A Guide to Financing Your Heavy Equipment
Don’t put off your decision to buy a piece of equipment just because your budget won’t let you. Instead, explore financing as an option to get your preferred machines without paying the whole amount up-front.
Businesses and farm owners who finance their equipment purchase it without hurting their pocketbooks. Read this guide created by the experts at Holder and Sons Equipment to know how they do it. For more tips, visit our dealership in Durham, North Carolina, where we welcome our customers from Raleigh and Greensboro.
How Long Will You Use the Equipment?
Before you look at any financing options, spend some time crunching a few numbers.
Calculate how many years you plan to use the equipment on your farm or your job site. If you intend to use it for several years, you’ll want to look at long-term financing options. These loans need you to pay a down payment of some kind, depending on the brand, model, and total loan amount for the equipment. You can choose to make monthly payments based on your budget.
If you’ll be using the equipment for short-term projects, an operating lease may be a better option for you. For this type of loan, you can choose a monthly repayment plan that will cover the duration of the lease. There are lease agreements that let you alter the repayment schedule to match the time of the year when you have more cash flow.
Plan Your Budget
Knowing how much you can comfortably spend on purchasing a piece of equipment will let you decide whether you’ll want to buy a new piece of equipment or a pre-owned one. While a new machine will come with several perks, a used product will still have much to offer you. All you’ll need is a reliable dealer who can help you with a fair deal.
Start the Financing Process
To start the financing application process, connect with our finance department at Holder and Sons Equipment. Our friendly team can address all your concerns and help you set up a financing plan that will be perfect for you. We want you to own your preferred equipment as soon as possible and will make all possible efforts to ease your purchase journey. We can help you create a personalized plan that will work for you.
Are you ready to look at our latest inventory of heavy equipment? Visit Holder and Sons Equipment in Durham, NC, and let our friendly team help you pick the equipment that will boost your productivity and speed up your chores. We proudly serve those in Raleigh and Greensboro.
