3 Common Misconceptions with Equipment Financing
When exploring equipment financing options, whether for new or used purchases, or for supporting a rental fleet, the process can be daunting. Concerns may arise about qualifying for a lease or understanding complex terms. It’s crucial to research thoroughly, seek expert advice, and maintain a realistic budget. But how do you confidently navigate through the available information and select the best option?
The solution is simple – work with Curry Supply! Our team will connect you with a trusted financial partner to guide you through the financing process, offering competitive and customizable options. Read on to debunk common misconceptions about equipment financing and learn how our partnership can cater to your needs.
Debunking Common Misconceptions with Curry Supply Finance
- It’s Difficult to Understand Options and Terms.
Our preferred equipment finance partner provides clear, expert guidance tailored to your business needs. You’ll receive direct access to this partner for personalized advice, avoiding the need to contact a global call center. This approach simplifies the understanding of lease terms and options.
- Financing is a Long Process.
Contrary to popular belief, our lending partner ensures a swift and efficient process. After submitting your initial paperwork, expect a prompt review and potentially a credit decision within 24 hours.
- Leasing Costs More than Buying.
Comparing leasing and buying isn’t straightforward. Leasing offers several benefits, such as minimal upfront investment, maintaining capital in your business, and flexibility in managing cash flow. You can purchase the equipment post-lease, upgrade to a newer model, or return the equipment if your needs change.
Leasing Options Available Through Curry Supply’s Finance Partner
TRAC (Terminal Rental Agreement Clause) Lease: Ideal for reducing the cost of a Curry Supply truck.
- Low, tax-deductible monthly payments.
- Purchase, continue the lease, or return the equipment at maturity.
Fair Market Value (FMV) Lease: Best for businesses prioritizing utilization, warranty and support, offering more frequent upgrades.
- Affordable, fixed monthly payments.
- Options to purchase, return, or upgrade at lease end.
Conditional Sale: Suited for those considering a long-term investment but wanting to try the equipment first.
- Flexible repayment schedule.
- Buyout option at lease end for $1.
- Client gets the tax benefits of ownership.
Tax-Exempt Lease: Designed for nonprofits, improving cash flow, and offering tax benefits.
- Attractive lease rates.
- Monthly, Quarterly, or Yearly payment options.
Curry Supply understands the diverse needs of businesses, from small startups to large corporations. Our financing options are designed to help you retain capital, improve cash flow, and save time. Get started conveniently; explore our options or apply today!