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The 5 benefits of financing or leasing when buying equipment and trucks.

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1. Financing is a smart move

The top reason business owners finance or lease is that it keeps their cash in the business and they use it for operational purposes rather than on a capital intensive purchase. Any smart business owner knows it’s often difficult to find extra money in the budget for equipment purchases among other fixed expenses (payroll, office space, etc.) and the occasional unplanned expenses (repairs, surprises during a contract, etc.).

2. Let OPM (Other People’s Money) work for you

Businesses that are capital intensive know that cash flow is the life of the business, especially during times of uncertainty. Keeping your cash on hand will allow you to keep working when your receivables are behind and it can allow you to jump on additional jobs while others sit on the sideline. Financing capital intensive equipment keeps your bank account looking healthy by allowing us to put our money to work for you.

3. Stand out amongst competitors

By financing your purchase you get the equipment best suited for the projects you’re undertaking, rather than the equipment suited for your budget. Instead of purchasing your equipment upfront and draining your cash, financing allows a company to use up-to-date technology and equipment without paying for it all at once and risking the health of their cash flow, thereby allowing them to stand out over their competitors.

4. Create a credit worthy track

For new or established businesses, financing allows you to your business’ creditworthiness. This means when it’s time to borrow money, lenders tend to look at your borrowing trend to determine if you have the capacity to service the debt amount. If the trend is positive, you’ll get approved for funding easier and quicker as each borrowing round matures. Businesses that rely on heavy machinery or transportation equipment, having quick access to large amounts of capital can be the difference between winning and losing an opportunity. 

5. Take advantages of the tax (savings) opportunities

If your business is booming this year and you want to minimize your tax liabilities, certain leasing contracts allow you to generate some additional expenses you can write off against your income. Talk to your accounting professional, as you may be missing out on a great opportunity to save some money!
If you’re in business, whether large, small or established take a look at your cash purchases of equipment and trucks. Get the equipment and trucks you need without spending your valuable capital upfront. Utilize flexible financing and leasing from Fleetway Capital! Call us today at 610-962-9292 and speak to one of our trained specialists!

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