MRI machine finance is the largest-ticket medical equipment category we route. New 1.5T systems run $900,000 to $1.6M depending on coil configuration, software packages, and installation requirements. New 3T systems run $1.6M to $2.4M+. Our partner network for MRI is specialized, with imaging-center programs and hospital-affiliated programs serving different buyer profiles.
The structural variable that dominates MRI finance is the integration package. The MRI itself is roughly two-thirds of the total deal. The remaining third is shielding, magnet siting, cryogen infrastructure, helium fill, software licensing, and operator training. Lender programs differ on what gets bundled into the financed amount, which is the single biggest factor in whether the buyer pays substantial cash up front or rolls it in.
Rate ranges we have seen on mri machines financing
Pulled from the deals our partner lenders quoted us in the last 12 months. Your actual rate depends on credit, time in business, equipment year/hours, and structure. Treat these as starting reference points, not quotes.
| Credit profile |
36-month term |
48-month term |
60-month term |
Typical down |
| Established practice 5+ yr, prime |
6.8 - 8.0% |
7.0 - 8.4% |
7.4 - 8.8% |
0% |
| Imaging center 2-4 yr |
7.4 - 8.6% |
7.7 - 9.0% |
8.1 - 9.5% |
0 - 5% |
| New imaging center |
8.5 - 10.4% |
8.9 - 10.8% |
9.3 - 11.4% |
10 - 20% |
| Multi-specialty group |
7.2 - 8.8% |
7.5 - 9.2% |
7.9 - 9.8% |
0 - 10% |
84-month and 96-month terms common on new MRI systems to align with the 10-15 year clinical life. Manufacturer captive financing bundled with multi-year service contracts often beats commercial bank rates for qualifying practices.
Three deals we routed in the last quarter
Each scenario below is a real structure from our partner lender network, with identifying details removed. The borrower-profile, equipment, and structure are accurate; the price points are within five percent of actual.
Scenario 1
Multi-specialty group upgrades to 3T MRI
- Borrower
- 12-yr practice, 4 principals 740+ FICO, $8.2M revenue
- Equipment
- GE SIGNA Premier 3T, $1.85M new with 5-yr service bundle
- Structure
- 84-month TRAC lease, 0% down, 15% residual
- Payment
- $22,400/mo with service bundled, $277,500 residual
Outcome: Funded direct from manufacturer captive at sub-bank rates. Service contract embedded in lease payment.
Scenario 2
New imaging center launches with 1.5T
- Borrower
- Pre-revenue, 2 principals 750+ FICO with prior imaging center exit
- Equipment
- Siemens MAGNETOM Altea 1.5T, $1.18M new + $180K shielding/site work
- Structure
- 84-month loan, 15% down, principal PGs
- Payment
- $17,200/mo, 8.9% APR
Outcome: Approved as pre-revenue startup. Required signed payer credentialing contracts and site readiness before final funding.
Scenario 3
Established practice replaces aged 1.5T
- Borrower
- 18-yr practice, 745 FICO, $6.4M revenue, replacing 12-yr-old unit
- Equipment
- Philips Ambition 1.5T helium-free, $1.42M with trade-in
- Structure
- 72-month loan, trade-in equity for down, $1 buyout
- Payment
- $22,800/mo, 7.4% APR
Outcome: Trade-in of prior MRI generated $185K equity. Manufacturer captive at promotional rate.
Lender programs in our partner network for mri machines
The programs below describe the buckets our partner lender network underwrites for this equipment. We route every application to the program that fits the credit profile, time in business, and structure preference. The program assignment is the single biggest driver of rate, term, and approval speed.
Manufacturer captive financing
Direct from OEM finance arms when buying that manufacturer's MRI. Most competitive rates when bundled with multi-year service contracts. Often the dominant program at this asset class.
Established practice program
Bank-rate pricing for practices with 5+ years of operations, profitable financials, and prime principal credit. Longest terms in our network on imaging equipment.
New imaging center startup program
Pre-revenue and startup-friendly underwriting based on principal credit and prior imaging operation experience. Larger down payment required but a real path for new centers.
What an underwriter will ask about mri machines
These are the questions we hear our partner lenders ask on every mri machines application. Preparing answers in advance closes the deal one to three business days faster.
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1.5T vs 3T configuration?
Different field strengths serve different clinical mixes and finance at different price points.
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Helium-cooled or helium-free design?
Helium-cooled requires ongoing cryogen management and infrastructure. Helium-free reduces total cost of ownership.
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Site readiness status?
MRI requires shielding, magnetic-room construction, power, and cooling. Site delays affect placed-in-service date.
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Payer mix and credentialing status?
MRI revenue depends on payer reimbursement schedules and principal credentialing.
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Service contract terms?
