equipment leasing costs, payments and rates (part 2)
TRANSCRIPT
1What Factors Affect Your RatesWhen You Finance Equipment?
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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
