Over the last few months, we have seen rates drop for those seeking to finance new or used equipment. Economists are pointing to even lower rates as the year goes on, but of course that will depend on whether the economy continues its downward inflation trend or not, on its way to the 2% target.
Lead times for equipment delivery continue to be more reasonable. We are no longer seeing the “one year out” delivery dates for some equipment. The supply chain problems that plagued the economy for so long have seemed to lessen substantially.
A good piece of advice as you plan ahead for 2024 is to consider combining your purchase bucket list under one larger financing agreement. Instead of financing various pieces of equipment over a period of time, you can take advantage of one approval process under a “master agreement” and lock in an often more attractive rate. An added advantage of the master agreement is that it can accommodate multiple vendors on one agreement.
There are so many advantages to leasing: The paperwork to get started and approved is minimal (a one-page application, 3 months of bank statements for the most part up to $250,000); no financial reporting required once the equipment has been financed; the only collateral is the equipment being financed. No blanket liens.
Feel free to contact us at 412 262-3225 to discuss the many financing programs available. We can assist all types of borrowers, from start-ups to long-established businesses.
We are Acceptance Leasing and Financing Service, Inc. We are in our 32nd year of business in 2024. Established in 1992, we pride ourselves on our Certified Leasing and Financing Professional designation. We are a member of SBCA and a frequent attendee of the BCMC tradeshow. We can provide financing for any new and, regardless of age, used equipment.