So, you’re in the market for some heavy equipment solutions for your company. Perhaps you have even found the perfect roll-off truck or dump truck or vac truck that suits your needs perfectly.
The next question is: should you buy or lease?
There are advantages to both options, and which one you choose depends on how much cash you have on hand, potential tax implications, forecasted business needs and a host of other supplementary factors.
At Custom Truck Capital, the financing arm of Custom Truck One Source, we often have customers who ultimately decide that leasing equipment makes more sense for them than outright purchase.
For any or all of the following reasons:
- Leasing saves capital as it requires little to no cash up-front.
- Leasing is a way to keep up with the latest technology as you can upgrade equipment after a specified amount of time.
- Leasing means a lower monthly payment.
- Leasing gives you flexibility in case your future business needs change and you no longer need the equipment.
Custom Truck Capital makes heavy equipment leasing even more attractive with the following advantages:
# 1: 100% Financing
Conserve cash for other needs! We include soft costs such as destination charges, taxes and other fees in the financed amount.
# 2: Lowest Monthly Cost
With financing, you have full use of the equipment with low monthly payments for the term you choose. You can profit from use of the equipment to generate income without making substantial upfront investments.
# 3: Fixed Payments
We lock in your payments, so you don’t have to worry about adjusting for inflation in the future.
# 4: Flexible End-Of-Term Options
With certain lease structures, you have the option to purchase the equipment, trade up to new equipment, return the equipment with no further obligation or continue to make payments on a month-to-month basis, as needs may change over time.
# 5: Flexible Payment Structures
We structure payment plans to suit your specific cash flow needs.
# 6: Manufacturer Warranties
We pass any warranties directly to our customers.
# 7: Obsolescence Protection
Financing can provide the flexibility to trade up or add equipment when business demands something new.
# 8: Available Credit Preservation
Custom Truck Capital financing doesn’t tie-up existing lines of credit, so you have more available credit when you need it. Leasing may not interfere with loan covenants or other restrictions you may have with your bank.
# 9: Tax Benefits
You may be able to deduct monthly lease payments on True Leases as an operating expense and take advantage of government incentives like Section 179 with a Full Payout Lease.
# 10: Flexible Financing Terms
Financing terms generally run from 24-84 months, depending on the type of equipment and are subject to standard credit review and approval.
Ready to discuss leasing options?
Contact us by clicking HERE.
With Custom Truck Capital, you have access to industry-leading financing, and our equipment financing experts are standing by to guide you through the process.