Construction Equipment Financing Oakland County, MI

If you are in need of construction equipment financing in Oakland County, Michigan please contact Liberty Business Financing at (586) 484-7887 today for more information.

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Three Advantages of Construction Equipment Financing Over Purchasing Equipment

Construction Equipment Financing Oakland CountyToday, many construction businesses are leasing their construction equipment rather than purchasing it on their own. The following advantages leasing equipment has over purchasing makes it an important option to consider, especially in industries where having up-to-date equipment can make or break business success.

Lower payments

Purchasing construction equipment with cash upfront could leave a big hole in your budget. Your business could be left scrounging for weeks to make up for the payment.

Alternatively, leasing equipment allows companies to set a payment plan that works with their budget. Because many leasing companies offer 100 percent financing with no down payments, working capital can be preserved and monthly budgets stay consistent. You can hang onto your monthly profits and use them to reinvest into your business.

Also, by anticipating exactly how much they’ll be paying each month – even with the addition of new equipment – lessees have the benefit of cash forecasting. Budgets can be accurately assessed without fear of unknown costs in the future. Forget about the rainy day fund; upgrades, repairs, and future equipment acquisitions can easily be worked into your budget.

Less risk

Items depreciate. Whether its medical equipment, computers, construction tools, printing gear other equipment your business utilizes, technology becomes outdated fast. Some products might be beefed up with enhanced features, while others are outright replaced by newer technologies. A cash purchase runs your company the risk of owning dated or obsolete technology. You’ll face the question of selling for a loss or bearing with the outdated products, which places many a small business owner between a rock and a hard place.

With the option of equipment leasing, a small business can avoid that question altogether. Short-term leasing means you can upgrade quickly, keeping you current with the latest in the industry.

More options

Using limited funds for a cash purchase could send you shopping in the bargain section. It might mean only half-furnishing your restaurant’s kitchen, or partially equipping your construction team. Limited investing could debilitate your company’s progress, causing you to lose out to your competition.

Equipment financing keeps many doors open. A wide array of new and used products are suddenly within reach. With leasing, investing fully in your business is much more affordable, bringing your productivity to its full potential. source: nationalfunding.com

Please call Liberty Business Financing at (586) 484-7887 if you would like more information about our construction equipment financing in Oakland County, MI. Click here to learn more about our construction equipment financing programs. 

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