Rework the terms on equipment you already own.
Equipment refinancing replaces or restructures financing on equipment you already own. Nex models the current payout against a proposed rate, term, payment, fees, and any eligible cash-out so you can see whether changing facilities is worthwhile.
File / current
Payout, payment, rate, and remaining term
Model / proposed
Payment, total cost, fees, and cash-out
Control / consent
Your credit is only checked when you send your application to the lender you choose.
Why refinance?
Seven reasons operators refinance equipment
Each reason changes the comparison. Model the payout, proposed payment, total cost, and flexibility together.
01
Lower your rate
Financing arranged under different market or business conditions may be worth repricing, after fees and payout costs are included.
02
Better terms
Shorter or longer amortization, different payment dates, seasonal structures — terms that fit how the business runs today.
03
Improve cash flow
A longer remaining amortization can reduce the scheduled payment, while increasing total financing cost if the balance stays outstanding longer.
04
Consolidate payments
Multiple trucks, multiple facilities, multiple debits. Refinance into a single facility with one payment and one schedule.
05
Leverage equipment equity
Paid-down assets are stored capital. Refinancing releases it while the equipment keeps working in your operation.
06
Generate working capital
Compare eligible cash-out proceeds and total refinance cost against other working-capital options.
07
Exit a lending relationship
Outgrown a lender, or tired of their terms? A refinance pays them out cleanly and moves the file to a better fit.
*Accounting and tax outcomes vary by structure and jurisdiction. Confirm with your accountant.
In practice
What does an equipment refinance look like?
Equipment refinance can change a payment schedule, consolidate eligible obligations, or release supported equity under a new facility.
01
Cash-flow squeeze
Lower the monthly payment
Extend the remaining term to reduce the scheduled payment, then compare that relief against the total cost and any prepayment terms.
02
Rate compression
Replace high-rate financing
Compare a replacement facility against the current rate, payout cost, remaining term, and total scheduled interest.
03
Consolidation
Roll multiple payments into one
Multiple units across multiple lenders become a single facility — one payment, one schedule, one point of contact.
04
Equity cash-out
Pull capital out of equipment
Model appraised value, the existing payout, fees, and the proposed facility to see whether net working-capital proceeds remain.
FAQ
Equipment refinance, answered.
Will refinancing my equipment loan hurt my credit?
Your credit is only checked when you send your application to the lender you choose. That step occurs during underwriting for a proposed replacement facility, and the result varies by applicant and credit bureau.
Are there prepayment penalties on my existing loan?
The current contract may include a prepayment fee or other payout conditions. Nex uses the lender’s payout statement in the comparison so those costs are visible before you decide.
How quickly can an equipment refinance close?
Timing depends on the existing lender’s payout statement, equipment valuation, lien review, documentation, and underwriting. Nex confirms the expected sequence after reviewing the initial refinance brief.
Can I take cash out when I refinance?
Eligible cash-out may be available when appraised value exceeds the current payout and the proposed structure supports additional proceeds. The amount depends on asset value, liens, fees, and underwriting.
Start an equipment refinance review.
Start with an initial refinance brief covering the existing facility, equipment, and goal. After Nex receives the brief, you can optionally add articles of incorporation, government-issued ID, three months of business bank statements, and a bill of sale or equipment quote.
Apply for refinance