When you are in the market for a piece of heavy equipment, there are a lot of things to consider—including whether to buy, rent, or lease the equipment. Each business has its own unique financial situation and each method of acquisition has it advantages. Let’s explore a few benefits of choosing a financing option.
1. Keeps Your Capital and Credit for Other Business Needs
Running and operating a business comes with a fair share of expenses. Choosing a financing plan over paying for you heavy equipment in full allows you to keep your cash available for other things such as hiring, safety training, business expansion, etc.
2. Better Expense Planning
Choosing a to finance your heavy equipment allows you to better plan other expenses. Paying for heavy equipment upfront can result in a budget shift that can impact your business’s bottom line and prolong the purchase of other necessary assets. Financing allows you to reduce the long-term burden and spread out the impact of the purchase.
3. Stay on the Cutting Edge
Selecting a financing option, such as our SmartLift® machine financing, allows your business to stay on the cutting edge of technology. How? By selecting a financing plan, your business will have the liquidity to invest in new technologies as well as the availability of funds to make smaller equipment purchases as needed.