While you taking a decision of leasing heavy equipment so, it’s not an easy decision. To take the decision you have to filter and consider some key points. There are some questions we are facing maximum time that is what is the best..?
As like as others equipment, for heavy equipment we think what the best heavy equipment leasing companies are. After the question, the other questions are come. That’s why to think of you, we listed some top companies who allow heavy equipment lease. By our list, you can save you valuable time and head. We know how much irritating finding a good company. Let’s digging down-
Top 10 heavy equipment leasing companies
No one is Madison Capital equipment and vehicle financing for leasing used equipment
If you want fast response from the leasing company so the capital equipment would be best for you. Let’s see others benefits of the capital equipment-
- You can get a signature process experience. By the process you application would be very fast.
- They are not broker, they will deposit fund direct to your account. You will get direct funding.
- They will offer you new and used heavy equipment financing option.
- Easy and online application process. You will have one page credit option.
- Now the key point time. They are very good at fast response. They will take a decision with 1 or 2 business days to check the update you.
- For payment, you can pay by seasonal frequency.
No two is RB Auction
This RB Auction for whom, who are worried about their company size. We want to say, forgot the size. The RB Auction will lease you the heavy equipment. No matter what is your company size?
Other features of the RB Auction-
- They will available for 100% financing. So if you want the 100% financing, just go for it.
- No down payment option makes this company great to maximum people.
- Easy and fast approval is another good point of them.
- They are very flexible. Not only flexible you will get low monthly payment option. This low monthly payment option won’t destroy your bank.
- Do you want to keep relax for few days after leasing the heavy equipment? Don’t worry..! You don’t have to pay for 120 day after financing. That means, keep relax for 2 months.
- You will get flexible lease option also.
- Don’t worry about tax. They will provide you full tax benefit as they can.
- The application process is online.
No three is Empire Cat
If you want both of financing and leasing option in one company, so this Empire Cat might be good fit with you. Below the others benefits of Empire Cat-
- You will get installment loan option and for the installment loan you have to pay a minimum required down payment.
- Get ready to low cost purchasing option. Not only that you will get advantage for interest rate also.
- After the lease you can return it. If you don’t want to return, they will offer you to extend the lease time or purchase the heavy equipment.
- Their finance lease gives you the chance to own the heavy equipment under lease. You can make a frequently pay off basis to own the equipment. If you don’t want the ownership, you can return it.
- Not only that, you can get government lease purchase option. With this lease purchase option you can get the heavy equipment within a very low interest rate. By the way, you have to pay tax for this.
- Another great advantage is the cat commercial account. The cat commercial account is way of credit that pay for your heavy equipment parts, accessories etc. There are no annual fees for this.
No four is Crest Capital
Did your credit has some problem? Can’t get lease for finance for your credit problem? Don’t worry! Crest Capital solve your problem. How? Check below-
- The crest capital apply process is simple online so they won’t check your personal credit. Hope your credit problem is solved now.
- You will get quick response from them. Other side some of the company takes too much time to response.
- If you want finance, then they will offer you 100% financing without any soft cost. That’s great. Right?
- They only require your document not others. Where some of the company requires your all family members document.
- If you need freedom, just go with them.
- There are no hidden fees. Just state forward.
- They will offer you some fixed term finance. Try to check before and finance or lease.
- Do you hate yearly re-qualification? We do also. That’s why we picked the Crest Capital. There are no re-qualification requirements.
No five is Elease
Most of the peoples want to get maximum benefit from the lease company. If you are in this club, so this Elease is only for you.
Benefits of Elease-
- You will have an experience powerful online application process from them.
- You will get a competitive rate; moreover they will try to give you lower rate.
- The Elease has a minimum loan requirement. That is $3000 minimum.
- There are different types of lease you can get. But most of time if you have a great credit then it would be great advantage to get the lease.
- The approve maximum loan or lease application. That’s why you should have a try.
- There has a sales-leaseback option. By this way you can lease the equipment that you purchase already.
Benefits of leasing heavy equipment-
- Leasing can save your money. If you are a small business owner so leasing heavy equipment is right decision for you. Some big company owner can buy heavy equipment as their need because they have money on their hand to invest new equipment. On the other side small owner can’t because their have small amount of budget. To buying heavy equipment is too much costly. That’s why if you lease the equipment rather than buying, this way you can save much money.
