Fertilizer equipment comes in a number of different makes, models, sizes, and shapes depending on the type of application and industry that requires fertilizer hauling, applying, or storing requirements.
Industries such as agriculture, landscaping, and golf utilize many different types of fertilizer equipment with the most diverse coming from agribusiness applications.
New or used fertilizer equipment can be financed by an equipment loan or lease. The key for used fertilizer equipment financing is the condition of the equipment at time of purchase and the projected remaining useful life of the asset. If the equipment has not been properly cared for and is in a poor state of repair, its unlikely to be able to be financed regardless of its age.
Fertilizer equipment can also have a massive range in purchase price depending if you’re requirements are for large scale commercial equipment for a farming operation, or a smaller scale commercial asset for applications such as landscaping or golf course maintenance.
Regardless of the dollars involved, fertilizer equipment assets of all sizes and shapes will likely be eligible for commercial and farm equipment financing or equipment leasing programs, especially for new equipment.
The choice of loan or lease largely has to do with the applicants need or desire to customize cash flow and maximize tax reduction strategies as from a pure financing point of view, both a loan and a lease work in a very similar fashion.
The biggest difference between the two types of financing is ownership. With an equipment loan, the borrower owns the equipment being financed. With an equipment lease, the leasing company owns the equipment being lease financed.
If you’re in the market for a certain type of new or used fertilizer equipment asset, we suggest that you give us a call so we can quickly assess you’re requirements and suggest different programs to apply for a pre-approval.
With the equipment financing out of the way, you can focus in on getting the best deal available, knowing that whatever you can locate can be purchased quickly due to a pre-approval for financing being in place.
Or if you have a purchase all lined up subject to getting financing approved, give us a call today and we can get an approval back to you in two business days or less depending on the amount required and the condition of the asset.