If your company wants to expand or upgrade by bringing in additional construction equipment, you are probably considering construction equipment financing. Yet, you might be concerned about adding to your debt load and would like to better understand your construction equipment financing options.
You have many financing options when it comes to construction equipment so it is important to understand them all.
Leasing – With lease financing, you are able to utilize future earnings to pay off your new construction purchases. This option helps you to keep your line of credit open and can improve your cash flow. In addition, there are tax advantages to leasing such as the case of a true operating lease where your payment is 100% deductible. In addition, your lease payment generally would be less and fixed for the term of the lease.
Loan – Of course, financing your construction equipment with a loan is another option. Since construction equipment tends to have a very long life, generally longer than a lease term, financing your construction equipment can make sense. Once your loan is paid in full, your company gets to enjoy the benefits of ownership and the future flexibility to use the equity from the equipment to leverage working capital if required.
Taycor Financial is your ideal construction equipment financing partner. We work with companies in a variety of industries to secure equipment financing for the following types of equipment:
- boom truck
- bucket truck
- concrete pump
- concrete truck
- ditch witch
- dump truck
- skid loader
- skid steer
- tow truck
- wood chippers
Call Taycor today to learn more about their construction equipment financing needs. Taycor is the premier equipment financing company in the United States. They pride themselves on personal service and competitive rates. Improve your bottom line and expand your business with construction equipment financing from Taycor Financial.