Construction Equipment Finance

1. Depending on the area of Construction you are in as well as where your business is located in the United States, lenders you can be considered for seasonal payments verses monthly payments.

2. Lenders love construction equipment because the business is rapidly growing. This means someone with a mediocre credit score can get approved with good credit terms and a good financing contract.

3. Should I choose an Equipment Finance Agreement or a Lease Agreement? If you are anticipating keeping the unit for a longer period than 5 years than an Equipment Financing Agreement (EFA) would make sense. If you are the type of person who likes the latest and greatest in machinery than a Purchase Option Lease Agreement might be a better fit for you.

4. Different types of Construction Equipment can be quite costly to buy. So it’s important to know if renting makes more sense or if purchasing will make you more profit in the long run. Checking out rental rates is a good place to start if you aren’t sure.

5. A great deal on used construction equipment can be found by looking at private sellers. Facebook and Craigslist are good market places to use.
Also, Auction Houses are another good source.