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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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4
May

Reasons to Consider Construction Equipment Financing

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Construction equipment financing

There are many reasons why businesses seek out construction equipment financing in Canada. For instance, the intensive nature of the industry will often necessitate the purchase of compact attachments and equipment to get to hard-to-reach spaces, as well as heavy-duty equipment for larger projects. Moreover, construction businesses will also require office equipment and IT tools to handle many clerical and administrative tasks. Here, we will discuss some of the most important reasons why you may want to consider construction equipment financing for your business. Flexible Options Most equipment financing enterprises will offer their clients many different flexible options to accommodate…

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3
Feb

Which is Better for You: A Line of Credit or Term Loan?

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Which is Better for You: A Line of Credit or Term Loan?

Within the trucking and transportation industry, there are two options to get started. Whether you’re looking to engage a single unit or a fleet, you can either rely on a line of credit or invest in a term loan. At Truck Loan Center, we like a credit loan better. However, there are pros and cons to both. If you’re at a crossroads and trying to determine how to finance your transportation, here are a few things to consider. What is a line of credit? Like a personal line of credit used to buy a car or finance a house, a…

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19
Aug

Here’s What You Need to Know Before You Rent Heavy Equipme...

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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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19
Sep

Hidden Benefits Of Leasing Equipment

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Leasing equipment is often the most cost-effective way to free up funds in a company. Leasing makes cash available for other things, like emergencies or any other things that may crop up. Many construction companies prefer leasing equipment to buying. Here are some of the advantages: Cash flow is stabilized; Payment structures are customized; More flexibility in leasing than in loans or outright purchases; Well-managed assets; Equipment upgrades easier to do; and Flexible options. Of course, there are the tax benefits of leasing as well – tax deductions, increased cash flow, write-offs, accuracy in planning and approvals are usually quicker than for other financing options. Here is some of the equipment you might be better off leasing, than buying: Back hoes Cranes Bulldozers Crawlers Crushers Wheel loaders Excavators Cement Trucks Advantages to leasing You won’t have as much of an initial layout in cost You’ll have access to the latest…

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