equipment financing for auto repair & service
Equipment Financing for Auto Repair & Service businesses. Built for auto repair & service cash flow.
Finance the trucks, machines, refrigeration, diagnostic gear, or production equipment your business runs on. The equipment itself serves as collateral, which unlocks longer terms and lower rates than unsecured working capital.
- Max funding
- $1M
- Term
- 2–7 years
- Time to fund
- 24 hours
- Min FICO
- 500+
The short answer
Is Equipment the right fit for Auto Repair & Service businesses?
Finance lifts, diagnostic scanners, alignment machines, and shop equipment with the tools as collateral.
Last updated 2026-06-24
Why this fit
Common cash-flow gaps in auto repair & service. Equipment Financing maps to the ones below.
These are the underwriting realities and operational pressures we see most often in this industry.
Diagnostic Equipment Costs
Modern vehicles require sophisticated diagnostic tools that cost $10K–$50K per unit. Falling behind on technology means losing customers to shops that invested.
Bay Expansion
More bays mean more throughput. But construction, lifts, and equipment for a new bay is a $50K–$150K investment that most banks won't fund for a small shop.
Parts Inventory Float
Carrying a parts inventory ties up cash. Seasonal demand spikes (winter tires, AC season) require stocking up before the revenue arrives.
Representative scenario
What a typical auto repair & service equipment financing looks like. Numbers below are illustrative.
Your actual offer depends on your bank statement history, time in business, credit profile, and existing debt.
Rates vary by applicant. Representative example only.
Qualification
What we look for in auto repair & service files. Underwriting, in plain language.
- Minimum 6 months operating as a licensed auto repair shop
- $15,000+ monthly revenue
- 500+ personal credit score
- Active business bank account
Other ICG products for auto repair & service
Not the right fit? Here is what else works in your industry.
Common questions
Equipment Financing for auto repair & service. Honest answers, no fine print games.
QDo you fund collision shops and mechanical shops equally?
Yes. Both qualify under the same guidelines. Collision shops with DRP (direct repair program) contracts often benefit from invoice factoring on top of working capital.
QCan I finance a used lift?
Yes. ICG finances new and used equipment. Used lifts under 10 years old with documented hours are routinely approved.
QWhat if I fail my state inspection license renewal?
You must maintain a valid state auto-repair license for the duration of your funding. Let your specialist know immediately if your license lapses.
QDo I have to buy the equipment from a specific dealer?
No. ICG finances equipment from any reputable dealer, auction, or private seller with a documented invoice or appraisal. New and used equipment both qualify.
QIs a down payment required?
Typically 0–20% down, depending on the equipment type, age, and your credit profile. Many applicants qualify for $0-down financing on new equipment.
QCan I finance used equipment?
Yes. Used equipment under 10 years old with documented hours or mileage is routinely approved. An appraisal may be required for specialty items.
Equipment Financing for other industries
Where else this works. One product, many verticals.
Ready when you are
Ready to fund your auto repair & service business? 24 hours to fund.
Quick application. Soft credit pull only. Real human review.