Equipment Financing Rates

The higher your credit score the lower your interest rate will.

Equipment financing rates.

This being said the repayment terms on equipment financing are usually five to six years although some lenders may offer longer terms up to 10 years. Equipment financing average costs. Special pro and put residuals on new and late model used 2015 or newer combines for a limited time only. Since the equipment is usually costly equipment financing allows small businesses to access higher amounts by using the equipment as collateral.

We finance general purpose equipment such as packing machines and office equipment heavy industrial equipment such as manufacturing lines printing presses and stationary machinery construction equipment and commercial vehicles typically greater than 2 5 tons such as heavy trucks and trailers. Unless rates are outrageous it makes very little difference what actual rate you pay for your equipment. Special pro put and fpo residuals on new and used grain carts dump carts forage wagons dump wagons tillage equipment and heads cornheads drapers platforms. Equipment loan interest rates.

Overall equipment financing rates typically range from 4 to 40 varying of course based on the lender your business s qualifications and the equipment you re purchasing. Equipment priced less than 100 000 usually comes with a higher finance rate anywhere from 8 to 20. Thus the borrowing amount is directly based on the equipment s price. Why heavy equipment leasing rates matter less than you think.

Take someone financing a trencher for 75 000. Equipment financing rates are determined based upon the size of the lease your credit score and payment history and where your business is located. If you bought from a dealer at a 5 rate over 5 years your payment would be 1 400 a month. Lock in a low lease payment with agdirect s special lease residuals.