Yes, you can sell equipment with a loan on it
A lot of owners assume they're stuck with a machine until it's paid off. They're not. Core Asset Group regularly buys skid steers, excavators, loaders, trucks and other equipment from sellers who still owe on it. If a monthly payment is going out on a machine that isn't earning, selling it can free up cash flow and get the payment off your books.
When you reach out, the main thing we'll ask is simple: do you own the machine outright, or do you still owe on it? If you owe, tell us roughly how much and who the lender is. That's enough for us to get started.
How a sale with a payoff typically works
- Send the details. Make, model, year, hours or miles, location, photos, and the approximate amount you still owe.
- Get our offer. Offers are based on recent auction comps for the same machine, adjusted for condition. The offer is the same whether or not there's a loan.
- Get a payoff amount. You request a payoff quote from your lender, and we review it with you.
- Close the sale. We walk you through exactly how the payoff and payment are handled for your situation. In a typical deal, the loan is paid off as part of the sale and any amount above the payoff goes to you.
- We pick it up. We haul the machine, running or not, within about 800 miles of Denver.
What if I owe more than it's worth?
It happens, especially with newer machines bought at peak prices. If the payoff is higher than our offer, tell us up front. We'll be straight with you about the numbers so you can decide whether selling still makes sense, for example to stop the monthly payment and insurance on an idle machine.
What we buy, with or without a loan
We buy equipment and trucks 12 years old and newer, running or not:
- Skid steers and compact track loaders
- Excavators and mini excavators
- Wheel loaders, backhoes, dozers and telehandlers
- Work trucks and dump trucks
- Other heavy equipment
Why owners with a loan sell to us
Many private buyers walk away when they hear there's a loan, and a dealer trade-in may not be an option if you aren't buying something new. We're used to it. You get one offer, a clear explanation of how the payoff fits in, and pickup handled by us. We're a Denver-based mobile buyer, so we come to the machine anywhere in Colorado, Wyoming, Nebraska, Kansas, Utah and New Mexico.
Fill out the form below, or call or text (720) 216-7366 or (720) 862-5205. You can also email CoreassetgroupLLC@gmail.com.