Digger Finance (excavator)
Digger Finance
The term ‘digger’ is simply a nickname for the industry term excavator. There are a variety of different types of excavators for both commercial and residential projects. Excavators are the workhorse of any construction site. They can be used for everything from creating space to place foundations, digging out ponds and pools – even removing earth like topsoil. They consist of a boom, dipper, bucket and cab on a rotating platform known as the house.
Types of Diggers/Excavators
Firstly, there are three main sizes of excavators/diggers which are the mini excavator, micro excavator and crawler excavator. Looking specifically for a mini digger? Click ere to check out our dedicated mini digger page! For more information on the different types of excavators, please see below.
Crawler Excavators
The crawler excavator is a type of machine that runs on two rotating tracks instead of wheels. The tracked chassis provides stability in difficult terrains, which makes it an excellent choice for steep or rough terrain where wheeled models would be prone to getting stuck!
Wheeled Excavators
The wheeled excavator is like the crawler (standard) but with wheels instead of tracks. Because it lacks traction, this machine best suits asphalt or concrete surfaces and can be faster when used on a smooth hard surface such as pavement. On these surfaces it is much faster than the crawler and is also easier to manoeuvre.
Suction Excavators
Suction excavators, also known as ‘vacuum excavators’ are machines that ingest soil and debris at speeds of 200 miles per hour! These suction systems can also cut down excavation jobs which require very precise work because they remove any loose material with their water jet system.
Long Reach Excavators
The long reach excavator has a lengthy arm and boom, which are both capable of spanning up to 100 feet. It’s perfect for construction sites where terrain or other obstacles make it difficult for operators to get close. For example, when being used in demolition projects over a lake or river.
Dragline Excavators
The dragline excavator is a larger and more powerful machine that’s capable of excavating under water. The hoist rope system used makes it ideal for working in tight spaces, allowing you to move around freely with no restrictions on your movements.
HAF work alongside specialist excavator suppliers across the UK to make sure we can find the best new or used digger for your business. To reduce the upfront cost, HAF provide flexible finance agreements to spread the cost into manageable monthly payments. Please get in touch today to find and finance your next excavator.
Why Use HAF?
As industry leaders in the asset finance industry, we have a dedicated team that specialise in hard asset finance. Partnering alongside suppliers and providing direct finance to customers. We can provide leading rates, professional advice and connections to some of the best suppliers and manufacturers of equipment and vehicles. Saving you time and effort by delivering an all-in-one solution. Perfect for any business looking to acquire hard assets in the most affordable way possible.
The sectors we specialise in include commercial vehicles, manufacturing equipment, plant equipment, machinery, construction vehicles and agricultural machinery/vehicles.
Financing hard assets provides finance companies with good security as the assets tend to retain value for many years, even at the end of their lease. This combined with our access to a diverse portfolio of funders means we can provide you a bespoke and affordable finance option.
Key points
- We can source your vehicle
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Offer a range of flexible
finance options - Provide industry leading rates
- Both new and used vehicles
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Offer years of industry
experience
Benefits of Digger Finance
Asset finance is most commonly used to acquire hard assets. A hard asset is a tangible/physical asset with fundamental value that are normally held for the long term. Like recovery trucks they are often key to the businesses operations but are expensive in value. These are two of the key reasons why most businesses look to use a hard asset finance facility. There are also a range of benefits that come with this option:
Protect Cash Flow
Keep cash in the business and invest in areas that will produce a return on investment. Obtain the vehicle that is necessary for your business with little to no upfront cost.
Fixed Repayments
Perfect for financial planning and selecting a finance package that is affordable for your business.
No Large Upfront Cost
No need to invest large sums upfront, however this is an option if you wish to reduce monthly payments.
Quick Access
If you need a recovery truck urgently but don’t have the immediate cash available, finance allows you to obtain the asset immediately without having to wait for the cash reserves.
Access to Higher Spec Vehicles
No need to compromise on the vehicle you select. The difference in a newer or higher spec vehicle can often be a very small increase in monthly payments.
HAF Finance
Here we have the four agreement types used for recovery truck finance and all hard assets. Here at HAF, we will guide you through all options and help you select the most suitable for your business.
Finance Options
Hire Purchase
Hire Purchase (HP) are monthly rental instalments where at the end of the term you have the option to purchase the asset outright or simply return it. Payments can be structured to align with your cash flow which could mean a small upfront payment or larger to reduce monthly payments.
Finance Lease
A finance lease is a leasing agreement which involves renting the asset over an agreed period of 1-5 years. A popular method due to the significant tax advantages. At the end of the agreement, you have four options: Hand the asset back to us at HAF, purchase the asset outright, continue paying the monthly payments or take out a new lease.
Operating Lease
An operating lease is an agreement to use and operate an asset without the transfer of ownership. Often used for high value assets, the rental is at an agreed rate and time period. The rental will not cover the full cost of the asset, therefore at the end of the agreement a residual value is offered by the funder which allows you to buy the asset minus the lease rentals paid so far.
Business Contract Hire
Business contract hire is a popular finance option used for company cars. The vehicle is leased over an agreed period from 2-5 years. At the end of the agreement, the vehicle is handed back to the finance company. A simple agreement often used for brand new vehicles, sometimes used with no upfront fee just monthly instalments.
Types of Machinery
