Why should I lease automotive repair equipment?

As vehicles continue to evolve with smarter technology and wireless capabilities, Crestmark Equipment Finance has helped multiple smaller automotive repair shops and larger dealership maintain consistent service levels by providing competitive, fixed payment financing for their needed equipment.

What type of automotive equipment can Crestmark Equipment Finance lease? All types including: diagnostic equipment, car lifts and floor jacks, wheel balancers, brake lathes, tire changers, battery chargers, paint booths and qualifying technology and equipment.

Why should an automotive dealership, body shop or automotive shop owner think about leasing their automotive repair equipment vs. paying cash?

• Low Upfront Cost & Fixed Monthly Payments: Crestmark Equipment Finance requires a small security deposit to acquire the equipment plus you benefit from fixed monthly payments throughout your selected 24-60 month lease term. Most shop owners do not want to invest a large upfront sum to upgrade equipment.
• Equipment Pays For Itself: Financing your equipment upgrades allows your shop/dealership to generate income (using new equipment) and earmark those profits toward the fixed monthly lease payment. For example, if your lease payment is $400 per month, how many alignments do I need to make on this new equipment to reach that number?
• Vendor Neutrality: Crestmark Equipment Finance remains “vendor neutral” in the equipment leasing industry, which means an automotive repair business owner can select multiple types of equipment and combined them into one fixed monthly lease payment. For example, a shop might need to upgrade diagnostic equipment and lifts, but the owner also could finance new POS or IT systems on the same lease. YOU select the equipment; Crestmark Equipment Finance creates flexible financing options for you to own or upgrade the equipment at lease end.
• Keep Pace With Your Customers: With each new automotive model year, the complexity of today’s vehicle systems become more enhanced, which means upgraded technology and diagnostic systems for proper maintenance of the vehicles. Throughout a lease, you can roll in equipment or software upgrades to match the current diagnostic systems to ensure proper maintenance/repair of your customers’ vehicles.
• Preserve Bank/Credit Lines: Leasing provides off-balance sheet financing for your business including potential tax benefits. By financing your equipment, you can use bank/credit lines for other business-related expenses (i.e., hiring workers, building expansion, etc.).

As a Crestmark Equipment Finance leasing client, you select the proper equipment to drive the success at your facility through low upfront cost, fixed monthly payments during your selected term, and the ability to purchase, upgrade or continue leasing the equipment at lease end.

If you are looking to finance automotive equipment for your business, please contact Crestmark Equipment Finance or call 888.999.8050.