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How Heavy Equipment Financing Companies Will Help My Business Succeed

Posted On: April 14, 2018 author Paul Kendall

Did you know that heavy equipment financing companies can help your business succeed in today’s world? Whether you’re in dire need of funding or just looking for another avenue to improve your business, heavy equipment financing from expert financial organizations can be a perfect “go to” for your financial needs.


 Wide Range of Heavy Equipment Loans and Options Gives You Flexibility


Working with heavy equipment financing companies means that you have a much greater range of options when it comes to the type and amount of funding you want to receive. Whether you’re looking to fund a large heavy equipment purchase or need much larger funding for a massive upgrade for your business, heavy equipment financing companies can help.

First decide what kind of heavy equipment you need to purchase and how much it would cost you. Then you can consider the types of equipment financing options that are available. You will generally be offered a $1 buy out lease or an equipment finance agreement. With heavy equipment financing bad credit you will be offered a TRAC lease or FMV buy out lease, which does have many benefits too.

It’s worth reaching out to a heavy equipment finance companies and talking to them about their equipment financing options so that you can learn all the different ways that your business can meet the unique needs that it has. It's common in the equipment finance industry to see fixed monthly payment terms from 24-60 months for cat used equipment financing and terms from 12 - 84 months for new caterpillar leasing. 

Quick Turn Around of Financing Heavy Equipment Helps You Move Quickly In Your Market


Heavy equipment financing companies have considerable financing capabilities that allow businesses of all sizes to get the funding they need. This also means that they have the capability to provide that funding in a very short amount of time.

When you reach out to get funding from heavy equipment financing companies, the turnaround time from when you apply for funding and when you receive your funding can be very short, often times as little as the very next day.

This allows you to stay on top of competitive advantages within your market. Once you notice an opportunity in the market or a need in your very own business, you can apply for funding and get rolling in a very short amount of time.

You won’t find this turnaround time with other types of traditional financing sources, like banks where you would have to wait for days or weeks at a time just to hear whether or not you get “approved,” let alone receive the funds in time.

Competitive Heavy Equipment Financing Rates Helps You to Maximize Your Resources


If you go to traditional lending sources, like a bank, you are more likely to get stuck with a fluctuating rate that you have little control over. By working with heavy equipment financing companies, you’ll have greater flexibility over how your financing agreement is put together and a fixed equipment financing rate.

Heavy equipment financing companies are generally more forgiving across the board when it comes to working with businesses with a wide range of financial statuses. Whether you have high or low credit, have been in business for decades or just getting started, or have a lot of personal resources to commit or not, can all influence the type of deal you get.

Heavy equipment financing companies will generally be able to establish a flexible agreement for you to give you competitive equipment financing rates that fit within your budget and current financial status.

Use our heavy equipment loan calculator  to calculate how much your heavy equipment financing payments could be and use our equipment loan calculator to calculate how much heavy equipment you can afford to lease based on your monthly budget.

Additional Tax Benefits That Make Financing a No Brainer


Depending on how your financing agreement is structured, you could actually save money by working with heavy equipment financing companies instead of paying for heavy equipment outright with cash or renting for a short period of time. Even if you have the money needed to pay for the heavy equipment, it’s worth considering the tax advantages of using heavy equipment financing.

Through Section 179, you can structure your heavy machinery leasing on an equipment financing agreement or on a $1 buy out lease agreement. The deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond. The limit on caterpillar equipment purchases likewise has increased to $2.5 million.

Always consult with heavy equipment leasing companies and your financial advisers to learn about the exact situation your business is in, with regards to heavy equipment financing and the associated tax advantages.

Maintains Cash Reserves for Competitive Market Pivots


While there’s nothing wrong with paying for certain business expenses with cash, there are some financial advantages that can come with heavy equipment financing that you wouldn’t get if you paid cash (such as the tax benefits from above).

When you choose heavy equipment financing, you’ll get those benefits in addition to maintaining current cash reserves within your business. This allows you to use cash on purchases, expenses, and investments where financing may not be an option or is the smarter financial move.

Taking the time to weigh whether or not it’s financially smarter to utilize heavy equipment financing or to pay with cash outright, while still keeping agile within your market. Always utilize heavy equipment leasing for things that depreciate and pay cash for things that appreciate, like hiring great people, marketing for a high ROI, and inventory to sell. Good credit business owners, usually can make more money by investing it back into their business, their internal rate of return is much higher than heavy equipment financing rates.

You Get a Financial Expert on Heavy Equipment in Your Corner


Heavy equipment financing companies are not only experts at all things financing for businesses but they are also well versed in heavy equipment. If it wasn’t for their knowledge of heavy equipment and the finances surrounding them, they wouldn’t be able to properly advise you on the best financial strategy for you to finance heavy equipment.

When you have an uncertainty about heavy equipment or the finances related to the equipment you’re looking to purchase, you can call on heavy equipment financing companies to give you added insight into your potential purchase before you make it or can help to answer questions after you have begun financing.

It never hurts to have another expert in your corner within your market, which is why it can be useful to get funding through heavy equipment financing companies that know your industry well already.

Contact Trust Capital today at 866-458-4777  to learn more about how heavy equipment financing companies can help your business succeed in today’s world of business. Through smart heavy equipment financing strategies your business can thrive in your current market.

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