Your Guide to Boom Truck Financing
A boom truck. lift trucks, and boom lift equipment are distinct pieces of equipment used for different purposes. Many industries carry this type of equipment in their fleet for contractor and subcontractors. However, when it comes to financing, we don’t treat the differently. We can finance them up to 5 years with monthly payment for any new or used boom trucks, boom lifts and lift trucks. This will guide you on how to get the best business financing for you next equipment purchase.
Your Guide to Boom Truck Financing & Leasing
New or used. Dealer or private seller. Fixed, predictable monthly payments up to 60 months—often with $0 down for well-qualified borrowers. Get app-only approvals up to $250K; larger with financials.
Straight Talk: Why Leasing Wins for Depreciating Assets
Boom equipment depreciates. Don’t trap cash in a fixed asset. Leasing aligns cost with revenue, hedges inflation with fixed payments, and avoids the big down payments many banks demand on used units. Net: lower, predictable payments and more working capital for labor, fuel, and bids.
Compare Types of Financing for Boom Equipment
| Feature | Business Loans | Equipment Leasing | Equipment Financing (EFA) |
|---|---|---|---|
| Ownership | 50% | 100% | 100% |
| Initial Costs | $0 | Low–Moderate | Varies |
| Payments | Monthly / Daily / Weekly | Monthly | Monthly |
| Credit Minimum | ~500 | ~600 | ~650 |
| Disbursement | Client | Vendor | Vendor |
| New/Used Eligible | n/a | Yes | Yes |
| Maximum Term | 24 mo | 60 mo | 60 mo |
| Time in Business | 3+ yrs | Startup OK | Startup OK |
| Interest/Cost | Moderate | Low | Low |
| Application-Only Max | $150K | $250K | ~$250K |
Leasing is typically the most cost-effective for depreciating assets: lower entry cost, fixed predictable payments, and upgrade flexibility.
Loans & Capital Options Snapshot
| Type | Min FICO | TIB | Monthly Revenue | Amount | Starting Rates | Collateral |
|---|---|---|---|---|---|---|
| Factoring | 600+ | Any | $10k+ | $20k+ | 1–5% | Invoices |
| Term Loans | 550+ | 12+ mo | $20k+ | $1k–$3MM | 7%–18% | Unsecured |
| Equipment Loan | 600+ | Any | Startups OK | $20k–$5MM | 8%–36% | Equipment |
| Line of Credit | 650+ | 12+ mo | $20k+ | $100k+ | <10% | Unsecured |
| Commercial Loans | 650+ | Any | Any | $250k+ | 7%–18% | Property |
Boom Truck vs. Boom Lift Truck (Aerial Lift)
Boom Truck
- Utility: Hydraulic crane for heavy lifting; often with flatbed
- Industries: Construction, utilities, oil & gas, forestry
- Finance notes: Higher ticket; focus on maintenance history and resale
Boom Lift / Aerial
- Utility: Elevates crew/tools (articulating or telescopic)
- Industries: Telecom, utilities, building maintenance, tree care
- Finance notes: Generally lower ticket; great FMV lease candidate
Lift trucks/forklifts dominate warehousing, distribution, manufacturing, retail, and construction material handling.
Pros & Cons — From Both Sides
| Lease | Finance (EFA) | Pay Cash | |
|---|---|---|---|
| Working Capital | Preserved | Mostly preserved | Depleted upfront |
| Predictability | Fixed low payments | Fixed payments | None |
| Used Equipment | Easier than banks | Common | n/a |
| Upgrade Flex | FMV return/upgrade | Own day one | Buy again with cash |
| Lender View | Residual/condition risk | Collateral value risk | — |
Bottom line: For depreciating assets, leasing is typically the most cost-effective path: fixed, affordable payments and no large down payment.
