Auction Equipment Financing

Why auction pre-approval matters

Auctions move fast. If you don’t have a funding ceiling and proof-of-funds, you risk missing the unit or overbidding. Pre-approval lets you set a maximum bid that already includes buyer’s premium, taxes, transport, and any immediate repairs. Start by modelling payments in the calculator and reviewing your options under Equipment Financing.

The step-by-step path to funding

Pre-qualify and set a ceiling
Estimate a practical max bid using the calculator. Include the auction house premium, HST/PST/QST, titling, and transport. Check fit on Eligible Equipment.

Choose the structure that fits your cash flow

• Equipment Loan for long-life assets you plan to keep.
  
  
• Equipment Lease if you want a lower monthly via a residual/buyout.
  
  
• Equipment Line of Credit if you buy at auctions regularly and need a reusable limit.
  
  
• Already own assets? Use Refinancing & Sale-Leaseback to unlock cash before auction day.
  
  
• For fees, deposits, or fuel floats, keep a Business Line of Credit handy.
  
  

Gather the essentials
Business snapshot, IDs, recent bank statements, proof of ownership (if sale-leaseback), insurance details, and—after you win—the auction invoice, serials/VINs, and photos.

Get proof-of-funds
Some auctions require it to bid. We issue letters aligned to your approved ceiling so you can register without delays.

Bid and settle
When you win, we fund against the auction invoice (including premium and taxes where eligible). If repairs are needed, use Truck Repair Financing to avoid draining cash.

What lenders look for at auctions

• Time in business and credit strength; startups can qualify with the right structure.
  
  
• Asset class, age, hours/mileage, and resale depth.
  
  
• Reasonable term vs remaining useful life.
  
  
• Liquidity to cover transport, plates, and initial maintenance.
  
  
• Clean title (we handle PPSA checks).
  Explore sector nuances here: Transportation & Trucking and Construction & Contractors.
  
  

Compare your funding options

Case example

A GTA carrier needed a used reefer trailer at auction plus cash for plates and initial maintenance. We pre-approved an equipment line of credit, provided proof-of-funds, and funded the win the next day, capitalizing the buyer’s premium and HST. After the unit was earning, they termed out the draw into an Equipment Loan for a lower rate and predictable amortization.

Are you looking for a truck? Look at our used inventory.

Common mistakes to avoid

• Forgetting to model premium, taxes, and transport in your ceiling.
  
  
• Choosing term lengths longer than the unit’s remaining useful life.
  
  
• Skipping a repair reserve; cover with Truck Repair Financing.
  
  
• Relying on one lender; blend tools like Asset-Based Lending if you need extra liquidity.
  
  

FAQ

Can you include buyer’s premium and tax in financing?
Often yes; we can capitalize eligible costs so you preserve cash.

Do startups qualify for auction financing?
Yes, with structure (reasonable down payment, collateral, or co-signer) via leases or in-house options.

Can I get approved before I pick a unit?
Yes—get a ceiling and proof-of-funds, then we finalize once you have the invoice.

How fast is funding after a win?
With a clean file, decisions in 24–48h and rapid funding after docs are signed.

What if I already own equipment but need cash to bid?
Use Refinancing & Sale-Leaseback to unlock equity.

How do I estimate payments quickly?
Run scenarios in the calculator and we’ll quote your exact terms.

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Ready to bid with confidence? Model your payment in the calculator, choose the right structure (loan, lease, or line), and feel free to contact our credit analysts via Contact Us for a same-day plan. We also sell equipment directly—browse current Inventory.