Used Heavy Equipment Financing

For those in the construction business, the name of the game is productivity. Inefficiencies or delays can result in lost revenue, and in this competitive climate, having access to one's own heavy equipment can be the key differentiator. But the financial landscape for smaller enterprises or individual contractors often makes this outright purchase impractical. The option of investing in used heavy equipment financing injects a dose of pragmatism into the dream of equipment ownership, leaving you with a dependable strategy that not only secures the assets you need to grow but also safeguards the financial health of your business.

Key Takeaways:

• Power Drive Supply partners with lenders who prioritize the needs and goals of real people like you, with benefits like:
• Soft credit pulls
• Customized financing plans (including options for those with imperfect credit)
• Transparent and timely customer service
• Affordable down payment opportunities
• Benefits of used heavy equipment financing include boosted availability of liquid cash, likelihood of tax benefits, and flexible repayment terms
• The Section 179 deduction of the IRS tax code allows businesses to write off a significant portion of the cost for equipment purchased or financed.
• Apply for used heavy equipment financing today and experience an effortless investment in advancing your business!

Who Can Apply for Used Heavy Equipment Financing?

We understand that not everyone has a picture-perfect credit history or tons of liquid cash laying around. That’s why we partner with experienced, flexible lenders capable of making the most beneficial, custom financing plan for your needs. However, there are still some basic factors a lender will look at when considering your application. These include, but are not limited to:

• Credit score and history (both business and personal)
• Business history, including years of operation
• Value of the desired equipment for purchase
• Your business’ loss and profit statements

Why Finance Used Heavy Equipment Through Our Partnerships?

Whether it's forklifts, bulldozers, excavators, or cranes, heavy machinery represents a significant investment, one that can make or break your company's profitability. Choosing to finance your used heavy equipment can be a smart move. It frees up capital for other business expenses, preserves your cash flow, and can even offer tax advantages. However, not all financing options are created equal. That’s why we partner with Smarter Finance USA to offer our valued clients the best possible outcome for their business goals. 

Fast, Reliable, & Transparent Customer Service

At Power Drive Supply, we understand the importance of equipment uptime and operational continuity. That's why our chosen lender’s customer service is not only fast but reliable. When you're faced with a breakdown or need to add equipment quickly to your fleet, you can count on us to expedite the financing process efficiently. With a transparent approach, you’ll know the cost of your financing upfront, with no hidden fees or clauses that could catch you off guard in the future.

Flexible Terms With the Latest Rates & Access to Industry Experts

We work with lenders who provide flexible terms designed to fit your particular financial situation. Whether it's a short-term loan to get you through the season or a long-term lease for your core fleet, we have you covered. Rates are competitive and in line with industry standards. You can also expect the very latest in financing options, ensuring that you are always getting the best deal for your business.

Our team includes industry experts who are not only adept at crunching numbers but understand the daily operational challenges you face. This ensures you receive personalized advice that goes beyond the balance sheet and into the practical.

Affordable Down Payments

The barrier to entry for acquiring heavy equipment can be steep. We recognize this and have structured our financing solutions to offer low down payments, making it easier for you to get the equipment you need without a significant cashflow setback.

For those with a solid credit history, the ability to secure financing with us means you can start making money with your newly acquired vehicle almost immediately without tying up your working capital. (Don’t have the best credit history? We may have personalized financing solutions, just for you!)

Soft Credit Inquiries

Concerned about the impact of a credit check on your credit score? With Power Drive Supply, that stress is alleviated. Our pre-qualification process involves a soft credit inquiry, providing you with likely financing options without affecting your credit.

This commitment to a soft credit pull is part of our broader ethos of customer care, ensuring that your financial health isn't compromised as you explore your financing options.

Customizable Finance Plans for Your Business

Contrary to the one-size-fits-all financing you might find elsewhere, our approach is all about customization. We'll work with you to create a financing plan that is unique to your business needs, growth strategies, and market conditions.

Our aim is to empower your business' long-term success, and we do that by tailoring your financing to ensure it complements your business plan seamlessly.

Freedom to Pursue Your Expansion Plans with Confidence

With us, you're not just obtaining financing; you're gaining a partner in your business's expansion. Our commitment is to assist you in acquiring the used heavy equipment you need to grow and achieve your business goals.

