Financing Options
Questions we can help you answer:
- What can I afford on a monthly basis?
- How much do I need for a down payment?
- What is the cost of borrowing?
- What is my long-term equipment replacement strategy?
- How will this affect my banking relationship?
- How can I afford to purchase a Caterpillar?
With many years of experience in financing within the heavy equipment industry, Finning Finance understands the kinds of problems you face, and how your operations and cash flows can change from month to month.
The professionals at Finning Finance can help. We can explain the options that are available and can tailor your plan to meet your specific needs and job requirements.
Why choose Finning Finance?
Simple one-stop shopping
We can provide your equipment requirements, dedicated service and parts, and finacial needs through one convenient source that understands heavy equipment and the industries that use it.
Flexibility
We can tailor your financing requirements to suit your cash flow through variable payment schedules on purchases and leases; sale lease-back agreements on exisiting equipment; and do all of this through quick confidential service that suits your business operation.
Competitive Rates
Finning can offer you access to competitive interest rates on both purchasing and leasing equipment. Through our partnership with Caterpillar Financial Services, we can offer below market interest rates that are the best in the business. Using the strength of our dealership and our manufacturer, we can provide a comprehensive package of finance tools to our customers.
New and Used Equipment Financing
Competitive financing is available on all sales, leases, and rental conversions of both new and used equipment.
Trade-ins
Use the equity of your trade-in in your financing deal.
Equity Loans
Enjoy the benefits of extra capital for debit consolidation, business acquisitions, major repairs, or whatever you require a little extra money for.
Financing Options
Cash Purchase
Cash purchases with funds provided from working capital is normally the least costly method of acquiring equipment...provided the cash is available. Service fees and interest costs are eliminated for the buyer. Although outright purchase may provide the lowest total cost, you need to consider that this is working capital and could be used for other business development, rather than purchasing mobile equipment.
Financing
A finance purchase is normally referred to as a Conditional Sales Contract. This type of purchase plan has limited cash outlay in the form of a down payment. The buyer takes the depreciation benefits, and owns the machine at the end of the financed term.
Lease
Leasing provides the use of equipment over a specified period of time, without any transfer of ownership. You "pay for what you use" and you can be granted with an option to purchase the equipment at the end of the lease term. This method usually offers the lowest monthly costs, and the tax benefits of off-balance sheet accounting.
Rental Purchase
A short-term rental agreement (1 - 12 months), with an option to purchase at the end of the term, offers opportunity to build equity through monthly payments. This method also offers the customer time to assess the suitability of the machine on his application and time to deliberate ownership benefits.
Rent-to-Rent
This short term contract for the use of equipment is typically paid month-to-month, or as the equipment is required. This allows for rental machines for specific jobs, with rates available daily, weekly, or monthly. Finning has large up-to-date rental fleets available to meet your exact needs.
Matching cash flow to monthly payment affordability is the key element in satisfying your product acquisition requirements. The bottom line is good money management.
Line of Credit
How about a pre-approved customizable Line of Credit for your equipment acquisition?
- You no longer have to wait for credit approvals.
- You have quick access to First Class Financing Options.
- Finning Financial Services will help you set up a customized re-payment plan.
- The Line of Credit can be utililized for purchases, leases, and rentals and is renewed on an annual basis.
- No set up fee!
Contact your local Finning branch (view branch locations) for more information.