Annual service runs 8-12 percent of equipment price. Bundling affects total cost of ownership.
-
Coil configuration and software packages?
Coil set and software licenses drive clinical capability and pricing.
Issues specific to mri machines deals
These are not the standard equipment-finance pitfalls. They are the patterns we see on this exact equipment, in this exact market, that buyers without recent experience tend to miss.
Site work not budgeted at equipment purchase
MRI installation requires magnetic shielding (RF shielding plus possibly magnetic shielding), specific power and cooling infrastructure, and floor loading verification. Site work costs $80K-$300K depending on configuration. Buyers focused on the equipment quote often miss this entire line.
Helium fill cost on cooled systems
Helium-cooled MRI systems require periodic helium refills, costing $15K-$40K per fill plus service labor. Buyers of cooled systems sometimes underbudget this recurring cost. Helium-free designs eliminate this exposure but cost more up front.
Coil package locked to original buyer
Some MRI coil packages are licensed to the original purchasing entity rather than the equipment. Resale of the equipment may not include resale of the coils, which materially affects collateral value. Confirm coil licensing at purchase.
Service contract escalation in year two
First-year service is often included in the purchase price. Year-two service runs full price at 8-12 percent of original equipment cost annually. Practices that did not budget for year-two service hit cash flow surprise.
Documents the vendor must produce on mri machines
Lenders fund off documents, not promises. The items below are the ones we have seen hold up funding on mri machines deals. Confirm each is in hand before signing.
- Bill of sale itemized. MRI, coils, software packages, shielding, site work, training each separately listed.
- Site survey and readiness report. Pre-installation site survey identifies infrastructure requirements.
- Magnet design and helium-fill status. Cooled vs helium-free, helium fill schedule and cost.
- Coil package documentation. Coils included, software licenses, transferability terms.
- FDA 510(k) clearance documentation. Confirms clinical use approval.
- Service contract terms in writing. Year one through year five cost, parts coverage, response times.
- Operator training plan. Operator certification required for billing. Training cost and schedule documented.
Resale and depreciation on mri machines
MRI machines hold value strongly in years one through five (typically 18-22 percent year-one depreciation, 35-42 percent by year five) because of strong international export demand and the multi-year clinical lifespan. Major brands (Siemens, GE, Philips) dominate the resale market and hold residuals best.
The authorized refurbished MRI market is meaningful. Block Imaging, Atlantis Worldwide, OEM-direct refurbished programs sell 5-year-old units at 60-75 percent of new with OEM service eligibility. Gray-market refurbished sellers offer lower pricing but the equipment is not eligible for OEM software updates or authorized service, which compresses both clinical utility and resale value.
The all-in cost of mri machines, line by line
Buyers who finance mri machines rarely fund just the equipment. The actual loan principal is the bundle of items the lender wires to the seller, and that bundle is bigger than the spec sheet implies. The list below covers what shows up on the funding statement.
Base equipment. The unit itself, in the configuration the seller is offering.
For mri machines, base pricing typically runs $1.2M to $1.7M depending on configuration, year, hours, and condition.
Two machines with identical model numbers can price 25 percent apart based on hours, attachments installed, and the condition of wear items at the time of sale.
Attachments, options, and add-ons.
Buckets, thumbs, couplers, undercarriage upgrades, and operator-station options show up as separate lines on the bill of sale. Each is financeable. Attachments alone can add 10 to 25 percent to a base machine price; specify which attachments are included in the financed transaction and which are buyer-supplied.
Delivery, setup, and training.
Delivery, on-site installation, calibration, and operator training can run 3 to 8 percent of base price. For medical and high-touch indoor equipment, the manufacturer commonly sends a representative on site for commissioning. Negotiate the inclusion of this service into the base price rather than as a separate add-on.
Sales tax and use tax.
Sales or use tax is owed in most states and typically rolls into the financed amount; the lender remits it at closing. State conformity rules vary, and a few states offer manufacturing or production exemptions that change the math. Confirm the tax line with the seller before signing rather than discovering it at funding.
Extended warranty, service contract, and consumables.
Service and software-maintenance contracts on this class of equipment commonly run 8 to 18 percent of base price annually. Bundling the first year into the loan is standard. Bundling multiple years into the loan converts a recurring expense into a financed asset, with the same trade-off as financing any other soft cost.
Who actually finances mri machines
Our partner lenders see a wide range of buyer profiles on mri machines applications. The four below are the ones we route most often. Pricing, term, and down payment differ across them, but each profile has a viable path to financing if the application is structured correctly.
The growing operator
A two-year-old business with two existing units and a third on order to chase the next contract. We see this profile most often in trades, fleet, and field services. Lenders weigh the equipment as collateral, then look at revenue trajectory and time in business. Most growing operators qualify for standard programs at fair-to-good credit.