From initial inquiry to the day you drive your equipment off the lot, and through every payment after, we're here to support and facilitate your progress every step of the way.

Benefits of Used Heavy Equipment Financing for Your Business

From the rhythmic thud of a bulldozer’s fall to the precision of an excavator digging a new trench, every movement signifies an advancement in construction, agriculture, manufacturing, and more. Yet, for all its worth, the acquisition of heavy machinery can present financial hurdles that might seem insurmountable–especially for the growing business. This is where used heavy equipment financing steps in, offering a lifeline to companies eager to harness the power of these mechanical giants without the significant upfront cost.

Conserves Liquid, Working Capital

When a business opts for used heavy equipment financing, they're essentially choosing to preserve their immediate cash reserves. Cash flow is the lifeblood of any business, and tying up funds in a large, upfront equipment purchase could hinder your operations in unforeseen ways. Financial flexibility is critical, especially during slow periods or when unexpected expenses arise. By spreading the cost of equipment over time, you ensure that your working capital remains intact, ready to be used for day-to-day expenses, emergencies, or lucrative new opportunities.

The Opportunity Cost of Capital

Cash reserves aren't just for emergencies; they're also the fuel for growth. When working capital is conserved, businesses can leverage it for various strategic moves. Whether it's investing in marketing campaigns to expand your customer base, hiring new skilled labor to take on a larger workload, or capitalizing on new technologies, having liquid assets grants you the flexibility to seize growth avenues as they arise.

Cash vs. Creditworthiness

For businesses without a substantial cash reserve, using credit to finance equipment can be a risky venture. High credit utilization can negatively impact your business’s credit score, limiting your ability to access additional forms of credit when needed. Used heavy equipment financing is a method of financing that doesn't depend on your current credit limit but rather the collateral itself—the equipment being financed. This can be a more stable and predictable form of financing, especially for businesses looking to maintain or improve their creditworthiness.

Offers Flexible Terms for Repayment

When a business opts for used heavy equipment financing, they're essentially choosing to preserve their immediate cash reserves. Cash flow is the lifeblood of any business, and tying up funds in a large, upfront equipment purchase could hinder your operations in unforeseen ways. Financial flexibility is critical, especially during slow periods or when unexpected expenses arise. By spreading the cost of equipment over time, you ensure that your working capital remains intact, ready to be used for day-to-day expenses, emergencies, or lucrative new opportunities.

Likely Comes With Tax Benefits

One often-overlooked benefit of used heavy equipment financing is the potential for tax deductions. The interest paid on a business loan is typically fully deductible as a business expense, reducing your overall taxable income. Additionally, under Section 179 of the IRS tax code, equipment purchases up to a certain dollar limit can be expensed immediately rather than having to depreciate the asset over time, providing significant tax savings.

The Section 179 Deduction

The Section 179 deduction allows businesses to write off a significant portion of the cost for equipment purchased or financed. This generous deduction can mean that a significant portion–or even the entirety–of the equipment's cost can be recouped through reduced tax liability.

Impact on the Bottom Line

The tax benefits of used heavy equipment financing can add up to substantial savings over the life of your loan. By consulting with a tax professional, businesses can structure their financing to maximize the available deductions and credits, further streamlining the financial impact of heavy machinery acquisition.

Finance Everything From Your Business Truck to Your Next Business Equipment Purchase

Power Drive Supply is committed to providing superior financing solutions for used heavy equipment in the construction industry. Our lenders’ combination of custom-tailored plans, affordable down payments, and excellent customer service ensures you have the financial backing you need to succeed.

We are more than just a financier; we strive to be your partner in growth–from selecting the right heavy equipment for your upcoming contract to the final financing payment. By offering flexible solutions, access to industry experts, and a commitment to transparency, we position your construction company for the next level of success. 

When you choose Power Drive Supply for your used heavy equipment financing, you're choosing a trusted avenue to empower your business's efficiency, profitability, and competitive edge. Allow us to be the driving force behind your heavy equipment financing needs and see the difference it can make for your business.

Want to learn more about what sets Power Drive Supply apart from other heavy equipment vendors? Take action by dropping us a line and take the next step toward growing your business and landing your next client at (406) 461-3275.