Telehandler and access platform finance lifting kit funded the right way

How does telehandler and access platform finance work?

Telehandler and access platform finance spreads the cost of lifting equipment, such as mobile elevating work platforms (MEWPs), scissor lifts, boom lifts, telehandlers and cranes, over fixed payments, typically two to seven years. The equipment usually secures the agreement, and on hire purchase it becomes yours at the end.

Lifting and access equipment covers a wide range of values. A small electric scissor lift for interior fit-out work is a modest purchase, while a large telehandler, a big articulated boom or a mobile crane can run well into six figures. Lenders look at each type differently, depending on how strong the used market is, how quickly the equipment depreciates and how specialist it is.

Many of our enquiries come from access hire companies building or refreshing a fleet, and from contractors who are tired of paying hire charges on machines they use most weeks. Hire firms need repayments that fit realistic utilisation, while contractors usually want terms that match the contracts the kit will work on. Vehicle-mounted cherry pickers combine a platform with a van or truck chassis, so they may be funded more like a commercial vehicle.

As a broker, we compare lenders across our panel, including those comfortable with specialist lifting kit and with older equipment that has a full inspection history. For a broader yard of plant, see plant and machinery finance; for diggers specifically, see excavator finance.

Key features

What businesses use it for

• Electric and diesel scissor lifts
• Articulated and telescopic boom lifts
• Telehandlers for construction sites
• Truck-mounted and van-mounted cherry pickers
• Spider lifts for tree surgery and restricted access
• Mobile and crawler cranes

Common lifting kit and what lenders look at

Inspections and certification to budget for

Access platforms and telehandlers are lifting equipment, so the Lifting Operations and Lifting Equipment Regulations apply. According to HSE, unless a written examination scheme sets other intervals, equipment used to lift people, such as MEWPs and cherry pickers, should be thoroughly examined at least every six months, and other lifting equipment at least every 12 months. HSE's table for telehandlers shows a 12-month maximum.

These examinations, along with servicing, operator training and insurance, add to the monthly cost of owning the kit. Lenders funding used equipment will often ask to see recent thorough examination reports, so keep them to hand.

Tax and capital allowances

GOV.UK lists construction equipment among the plant and machinery that may qualify for full expensing, which is available only to companies and only on new and unused assets. The Annual Investment Allowance, currently £1 million, may cover used equipment and is available to sole traders and partnerships as well. GOV.UK also confirms that at Budget 2026 the main-rate first-year allowance, which particularly benefits unincorporated businesses and businesses investing in plant for leasing, is set to rise from 40% to 50% for spending from 1 January 2027. Please speak to your accountant before relying on any allowance.

What lenders typically look at

• Equipment details: quote or invoice, make, model, year, hours and serial number
• Recent thorough examination reports for used equipment
• Business bank statements, typically the last three to six months
• Latest accounts or tax returns, plus management accounts if available
• Evidence of contracts or hire demand, and your fleet list if you are a hire firm
• Director or owner details for identity and credit checks