Equipment Financing Up to 10 Years Old: Complete Policy Guide Malaysia

Looking to finance used equipment but worried about age restrictions? Good news: we finance all equipment types up to 10 years old with competitive rates and 0% deposit options available.

This comprehensive guide explains our age policy, valuation process, and approval requirements for excavators, lorries, forklifts, prime movers, bulldozers, and all other equipment types.

Understanding the 10-Year Age Policy

What “Up to 10 Years Old” Means

Age calculation method:

• Count from year of manufacture (not purchase year)
• Example: In 2026, we finance equipment manufactured in 2016 or newer
• 2015 model = 11 years old = not eligible
• 2016 model = 10 years old = eligible
• 2020 model = 6 years old = eligible

Maximum age at time of application: 10 years

Why 10 years maximum?

• Equipment retains sufficient resale value
• Remaining useful life supports loan tenure
• Parts and service still widely available
• Lower risk of major breakdowns during loan term

Equipment Types Covered

All equipment types accepted up to 10 years old:

Construction Equipment:

• Excavators (mini, medium, large)
• Bulldozers (all sizes)
• Wheel loaders
• Backhoe loaders
• Cranes (mobile, tower)
• Road rollers
• Graders

Material Handling:

• Forklifts (diesel, electric, LPG)
• Reach trucks
• Pallet jacks (powered)
• Container handlers

Transportation:

• Prime movers (tractors)
• Lorries (rigid trucks)
• Refrigerated trucks
• Dump trucks
• Tipper trucks
• Box trucks

Specialized Equipment:

• Concrete pumps
• Concrete mixers
• Generator sets
• Air compressors
• Specialized attachments

No restrictions by equipment type - only by age!

Equipment Financing by Age: What to Expect

Age 0-3 Years (Near-New)

Age range: Manufactured within last 3 years Market classification: Near-new or certified pre-owned

Financing terms:

• Deposit: 0-10% (excellent credit can get 0%)
• Interest rate: 6-8% per year
• Loan tenure: Up to 60 months (5 years)
• Approval rate: High approval rate for good credit

Advantages:

• Lowest interest rates
• Highest loan-to-value ratio
• Fastest approval
• Similar terms to brand-new equipment

Example: 2023 Caterpillar 320 excavator

• Age: 3 years
• Market value: RM 400,000
• Loan amount: RM 360,000-400,000 (90-100%)
• Monthly payment (60 months, 7%): RM 7,129-7,921

Age 4-6 Years (Mid-Life)

Age range: Manufactured 4-6 years ago Market classification: Used equipment in prime years

Financing terms:

• Deposit: 10-20%
• Interest rate: 7-9% per year
• Loan tenure: Up to 48 months (4 years)
• Approval rate: 90%+ for good credit

Considerations:

• Still excellent working condition
• Good parts availability
• Proven reliability track record
• Lower purchase price than newer models

Example: 2020 Hino 700 prime mover

• Age: 6 years
• Market value: RM 180,000
• Loan amount: RM 144,000-162,000 (80-90%)
• Monthly payment (48 months, 8%): RM 3,520-3,960

Age 7-10 Years (Mature Equipment)

Age range: Manufactured 7-10 years ago Market classification: Older used equipment

Financing terms:

• Deposit: 20-30%
• Interest rate: 8-12% per year
• Loan tenure: Up to 36 months (3 years)
• Approval rate: 85%+ for good credit

Requirements:

• Professional inspection usually required
• Service records strongly recommended
• Proof of recent maintenance
• Photos of current condition

Example: 2016 Toyota forklift 3-ton

• Age: 10 years
• Market value: RM 45,000
• Loan amount: RM 31,500-36,000 (70-80%)
• Monthly payment (36 months, 10%): RM 1,017-1,163

Age 11+ Years (Not Eligible)

Equipment older than 10 years:

• ❌ Not eligible for financing
• Reason: Resale value too low
• Reason: Higher breakdown risk
• Reason: Parts may be discontinued

Alternatives if your equipment is too old:

• Trade-in for newer model (within 10 years)
• Pay cash for equipment
• Consider leasing newer model
• Finance different asset

How We Value Older Equipment

Valuation Factors

1. Year of Manufacture

• Primary factor determining value
• Older = higher depreciation
• 10-year-old equipment worth 25-40% of original price

2. Equipment Condition

• Excellent: Minimal wear, well-maintained
• Good: Normal wear, functional
• Fair: Higher wear, some repairs needed
• Poor: Significant wear, major repairs needed

