Why Financing Your Next Truck Is Necessary For An Established Business Owner

[Don Seeley]

Why should you consider equipment financing for your tow truck business?

1. Equipment Financing Helps You Get Equipment Sooner

First and foremost, you get the equipment sooner. You may not have all the cash on hand to purchase a tow truck outright, but if you finance the equipment instead the lender can help you afford it today.

 

Equipment financing allows you to get the equipment in production generating revenue faster than if you waited around to have all that purchasing power on hand.

 

There’s also opportunity cost with waiting. If you are hesitant about financing, ask yourself if your business is comfortable with:

• Lost contracts
• Outsourcing business you could do yourself
• Growing at a slower rate

Ready to Get Your Tow Truck Sooner? Talk to a Financing Consultant About Your Needs

Since 1990, Beacon Funding has helped companies like yours get equipment in their hands faster. They’re ready to help you achieve success by finding the right financing option for your unique situation. To discover what financing options are available to you, schedule a quick talk with a financing consultant today.

2. Conserve Your Cash for When You Need It

A dollar today is worth more than a dollar tomorrow.  Simply put, you cannot finance things like marketing costs, but you can get an affordable monthly payment on a piece of equipment.

 

Using all the cash you have on hand to purchase a piece of equipment can make operating expenses really tight. No business wants to be equipment rich and cash poor. With equipment financing, you can conserve your cash for a rainy day, payroll, operating expenses, etc.

3. Finance New and Used Equipment

Equipment financing isn’t only for new equipment. A quality equipment financing lender will offer financing both new and used equipment. This opens your business up to more options to find the right equipment for your unique situation.

 

With this flexibility, make sure to evaluate:

• Price point: Which equipment will fit your monthly budget?
• Reliability: Has the equipment been inspected?
• Convenience: Is the equipment currently available, or does it have production delays?

If you need help evaluating your equipment options, Beacon Funding has over 31 years of expertise. Talk to your financing consultant about your options and if your equipment will meet your goals.

4. Wide Credit Window

A wide credit window is another great reason to consider equipment financing.

 

On one end of the spectrum, Beacon Funding has applicants who have been in business for years with well-established personal and business credit history. On the other end, we have also approved applicants with more challenged credit and even start-ups.

 

A best-in-class financing partner will have options for both start-ups, established businesses, and everyone in-between. Beacon Funding's focus on wide credit windows and niche equipment means we're able to give an approval to 7/10 applicants.

5. Fixed Monthly Payments

Knowing your fixed monthly expenses is powerful for a business. Knowing your operating expenses will help you budget accordingly and grow your shop.

Talk to Us About Your Established Business’s Needs

If you’re still wondering how equipment financing can boost your business’s production, talking with a financing consultant is a great way to learn more! Schedule a quick call.

 

Beacon Funding’s financing consultants are always ready to answer your toughest questions – you’ll be surprised how knowledgeable they are.