The succession buyer
A family member, key employee, or partner buying out an exiting owner and continuing the operation. The equipment may transfer as part of the deal or be re-financed at the buyer side. Lenders need clarity on which is happening before they price the transaction.
The first-time owner
An owner-operator who has been working for a previous employer or as a contractor and is now buying the equipment to run their own book. Programs exist for this profile but expect 10 to 20 percent down, personal guarantees, and proof of relevant work history.
The diversification buyer
An established operator adding a new equipment class outside their core business (a trucking firm adding a tow truck, a landscaper adding paving equipment). The story to the lender hinges on related-experience and a plausible revenue path; expect questions about how the new asset will be put to use.
Inside the underwriter view of a mri machines deal
If you want to understand why two mri machines deals at identical price land at different rates, the answer is in the five borrower factors below. Lender pricing on the equipment side is reasonably standardized. Lender pricing on the borrower side has real spread.
- Time in business. The single most weighted factor for most equipment lenders. Two years in business opens up the full program menu. Under one year narrows the lender pool and often requires larger down payment.
- Business credit profile. D&B Paydex, Experian Intelliscore, and trade references from current vendors. Stronger business credit reduces personal-guarantee scope and improves the rate.
- Equipment as collateral. The equipment itself secures the loan. Asset class, age, condition, configuration, and resale market depth all factor into how lenders advance against the cost.
- Personal credit of principals. For owners with 20 percent or more equity, personal FICO drives both the available program and the rate. The pull is soft at prequalification, hard at formal application with the chosen lender.
- Industry sector. Some industries get standard pricing, some get a premium, some get a discount. Long-term stable sectors with low default rates (utility infrastructure, established medical, government contractors) typically price favorably.
Diligence on mri machines: the items that matter
Equipment financing on mri machines closes cleanly when the pre-purchase walk catches the items below. When it does not, the issues surface post-funding, and the lender owns nothing of the resolution. Read the seller representation against the items below before signing.
- Title or MSO clean. Title for titled equipment, manufacturer statement of origin (MSO) for new equipment that has not been titled yet. Check for prior liens, salvage history, and that the seller is the title holder.
- Engine and powertrain test. Cold start, warm operation, load test if applicable. Diesel equipment in particular masks issues at warm-running temperature that surface on cold start.
- Attachment compatibility. For machinery with attachments, confirm the attachments included are compatible with the base unit configuration (quick-coupler standards, hydraulic pressure ratings, mounting interfaces). Buying attachments that do not fit is a common surprise on used equipment with mixed-vintage components.
- Hydraulics and ancillary systems. Full range of motion on every hydraulic function, no leaks, smooth operation, no chatter or pump whine. Hydraulic repairs on heavy equipment run into five figures fast.
- Wear items documented. Tires, tracks, undercarriage, cutting edges, brakes. Photograph and note remaining life. These are the items that will need replacement first and that buyers under-budget for.
- Electrical and instrument cluster. All gauges working, all warning lights cycling correctly on key-on, no fault codes stored in the ECU. Modern equipment with electronic controls is expensive to diagnose if anything is wrong.
The post-funding issues we see most on mri machines
The patterns below are not unique to mri machines. They are the standard places where equipment finance transactions surprise the borrower post-funding. Each is preventable at the application or document-review stage.
Trade-in payoff timing
If your transaction includes a trade-in with an existing lien, the new lender pays off the trade-in lien as part of the funding. Verify the trade-in payoff amount the new lender uses matches the actual payoff from the prior lender (which can include accrued interest and fees through the funding date). A $500 to $2,000 gap is common if this is not reconciled.
Add-on funding within the deal
During the application or document review stage, some borrowers add items (extended warranty, training, additional configuration) without realizing the loan amount is re-quoted at the higher figure. Each addition can change the rate, term, and approval terms. Confirm the final loan amount before signing rather than tracking changes piecemeal.
Tax exemption not claimed at funding
If your equipment qualifies for a sales-tax exemption (manufacturing, agriculture, certain non-profit uses), the exemption certificate must be submitted at the time of the purchase to apply. Submitting it after the fact often means filing for a refund with the state, which takes months. Confirm the exemption status before signing.
Fleet vs single-unit pricing
When financing more than one unit, ask whether the lender treats it as a fleet transaction (often with better pricing) versus separate single-unit transactions. The difference can be 50 to 150 basis points on a multi-unit deal. Some lenders default to single-unit treatment unless the borrower asks for fleet structure.
Quick answer
MRI Machines financing typically prices at 7-12% APR for prime credit (720+ FICO) and 11-17% for fair-to-challenged credit (600-679). Standard terms run 36-72 months with 0-15% down. Approvals close in 24-72 hours on app-only programs (typically under $150K) and 3-7 business days on full-financials deals. Required documents: driver license, voided business check, last 3 months bank statements, and the equipment quote.
