appropriate financing option can be explored within our network.

Ready to purchase a skid steer or compact track loader? Tell Raymond Leigh the machine, approximate purchase amount, province, seller and timing. We'll discuss the information needed to evaluate potential financing options. Financing is subject to lender review and approval.

Frequently asked questions

Can a new contractor finance a skid steer?

Potentially. Financing providers may consider the owner's background, business plan, current cash flow, financial support and machine suitability. A newly formed business should not assume the same requirements as an established contractor, or that approval is guaranteed.

Can I finance a used Bobcat, CAT, John Deere or another brand?

Financing may be considered for used commercial loaders from many manufacturers, depending on the machine's condition, age, value, seller and lender preferences. The brand alone does not determine eligibility.

Does a compact track loader qualify differently from a wheeled skid steer?

Both types may be considered, but track and undercarriage condition, maintenance and valuation can influence the review of a used compact track loader. Lenders assess the particular machine rather than approving every loader category identically.

Can I include buckets, forks, augers or snow attachments?

Possibly. Provide an itemized quote and confirm compatibility with the machine. Eligibility depends on the lender, attachment value and how the purchase is structured.

Can I finance a loader bought from a private seller?

Some financing providers consider eligible private-sale transactions. Expect additional questions about seller identity, ownership evidence, serial numbers, purchase documents and lien discharge.

Is financing available if my business works seasonally?

It may be. Explain seasonal revenue, current commitments and how the equipment supports your operations. The lender determines what repayment structure, if any, it can offer.

Is there a standard skid steer financing rate or down payment?

No universally applicable rate, minimum contribution or term exists across all financing providers. Request file-specific terms and compare the total cost and contractual obligations.

Can a dealer refer my financing request without changing its existing lender?

Yes, a dealer may discuss using Raymond Leigh alongside an existing financing relationship. Any referral or embedded arrangement should be confirmed with the dealer and Raymond Leigh before presenting it to customers.