3. Brand Reputation

• Tier 1 brands (Caterpillar, Komatsu, Hitachi, Toyota, Hino):

  • Retain 30-50% value after 10 years
  • Easier financing approval
  • Better resale prospects

• Tier 2 brands (Doosan, Kobelco, SANY, Isuzu):

  • Retain 25-40% value after 10 years
  • Good financing terms
  • Acceptable resale market

• Tier 3 brands (Lesser-known Chinese brands):

  • Retain 20-30% value after 10 years
  • Higher deposit required
  • Limited resale market

4. Operating Hours / Mileage

Excavators:

• Under 5,000 hours = Excellent
• 5,000-10,000 hours = Good
• 10,000-15,000 hours = Fair
• Over 15,000 hours = Requires thorough inspection

Lorries/Prime Movers:

• Under 300,000 km = Excellent
• 300,000-600,000 km = Good
• 600,000-900,000 km = Fair
• Over 900,000 km = Higher risk

Forklifts:

• Under 8,000 hours = Excellent
• 8,000-15,000 hours = Good
• 15,000-20,000 hours = Fair
• Over 20,000 hours = Requires inspection

5. Service History

• Complete maintenance records = Higher valuation
• Regular servicing at authorized centers = Better
• Recent major overhaul = Positive factor
• No service records = Lower valuation

6. Market Demand

• High demand equipment (excavators, forklifts) = Better terms
• Specialized equipment = Case-by-case assessment
• Seasonal demand fluctuations considered

Inspection Process for 7-10 Year Equipment

When required:

• Equipment aged 7-10 years
• High loan amount (over RM 100,000)
• Equipment with no service records
• Equipment from unknown brands

Inspection covers:

• Engine condition and performance
• Hydraulic systems (excavators, forklifts)
• Structural integrity (frame, boom, chassis)
• Electrical systems
• Tire/track condition
• Safety features functionality
• Oil leaks or damage
• Hour meter / odometer verification

Inspector provides:

• Detailed condition report
• Photos of equipment (all angles)
• Estimated remaining useful life
• Recommended repairs (if any)
• Market valuation

Cost: RM 200-500 (paid by applicant, refunded if approved)

Timeline: 1-2 days to arrange and complete

0% Deposit Policy for Used Equipment

Is 0% Deposit Available?

Yes, but with qualifications:

0% deposit possible for:

• Equipment aged 0-5 years
• Excellent credit score (750+ CTOS)
• Established business (3+ years)
• Strong financial statements
• Tier 1 brand equipment

Equipment aged 6-10 years:

• Minimum 10-20% deposit typically required
• 0% deposit very rare (exceptional credit needed)
• Higher deposit improves approval rate

Realistic Deposit Expectations

By equipment age:

Equipment Age	Typical Deposit	0% Deposit?
0-3 years	0-10%	Yes, if excellent credit
4-6 years	10-20%	Rare, exceptional cases only
7-10 years	20-30%	Not available

Example scenarios:

Scenario 1: 2-year-old excavator, excellent credit

• Equipment value: RM 500,000
• Deposit: 0% (RM 0)
• Loan amount: RM 500,000
• Terms: 60 months, 7% interest
• 100% financing approved

Scenario 2: 6-year-old prime mover, good credit

• Equipment value: RM 200,000
• Deposit: 15% (RM 30,000)
• Loan amount: RM 170,000
• Terms: 48 months, 8.5% interest
• 85% financing approved

Scenario 3: 10-year-old forklift, average credit

• Equipment value: RM 50,000
• Deposit: 30% (RM 15,000)
• Loan amount: RM 35,000
• Terms: 36 months, 11% interest
• 70% financing approved

Required Documentation for Used Equipment

Standard Documents (All Ages)

Business Documents:

• SSM registration (within 3 months)
• Business license (if applicable)
• Company profile or brochure
• Director/owner IC copy
• Business bank statements (6 months)

Financial Documents:

• Financial statements (last 2 years) OR
• Management accounts (if under 2 years)
• Personal income proof
• Tax returns (if available)
• List of existing equipment

Equipment Documents:

• Detailed quotation from seller
• Equipment specifications sheet
• Photos (all angles, serial number visible)
• Current registration (for vehicles)

Additional Documents for Older Equipment (7-10 Years)

Condition Documentation:

