OEM captive finance attachment at the dealer point-of-sale has dropped from 54% to 41% in two years. Independent lessors are showing up at the showroom with pre-approvals in hand, quoting structures the dealer F&I desk hasn’t presented, and closing in days rather than weeks. The captive advantage hasn’t disappeared—but it’s no longer automatic.

This report shows equipment financiers and OEMs how the construction deal is actually won in 2026: CapEx intent by equipment category, deal size, and purchase timing. Financial performance benchmarks—backlog coverage, utilization, DSCR—that separate financeable contractors from credit risk. Competitive landscape across captive, bank, and independent channels, plus the structure education gap leaving 58% of sub-$25MM contractors with only loan and $1 buyout options on the table.

Plus what you won’t find anywhere else: the voice of the customer. Contractors, dealer F&I leaders, and captive finance executives in their own words, explaining how financing decisions actually get made.

Proprietary data from 612 construction decision-makers, 109 dealer F&I leaders, and 28 OEM and captive finance executive interviews.