What goes into determining a Rate?
There is so much false information all over the internet:
About equipment financing rates it is just ridiculous!
Most financing companies false advertise in the hopes you will click on their website and submit your information to them.
The Simple truth is equipment financing rates always run higher than a manufacturer’s financing rate a dealer might offer you on a new piece of equipment.
However, if anyone quotes you an APR rate on Equipment Financing, you need to beware because standard Equipment Financing Contracts like EFA’s, $1.00 Buyout lease, Purchase Option Leases and FMV leases do not contain the rate in contract.
This is because lenders pay their inhouse attorneys to protect their interest from any liability.
Interest Rates do vary across the board based on determining factors the underwriter uses.
A good range of rates in today’s market is anywhere from 7% (for low risk) and all the way up to 20%+ for extremely high risk..