Ask About Our Financing Promotions
- $99 for the first 6 months (kickoff with $99)
- 90-day Deferred Payments
- $0 Down / 0% Down or security deposit for well-qualified lessees
What You Get with Liberty Capital
- Fast, simple online app — no financials up to $250K (corp-only possible)
- 120% equipment cost (soft costs considered)
- Next-day funding approval possible
- 12–72 month fixed terms
- New or used; dealer or private seller
- Often does not report to personal credit
- FMV (off-balance-sheet), $1 buyout, and EFA
Boom Lifts & Aerial Lifts
- Lease-to-Own and FMV programs
- Great for frequent upgrades & safety tech
Lift Trucks / Forklifts
- Vendor financing friendly
- Seasonal payment plans available
Scissor Lifts
- Short-term rentals if temporary need
- Operational (FMV) leases for refresh cycles
Why It Matters (Owner’s View)
- Cash is king: Keep liquidity for payroll, fuel, permits, and growth
- Affordability: Fixed, predictable, low payments for up to 5 years
- Used friendly: Where banks say “no” or demand big collateral
- Private party OK: We verify and structure safely
Underwriter’s Lens
- Asset resale & condition history (depreciation is real)
- Bank balances/NSFs, time-in-business, and route/contract quality
- Structure: FMV vs $1 vs EFA; down payment or security deposit
Bad-credit paths may require collateral and/or larger deposits — still often cheaper than draining cash.
What Do I Need to Apply?
- Online Application — submit and authorize (soft inquiry to start; hard pull at final equipment approval).
- Recent Bank Statements — typically last 3–4 months.
- Equipment Invoice/Quote — dealer or private seller; we can bundle soft costs.
- (If requested) Last year’s tax returns & current financials for larger tickets.
Join thousands who’ve financed with Liberty Capital over 20+ years. A dedicated funding manager will map options, timeline, and vendor payment.
Structures We Offer
- Off-balance-sheet FMV (incl. 10% FMV option)
- Capital Lease — $1 buyout
- Equipment Finance Agreement (own day one)
- Lease Rental Purchase Option (RPO)
Ready to compare FMV vs $1 vs EFA? We’ll model cash-flow and total cost side-by-side.
Compare types of Financing available for Boom Trucks
Feature | Business Loans | Equipment Leasing | Equipment Financing |
Ownership | 50% | 100% | 100% |
Initial Costs | $0 | Low to moderate | Varies |
Monthly Payments | Monthly, Daily, Weekly | Monthly | Monthly |
Credit Minimum: | 500 | 600 | 650 |
Fund Disbursements | Client | Vendor | Vendor |
New/Used Equipment | n/a | Yes | Yes |
Maximum Term | 24 months | 60 months | 60 months |
Time in Business | 3+ years | Startup OK | Startup Ok |
Interest Rates | Moderate | Low | Low |
Application Only | $150K | $250K | S250K |
Loans Types Available to Your Business
Factoring | Line of Credit | |||
Credit Score | Credit Score | Credit Score | Credit Score | Credit Score |
600+ | 550+ | 600+ | 650+ | 650+ |
Time in Business | Time in Business | Time in Business | Time in Business | Time in Business |
Any | 12 months+ | Any | 12 months+ | Any |
Monthly Revenue | Monthly Revenue | Monthly Revenue | Monthly Revenue | Monthly Revenue |
$10,000+ | $20,000+ | Startups Ok! | $20,000+ | Any |
Loan Amount | Loan Amount | Loan Amount | Loan Amount | Loan Amount |
$20k+ | $1k – $3MM | $20k – $5M | $100k+ | $250k+ |
Starting Discount Rates | Starting Rates | Starting Rates | Starting Rates | Starting Rates |
1-5% | 7% – 18% | 8% – 36% | <10% | 7% – 18% |
Collateral | Collateral | Collateral | Collateral | Collateral |
Invoices | Unsecured | Equipment | Unsecured | Property |
Ask About Our Financing Promotion:
Liberty Capital accommodates clients with to financing options that will yield very little working capital outlay.
Here’s our current promotion to save on cashflow.
- $99 for the first 6 months: Requires only $99 to start
- 90-day Deferred Payments
- $0 Down Equipment Financing
