equipment leasing costs, payments and rates (part 2)

1What Factors Affect Your RatesWhen You Finance Equipment?

(Continued...)

Equipment Age

Equipment Age

Older equipment (10+ years, 7+ for long haul trucking) isharder to finance

Equipment Age

Older equipment (10+ years, 7+ for long haul trucking) isharder to finance

Rates can be a little higher for older equipment, but itis not impossible to lease or finance older machinery.

Your Credit

Your Credit

There's a huge difference in payments for someonewith a 700+ credit score versus a 500 credit score.

Your Credit

There's a huge difference in payments for someonewith a 700+ credit score versus a 500 credit score.

Let's look at financing a $30,000 Truck for five years ...

Approximate Payments

Great Credit

$675

Approximate Payments

Great Credit

$675Good Credit

$715

Approximate Payments

Great Credit

$675Good Credit

$715

OK Credit

$775

Approximate Payments

Great Credit

$675Good Credit

$715

OK Credit

$775Fair Credit

$915

Approximate Payments

Great Credit

$675Good Credit

$715

OK Credit

$775Fair Credit

$915

Bad Credit

$1,200

Approximate Payments

Great Credit

$675Good Credit

$715

OK Credit

$775Fair Credit

$915

Bad Credit

$1,200

Awful Credit

$1,375

How Long You Have Been In Business

How Long You Have Been In Business

Many startup businesses fail

How Long You Have Been In Business

Many startup businesses fail

It is usually more expensive to finance a startup than anexisting business.

How Long You Have Been In Business

Many startup businesses fail

It is usually more expensive to finance a startup than anexisting business.

Rates vary tremendously for startups dependingon factors such as your credit and liquidity