Skid Steer and Compact Track Loader Financing Guide

If there's one piece of construction equipment that lives on more jobsites than any other, it's the skid steer. Landscapers, excavating contractors, concrete crews, demolition operations, utility installers, and agricultural operations all run them. They're versatile, relatively affordable, and the attachment ecosystem makes them useful for an enormous range of work.

Which also means there's no shortage of lenders who've financed them — and an active enough secondary market that collateral risk is well-understood across the industry.

Nikki Torres runs a landscaping and site prep company in suburban Texas. She's on her fourth skid steer and second compact track loader. Here's her hard-won perspective on what financing these machines actually looks like — and what she'd tell herself from year one.

Skid Steer vs. Compact Track Loader: Does the Machine Type Affect Financing?

Slightly — but not dramatically.

Skid steers (wheeled) are lower purchase price for equivalent horsepower, operate better on hard surfaces, and are slightly simpler mechanically. Bobcat S-Series, Caterpillar 232/240 series, Case SR series, New Holland L series, Kubota SSV. Price range for new: $40,000–$75,000 depending on size and configuration.

Compact track loaders (CTLs) are the dominant machine type in markets with soft or unstable ground — landscaping, utilities, southern regions with clay soils. Bobcat T-Series, Caterpillar 259D3, John Deere 335G, Kubota SVL — same work scope as a skid steer but with superior flotation. Price range: $55,000–$130,000, with larger machines (Caterpillar 299D3, Bobcat T870) at the top end.

For financing, lenders treat them identically — both have excellent secondary markets, both are well-understood collateral. CTLs carry slightly higher loan amounts and slightly longer terms at the top of the size range, but the underwriting logic is the same.

The Attachment Question

This is the issue Nikki didn't fully understand on her first machine: can you finance attachments, and should you?

Yes, you can finance attachments as part of the machine purchase. A bucket, auger, hydraulic breaker, grapple, or trencher attachment purchased with the machine and on the same dealer invoice can be financed as part of the total package. The attachment is co-secured by the overall loan — there's no issue adding $8,000–$15,000 in attachments to a $65,000 skid steer purchase.

Separately purchased attachments after the original loan are harder. Standalone attachment financing for $3,000–$12,000 accessories is typically a business credit card or small business line of credit transaction. Most equipment lenders won't set up a separate note for a single bucket or auger — the transaction costs don't make sense for them.

Nikki's advice: buy your most-needed attachments at the time of machine purchase, put them on the original finance package, and budget clearly for any you need later through a different mechanism.

Dealer Programs vs. Independent Lenders: The Skid Steer Edition

The OEM finance programs (Bobcat Financial, Cat Financial, John Deere Financial) are competitive and aggressively marketed for skid steers and CTLs. 0% for 12 or 24 months, reduced rate programs, and "apply in minutes" at the dealer counter are all common.

For a $65,000 skid steer, the math is straightforward enough to run:

Dealer 0% for 24 months / 9.99% for remaining 48 months:

• Months 1–24: $0 interest on ~$65,000 principal
• Months 25–72: ~$41,000 remaining balance at 9.99%
• Interest in months 25–72: approximately $11,800

Independent lender at 7.5% fixed for 60 months:

• Total interest: approximately $13,100

In this case, the dealer promotion is actually better — the 24-month 0% period saves enough to offset the higher rate on the back end. But this math depends entirely on your cash position. If you're making the minimum payment in months 1–24 and not paying down principal aggressively, you're not fully capturing the 0% benefit. If you can make extra principal payments during the promotional period, the dealer program wins clearly.

If you're not going to make extra payments (most small contractors don't — cash is tight), an independent lender at a fixed rate for the full term is simpler and often comparable in total cost.

2026 Rate Ranges

Strong borrowers (700+ FICO, 3+ years):

• New skid steers and CTLs from major OEMs: 6.5%–9.5%
• Used (5 years or newer): 8.5%–12%
• Used (6–10 years, well-maintained): 10%–14%

Mid-tier (640–700, 2+ years):

• New: 9.5%–13.5%
• Used: 11%–16%

New contractors (under 2 years): Doable with a strong personal credit score (680+) and/or down payment. Expect rates of 12%–18% and potentially a requirement to personally guarantee the note. A used machine with a smaller loan amount often makes more sense as a first machine.

Terms: New: 48–72 months. Used: 36–60 months.

Used Skid Steers: The Real Value Play

Nikki's most financially sound machine purchase was her third — a 2019 Bobcat T650 with 1,800 hours at $38,000 from a dealer who took it in trade. Same machine she would have paid $69,000 for new. Well within an age and hours range that most lenders finance without drama.

The skid steer and CTL used market is liquid enough that you don't need to be afraid of used equipment. Bobcat, Caterpillar, and Deere machines with under 2,500 hours and documented service are routinely financed on 48-month terms.

What to watch on used CTLs specifically: undercarriage wear. The tracks, rollers, idlers, and sprockets are the high-cost maintenance items and the thing that separates a $38,000 deal from a $38,000 deal-that-becomes-a-$48,000-deal six months later. A pre-purchase undercarriage inspection is $200 well spent.

Nikki's Current Machine

Her current setup: a 2024 Caterpillar 299D3 XE compact track loader (high-flow hydraulics, enclosed cab, 2-speed) with a 96" bucket, 4-in-1 bucket, and hydraulic auger package. Total financed: $94,000.

Profile: 8 years in business, $1.4 million revenue, 708 FICO, two prior equipment loans paid clean.

Terms: $94,000 at 8.0% over 60 months.

Monthly payment: $1,907

She uses the machine on every project. At 8 billable hours per day, 20 days per month, and a $125/hour machine rate (included in project pricing), the machine generates $20,000/month in billing contribution. The payment is less than 10% of that.

Use the equipment loan calculator to model your skid steer or CTL at your quote. Get a quote — these are fast-approval applications for established contractors with a solid payment history.