Whether your next project involves constructing a building or moving a mountain, you don’t want to start down the path of new equipment by making your budget into a mole hill.
Crestmark Equipment Finance allows construction and building companies to acquire the necessary equipment for upcoming projects and update outdated equipment to conform to safety requirements through fixed monthly payment financing programs. Qualified equipment includes: bulldozers; backhoe and other loaders; compactors; excavators; graders; dump trucks; diesel generators; cranes; forklifts and any type of machinery.
Why should you consider lease financing for your construction equipment needs?
Up-To-Date Equipment: Newer construction equipment does not need as much repair or upgrades as older equipment plus it conforms to the latest safety enhancements and improves operator comfort.
• Cost-Efficient: Construction equipment holds a high cost for the newest models. Through financing, a low down payment only is required and you can generate cash flow by utilizing the equipment vs. a large upfront budget cost. Through financing, you only pay for a portion of the truck vs. the entire truck with fixed monthly payments.
• Maintenance: Based on the lifecycle of construction equipment, most owners tend to retain the equipment longer than its useful life (10-20 years), but spend more on maintenance to keep their fleet operational. Newer equipment typically is easier to maintain and doesn’t require as much maintenance as a 10 or 20-year old machine.
• Easy Upgrade vs. Resale: The construction equipment industry has become very competitive including the resale of used machinery. By leasing your construction equipment, you select the term (2 to 5 years) and have the option of purchasing and owning the equipment, returning the equipment or upgrading to new equipment at lease end. If purchased, you must spend the time and resources to sell the equipment. Through financing, your business can upgrade your entire fleet – and easily add on more equipment throughout the lease term as business escalates.
• Vendor Neutrality: As Crestmark Equipment Finance has stated in previous blogs, we accommodate many business owners by having the ability to bundle multiple types of equipment from different vendors into one fixed monthly lease payment. You can select the construction equipment from multiple different vendors – Crestmark Equipment Finance will combine everything into one invoice/payment per month.
Don’t build your budget from an old foundation of equipment when lease financing gives you the flexibility to upgrade to new equipment without getting caught with obsolete equipment. To learn more about our construction lease financing program, please contact Crestmark Equipment Finance or call 888.999.8050.