• Service records (if available)
• Maintenance logbook
• Recent service invoices
• Parts replacement records
• Hour meter / odometer photos

Ownership Verification:

• Original registration card (vehicles)
• Seller’s IC copy
• Proof of ownership (receipt, invoice)
• No outstanding HP/loan verification
• Transfer documents (if applicable)

Technical Information:

• Serial number / engine number verification
• Manufacturing year proof
• Import approval (if imported)
• Roadworthy certificate (vehicles)

Optional But Helpful Documents

Boost your approval chances:

• Pre-approved inspection report
• Independent valuation report
• Video of equipment in operation
• Recent project contracts showing equipment need
• Insurance quotation (comprehensive)
• Dealer certification (if from dealer)

Approval Process Timeline

Standard Process (Age 0-6 Years)

Day 1: Application submission

• Submit all documents via WhatsApp, email, or in-person
• Initial document review (1-2 hours)
• Preliminary credit check

Day 2: Credit evaluation

• CCRIS/CTOS credit report
• Financial analysis
• Equipment valuation (desk-based)
• Business verification

Day 3: Approval decision

• Management review
• Terms finalization
• Approval letter issued

Total timeline: 2-3 business days

Extended Process (Age 7-10 Years)

Day 1-2: Initial assessment

• Document submission
• Credit checks
• Preliminary approval

Day 3-4: Equipment inspection

• Schedule inspection appointment
• Inspector visits seller’s location
• Condition report prepared
• Photos and documentation

Day 5-6: Final approval

• Review inspection findings
• Adjust terms if needed
• Issue final approval
• Prepare documentation

Total timeline: 5-7 business days

Inspection adds 2-3 days but improves approval rate!

Fast Approval Tips for Used Equipment

Before Applying

1. Verify equipment eligibility

• Calculate exact age (current year - manufacturing year)
• Confirm it’s within 10-year limit
• Check if inspection will be needed

2. Gather service records

• Request from previous owner
• Obtain from authorized service centers
• Compile maintenance receipts
• Increases valuation by 5-10%

3. Take quality photos

• All angles (front, back, sides, top)
• Serial number plate (clearly visible)
• Hour meter / odometer reading
• Any damage or wear areas
• Equipment in clean condition

4. Get independent inspection

• Hire your own mechanic to inspect
• Address any issues before applying
• Pre-inspection report strengthens application
• Shows transparency and confidence

During Application

1. Be transparent about equipment condition

• Disclose known issues upfront
• Don’t hide problems (inspection will find them)
• Explain recent repairs or upgrades
• Honesty builds trust

2. Provide complete service history

• Even partial records help
• Show regular maintenance pattern
• Highlight recent major service
• Demonstrates proper care

3. Explain why you chose this equipment

• Specific project needs
• Brand preference reasons
• Cost-effectiveness analysis
• Shows informed decision-making

4. Demonstrate equipment need

• Current project contracts
• Business expansion plans
• Revenue projections with equipment
• Proves genuine business purpose

Expert Tips for 7-10 Year Equipment

Tip 1: Get seller cooperation

• Ask seller to provide all records
• Request seller to be available for inspector
• Seller transparency speeds approval
• Consider dealer-sold units (better documentation)

Tip 2: Offer higher deposit if borderline

• 25% instead of 20% deposit
• Reduces lender risk
• Improves interest rate offered
• Increases approval probability

Tip 3: Apply for realistic loan amount

• Don’t request 100% for 10-year equipment
• Conservative loan amount = faster approval
• Leave buffer for unexpected valuation results

Tip 4: Time your application strategically

• Apply after major service completed
• Wait if equipment needs repairs
• Best time: Right after annual inspection passed
• Avoid applying when equipment broken down

Interest Rates by Equipment Age

Rate Structure

Age 0-3 years:

• Interest rate: 6-8% per year
• Comparable to new equipment rates
• Lowest risk category

Age 4-6 years:

• Interest rate: 7-9% per year
• Moderate risk category
• Still competitive rates

Age 7-10 years:

• Interest rate: 8-12% per year
• Higher risk category
• Rate depends heavily on condition

Example Monthly Payments

RM 100,000 loan at different ages/rates:

Age	Rate	36 months	48 months	60 months
0-3 years	7%	RM 3,088	RM 2,395	RM 1,980
4-6 years	8.5%	RM 3,147	RM 2,461	RM 2,053
7-10 years	11%	RM 3,290	RM 2,599	RM 2,212

Total interest paid:

Age	Rate	36 months	48 months	60 months
0-3 years	7%	RM 11,168	RM 14,960	RM 18,800
4-6 years	8.5%	RM 13,292	RM 18,128	RM 23,180
7-10 years	11%	RM 18,440	RM 24,752	RM 32,720

Takeaway: Shorter tenures save significant interest, especially for older equipment.

