Category Archives for Construction Equipment Financing
Paving Equipment Financing
Do You Need To Finance New Or Used Paving Equipment For Road, Driveway, or Lot Applications?
Paving equipment financing can be secured from a number of different loan and leasing sources here in Canada and also in the U.S.
Because of the wide range of paving equipment types (asphalt, stone, etc.), there will some variability in terms of construction equipment financing companies that will be interested in any one particular financing request. For instance, paving equipment under $250,000 in value will have many more equipment financing and leasing options than higher valued paving equipment.
And when you layer in used equipment paving equipment, there will again be less lenders interested for different types of paving assets.
So the key in getting the best paving equipment financing options is to make sure you’re applying to the most relevant equipment lending and leasing companies and providing them a financing application package that accurately covers u off their assessment requirements so you can get a positive answer in the least amount of time possible.
The best way to accomplish this is through the services of an equipment leasing specialist who maintains an understanding of who is lending in the market and who is not, where the best deals can be found for a given equipment financing scenario, and ones that should be avoided.
Because many equipment financing and leasing companies only work through third party agents or brokers, the only way you can get full access to all your market options is to work with an experienced financing specialist or broker.
Get Paving Equipment Financing That Meets Your Needs
Because of the ongoing need for road maintenance and repair as well the strong government commitment to invest in infrastructure, there is tends to be a strong resale market for used paving equipment which makes used assets easier to finance and at better rates and terms than other categories of assets. That being said, used equipment will still likely require higher deposit amounts, come with higher effective borrowing rates, and shorter repayment terms. Longer repayment terms are going to depend on the remaining useful life of the paving equipment which in some cases can be quite significant.
If you’re just starting to look for paving equipment that meets your requirements, you may want to consider applying right now for a pre-approval so you know exactly how much of funding you have to work with and the repayment terms you will have to cash flow. Getting the financing process out of the way can not only save you time at closing, but allow you to zero in on option that fit your equipment financing approval.
Excavator Equipment Financing
Does Your Business Need Financing For a New or Used Excavator?
Excavator financing and leasing, or crawler financing to some, is readily available from a number of different leasing companies across Canada and the U.S. We work with lenders and leasing companies that collectively deal with the full spectrum of financial and credit profiles that may require financing for this type of asset.
With in this category of asset, some of the more common types of excavators and crawlers that are regularly considered for equipment financing include trench excavator units, mini excavator, track excavator, wheel excavator, crawler excavator, and mini excavator. Here are also the more common manfacturer’s and branded distributors that provide excavating equipment into the market which can be financed. Komatsu, Link-Belt, New Holland, Prentice, Sany, Scattrak, Sumitomo, Takeuchi, John Deere, Kobelco, Doosan, Caterpillar, Benati, Fiat-Hitachi, Hyundi, Ingersoll-Rand, Koehring, Demag, Gradall, Bobcat, Daewoo, Mustang, Hitachi, Sunward, Volvo, Yanmar, Kubota, Kato, Samsung, Airman, Terex, ICB, Gehl, Case.
Used excavator financing and leasing is very common with both lenders and leasing companies. Because of the heavy duty nature of this type of equipment, it tends to have a longer useful life than other types of assets, which makes it easier to get construction equipment financing on used equipment. Rates and terms for used excavators and crawlers will depend on the condition of the equipment and the financial and credit profile of the borrower.
Get Excavator Equipment Financing That Meets Your Business Needs
For brand name equipment sold through manufacturer dealers, we also recommend that you get equipment financing quotes from other sources besides the manufacturer’s own equipment financing programs. These programs can offer great rates, but sometimes offset their lower interest revenues with higher equipment sale prices. The best way to tell if you’re getting the best deal is to compare a cash sale price and third party financing options with what the dealer may be offering so that you get a more accurate comparison of value.
But regardless of where you’re purchasing the asset from, just give us a call so we can quickly assess your requirements and provide relevant equipment financing options for your consideration. We also can provide equipment financing pre-approvals, fast approvals for accepted offers and bids, and refinancing of cash equipment purchases completed in the last 6 months.
Skid Steer Loader Financing
Does Your Business Need To Finance a New or Used Skid Steer Loader?
If you do, then you’ll be happy to know that skid steer loader financing can be acquired for just about any make and model of new or used skid steers. To give you an even better idea of what can be financed, here is a a brief listing of some of the more common items in this category as well as the more prominent manufacturers that regularly get financed through Canadian based lending and leasing companies.
Skid steer loader, track loader, skid steer, track skid streer, skid steer forks, skidsteer, skid steer bucket, skid steer side entrance, rubber track skid steer, skid steer rubber track, skid steer tracks.
Bobcat, Caterpillar, Ditch Witch, Hydra Mac, Komatsu, New Holland, Power House, Case-Davis, John Deere, ASV, Compact Power, JCB, Kanga, Takeuchi, Volvo, Doosan, Boxer, Mustang, Thomas, Toro, Case, Gehl.
For used skid steer loader financing, loans or leases can be acquired from our financing partners that focus on providing construction equipment financing within their lending or leasing programs. But even beyond construction, there are other financing companies that will also finance used skid steers due to their broad use across a variety of industries.
Because skidsteers tend to have a long useful life and maintain a high demand for used equipment in the resale market, its pretty easy for financing companies to provide good rates and terms of these types of assets. Even if an equipment financing company were to end up with an asset at the end of a lease term, it would be fairly easy for them to sell it into the used equipment market for a reasonable price.
Get Equipment Financing That Meets Your Business Needs
Many of the large manufacturers in this market also provide their own financing programs for both new and used equipment to help customer more easily acquire the financing necessary to move the equipment off their lots. And while you may be able to secure excellent rates through a manufacturer, make sure that you’re also getting the best overall deal.
In some cases, the manufacturer will offer skid steer financing at excellent interest rates and terms, but also increase the price of the asset at the same time to offset the lower financing rate. In the end, you may be worse off in terms of your total financing and equipment costs over time versus getting an equipment lease from a different source and buying the asset from the dealer at a cash price.
This is where we come in to help you with the process. We suggest you give us a call and apply for a pre-approval for the equipment you’d like to acquire. That way, you can compare a dealer’s cash price to the manufacturer financed price to determine which deal is going to be the lowest cost.
Regardless if you’d like a pre-approval for skid steer loader financing, have an accepted offer that needs to be financed right away, or want to refinance a recent cash purchase, we recommend that you give us a call so we can quickly assess your requirements and provide relevant options for your consideration.