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18
May

Equipment Financing vs. Leasing: What’s the Difference?

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Difference between financing and leasing

If you are thinking of taking out a truck loan, then you probably have some questions concerning the differences between equipment financing and leasing. The biggest difference between leasing and equipment financing is in the ownership. That is, when you lease a piece of equipment, then a vendor will allow you to rent it in exchange for monthly payments. This means you will not own the asset during the duration of your lease. Conversely, equipment financing serves as a collateralized loan that will provide you with the option to purchase the piece of equipment outright. In other words, once the…

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19
Aug

Here’s What You Need to Know Before You Rent Heavy Equipment

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Here’s What You Need to Know Before You Rent Heavy Equipment

If you have never taken out a heavy equipment loan, or have never rented a piece of heavy equipment, then you may have several questions beforehand. You might be intimidated by the process, as you may not know what to expect. Fortunately, the renting of heavy equipment does not need to be a daunting task. Here, we will discuss what you need to know before you rent heavy equipment so that you will be prepared with the proper questions to ask your heavy equipment rental company. The Environment You should first determine the environment that you will be working in.…

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5
Aug

Considering Your First Truck Lease?

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Considering Your First Truck Lease?

If you are thinking of purchasing a truck, then you will have two options at your disposal: you can get a commercial lease for your truck or you can opt for a truck loan instead. It is also worth noting that both options will allow you to take your truck out on the road in order to transport goods and the like, and both will also require that you make payments on a monthly basis. However, there are a few fundamental differences between the two options. Here, we will discuss what is involved in taking out a truck lease, and…

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