Equipment-Specific Age Policies

Excavators (All Sizes)

Maximum age: 10 years Preferred brands: Caterpillar, Komatsu, Hitachi, Kobelco, Doosan Critical factors: Operating hours, hydraulic condition, track wear

Finance details:

• Age 0-5 years: 10-20% deposit
• Age 6-10 years: 20-30% deposit
• Inspection required: Yes (if over 7 years)

Learn more: Excavator Financing Guide

Lorries (Rigid Trucks)

Maximum age: 10 years Preferred brands: Hino, Isuzu, Nissan UD, Fuso Critical factors: Mileage, engine condition, cargo body condition

Finance details:

• Age 0-5 years: 10-20% deposit
• Age 6-10 years: 20-30% deposit
• Inspection required: Yes (if over 8 years or high mileage)

Learn more: Lorry Financing Guide

Forklifts (All Types)

Maximum age: 10 years Preferred brands: Toyota, Mitsubishi, Komatsu, Nissan Critical factors: Operating hours, mast condition, battery life (electric)

Finance details:

• Age 0-6 years: 10-20% deposit
• Age 7-10 years: 20-30% deposit
• Inspection required: Yes (if over 8 years)

Learn more: Forklift Financing Guide

Prime Movers (Tractors)

Maximum age: 10 years Preferred brands: Scania, Volvo, Mercedes, MAN, Hino Critical factors: Mileage, engine hours, maintenance records

Finance details:

• Age 0-5 years: 10-20% deposit
• Age 6-10 years: 20-30% deposit
• Inspection required: Yes (if over 7 years)

Learn more: Prime Mover Financing Guide

Bulldozers

Maximum age: 10 years Preferred brands: Caterpillar, Komatsu, Shantui Critical factors: Track hours, blade condition, transmission health

Finance details:

• Age 0-5 years: 10-20% deposit
• Age 6-10 years: 25-35% deposit
• Inspection required: Always (specialized equipment)

Learn more: Bulldozer Financing Guide

Common Questions About Equipment Age

Why not finance equipment over 10 years old?

Risk factors increase significantly:

• Resale value drops below 20% of original
• Parts availability becomes problematic
• Major component failures more likely
• Insurance costs rise substantially
• Remaining useful life uncertain

Loan security concerns:

• Equipment value may not cover loan balance
• If repossessed, resale difficult
• Higher default rates on very old equipment

Better alternatives:

• Finance newer used equipment (5-8 years)
• Trade-in very old equipment
• Cash purchase for equipment over 10 years

Can age limit be waived for specialty equipment?

Rarely, case-by-case evaluation:

Possible exceptions:

• Very expensive equipment (RM 1M+) from premium brands
• Excellent maintenance records and low hours
• Recent major overhaul or refurbishment
• Unique equipment hard to replace
• Applicant has exceptional credit

Example: 12-year-old Caterpillar D9 bulldozer worth RM 800,000, only 3,000 operating hours, complete service records, recent engine rebuild.

Result: May be considered with 40-50% deposit

Contact us to discuss specialty cases

Does equipment age affect loan tenure?

Yes, inversely related:

General rule: Loan tenure ≤ Remaining useful life

Age 0-3 years:

• Loan tenure: Up to 60 months (5 years)
• Reasoning: 15+ years useful life remaining

Age 4-6 years:

• Loan tenure: Up to 48 months (4 years)
• Reasoning: 10-15 years useful life remaining

Age 7-10 years:

• Loan tenure: Up to 36 months (3 years)
• Reasoning: 5-10 years useful life remaining

Why it matters:

• Protects lender from equipment becoming worthless
• Ensures equipment still valuable at loan end
• Aligns repayment with equipment lifecycle

Can I refinance old equipment I already own?