- Suppose, today you buy a equipment. After one or two years you need a equipment that has more feature than your present one. So what you do after the one or two year even in near future? Do you buy again new one? Provably not. Right? Yes here is the point. By leasing heavy equipment you can get latest technology related equipment. So why you go for buying instead of leasing.
- While you go to take leasing equipment then you might get offer from the equipment lender. Most of times they will offer you pay as a monthly frequently. Even you can see the monthly payment is not too much as you expect. Sounds good.
- Sometimes you can reduce the tax problem from the equipment leasing. The monthly payment will cut down from your monthly salary. Moreover sometime there 179 tax sections apply for your business but not too much. It will save your money. We recommend you to contact with a tax professional lawyer to know more about leasing business tax.
- Sometime the equipment provider focuses on your business. They require to know about what is the business you do and what you will do by the equipment. Why they require this? Maximum time to equipment lease time around 12 to 16 months. Even you need to focus on this. If your business unfortunately stop for a while or you change your business plan, so what about the equipment? May be the equipment no longer needed. It’s a high risk for you. You have to keep continue paying the lease amount. That’s why we recommend you to think before what you do and will do. It’s better back to the equipment than leave. So, now let’s make a business plan then go for the lease.
Consideration for choosing Heavy equipment leasing companies-
Take the leases that provide a fair market value. No matter what is the size of you company is. It can be small, medium or big size. Leasing would be best decision while it’s all about heavy equipment. You can found some company who offer the product end of the lease. That means when you complete the paying off your loan you can get the ownership. If you want you can return the product, you can re-new the lease even you keep using the equipment. Don’t worry, about these types of plan’s monthly payment. They are most flexible and you can pay monthly frequency basis.
- One dollar end. Sounds like crazy right. Well, let us clarify these types of loan call dollar bayout. Maximum time the rate of installment is higher than you think but it is a fair market value lease program. That’s why end of the lease you can get the equipment if you want. The magic thing is you can get the owner ship just only for one dollar. Crazy right? Yes we know. We recommend you to take this lease if you want the equipment for long time. Make sense? Great.
- Imagine, your current have an equipment but now you want to replace the equipment with a new one. Not only that, you want to combine the price with both of this. How’s it? Awesome right. Yes that’s why the wrap lease is. With the warp lease you can do both of replace the old equipment with new one and combine their price. By this way, you can minimize the amount of interest rate. That would be a great advantage for you if you want to get new feature equipment. Basically the large business goes for this warp lease.
- This point is all about sale and lease. Don’t understand? Well, so without any further delay let’s digging down. Get back to point 3, you have an equipment right now. So if you want you want sell your current equipment to anyone. What about then? Ok, then they offers you immediately lease it to you. Even if you want you can lease it. By this way, you can earn some extra profit. This is not enough; you can also save your money by leasing the equipment. So what is the moral? The moral is, when time is little tight for you but need the equipment also. That time you can sell and lease the equipment with that earn some extra profit.
- Check the monthly payment amount. The leasing monthly pay off amount and purchasing pay off amount is not same. Make sure the leasing monthly pay off amount won’t ruined your bank.
- Think your needed time. If you need the equipment for more than two years so we recommend you to not getting the equipment as lease. The interest of longer time can be out of your hand.
- If you currently own a heavy equipment but now need equipment with latest technologies equipment so you can finance your equipment. It would be worst decision you go for leasing.
As we recommend leasing is better than finance when it’s all about heavy equipment. Before taking any decision try to figure out the lease options. We recommend you to focus on the lease turnaround time. Make the sure the lease you take won’t cut your pocket. We recommend you to take a lease those less than 2 years otherwise not.
To get all benefit in one option so you can try the Crest Capital however the eLease is not bad for leasing. If you forget the condition of choosing Heavy equipment leasing companies so please go back and check the consideration points and match the points with the top five Heavy equipment leasing companies.
If you want you can choose the lease company from the above five. If you criteria don’t match with these, just look at Google. You can find many more companies. Let us know what you think and which company goes with you perfectly. Let’s go.