Quick answers
Direct answers to the questions we hear most on mri machines applications. Each answer is one we have given to a real buyer in the last quarter.
How much down payment is typical?
Standard programs run 0 to 10 percent down on new equipment for established businesses with prime credit. 5 to 20 percent down on used equipment. 15 to 30 percent on credit-challenged or startup applications. Fleet and replacement deals often qualify for zero down.
Can I finance equipment with a 600 FICO?
Yes. Programs exist for credit profiles below prime, typically requiring 10 to 25 percent down, a personal guarantee, and sometimes a contract or invoice supporting the use. Rates run 4 to 8 points above prime, and term length often caps at 48 months instead of 60 or 72.
What is the difference between a captive lender and a bank?
Captive lenders are manufacturer finance arms (CAT Financial, John Deere Financial, etc.) that finance their own equipment. They often offer promotional rates and longer terms. Banks finance any equipment but typically at standard market rates with more conservative underwriting and longer approval cycles.
Can I get a tax deduction on a leased equipment?
Yes. Operating lease payments deduct fully as business expense in the year paid. Capital lease (EFA $1 buyout) structures get depreciation treatment, which often allows Section 179 immediate expensing. Talk to your tax preparer about the specific structure before signing.
EFA vs loan, which is better?
They function identically for tax and ownership purposes. EFA documentation is slightly simpler and faster to close on app-only programs. Loan documentation is more traditional. The rate and structure are typically equivalent. EFA is more common in modern equipment finance, loan structure is more common in bank-originated deals.
What is a TRAC lease?
A Terminal Rental Adjustment Clause (TRAC) lease is a structure used primarily on titled vehicles (trucks, trailers, certain heavy equipment) where the lessee bears the residual risk at end of term. Common on commercial vehicles because it offers operating-lease tax treatment with the buyer keeping equipment-purchase economics.
Cost stack: what total ownership actually includes
The equipment purchase price is one line on the financed amount. The actual cost of ownership over the life of a mri machines deal includes the items below. Buyers who only budget for the purchase price often hit cash-flow surprise within the first 12 months.
- Operator training. Manufacturer-provided or third-party operator training. Runs $1,500 to $25,000 depending on equipment complexity. OSHA-compliant training required on many categories.
- Operating consumables. Recurring costs not included in the equipment purchase: fuel, fluids, filters, tools, parts. Equipment-specific.
- Delivery and freight. Equipment delivery from dealer to operating site. Runs 1 to 5 percent of equipment price on standard equipment, higher on heavy or oversized equipment requiring permits and escorts.
- Late payment fees and penalties. Late fees of 5 to 10 percent of payment if more than 10 days late. Default interest of 4 to 6 points may apply. Worth knowing before signing.
- Software licenses. CAM, design, control, and operational software. Often subscription-based with annual renewal. Can run $5,000 to $50,000+ per seat depending on equipment category.
- Extended warranty or service contract. Optional but common. Annual cost runs 5 to 15 percent of equipment price on production equipment, 1 to 3 percent on commercial vehicles. Financeable with the equipment.
- Title transfer and registration. Titled equipment (trucks, trailers, some construction equipment) requires title transfer and registration. State-specific fees from $50 to $500+.
- End-of-term residual or buyout. Lease structures: fair market value buyout at term end (FMV lease) or stated residual amount (TRAC lease). Loan/EFA structures: $1 buyout or no buyout. Plan for this from day one on lease structures.
What if something changes mid-term
Equipment loans run for 36 to 96 months. Things change. The patterns below cover the situations that come up most often during the loan term and how they typically resolve.
Equipment becomes obsolete or no longer useful
Sell the equipment with lender consent (UCC release coordination), apply proceeds to loan payoff. If sale proceeds are below payoff, the deficiency becomes owed. Voluntary surrender to lender is sometimes available as an alternative.
Pre-payment penalty obstacles to refinancing
Calculate the breakeven: penalty cost vs. interest savings on refinanced rate. Common breakeven is 12-18 months. If you expect to keep the equipment 24+ more months at lower rate, the penalty usually pays back.
Equipment serial number does not match UCC filing
Identify the error (dealer substitution, lender filing error, etc.) and resolve before subsequent financing. The UCC needs to match the actual collateral for enforceability. Lender amendment of the UCC handles this in most cases.
Borrower cash flow stress mid-term
Contact the lender BEFORE missing a payment. Most lenders work with borrowers in temporary stress through extension, deferral, or restructure. Missed payments without contact trigger default mechanics that limit options.
Authoritative sources
The rate ranges, structures, and program details on this page are informed by our partner-lender book and the public industry resources below. We link out so you can verify any specific claim or go deeper.