Not typically for equipment over 10 years:

Refinancing requirements:

• Equipment must be within 10-year age limit
• You must have significant equity (50%+ paid)
• Equipment in excellent condition
• Good credit and payment history

Example refinancing scenario:

• 6-year-old excavator
• Original purchase: RM 600,000
• Current value: RM 350,000
• Outstanding loan: RM 100,000
• Equity: RM 250,000
• Can refinance up to RM 245,000 (70% of value)
• Use RM 100,000 to clear old loan
• Cash out RM 145,000 for business use

Not available for equipment over 10 years old

Frequently Asked Questions

Can I finance equipment that is exactly 10 years old?

Yes, equipment that is exactly 10 years old (calculated from manufacturing year) is eligible for financing. For example, in 2026, equipment manufactured in 2016 is eligible. Equipment from 2015 or earlier is not eligible.

Is 0% deposit available for 10-year-old equipment?

No, 0% deposit is not available for equipment aged 10 years. Equipment in this age range typically requires 20-30% deposit. 0% deposit is only possible for equipment aged 0-3 years with excellent credit and established business.

How do you calculate equipment age?

We calculate age from the year of manufacture, not purchase year. Formula: Current year minus manufacturing year equals equipment age. Manufacturing year is found on serial number plate or registration documents.

What happens if equipment fails inspection?

If inspection reveals significant issues, we may: (1) Reduce approved loan amount to match lower valuation, (2) Require higher deposit, (3) Request repairs before approval, or (4) Decline application if equipment value is too low. You can choose to repair and reapply.

Do all equipment types have same 10-year limit?

Yes, the 10-year age limit applies to all equipment types including excavators, lorries, forklifts, prime movers, bulldozers, cranes, and all others. No exceptions by equipment type - only by age.

Can I get better terms with comprehensive service records?

Yes! Complete service records can improve: (1) Equipment valuation by 5-10%, (2) Approval probability, (3) Potential deposit reduction, and (4) Faster approval process. Always provide maintenance records if available.

Why Choose Ing Heng Credit for Used Equipment Financing

40 Years of Experience

Since 1985, we have been Malaysia’s trusted equipment financing specialist.

Our advantages:

• Deep understanding of equipment values
• Expertise in all equipment types
• Realistic age policies (up to 10 years)
• Professional inspection network
• Fast approvals even for older equipment

Competitive Terms for Used Equipment

What we offer:

• 0% deposit for qualifying equipment and credit
• Finance equipment up to 10 years old
• Flexible deposit options (10-30%)
• Competitive interest rates (7.5-12%)
• Tenures up to 60 months (newer equipment)

Transparent Valuation Process

No surprises:

• Clear age calculation method
• Detailed valuation factors explained
• Professional inspection process
• Written inspection reports provided
• Fair market value assessments

Fast Approval Process

Typical timelines:

• Standard equipment (0-6 years): 2-3 business days
• Older equipment (7-10 years): 5-7 business days
• Much faster than banks (2-4 weeks)
• WhatsApp updates throughout process

Ready to Finance Your Used Equipment?

Whether your equipment is 1 year old or 10 years old, we can help you get financing.

Quick Start (5 Minutes)

1. Verify your equipment is eligible:

• Calculate age: 2026 minus manufacturing year
• If 10 years or less, you qualify!

2. Contact us for instant assessment:

• WhatsApp: +60 17-570 0889
• Send: Equipment photos + manufacturing year
• We respond within 1 hour

3. Prepare your documents:

• Business registration
• Financial statements
• Equipment details and photos
• Service records (if available)

4. Receive fast approval:

• 2-7 days depending on equipment age
• Clear terms and conditions
• Competitive interest rates
• Flexible deposit options

Get Started Today

Contact Ing Heng Credit for equipment financing:

WhatsApp: +60 17-570 0889 (Fastest response) Phone: +603-3362 1588 Email: info@inghengcredit.com Office: 47A, Jalan Raya Timur, Taman Rashna, 41200 Klang, Selangor

Operating Hours:

• Monday-Friday: 9AM-6PM
• Saturday: 9AM-1PM
• Sunday: Closed

What to expect:

• Friendly, professional service
• Clear explanations of age policies
• Realistic financing options
• No pressure sales tactics
• Solutions for most equipment types and ages

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About Ing Heng Credit & Leasing:

Malaysia’s trusted equipment financing specialist since 1985. We have helped over 4,000+ contractors, logistics companies, and manufacturers finance the equipment they need - including used equipment up to 10 years old.

Published: January 20, 2026 Category: Equipment Financing Target Audience: Buyers of used equipment across all industries Primary Keyword: equipment financing up to 10 years old Reading Time: 9 minutes