Understanding the financial programs available to you

Dec 8, 2022

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Understanding the financial programs available to you

For the past decade, interest rates have been at historical lows, however with increasing interest rates and inflation, new equipment prices might come as a shock. The use of the proper financial programs can help offset these rising rates. You do not want to hit rock bottom and not have cash flow, so knowing what financial programs are available to you will help keep you up and crushing it.

Other options to purchasing equipment

Before we get into the financial programs, your first step should be determining if buying is the option for you. Questions can start with:

What is my company’s existing finances?

What would be the length and frequency of use?

What are short-term and long-term costs associated with this equipment?

If you are still uncertain if buying is the right option for you, then check out our previous blog: Maximizing profit by choosing between renting and owning equipment. If you are certain, then the next question to ask is…

 

What financial programs are there?

Stated option lease

This allows a contractor to finance equipment without a large up-front payment. Customers retain cash flow while using the equipment and at the end of the stated option lease, customers can purchase the equipment for a guaranteed amount—thus eliminating the risk of making an unknown “fair market value” purchase.

Fair market value lease or off-balance sheet lease

Similar to the stated option lease in that there can be a lump sum due on the equipment at the end of the lease. The amount due is based on the fair market value of the equipment at the end of the lease period, as appraised by the financial institution.

Accelerated payment program

The quickest way for a contractor to build equity. Such a program increases the value of a trade allowance in the event of an early trade-in and is ideal for contractors who do not have a huge net worth. This option has the lowest gross repayment, and the customer will actually be paying less in interest costs.

Skip payment program

Designed to match the customer’s sales period. It is often the ideal choice for companies that have equity and are able to make higher payments during the months of the year that they are producing. This option is particularly appropriate for contractors doing business in colder climates, where weather can shut down production.

Conditional sale contract

This is the most common financial program. Typically, we can finance 100% of the sales price with no money down. Then, equal payments are spread throughout several years. However, an initial down payment could be required depending on credit. With a conditional sale contract, a contractor usually establishes equity up front by making a significant down payment with no money due at the end of the contract.

 

Looking to finance more than just your crusher?

With dozens of banks at our disposal, we have a place to take just about everything. For more information, reach out to our finance team.

Knowing your resources

We’re here to do more than help you finance your crusher—with Team Eagle, you get complete support—from research and development, sales and service, financing, and the best aftermarket support in the industry.

Previous Posts

All You Need to Know About the 8×20 Screening Plant

All You Need to Know About the 8×20 Screening Plant At CONEXPO-CON/AGG, Eagle Crusher will be displaying three pieces of equipment: the UltraMax® 1600X-OC, the 8×20 Screen Plant with Integrated Feed Conveyor, and the 2036 Jaw. The equipment will be featured...

All You Need to Know About the 2036 Jaw

All You Need to Know About the 2036 Jaw At CONEXPO-CON/AGG, Eagle Crusher will be displaying three pieces of equipment: the UltraMax® 1600X-OC, the 8×20 Screen Plant with Integrated Feed Conveyor, and the 2036 Jaw. The jaw can be installed in numerous...

Eagle Crusher’s CONEXPO-CON/AGG 2023 Reveal

Introducing Eagle Crusher’s CONEXPO-CON/AGG 2023 Line Up Now that we are only three months out from CONEXPO-CON/AGG, we wanted to highlight the three pieces of equipment Eagle Crusher will be displaying in Booth C30949. We are excited to show the latest...

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