How can I get equipment financing for a new lift in my auto repair shop?

Review the cited answer and prepare the questions you want to ask. Use the checklist to organize the details you need to confirm before applying.

Checked against our editorial standards · Last updated 12/11/2026

Short answer

A 2‑post alignment lift installed in an auto repair shop costs between $18,000 and $35,000, and equipment financing for such lifts typically carries APRs of 7% to 12%.

A 2‑post alignment lift installed in an auto repair shop costs between $18,000 and $35,000, and equipment financing for such lifts typically carries APRs of 7% to 12% (towersassetgroup.com).

Understand loan options

Auto repair shops can obtain equipment loans of $10,000 to $500,000 over 36 to 60 months at rates of about 8% to 16%, covering up to 100% of the invoice including installation (ranfunding.com).

SBA 7(a) loans can finance equipment purchases for auto repair shops with competitive rates currently between 11.5% and 14.5% and require a minimum down payment of 10% (dealport.com).

Ask each lender to list the required documentation and note where to submit them.

Review What Are Auto Repair Shop Equipment Loans and How Do I Qualify? while preparing questions for the lender.

Compare terms and down payments

For borrowers with excellent credit (720+), equipment financing APRs range from 6.9% to 9.9% with terms of 60 to 84 months and down payments of 0% to 10% (fundmyequipment.com).

Financing for lifts and other shop equipment is offered at 6% to 12% APR over 36 to 72 month terms, with down payments ranging from 0% to 20% for borrowers with FICO scores of 600 or higher (axiantpartners.com).

A four‑post lift typically costs $4,000 to $15,000, and equipment financing for such lifts is available at APRs of 4% to 10% (nautixcapital.com).

Create a table of APR ranges, term lengths, and down‑payment percentages for each option.

Review Brake Repair Financing | Safe Options while preparing questions for the lender.

Prepare collateral and guarantees

Equipment financing may require a personal guarantee but uses the purchased equipment as collateral, distinguishing it from unsecured business loans (equinox-funding.com).

Equipment loans for hydraulic lifts can provide up to $5 million per piece of equipment, with interest rates starting at 3.5% and loan terms between 1 and 6 years (unitedcapitalsource.com).

Confirm whether a personal guarantee is needed and record the equipment used as collateral.

Additional questions

What financing options are available for other shop equipment?

Independent auto repair shops often combine equipment financing, SBA loans, and lines of credit to fund lifts and other capital equipment (smbcompass.com).

How quickly can funds be disbursed?

Equipment financing for lifts, alignment machines, and scan tools generally carries APRs of 6% to 12% and funds the loan in 3 to 7 days (businesscashguide.com).

Disclosures

This content is for educational purposes only and is not financial advice. autorepair-financing.com may receive compensation from partner lenders, which may influence which products are featured.

Sources

Estimate your monthly loan payment

Estimated monthly payment: $1,575.14
Total interest over the term: $19,508
Total of payments: $94,508

Standard amortizing-loan (PMT) formula. Estimate only — your rate, term, and fees depend on credit and the lender.

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