Finance new or used mining haul trucks from $50,000 and up. Application-only up to ~$400k, B/C credit considered, funding in about 1-2 weeks. Get a quote today.
Availability is production and production is revenue. Every haul truck sitting idle at the shop or waiting on a wire transfer represents ore that did not move, tonnage that did not hit the crusher, and revenue your mine will not recover on that shift. We specialize in financing mining haul trucks across the full weight class spectrum, from 100-ton class units used in smaller open-cut operations all the way up to the 360-ton giants that define fleet economics at large copper and coal operations.
Haul trucks represent the single largest equipment spend on most open-pit mines. A modern 240-ton diesel-electric truck can run $4 million to $6 million new, and even thoroughly rebuilt used units regularly trade above $800,000. Capital at that scale demands a lender who understands the asset class and the way mining cash flows actually work, not one who treats a Cat 793 like a pickup truck. We have structured haul truck deals for owner-operators running two-truck fleets at aggregate quarries, for contract mining companies bidding tonnage contracts, and for mine operators expanding payload capacity ahead of production ramp-up.
Our minimum is $50,000 and our sweet spot is $100,000 to $1 million-plus per unit. We accept purchase, refinance, sale-leaseback, and cash-out structures, and we work with B and C credit where the asset quality and operational history support it. Application-only approval is available up to roughly $400,000. If your situation calls for bank statements, we typically want three months. Most funded deals close in about one to two weeks.
What Makes Haul Truck Financing Different
Haul trucks are not construction equipment. The financing structures that work for an excavation contractor do not map cleanly onto a mine's fleet management reality. A few specifics matter here.
First, duty cycles are extreme. A truck running two 10-hour shifts on a 10% grade haul road accumulates hours and wear at a pace that general equipment lenders are not equipped to evaluate. We look at the operational history, the rebuild status, and the remaining frame life rather than just the odometer reading or calendar age.
Second, resale market depth varies sharply by payload class. The 100-ton and 150-ton classes have reasonable secondary markets because they serve a wider range of mines. As you move into the 220-ton to 360-ton class, the buyer pool narrows considerably, which affects how lenders structure terms. We know these distinctions and structure accordingly.
Third, electric drive systems on large trucks like theKomatsu 930E haul trucksandCaterpillar 793 haul trucksrequire lender familiarity with drive motor rebuild economics. A truck with recently rebuilt wheel motors is a materially better credit than the same chassis with original motors at high hours. We account for that in our credit view.
Fourth, many haul trucks operate under long-term mine contracts or royalty arrangements that provide predictable forward revenue. Where that contract visibility exists, it strengthens the credit picture, and we can use it to structure longer terms or higher advances.
New and Used Haul Trucks: Financing Either
New haul trucks from OEM dealers carry full warranty, factory specifications, and predictable maintenance curves. They also carry price tags that stretch most operators' balance sheets. We finance new units through dealer invoices or direct purchase agreements, with terms that typically run five to seven years depending on the payload class and the buyer's credit profile.
Used haul trucks bought through auctions, private-party sales, or mine dispersals represent a completely different calculation. You might acquire a 150-ton unit with a recent engine overhaul and new tires for a third of its replacement cost, and the operational life remaining can easily justify a multi-year finance term. We coverused mining equipment financingand can work from auction invoices, bill of sale, or private-party purchase contracts. We also financeprivate-party equipment purchasesdirectly, which is how a lot of haul truck transfers actually happen between mine operators.
Rebuilt units present their own documentation needs. A professionally rebuilt 240-ton truck from a recognized rebuilder represents real value, but we want to see the rebuild scope, the components addressed, and ideally a third-party inspection. That documentation supports the advance and the term length.
Who Uses Our Haul Truck Financing
Contract mining companies: you bid a haul rate on tonnes moved, you need the equipment in position before the contract starts, and the mine won't wait for your bank to finish its credit review. We fund in about one to two weeks, which keeps your bid calendar realistic.
Mine operators expanding capacity: a gold or copper operation hitting a production bottleneck because load-haul ratios are out of balance needs another truck, not a six-week lending process. We streamline documentation and keep the timeline tight.
Owner-operators at quarries and aggregate operations: the financing structure for a three-truck aggregate fleet at a crushed-stone quarry looks different from a large mine, but the need for speed and practicality is the same. We serve both.
Companies looking atopen-pit mining equipment financingacross multiple asset classes often start with haul trucks because truck count drives so much of the tonnage math. We can package a haul truck line alongside other equipment credit if your build-out needs it.
Refinancing and Sale-Leaseback on Haul Trucks
Haul trucks that are paid off or carry low balances relative to current market value represent idle equity. Asale-leaseback financingstructure lets you convert that equity to operating capital while keeping the truck in service. The mine sells the truck to us, we lease it back, and you walk away with cash that can fund parts inventory, training, or the next piece of capital equipment.
Refinancing an existing note to extend the term, reduce the payment, or pull cash out is another structure we handle. If you financed a truck two years ago at a rate that no longer serves you, or if your balance has dropped enough that a cash-out refinance makes sense, we can restructure the deal.Cash-out equipment refinanceon mining iron has funded everything from drill programs to crew housing to working capital gaps during low-production periods.